The assessee is one of the group companies of China based TIENS Group of Companies. The business of the assessee, is Trading/Distribution of Food Supplements and Health Care Equipments. The products dealt with by the Company are basically products manufactured at China or other places by Group concerns. Another Group Entity Tianjin Tianshi Biological Development Company Limited, incorporated at China has established a Foreign Branch Office in India.
DCIT Vs Technico Industries Pvt. Ltd. (ITAT Delhi) So far as the amount of Rs.920 lakhs deleted by the CIT(A) in respect of Shiroki Corporation is concerned, we find from the details furnished by the assessee that Shiroki Corporation is a Japan based related party of the assessee. During the year under consideration, the assessee […]
Shyam Textiles Limited Vs Commissioner of Commercial Taxes (Madras High Court) In the given case the crux of the problem lies in the order passed by the learned Commissioner under Section 28A of the Act, which is as brief and non speaking as it could be. The learned Commissioner, while exercising the powers under Section […]
Use of and online facility for downloading C Forms for inter-state purchase of petroleum crude, diesel, petrol, aviation turbine fuel, natural gas and liquor should not be restricted as if sale of the goods was the only criteria of registration under the CST Act, the consequent amendments would not have allowed concessional rate of tax for purchase of those six commodities for user in activities like Mining or Telecommunication Networks, where no such resale or use in manufacturing was involved. Therefore, such a right was equally available to other industries like Cement Industries and the same could not be denied to them.
Sree Sankeswara Foundations and Investments Vs ACIT (ITAT Chennai) The appellant namely M/s. Sree Sankeswara Foundations and Investments is a Partnership firm constituted under the Partnership Act. It is engaged in the business of real estate. The return of income for the AY 2016-17 was filed. Against the said return of income, the assessment was […]
Since the final assessment orders after amalgamation was passed in the name of non-existent company by the AO, the same was bad in law and therefore, set aside.
CIT Vs R.S. Bajaj Society (Allahabad High Court) The only ground on which the CIT rejected the application for registration was that though the society was established in August 2011 with a dominant object of imparting higher medical education by establishing Medical Colleges, Hospitals and Research Centres, such charitable activities had not still been commenced. […]
Explore Supreme Court’s decision on trust registration under Section 12AA without activities. Learn implications for newly formed trusts. #IncomeTaxAct
Salem Sree Ramavilas Chit Company Vs DCIT (Madras High Court) .The Government of India has introduced E-Governance for conduct of assessment proceedings electronically. It is a laudable steps taken by the Income Tax Department to pave way for an objective assessment without human interaction. At the same time, such proceedings can lead to erroneous assessment […]
Matrix Cellular (International) Services Limited Vs Union of India & Ors. (Delhi High Court) Department have merely followed the statutory scheme of first making inquiries, and premised on the information gathered, to issue the Show Cause Notice under Section 73 of the Act. Having heard learned counsels, we are of the view that there is […]
