Income Tax : Learn about disallowed expenses under PGBP in India's Income Tax Act. Understand key sections like 37, 40, and 40A, and their impa...
Income Tax : Delhi HC rules reimbursements to NRAEs not subject to TDS as "fees for technical services," clarifying scope of Section 9(1)(vii) ...
Income Tax : Understand the impact of Section 43B(h) on businesses: Learn about deductions for MSME payments and the importance of timely payme...
Corporate Law : Discover the process and types of trademark assignment. Learn about procedures, required documents, and benefits for a smooth tran...
Goods and Services Tax : Explore the critical implications of Section 16(4) of the CGST Act, 2017 on taxpayers' Input Tax Credit (ITC) eligibility and the ...
Corporate Law : Explore the proposed amendments to Regulations 35, 37, and 50 of the Competition Commission of India (General) Regulations 2009. L...
Income Tax : Allowability of Interest paid under Incometax Act, 1961: Presently, interest paid by the Government to an assessee is chargeable t...
Income Tax : ITAT Delhi held that provision of section 43A of the Income Tax Act not invocable when there is only reinstatement of fluctuation ...
Income Tax : The assessee is engaged in the business of Manufacturing & Trading of Sarees, Salwar Suites and Dress Materials. A survey u/s 133A...
Custom Duty : Delhi High Court held that the unlocking/activation of the mobile phone merely makes the mobile phone more usable in the destinati...
Income Tax : A search and seizure action u/s.132 of the Act was conducted in the assessee's case on 14.11.2019. AO observed that during the cou...
Income Tax : In the matter abovementioned ITAT deleted addition made on account of expenditure incurred for initial public offering (IPO) which...
ITAT Mumbai held that membership fee expenses have been incurred for acquisition of individual club membership is not allowable as expenditure in terms of provisions of section 37 of the Income Tax Act.ITAT Mumbai held that membership fee expenses have been incurred for acquisition of individual club membership is not allowable as expenditure in terms of provisions of section 37 of the Income Tax Act.
ITAT Mumbai held that disallowance of delayed payment of employee’s contribution to PF and ESIC in terms of section 36(1)(va) is incorrect claim apparent from any information in the return. Accordingly, adjustment is permissible under the scope of section 143(1).
ITAT Mumbai held that penalty levied for late filing of Profession Tax Return is penal in nature accordingly is not allowable as business expenditure.
Delhi High Court granted regular bail on the reasonable grounds based on which it can be believed that the petitioner is not guilty of offence under section 3 of PMLA and also that petitioner has materially co-operated in the investigation.
ITAT Mumbai’s decision in case of DCIT vs KEC International Limited, where a 0.6% arm’s length rate was established for corporate guarantee fees, influencing future transfer pricing adjustments.
ITAT Mumbai ruled that membership fees paid for a key person of a company are allowable as business expenditure. The case involved the disallowance of club membership fees paid to Cricket Club of India.
Delhi High Court held that the power to grant bail on medical grounds under the first proviso to Section 45(1) of the Prevention of Money Laundering Act, 2002 (PMLA) is discretionary. Accordingly, court directed AIIMS to evaluate medical condition of the petitioner.
ITAT Mumbai held that the income portion of the on-money is assessable in the year in which the sale of concerned flat is declared by the assessee.
Jharkhand High Court held that ‘Provision for Warranty Expenses’ is allowable as business expense as large number of sophisticated goods were manufactured in past and if facts established show that defects existing in some of items manufactured and sold then provision for warranty is entitled to deduction.
ITAT Delhi ruling in Maral Overseas Ltd Vs DCIT, asserting that Education cess is non-deductible as an expenditure under Sections 37 and 40(a)(ii) of Income Tax Act.
