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 Bangalore rules that VAT penalty payments cannot be deducted under Section 37 of Income Tax Act, remanding case for further examination.
These regulations do not specify any date by which the employee’s contribution/ subscription to the PF is to be deposited in the individual employee’s account under the Calcutta Port Trust Non-Contributory Provident Fund.
ITAT Mumbai held that the Employee Stock Option Plans [ESOP] expenses should not be regarded contingent or notional and it should be allowed as deduction u/s 37(1) of the Income Tax Act.
ITAT Mumbai disallowed the claim of depreciation under section 32 since assessee failed to prove that car was used for the purpose of assessee’s business wholly or in part. Accordingly, appeal dismissed.
The petitioner is a company registered under the Companies Act, 1956 and is a subsidiary of Huawei Technologies Coopertief U.A (Netherlands). The return of the petitioner was picked up for scrutiny.
ITAT Ahmedabad held that that the activities / services do not qualify as stewardship / shareholder activity. Further, assessee correctly determined Arm’s Length Price in respect of management fees by using Transaction Net Margin Method i.e. TNMM.
AO on perusal of the details submitted by the assessee observed that the assessee could not prove the bad debts written off in its books of accounts are, in fact bad debts and irrecoverable with relevant evidences.
Madras High Court held that due to non-compliance against notice issued in DRC-01A, the petitioner is directed to deposit 25% of the disputed tax and petitioner will be granted opportunity of being heard on payment of the amount.
ITAT Surat held that the Fixed Deposits can be treated as stock-in-trade if it forms part of banking business. Further, held that deposits that forms part of banking business, write off such loss will be a loss arising in the course of carrying on banking business.
ITAT Ahmedabad deleted disallowance of sales promotion expenditure since disallowance constitutes small percentage as compared to turnover of the assessee and also there is no allegation of expenditure incurred in cash.
