Income Tax : Comparison between section 68, section 69, section 69A, section 69B and section 69C: -So far as section 68 is concerned, the onus ...
Income Tax : SET OFF OF LOSS FROM ONE SOURCE AGAINST INCOME FROM ANOTHER SOURCE UNDER THE SAME HEAD OF INCOME (INTER SOURCE). SET OFF OF LOSS ...
Income Tax : M/s NRB Bearing Ltd vs. Addl. Commissioner of Income Tax (ITAT Mumbai) Municipal rateable value cannot be rejected straightway.To ...
Income Tax : The assessee, a Branch of Canara Bank, made interest payment of Rs.201,000,000/- to New Okhla Industrial Development Authority (he...
Income Tax : Food world Supermarkets Ltd. vs.DCIT- ITAT Bangalore observed that the 5 seconded employees were not ordinary employees or workers...
Income Tax : Tata Consultancy Services Ltd. vs. ACIT (ITAT Mumbai) ITAT observed that the assessee has acquired the service agreement whereby ...
Income Tax : Appeal filed by Assessee - The Assessee is a company incorporated under the provisions of Companies Act, 1956 and is engaged in ru...
In the impugned year the blood relation is not necessary for the gift to be a genuine gift, but the relationship matters a lot. In all the probabilities the gift is found to be genuine as the donors have explained the source of gift, copy of bank accounts, income tax return.
The Tribunal upheld the contention of the Assessee and also relied upon the judgment of the Hon’ble Calcutta High Court in the case of CIT vs. MKJ Enterprises which held that factoring charges were not interest and as such, provisions of TDS are not applicable.
The Assessee contented that the so-called vend fee in the present case is nothing but a consensual arrangement by which ultimately machinery and equipment used by sugar mills which were very old and which require urgent repair / replacement could be so repaired or replaced.
