Corporate Law : Supreme Court clarifies power to modify arbitral awards under Section 34 in Gayatri Balaswamy case, raising questions on finality,...
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...
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 : Interest income earned by a foreign bank from foreign currency loans extended to Indian corporates was taxable on a gross basis. S...
Income Tax : The Gujarat High Court held that a scientifically determined warranty provision qualified for consideration under settled legal pr...
Income Tax : ITAT held that increased employee remuneration cannot be disallowed merely because business revenue declined where the expenditure...
Income Tax : ITAT held Section 43CA did not apply as the flats were booked before the provision became effective, deleting the addition based o...
Income Tax : The ITAT Ahmedabad held that royalty payments should continue to be benchmarked under TNMM by following earlier decisions in the a...
In the matter abovementioned ITAT remanded back the matter to CIT (A) after observing that assessee was not able to attend the hearing before CIT (A) due to mismanagement of its state of affair.
ITAT Delhi allows appeal against disallowance of contingent liabilities under Section 37, ruling no expenses were claimed in P&L Account for AY 2021-22.
Delhi High Court held that income tax authorities cannot retain seized cash once time period for framing an assessment under section 153A of the Income Tax Act has expired and there is no outstanding demand. Accordingly, petition disposed of.
ITAT Chennai held that initiation of proceedings under section 147 of the Income Tax Act confirmed by CIT(A) based upon correct understanding and appreciation of facts of the case vis-à-vis contemporaneous statute justifiable.
Madras High Court held that exemption to sale of Gloriosa Superba under Tamil Nadu Value Added Tax [TNVAT] will be available to interstate transaction in absence of specific notification issued under section 8(5) of CST Act.
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.
