The Amendment Under Section 254(2) In Respect Of Time Limit Of Six Months For Rectification Is Prospective And Applicable To The Orders Passed After 01.06.2016
Interest payment cannot be permitted to be deducted against the remuneration earned by the assessee. It was submitted that the assessee was a working partner of the firm and the income earned by the assessee has no correlation with the capital contribution made by the assessee.
M/s. Google India Private Ltd. Vs. Addl. CIT (ITAT Bangalore); TDS on royalty payments under section 195(2): Applicability of DTAA cannot be determined suo-moto by AO without there being any application
Income declared cannot be called retraced if same was included in 2nd revised return but not in Original and First Revise Return further Sec. 271AAA(2) not mandates offering of undisclosed income in return of income.
The only issue in the present appeal is whether the respondent- assessee co-operative society is entitled for deduction u/s. 80P of the Act. The respondent- assessee is registered under the Karnataka Co-operative Societies Act. According to the respondent- assessee, the primary activity of the assessee is only to provide credit facilities to its members and therefore it is not a co-operative bank.
CIT Vs. M/s Gillette India Ltd. (Rajasthan High Court) Instant appeal is directed against order of the Income Tax Appellate Tribunal and indisputably the tax effect as brought to our notice, is less than Rs. 20 lac. A Circular No. 21/2015 has been issued by the Central Board of Direct Taxes dated 10.12.2015 in exercise […]
Sri Shashi Parvatha Reddy Vs DCIT (ITAT Hyderbad) Coming to the second category of shares i.e. the original and the bonus shares transferred to the assessee by the overseas investors without any cost attached to them, we find that the original shares were initially purchased or acquired by the overseas investors by way of inward […]
The Competition Commission of India (CCI) has found All India Film Employees Confederation (AIFEC), Federation of Western India Cine Employees (FWICE) & its affiliates and three producer associations i.e. Indian Motion Picture Producers Association (IMPPA)
Outsource Partners International (P.) Ltd. Vs DCIT (ITAT Bangalore) It was not a case where no exempted income is earned and AO applied rule 8D for as rule 8D of Income Tax Rules takes care of all aspects of interest bearing funds and interest free funds and expenditure incurred in management of portfolios, etc., once […]
In re M/s. Pon Pure Chemical India Pvt. Ltd. (AAR Gujarat) (i) Whether the authority is within jurisdiction to admit application especially on the issue of ‘place of supply’? As the ‘place of supply’ is not covered by Section 97(2) of the Acts, this authority is helpless to answer the questions raised in the application, […]
