Income Tax : Learn all about the Income Tax Appellate Tribunal. Find out about appealable orders, time-limits, and the composition of the Tribu...
Income Tax : It is often seen that some Appellate orders in Vat/Income Tax/Excise/Service Tax are accepted by the Administrative Authorities wh...
Income Tax : The Income-tax department can tax even a payment made to a foreign entity outside India, if the transaction has a business connect...
Income Tax : The Mumbai Bench of the Income-tax Appellate Tribunal (‘Tribunal’) in the case of T Two International Pvt. Ltd., Tara Jewels E...
Income Tax : The Supreme Court will decide whether the interest paid on overdues to the Department of Telecom (DoT) can be treated as operating...
Income Tax : The government is likely to challenge the Income Tax Appellate Tribunal ruling on Bofors case in the Delhi High Court for its rema...
Income Tax : the following Members of the Tribunal are hereby transferred in public interest, in the same capacity, to the Bench/es of the Inco...
Income Tax : Concerned over Rs 38,000 crore in tax revenue being locked up in legal disputes, Finance Minister Pranab Mukherjee today asked the...
Income Tax : Over Rs 12,000 crore in tax demands was locked on account of disputes, pending resolution at various courts, as on June 30, 2010, ...
Income Tax : In the cited case, ITAT held that the Assessing Officer does not have power to embark upon the fresh enquiry with regard to the en...
Income Tax : In case of JCIT vs. Riddhi Siddhi Gluco Biols Ltd. The Ahmedabad tribunal has held that Interest free funds available with assess...
Income Tax : In case of ITO VS. M/s.Testree Solutions Pvt. Ltd, ITAT Bangalore held that the export proceeds received after the expiry of the p...
Income Tax : In the case of DCIT vs. M/s. Vaghasia Associates, ITAT Ahmedabad held that merely because some estimated labour payment was writte...
Income Tax : In case of ACIT vs. M/s. Prasad Machinery Pvt. Ltd. (ITAT Ahmedabad) assessee was owner of factory building. It allotted certain ...
Income Tax : CBDT raises monetary limits for tax appeals: Rs. 60 lakh for ITAT, Rs. 2 crore for High Court, and Rs. 5 crore for Supreme Court, ...
The Supreme Court will decide whether the interest paid on overdues to the Department of Telecom (DoT) can be treated as operating expenditure by operators. A three-judge bench has admitted a petition filed by Vodafone Essar Gujarat and decided to adjudicate whether such interest could be treated as operating expenditure.
The government is likely to challenge the Income Tax Appellate Tribunal ruling on Bofors case in the Delhi High Court for its remarks against the Income Tax department. Though government was not a direct party in the case, based on the opinion of Attorney General Mr Ghoolam Vahanvati, the Law Ministry is understood to have asked the Finance Ministry to challenge the ITAT ruling as it contained certain remarks against the Income Tax department.
the following Members of the Tribunal are hereby transferred in public interest, in the same capacity, to the Bench/es of the Income Tax Appellate Tribunal as shown against their names with effect from the afternoon of 25th October, 2010. Shri. G. S. Pannu, AM Shri. A. L. Ghelot, AM. Shri. R. C. Sharma, AM. Shri. D. K. Srivastava, AM
Compensation including interest on cancellation of contract not taxable in the absence of Permanent Establishment of the non-resident in India under India-UK tax treaty
Concerned over Rs 38,000 crore in tax revenue being locked up in legal disputes, Finance Minister Pranab Mukherjee today asked the authorities to step up efforts to realise the taxes. “Rs 28,046 crore is blocked in appeal before CIT (Appeal) and Rs 10,010 crore before Income Tax Appellate Tribunal (ITAT),” Mukherjee said after meeting Revenue Department officials here.
Over Rs 12,000 crore in tax demands was locked on account of disputes, pending resolution at various courts, as on June 30, 2010, Parliament was informed on Friday. While cases involving tax demand of about Rs 7,635 crore are pending in Income Tax Appellate Tribunal (ITAT), around Rs 3,849 crore is locked up in cases with High Courts, Finance Minister Pranab Mukherjee told the Lok Sabha in a written reply.
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has recently pronounced its ruling on an appeal originating from a transfer pricing adjustment imposed on 3 Global Services Private Limited (“assessee”). The assessee operates in the voice based customer care segment within the IT-enabled services (ITeS) industry. During financial year 2003-04, the assessee rendered services to its associated enterprises (“AEs”).
The Income-tax department can tax even a payment made to a foreign entity outside India, if the transaction has a business connection within the country, according to a verdict passed last week by the Income Tax Appellate Tribunal, Mumbai.
The Mumbai Bench of the Income-tax Appellate Tribunal (‘Tribunal’) in the case of T Two International Pvt. Ltd., Tara Jewels Exports Pvt. Ltd. and Tara Ultimo Pvt. Ltd. (See Note-1) (‘the ‘Company’ or ‘taxpayer’), held that in order to determine the arm’s length price of the international transaction, the arm’s length margin should be applied only on the international transaction and not on the entire costs / sales of the taxpayer, as the case may be.
Recently, the Delhi High Court in the case of Maharishi Housing Development Finance Corporation Ltd. v. ACIT (ITA no. 222 of 2009) (Delhi) after following its own decision in the case of Van Oord ACZ India (P) Ltd v. CIT [2010-TIOL-1 87-HC-DEL-IT] held that the question of tax withholding in case of payment made to non-resident would arise only if the said payment is chargeable to tax in India.
