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...
CESTAT Allahabad held that claim of cash refund of service tax paid under RCM not admissible since CENVAT Credit was never claimed and transitional provisions under GST was not complied.
ITAT Bangalore directed CIT(A) to condone delay of 484 days in filing of an appeal and consider the issue on merits as it is alleged that the addition is made due to incorrect reporting by auditor.
ITAT Bangalore held that deduction towards reversal of provision for inventory written off due to obsolescence allowable since the same stands offered to tax in the year in which provision was created.
The assessee company is engaged in business of manufacturing and has filed the return of income for the assessment year 2012-13 on 27/09/2012 disclosing a total income of Rs.1,21,67,790/- and the return of income was processed u/sec. 143(1) of the Act.
ITAT Mumbai held that services rendered by the appellant is taxable in Japan in accordance to Article 12 of the India-Japan DTAA hence Foreign Tax Credit ought to have been granted to Appellant for taxes withheld in Japan.
The assessee filed the return of income declaring a total income of Rs. Nil. However, AO completed the assessment u/s. 143(3) read with Section 144B determining the assessed income at Rs. 3,37,97,789/-.
ITAT Ahmedabad allows Rotomag Motors’ warranty claim based on a scientifically validated method, overturning CIT(A) disallowance. Case details and analysis.
Sales and marketing services rendered to assessee by its US based subsidiary did not fall within the ambit of FTS as defined u/s 9(1)(vi) or Article 12 of India-US DTAA as making available service did not make available knowledge, experience, skill etc.
ITAT Delhi held that the assessee is not required to prove that a particular debt had become bad debt in order to claim deduction on account of bad debt written off pursuant to the amendment made u/s 36(1)(vii) of the Income Tax Act after 01.04.1989.
ITAT Bangalore held that interest due to delayed payment of custom duty is deductible u/s 37 of the Act as it is an accretion to the main payment and not a penalty and accordingly allowable as deduction.
