IMPORTANT DECISIONS INCOME TAX
|
|
- Lynn Gilbert
- 5 years ago
- Views:
Transcription
1 IMPORTANT DECISIONS INCOME TAX S. Sathiyanarayanan Partner 18 Feb 2017 ICAI SIRO
2 Scheme of Morning Talk Recent Decisions (Dec 2016 to Feb 2017) Section 14A Section 50B
3 CIT vs. Vinzas Solutions India Private Limited (Madras High Court) S. 9(1)(vi) 'Royalty' on transfer of software rights: There is a difference between sale of a 'copyrighted article' and the 'copyright' itself. S. 9(1)(vi) applies only to the latter and not the former. Explanation 4 inserted by FA 2012 w.r.e.f has to be read and understood only in that context and cannot be expanded to bring within its fold transactions beyond the realm of the provision
4 CIT vs. G K K Capital Markets (P) Limited (Calcutta High Court) S. 14A Rule 8D: No disallowance with respect to exempt income can be made if the securities are held as stock-in-trade. CBDT Circular No. 5/2014 dated referred
5 CIT vs. Ashish International (Bombay High Court) Bogus purchases: A statement by the alleged vendor that the transactions with the assessee are only accommodation entries and that there are no sales or purchases cannot be relied upon by the AO unless the assessee is given the opportunity to cross-examine the vendor
6 CIT vs. Green Infra Limited (Bombay High Court) S. 68: Even if the premium at which the shares are issued defies commercial prudence, the receipt cannot be assessed as "unexplained credit" if the identity of the payer, genuineness of the transaction and capacity of the subscriber are not disputed. Interest earned on short-term fixed deposits is assessable as "profits and gains of business" and not as "income from other sources"
7 CIT vs. Axis Pvt. Equity Ltd (Bombay High Court) S. 28/29: There is a distiction between "setting up of business" and "commencement of business". All expenditure after "setting up" is deductible business expenditure even if the business has not commenced. A business is "set up" when steps are taken to recruit employees and take premises etc
8 Otters Club vs. DIT (E) (Bombay High Court) S. 254(1)/ Rule 34(5)(c): The Tribunal is mandated to pass orders within 90 days of the hearing. Delay is not justified on the ground that 'administrative clearance' was obtained. The aggrieved party is entitled to seek recall of such an order
9 Ashish Gandhi Builders & Developers P. Ltd vs. ITAT (Bombay High Court) S. 254(2): Facts recorded by the ITAT have to be accepted as correct and conclusive and cannot be contradicted by affidavit or otherwise. The mere placing of a case law in the paper book does not mean that it was cited before the ITAT and nonconsideration thereof is not a mistake apparent from the record. A MA to rectify such alleged mistake of non-consideration of a judgement must be filed as quickly as possible
10 Jeans Knit Private Limited vs. DCIT (Supreme Court) S. 147/ 148: A Writ Petition to challenge the issue of a reopening notice u/s 148 is maintainable as per the law laid down in Calcutta Discount 41 ITR 191 (SC). The law laid down in Chhabil Dass Agarwal 357 ITR 357 (SC) deals with the maintainability of a Writ to challenge the reassessment order and does not apply to a challenge to the reassessment notice
11 Maharao Bhim Singh of Kota vs. CIT (Supreme Court) S. 10(19A): Though principles of res judicata do not apply, the Dept should not endlessly pursue matters which have attained finality in earlier years.
12 Dharamshibhai Sonani vs. DCIT (ITAT Ahmedabad) S. 50C: The proviso to s. 50C inserted by the Finance Act 2016 w.e.f to provide that the stamp duty valuation of property on the date of execution of the agreement to sell should be adopted instead of the valuation on the date of execution of the sale deed is curative and intended to remove an undue hardship to the assessee and an apparent incongruity. It should accordingly be given retrospective effect from 1st April 2003, i.e. the date effective from which s. 50C was introduced
13 REDINGTON INDIA LTD. vs.additional COMMISSIONER OF INCOME TAX (2016) 97 CCH 0219 ChenHC substantial questions of law framed by the HC: 1. Whether the Tribunal was right in law in holding that disallowance under Section 14A of the Act r/w.rule 8 D of the Income Tax Rules can be made in a year in which no exempt income has been earned or received by the Assessee?
14 2. Whether the Tribunal was right in law in confirming the disallowance under Section 14 A, without appreciating that Section 14 A of the Act envisages that there should be an actual receipt of income, which is not includible in the total income, during the relevant previous year for the purpose of disallowing any expenditure incurred in relation to the said income?
15 3. Whether the Tribunal erred in not appreciating that provisions of Rule 8D have to be interpreted within the frame work of Section 14 A and any expenditure which cannot be established to have been incurred in relation to earning exempt income cannot be disallowed?
16 4. Whether the Tribunal erred in not appreciating that the provisions of section 14 A cannot be invoked in respect of investments made by the assessee in subsidiary/ associated companies out of business expediency and not for the purpose of earning dividend?
17 5. Whether the Tribunal erred in not appreciating that the Rule 8 D was inserted by Income Tax (fifth amendment) Rules, 2008 with effect from 24lh March 2008 and accordingly can have prospective application? The provisions of s. 14A read with Rule 8D of the Rules cannot be made applicable in a vacuum i.e. in the absence of exempt income.
18 Sec 147: Reopening (even of s. 143(1) assessment) on the ground that a specific aspect requires verification is not permissible. In the present case, the A.O does not state that any income chargeable to tax has escaped assessment. All that the Revenue desires is verification of certain details and pertaining to the gift. That is not founded on the belief that any income which is chargeable to tax has escaped assessment and hence, such verification is necessary. That belief is not recorded and which alone would enable the Assessing Officer to proceed. Nivi Trading Limited vs. UOI (Bombay High Court).
19 CIT vs. Jet Speed Audio Pvt. Ltd (Bombay High Court). Sec 147: The assessee made a claim for deduction for bad debts which was allowed by the A.O u/s 143(3). Subsequently, within four years from the end of the assessment year, the A.O reopened the assessment u/s 148 on the ground that the amount written off as bad debts was a capital loss and could not allowed as a deduction. The Tribunal allowed the assessee s appeal and quashed the reassessment proceedings. Before the High Court, the department urged that the reopening was valid because (a) the A.O acted on an audit objection which constitutes tangible material and (b) as the A.O had not dealt with the issue in the original assessment order, he had jurisdiction as held in Kalyanji Mavji & Co 102 ITR 287 (SC), New Light Trading Co256 ITR 391 (Del) and Dr. Amin s Pathology Laboratory 252 ITR 673 (Bom).
20 HC held that Sec 143(3) assessment order is not a scrap of paper & A.O is expected to have applied his mind. Reopening on ground of oversight, inadvertence or mistake is not permissible. Kalyanji Mavji & Co 102 ITR 287 (SC), where it was held that oversight, inadvertence or mistake in passing assessment order will give the A.O jurisdiction to reopen the assessment, is not good law in view of the subsequent decision in Indian and Eastern Newspaper Society Vs. CIT 119 ITR 996. An error discovered on a reconsideration of the same material (and no more) does not give him that power. The aforesaid view on the above proportion has been reiterated by the Apex Court in A.L.A.Firm vs. CIT 183 ITR 285.
21 Section 14A
22 Claim for Exemption -scenarios InAY Mr.A earned dividendincomeofrs.20,000/-which was claimed as exempt u/s10(34) of the Incometax Act,1961. Mr.B earned dividendincomeofrs.20,000/-which was not claimed as exempt but was voluntarily offered to tax. Mr.C has not earned any dividend income during the year although Mr.C is holding securities capable of generating exempt income.
23 TheBombay High Court in Godrej and Boyce has held that Once a proximate cause for disallowance is established which is the relationship of the expenditure with income which doesnot form part of the total income a disallowance u/s14a has to be effected Whether disallowance can be made under section14a of the Income tax Act,1961read with Rule 8D of the Income-tax Rules,1962 in computing total taxable income of Mr.A, B and C?
24 Section14A(1)reads as under For the purposes of computing the total income under this Chapter, no deduction shall be allowed in respect of expenditure incurred by the assesse in relation to income which doesnot form part of the total income under this Act
25 Mr. A s claim for exemption Since Mr.A has earned income which is not included in the total income the provisions of section14a are applicable. The expenditure incurred in relation to earning of income not included in total income shall be disallowed. If Mr.A s claim for incurring of expenditure is not accepted by the AO then the disallowance shall be made as per the method prescribed in Rule8D.
26 Mr. B s claim for exemption Mr.B has earned dividend income which is exempt under the Act but offered the same to tax thereby making an attempt to convert the exempt income into taxable income which is not in accordance with the Income-tax Act,1961. The Mumbai Tribunal in BinayakTexProcessorsLtd [2014]44taxmann.com179 has held that even if the exempt income is offered to tax the provisions of 14A are applicable and disallowance is to be made as per Rule8D.
27 Mr. C s claim for exemption Mr.C has not earned any income which is exempt under the Act but holds securities capable of generating exempt income. CIT vs. Corrtech Energy Pvt Ltd. Appeal no.239 of 2014 (Guj.HC) dated Since the Assessee did not make any claim for exemption of any income from payment of tax the disallowance under section14a could not be made. CIT vs. Lakhani Marketing ITA No. 970 of 2008 (P&H) dated The Hon ble HC upheld the order of Tribunal wherein it has been held:
28 That there must be income taxable under the Act; That this income must not form part of total income under the Act; That there must be an expenditure incurred by the Assessee; and That the expenditure must have a relation to the income which doesnot form part of the total income under the Act. Unless and until there is receipt of exempted income for the concerned AY, section14a cannot be invoked.
29 CIRCULAR NO. 5/2014 [F.No.225/182/2013- ITA.II], DATED : The legislative intent is to allow only that expenditure which is relatable to earning of income and it therefore follows that the expenses which are relatable to earning of exempt income have to be considered for disallowance, irrespective of the fact whether any such income has been earned during the financial year or not.
30 Decisions in favour Assessee CCI Ltd vs. Jt.CIT [2012] 206 Taxman 563 (Kar.HC) Dy. CIT vs IndiaAdvantageSecuritiesLtd. [ITAppealNo. 6711(Mum.) of 2011dated 14/09/2012.] Ambit Securities Broking (P.)Ltd. vs. Addl. CIT [ITAppeal No.7856(Mum) of 2011, dated ]
31 Decisions Against Dy.CIT vs. Gulshan Investment Co. Ltd. 31taxmann.com 113(Kol.) Jt. CIT vs. American Express Bank Ltd. 24taxmann.com50(Mum.) Dy. CIT vs. Damani Estates and Finance (P.) Ltd. [ITAppealNo.3029(Mum.)of2012,dated ] D.H.Securities P Ltd. Vs. Dy.CIT [2014]41taxmann.com352(Mum)(TM) dated
32 Investment vs stock in trade Rule8D provides for the method for determining amount of expenditure in relation to income not includible in total income. As per Rule8D(2)(ii)and(iii) the disallowance is based on the average value of investments the income from which doesnot or shall not form part of the total income. Interpretation of the word investment leads to different opinions and views for entities transacting in shares and having investment and trading portfolio or only trading portfolio.
33 Recent one!! CIT vs. G K K Capital Markets (P) Limited (Calcutta High Court) held that -- No disallowance with respect to exempt income if the securities are held as stock-intrade.
34 Section 50B
35 Triune Project Pvt. Ltd. v. DCIT (Delhi)(HC), The fact that certain assets of the "undertaking" are left out of the sale transaction because it would cause inconvenience for the purchaser does not mean that the transaction is not a "slump sale". To expect a purchaser to buy and pay value for defunct or superfluous assets flies in the face of commercial sense.[s. 2(19A), 2(42C)]
36 Unfortunately, the Revenue s understanding is that in a going concern the buyer is bound to pay good money, transact and purchase bad and irrecoverable debts. Does not suit common and commercial understanding, but it is not even a pre-condition, as is evident from the definition of undertaking, cited in Explanation (1) to Section 2 (19) (A) of the Act.
37 Allowing the appeal the Court held that (i) The sale transaction was reported for a total consideration of Rs crores. The sale was for a going concern, which included ongoing service contracts, employment contracts and other tangible assets, and intangible assets such as technical know-how etc.
38 (ii) This definition of undertaking is what has been engrafted into by reference, under Section 2(42C) of the Act. Therefore, if certain assets or properties are left out because they would cause inconvenience or lead to some kind of a trouble for the purchasing party, it is well within its right to exclude it from the list of assets.( ITA no. 448/2016, CM Appeal No /2016)
39 CIT v. Dharampal Satyapal (2016)380 ITR 552 / 237 Taxman 452 / 283 CTR 37 / 130 DTR 145 (Delhi)(HC) S. 50B : Capital gains Slump sale - Depreciation is to be deducted to ascertain the networth of the undertaking for the purpose of computation of capital gain arising out of slump sale even though no such claim was either made or allowed by the Assessing Officer in the earlier years.
40 CIT v. Dharampal Satyapal (2016) 380 ITR 527 (Delhi) (HC) Net worth of undertaking-aggregate value of total assets not to be taken at written down value of block of assets- Actual cost to be reduced, inter alia, by depreciation as would have been allowable for years commencing on or after Depreciation actually allowed for these years not relevant.
41 Queries?
42 Thank U ssn@wiseandworth.com srinisathiya@gmail.com Chennai, Madurai, Bangalore, Cochin
A Fresh look at disallowances u/s 14A of Income Tax Act - By CA. K.K.Chhaparia
A Fresh look at disallowances u/s 14A of Income Tax Act - By CA. K.K.Chhaparia Now a days, every assessee who is doing investment or trading in shares are getting hit hard by the impact of section 14A.
More informationA Fresh look at disallowance under section 14A of the Income-Tax Act, 1961
A Fresh look at disallowance under section 14A of the Income-Tax Act, 1961 [Published in 332 ITR (Jour) 49] 1 - By S.K.Tyagi Section 14A, the heading of which is Expenditure incurred in relation to income
More informationNo disallowance under section 14A, where the assessee has got no income from a composite and indivisible business
1 No disallowance under section 14A, where the assessee has got no income from a composite and indivisible business [Published in 384 ITR (Jour) 1 (Part-1)] By S.K.Tyagi Recently in the case of one of
More informationControversies surrounding Section 14A of the Income Tax Act
Controversies surrounding Section 14A of the Income Tax Act CA Vivek Newatia vnewatia@sjaykishan.com CA Puja Borar pujaborar@sjaykishan.com Background and Rationale for introduction Section 14A introduced
More informationSection 14A and Rule 8D
Special Story recent Controversies in income tax assessments Sameer G. Dalal, Advocate Section 14A and Rule 8D When the case of an assessee is selected for scrutiny, it is always the endeavour of the Assessing
More informationReassessment B y C A M a h e n d r a S a n g h v i
Reassessment B y C A M a h e n d r a S a n g h v i R e a s s e s s m e n t & 2 RELEVANT SECTIONS: Sec. 147 Income escaping assessment. Sec. 148 Issue of notice where income has escaped assessment. Sec.
More informationSection 14A Expenditure incurred in relation to income not includible in Total Income. CA. Pramod Jain. B. Com (H), FCA, FCS, FCMA, LL.B.
Section 14A Expenditure incurred in relation to income not includible in Total Income CA. Pramod Jain B. Com (H), FCA, FCS, FCMA, LL.B. DISA, MIMA This document would help in better understanding of critical
More informationIN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION. WRIT PETITION No OF 2004
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION WRIT PETITION No. 3314 OF 2004 wp-3314-2004.sxw M/s. Eskay K'n' IT (India) Ltd... Petitioner. V/s. Dy. Commissioner of Income
More informationITA No.129 & 329/Kol/2016 M/s Bhoruka Investment Ltd. A.Y [Before Hon ble Sri N.V.Vasudevan, JM & Dr.Arjun Lal Saini, AM]
ITA No.129 & 329/Kol/2016 M/s Bhoruka Investment Ltd. A.Y.2012-13 1 IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH : KOLKATA [Before Hon ble Sri N.V.Vasudevan, JM & Dr.Arjun Lal Saini, AM] I.T.A No.129/Kol/2016
More informationIN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: E : NEW DELHI BEFORE SMT. DIVA SINGH, JUDICIAL MEMBER AND SH. O.P. KANT, ACCOUNTANT MEMBER
IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: E : NEW DELHI BEFORE SMT. DIVA SINGH, JUDICIAL MEMBER AND SH. O.P. KANT, ACCOUNTANT MEMBER Assessment Year: 2006-07 M/s. Ujagar Holdings Pvt. Ltd., 8-D,
More informationSEMINAR ON SECTION 14A DISALLOWANCE AND DEEMED DIVIDEND
SEMINAR ON SECTION 14A DISALLOWANCE AND DEEMED DIVIDEND Deemed Dividend-Legislative Intent The insertion of section 14A in 2001 was mainly done to make the following Supreme Court judgments non functional:
More informationSection 50C: An in-depth analysis
Section 50C: An in-depth analysis By: P. Kanthi Visalakshi, Associate, SAPR Advocates Why was 50C inserted: Prior to 50C being enacted, understating the consideration for transfer of capital assets (land
More information$~3 * IN THE HIGH COURT OF DELHI AT NEW DELHI
$~3 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 448/2016, CM APPL.26426/2016 TRIUNE PROJECTS PRIVATE LIMITED... Appellant Through: Mr. Tarun Gulati with Mr. Rony O John, Mr. Shashi Mathews and Ms.
More informationIN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, MUMBAI BEFORE SHRI R.C. SHARMA, AM AND SHRI MAHAVIR SINGH, JM
IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, MUMBAI BEFORE SHRI R.C. SHARMA, AM AND SHRI MAHAVIR SINGH, JM (Assessment Year: 2009-10) Deputy Commissioner of Income-tax- 10(1), Mumbai.455, Aayakar Bhavan,
More informationITA No.681 & 824/Kol/2015-M/s. Kalyani Barter (P)Ltd. A.Y
ITA No.681 & 824/Kol/2015-M/s. Kalyani Barter (P)Ltd. A.Y.2010-11 1 IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH D KOLKATA Before Hon ble Shri Waseem Ahmed, Accountant Member and Shri S.S.Viswanethra
More information$~ * IN THE HIGH COURT OF DELHI AT NEW DELHI ITA 607/2015. versus AND ITA 608/2015. versus
$~ * IN THE HIGH COURT OF DELHI AT NEW DELHI 12. + ITA 607/2015 PR. COMMISSIONER OFINCOME TAX... Appellant Through: Mr. Kamal Sawhney, Senior Standing counsel with Mr. Raghvendra Singh and Mr.Shikhar Garg,
More informationIN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH H : NEW DELHI VICE PRESIDENT AND SHRI CHANDRA MOHAN GARG, JUDICIAL MEMBER
IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH H : NEW DELHI BEFORE SHRI G.D.AGRAWAL, VICE PRESIDENT AND SHRI CHANDRA MOHAN GARG, JUDICIAL MEMBER ITA No.1580/Del/2010 Assessment Year : 2004-05 05 M/s
More informationIN THE INCOME TAX APPELLATE TRIBUNAL A BENCH : BANGALORE. BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER and SHRI JASON P BOAZ, ACCOUNTANT MEMBER
IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH : BANGALORE BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER and SHRI JASON P BOAZ, ACCOUNTANT MEMBER ITA No.726/Bang/2014 (Assessment year: 2005-06) M/s.B & B Infotech
More informationIN THE INCOME TAX APPELLATE TRIBUNAL, BANGALORE BENCH B BEFORE SHRI JASON P BOAZ, ACCOUNTANT MEMBER AND SHRI N V VASUDEVAN, JUDICIAL MEMBER
Page 1 of 13 1 IN THE INCOME TAX APPELLATE TRIBUNAL, BANGALORE BENCH B BEFORE SHRI JASON P BOAZ, ACCOUNTANT MEMBER AND SHRI N V VASUDEVAN, JUDICIAL MEMBER (Asst. year 2005-06) M/s Synopsys International
More informationDIRECT TAX REVIEW AUGUST 2016 VERENDRA KALRA & CO. Inside this edition. Like always, Like never before
VERENDRA KALRA & CO CHARTERED A CCOUNTANTS Like always, Like never before DIRECT TAX REVIEW AUGUST 2016 Inside this edition CBDT clarifies on Income Declaration Scheme, 2016. Sum received from developer
More informationIN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH B BENCH BEFORE SHRI B.R.MITTAL(JUDICIAL MEMBER) AND SHRI RAJENDRA (ACCOUNTANT MEMBER)
IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH B BENCH BEFORE SHRI B.R.MITTAL(JUDICIAL MEMBER) AND SHRI RAJENDRA (ACCOUNTANT MEMBER) Assessment Year: 1999-2000 Bennett Coleman & Co.Ltd., The Times
More informationSUMMARY OF JUDGEMENTS
JUNE, 2015 DIRECT TAX UPDATE SUMMARY OF JUDGEMENTS KNAV is a firm of International Accountants, Tax and Business Advisors. Presence in INDIA USA UK FRANCE NETHERLANDS SWITZERLAND CANADA E: admin@knavcpa.com
More information[Published in 358 ITR (Journ.) p. 30 (Part-3) ] - By S.K.Tyagi
1 Disallowance under section 14A The AO cannot straight away apply rule 8D, without consideration of claim of assessee under section 14A( 2 ) of the Act. [Published in 358 ITR (Journ.) p. 30 (Part-3) ]
More informationINTERNATIONAL TAXATION Case Law Update
CA Tarunkumar Singhal & Sunil Moti Lala, Advocate INTERNATIONAL TAXATION A. SUPREME COURT RULINGS 1. Where the transfer pricing addition made in the final assessment order pursuant to original assessment
More informationDilution of Section 14A
Dilution of Section 14A A ready reckoner - R.Dhiraj, Advocate, SAPR Advocates INTRODUCTION Section 14A has been introduced by the Finance Act 2001 with retrospective effect from 1962. The provision was
More informationIN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH I, MUMBAI BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND SHRI ASHWANI TANEJA, ACCOUNTANT MEMBER
IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH I, MUMBAI BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND SHRI ASHWANI TANEJA, ACCOUNTANT MEMBER Assessment Year: 2005-06 DCIT, Cir. 6(1), R.No.506, 5 th
More informationIN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH, PANAJI
IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH, PANAJI BEFORE SHRI N.S. SAINI, HON BLE ACCOUNTANT MEMBER AND SHRI GEORGE MATHAN, HON BLE JUDICIAL MEMBER (Asst. Year : 2009-10) DCIT, Circle-1(1), Panaji.
More informationTHE HIGH COURT OF DELHI AT NEW DELHI
THE HIGH COURT OF DELHI AT NEW DELHI % Judgment delivered on: 13.05.2013 + W.P.(C) 8562/2007 & CM Nos. 16150/2007 & 17153/2007 MARUTI SUZUKI INDIA LTD... Petitioner versus DEPUTY COMMISSIONER OF INCOME
More informationIN THE HIGH COURT OF KARNATAKA AT BENGALURU PRESENT THE HON BLE MR.JUSTICE JAYANT PATEL AND THE HON BLE MRS.JUSTICE S SUJATHA ITA NO.
1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 16 TH DAY OF FEBRUARY 2016 BETWEEN: PRESENT THE HON BLE MR.JUSTICE JAYANT PATEL AND THE HON BLE MRS.JUSTICE S SUJATHA ITA NO.205 OF 2015 1.
More informationPublic Interest Litigation Petitions filed by AIFTP & Associate Members
Public Interest Litigation Petitions filed by AIFTP & Associate Members Sr. 1. All India Federation of Tax 1052 of (1994) 209 ITR Circular 681 946-TDS on Govt. amended the Law. Practitioners jointly with
More informationIN THE HIGH COURT OF JUDICATURE AT BOMBAY WRIT PETITION NO.2468 OF 2008
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION WRIT PETITION NO.2468 OF 2008 Cartini India Limited, ) (Formerly Godrej Appliances Ltd. ) Pirojshanagar, Vikhroli (East),
More informationCORPORATE UPDATE IN THIS ISSUE DIRECT TAX INTERNATIONAL TAXATION TRANSFER PRICING DOMESTIC TAXATION. September, 2018
CORPORATE UPDATE DIRECT TAX INTERNATIONAL TAXATION I. High Court upholds grossing up for withholding tax purpose where taxes are borne by customer on fees for technical services paid to non-resident even
More informationIN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH `F : NEW DELHI BEFORE SHRI G.E. VEERABHADRAPPA, VICE PRESIDENT AND SHRI C.L.SETHI, JUDICIAL MEMBER.
IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH `F : NEW DELHI BEFORE SHRI G.E. VEERABHADRAPPA, VICE PRESIDENT AND SHRI C.L.SETHI, JUDICIAL MEMBER. I.T. A. No.4931/Del/2010 Assessment Year: 2007-08 Quippo
More information2 the order passed by the AO dated for AY , on the following grounds:- 1 : Re.: Treating the reimbursement of the expenses as income
IN THE INCOME TAX APPELLATE TRIBUNAL "L" Bench, Mumbai Shri C.N. Prasad (Judicial Member) & Before Shri Ashwani Taneja (Accountant Member) ITA No.4659/Mum/2014-2009-10 ITA No.385/Mum/2016-2011-12 Dy.CIT
More informationIN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE A BENCH, BANGALORE
IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE A BENCH, BANGALORE BEFORE SMT P.MADHAVI DEVI, JUDICIAL MEMBER AND SHRI ABRAHAM P GEORGE, ACCOUNTANT MEMBER ITA Nos.220 & 1043(BNG.)/2013 (Assessment year
More information$~ * IN THE HIGH COURT OF DELHI AT NEW DELHI 14 + ITA 557/2015. versus CORAM: DR. JUSTICE S.MURALIDHAR MR. JUSTICE VIBHU BAKHRU O R D E R %
$~ * IN THE HIGH COURT OF DELHI AT NEW DELHI 14 + ITA 557/2015 COPERION IDEAL PRIVATE LIMITED... Appellant Through: Mr. Salil Kapoor and Mr. Sumit Lalchandani, Advocates. versus COMMISSIONER OF INCOME
More informationA COMPLETE ANALYSIS OF THE FINANCE ACT, 2013 PART - VI (Chapter XIII & XIV of the IT Act)
A COMPLETE ANALYSIS OF THE FINANCE ACT, 2013 PART - VI (Chapter XIII & XIV of the IT Act) Prepared by Advocates of M/s Subbaraya Aiyar, Padmanabhan & Ramamani (SAPR) Advocates 13. CHAPTER XIII Income Tax
More informationIN THE HIGH COURT OF DELHI AT NEW DELHI SUBJECT : INCOME TAX ACT, Date of Decision: 23rd February, ITA 1222/2011
IN THE HIGH COURT OF DELHI AT NEW DELHI SUBJECT : INCOME TAX ACT, 1961 Date of Decision: 23rd February, 2012. ITA 1222/2011 CIT... Appellant Through: Ms. Suruchi Aggarwal, Sr. Standing Counsel. versus
More information2 O R D E R PER SAKTIJIT DEY, J.M. Instant appeals by the assessee are directed against separate orders passed by the learned Commissioner (Appeals) 4
IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI RAJESH KUMAR, ACCOUNTANT MEMBER ITA no.5271/mum./2013 (Assessment Year : 2010 11) Plot no.612, Junction
More informationSUPREME COURT RULING (INCOME TAX)
SUPREME COURT RULING (INCOME TAX) 2016-TIOL-245-SC-IT MM Aqua Technologies Ltd Vs CIT (Dated: December 5, The assessee preferred this SLP challenging the judgment of High Court, whereby it was held that
More informationIN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH "F : NEW DELHI. Before Shri. G. E. Veerabhadrappa, VP and Shri. George Mathan, JM
IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH "F : NEW DELHI Before Shri. G. E. Veerabhadrappa, VP and Shri. George Mathan, JM ITA No. 3198/D/2004 Asst Year: 1999-2000 GE Capital Services India, AIFACS
More informationIN THE HIGH COURT OF DELHI AT NEW DELHI
IN THE HIGH COURT OF DELHI AT NEW DELHI ITA 1749/2010... Appellant Mr.Sanjeev Counsel. Sabharwal, Sr. Standing MAGIC INTERNATIONAL P LTD... Respondent Through: Dr.Rakesh Gupta with Ms.Rani Kiyala, Advocates.
More informationIN THE HIGH COURT OF KARNATAKA, BENGALURU. DATED THIS THE 14th DAY OF AUGUST, 2015 PRESENT THE HON'BLE MR. JUSTICE VINEET SARAN AND
1 IN THE HIGH COURT OF KARNATAKA, BENGALURU R DATED THIS THE 14th DAY OF AUGUST, 2015 PRESENT THE HON'BLE MR. JUSTICE VINEET SARAN AND THE HON BLE MR. JUSTICE ARAVIND KUMAR BETWEEN: ITA Nos.65/2014 C/W
More informationIN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: G NEW DELHI BEFORE SHRI G. D. AGRAWAL, PRESIDENT AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER
1 ITA Nos. 6675 & 6676/Del/2015 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: G NEW DELHI BEFORE SHRI G. D. AGRAWAL, PRESIDENT AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER ITA No. 6675/DEL/2015 ( A.Y 2013-14)
More informationIN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B, HYDERABAD
IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B, HYDERABAD BEFORE SHRI P.MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA No. 503/Hyd/2012 Assessment Year: 2008-09,
More information2. Kawasaki Heavy Industries Ltd Vs ACIT ITA No. 1321/Del/2015 dt
Recent Judgments : February March 2016 By Ms. Bhavya Rangarajan, Advocate Ms. B. Mala, Associate Subbaraya Aiyar, Padmanabhan & Ramamani (SAPR) Advocates 1. Shri B.L.Shah Vs ACIT ITA No. 910 of 2007 dt
More informationIN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGNAL CIVIL JURISDICTION WRIT PETITION NO.1017 OF 2011
PNP 1 WP1017-8.11.sxw IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGNAL CIVIL JURISDICTION WRIT PETITION NO.1017 OF 2011 The Indian Hume Pipe Co. Ltd...Petitioner. versus The Assistant Commissioner
More information[Published in 406 ITR (Journ.) p.73 (Part-3)]
1 Valuation of residential accommodation as a perquisite [Valuation of perquisite in respect of residential accommodation provided by the employer to the employee] [Published in 406 ITR (Journ.) p.73 (Part-3)]
More informationIssues in assessment proceedings. May 2017
Issues in assessment proceedings May 2017 Overview Regular assessment Intimation - 143(1) Scrutiny assessment 143(3) Best judgment assessment - 144 Income escaping assessment 147 Transfer pricing assessment
More informationAssistant Commissioner of Income Tax vs. Celerity Power LLP [2018] 100 taxmann.com 129 (Mum ITAT)
Assistant Commissioner of Income Tax vs. Celerity Power LLP [2018] 100 taxmann.com 129 (Mum ITAT) No taxable capital gains arises on conversion of a private company into LLP at book-value, notwithstanding
More informationIN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI D BENCH MUMBAI BENCHES, MUMBAI BEFORE SHRI VIJAY PAL RAO, JM & SHRI RAJENDRA, AM
IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI D BENCH MUMBAI BENCHES, MUMBAI BEFORE SHRI VIJAY PAL RAO, JM & SHRI RAJENDRA, AM Reliance Industrial Infrastructure Ltd 5 th Floor, NKM International House 178
More informationINCOME ESCAPING ASSESSMENT Landmark Judicial Pronouncements
INCOME ESCAPING ASSESSMENT Landmark Judicial Pronouncements Prashanth G S, ACA Chartered Accountant Bangalore 1 Definition Section 2(8) -"assessment" includes reassessment 2 1 Section 147 Income escaping
More informationITAT Bengaluru reaffirms payment for Adwords program as royalty in case of Google India* Global Business Tax Alert Sharp Insights
India Tax & Regulatory For private circulation only 17 May 2018 p Global Business Tax Alert Sharp Insights ITAT Bengaluru reaffirms payment for Adwords program as royalty in case of Google India* *[2018]
More informationDIRECT TAX REVIEW JUNE 2017 VERENDRA KALRA & CO. Inside this edition. Like never before
VERENDRA KALRA & CO CHARTERED ACCOUNTANTS Like always, Like never before DIRECT TAX REVIEW JUNE 2017 Inside this edition Supreme Court Judgement on Aadhaar-PAN Linkage CBDT clarified that seized assets
More informationCommissioner of Income Tax 24
vikrant 1/16 6 ITXA 1709 2014+.odt IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 1709 OF 2014 Commissioner of Income Tax 20 Shri. Deepak Kumar Agarwal
More informationIN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES D, MUMBAI. Before Shri B R Baskaran, AM & Shri Amit Shukla, JM
IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES D, MUMBAI Before Shri B R Baskaran, AM & Shri Amit Shukla, JM ITA No.1284/Mum/2013 Assessment Year : 2009-10 Dharmayug Investments Ltd. The Times of
More informationINTERNATIONAL TAXATION Case Law Update
Advocate INTERNATIONAL TAXATION Case Law Update A] HIGH COURT JUDGMENTS I. ALP of interest on amounts advanced to German AE was to be determined based on EURIBOR rate of interest and not the lending rate
More informationRANCHI CLUB LTD. IS STILL GOOD LAW [Published in 267 ITR (Jour.) p.40 (Part-5)]
1 RANCHI CLUB LTD. IS STILL GOOD LAW [Published in 267 ITR (Jour.) p.40 (Part-5)] - By S.K. Tyagi The Patna High Court in the case of Ranchi Club Ltd. Vs. C.I.T. [1996] 217 ITR 72 (Pat.), rendered a very
More informationA legitimate expenditure or relief not claimed in the return of income can be claimed ONLY by revising the return of income under section
Fresh Claim Outside The Return of Income BY:- CA. (Dr.) Gurmeet S. Grewal B. Com (Hons.), FCA, PhD., CLA (IIAM) Grewal & Singh Chartered Accountants New Delhi, Chandigarh, Yamuna Nagar, Jammu Phones: 09811242856
More informationDIRECT TAX REVIEW VERENDRA KALRA & CO OCTOBER Inside this edition. Like always, Like never before
VERENDRA KALRA & CO CHARTERED A CCOUNTANTS Like always, Like never before DIRECT TAX REVIEW OCTOBER 2018 Inside this edition AO's order rejecting ITR without providing opportunity to rectify defect u/s
More informationin NBFCs Presented by : Hitesh R. Shah Chartered Accountant 28 January
Typical Tax issues in NBFCs Presented by : Hitesh R. Shah Chartered Accountant 28 January 2013 1 It is a company registered under the Companies Act, 1956 and is engaged in the business of financing whether
More informationDIRECT TAXES Tribunal
Jitendra singh & sameer dalal Advocates DIRECT TAXES Tribunal REPORTED 1. TDS under section 194I provision for rent vis-à-vis actual payment assessee making provisions for disputed rent payable to landlord
More informationIN THE INCOME TAX APPELLATE TRIBUNAL "F" Bench, Mumbai. Before Shri B.R. Baskaran, Accountant Member and Shri Pawan Singh, Judicial Member
IN THE INCOME TAX APPELLATE TRIBUNAL "F" Bench, Mumbai Before Shri B.R. Baskaran, Accountant Member and Shri Pawan Singh, Judicial Member (Assessment Year: 2014-15) 801/806, 8th Floor, Elite Square 274,
More informationITA No.1495/Hyd/10 Four soft Limited, Hyd. ============================
IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD A BENCH, HYDERABAD Before Shri. G.C. Gupta, Vice President and Shri. Akber Basha, Accountant Member ITA No. 1495/HYD/2010 (Assessment year 2006-07) M/s. Four
More informationIN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A, HYDERABAD
IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A, HYDERABAD BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. ASHA VIJAYARAGHAVAN, JUDICIAL MEMBER ITA No. 842/HYD/2012 Assessment Year: 2007-08,
More informationIN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCHE A, PUNE BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND SHRI R.S. PADVEKAR, JUDICIAL MEMBER
IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCHE A, PUNE BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND SHRI R.S. PADVEKAR, JUDICIAL MEMBER M/s Malpani Estates, S.No.150, Malpani House, Indira Gandhi Marg,
More informationIN THE HIGH COURT OF GUJARAT AT AHMEDABAD. TAX APPEAL NO. 749 of 2012
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD TAX APPEAL NO. 749 of 2012 FOR APPROVAL AND SIGNATURE: HONOURABLE MR.JUSTICE AKIL KURESHI With HONOURABLE MR.JUSTICE J.B.PARDIWALA and HONOURABLE MR.JUSTICE A.J.
More informationKhandelwal Laboratories Pvt. Ltd. Deputy Commissioner of Income Tax 6(3)(2), Mumbai & Ors... Respondents. DATED : 17 th MARCH, 2016.
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION WRIT PETITION (L) NO. 710 OF 2016 Khandelwal Laboratories Pvt. Ltd. v/s... Petitioner Deputy Commissioner of Income Tax 6(3)(2),
More informationRE-ASSESSMENT U/S 147 (FOR DEPT. EXAM) BY S. MOHD. MUSTAFA, IRS, JCIT, TPO, CHENNAI
RE-ASSESSMENT U/S 147 (FOR DEPT. EXAM) BY S. MOHD. MUSTAFA, IRS, JCIT, TPO, CHENNAI PROVISIONS RELATING TO RE-ASSESSMENT S.147 = INCOME ESCAPING ASSESSMENT S.148 = ISSUE OF NOTICE S.149 = TIME LIMIT FOR
More informationIN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH G NEW DELHI SHRI I.C. SUDHIR, JUDICIAL MEMBER & SHRI L.P. SAHU, ACCOUNTANT MEMBER
IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH G NEW DELHI BEFORE : SHRI I.C. SUDHIR, JUDICIAL MEMBER & SHRI L.P. SAHU, ACCOUNTANT MEMBER ITA No. 2976/Del./2013 Asstt. Year : 2009-10 Silicon Graphics
More informationIN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: SMC NEW DELHI BEFORE SMT DIVA SINGH, JUDICIAL MEMBER
IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: SMC NEW DELHI BEFORE SMT DIVA SINGH, JUDICIAL MEMBER I.T.A.No.-856/Del/2014 (ASSESSMENT YEAR-2006-07) Global Realty Heritage Venture (Cochin) (P.) Ltd.,
More information* IN THE HIGH COURT OF DELHI AT NEW DELHI
* IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA No. 328/2008 Reserved on : July 23, 2009 Date of decision : July 24, 2009 COMMISSIONER OF INCOME TAX... Appellant. Through: Ms. P.L. Bansal with Ms. Anshul
More informationIN THE INCOME TAX APPELLATE TRIBUNAL G BENCH, MUMBAI
आयकर अप ऱ य अध करण G न य यप ठ म बई म IN THE INCOME TAX APPELLATE TRIBUNAL G BENCH, MUMBAI BEFORE SHRI JOGINDER SINGH, VICE PRESIDENT AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER आयकर अप ऱ स./ M/s. Shree Ganeshaya
More informationIn order to answer the aforesaid queries, the following issues will have to be examined :
1 Tax-treatment of the share of a company in the income of an AOP [Published in 351 ITR (Jour) 16] - By S.K.Tyagi Recently, an Opinion was sought by a company relating to the tax-treatment of its share
More informationThe latest guidelines from the ICAI reaffirm specific responsibilities on various stakeholders of Indian companies
Page 1 The latest guidelines from the ICAI reaffirm specific responsibilities on various stakeholders of Indian companies India tax newsletter September, 2016 In this edition of our thought leadership
More informationIN THE ITAT BANGALORE BENCH C. Vinay Mishra. Assistant Commissioner of Income-tax. IT Appeal No. 895 (Bang.) of s.p. no. 124 (Bang.
IN THE ITAT BANGALORE BENCH C Vinay Mishra v. Assistant Commissioner of Income-tax IT Appeal No. 895 (Bang.) of 2012 s.p. no. 124 (Bang.) of 2012 [ASSESSMENT YEAR 2009-10] OCTOBER 12, 2012 ORDER Jason
More informationdirect TaXES High Court
ashok Patil, Mandar Vaidya & Priti Shukla Advocates direct TaXES High Court Reported 1. Power of Commissioner appeals Sec. 112(1) Legal issue raised for first time during appeal proceedings Held that Commissioner
More informationIN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B, HYDERABAD BEFORE SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER AND SHRI SAKTIJIT DEY, JUDICIAL MEMBER
IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B, HYDERABAD BEFORE SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER AND SHRI SAKTIJIT DEY, JUDICIAL MEMBER ITA No. 1743/Hyd/2013 Assessment Year : 2009-10 Bellwether
More informationM/s. Ultratech Cement Ltd. The Additional Commissioner of
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 1060 OF 2014 M/s. Ultratech Cement Ltd... Appellant v/s. The Additional Commissioner of Income Tax,
More informationTax Bulletin. Vispi T. Patel & Associates. Chartered Accountants. #10, 3rd Floor, Dwarka Ashish Apartment,
Tax Bulletin Vispi T. Patel & Associates Chartered Accountants #10, 3rd Floor, Dwarka Ashish Apartment, Jambul Wadi, Opp. Edward Cinema, Kalbadevi Road, Marine Lines, Mumbai 400 002 Email ID: vispitpatel@vispitpatel.com
More informationIN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES A, HYDERABAD BEFORE SHRI D. MANMOHAN, VICE PRESIDENT AND SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER
IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES A, HYDERABAD BEFORE SHRI D. MANMOHAN, VICE PRESIDENT AND SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER I.T.A. No. 1149/HYD/2015 Assessment Year: 2008-09,
More informationIN THE INCOME TAX APPELLATE TRIBUNAL BENCH 'B' NEW DELHI. ITA Nos.2337 & 4337/Del/2010 Assessment Years: &
IN THE INCOME TAX APPELLATE TRIBUNAL BENCH 'B' NEW DELHI ITA Nos.2337 & 4337/Del/2010 Assessment Years: 2006-07 & 2007-2008 DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-11(1), NEW DELHI Vs M/s ENERGY INFRASTRUCTURE
More informationG.A no.1150 of 2015 ITAT no.52 of 2015 IN THE HIGH COURT AT CALCUTTA Special Jurisdiction (Income Tax) ORIGINAL SIDE
G.A no.1150 of 2015 ITAT no.52 of 2015 IN THE HIGH COURT AT CALCUTTA Special Jurisdiction (Income Tax) ORIGINAL SIDE Commissioner of Income Tax, Kolkata-2 Versus M/s. G K K Capital Markets (P) Limited
More informationJ.B. NAGAR CPE STUDY CIRCLE STUDY GROUP MEETING RECENT IMPORTANT JUDGMENTS IN DIRECT TAX
J.B. NAGAR CPE STUDY CIRCLE STUDY GROUP MEETING 03.09.2016 RECENT IMPORTANT JUDGMENTS IN DIRECT TAX - BY SHRI JITENDRA SINGH, ADVOCATE A. SUPREME COURT DECISIONS: (i) Sec. 148 r.w.s. 22 Notice issued under
More informationIN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH. M/s Lakhani Marketing Incl., Plot No.131, Sector 24, Faridabad
1 IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH Commissioner of Income Tax, Faridabad Vs. ITA No.970 of 2008 (O&M) Date of decision:02.04.2014 Appellant M/s Lakhani Marketing Incl., Plot No.131,
More informationValidity of reopening of assessments
Validity of reopening of assessments [Reopening of assessments is valid only on fulfilment of strict conditions as per relevant legal provisions / precedents] [Published in 363 ITR (Journ.) p.46 (Part-4)]
More informationIN THE HIGH COURT OF DELHI AT NEW DELHI SUBJECT : INCOME TAX ACT, 1961 Date of decision: ITA 232/2012
IN THE HIGH COURT OF DELHI AT NEW DELHI SUBJECT : INCOME TAX ACT, 1961 Date of decision: 22.11.2012 ITA 232/2012 COMMISSIONER OF INCOME TAX IV Through Mr. Kamal Sawhney, Sr. Standing Counsel... Appellant
More informationIN THE HIGH COURT OF DELHI AT NEW DELHI SUBJECT : INCOME TAX ACT. Reserved on: 19th March, Date of Decision: 25th April, 2014
IN THE HIGH COURT OF DELHI AT NEW DELHI W.P.(C) 3891/2013 SUBJECT : INCOME TAX ACT Reserved on: 19th March, 2014 Date of Decision: 25th April, 2014 SAMSUNG INDIA ELECTRONICS PVT. LTD... Petitioner Through
More informationTHE HIGH COURT OF DELHI AT NEW DELHI
THE HIGH COURT OF DELHI AT NEW DELHI % Judgment delivered on: 28.11.2011 + ITA 938/2011 COMMISSIONER OF INCOME TAX... Appellant versus AMADEUS INDIA PVT LTD... Respondent Advocates who appeared in this
More informationIN THE INCOME TAX APPELLATE TRIBUNAL L BENCH: MUMBAI
IN THE INCOME TAX APPELLATE TRIBUNAL L BENCH: MUMBAI BEFORE SHRI R. S. PADVEKAR, JUDICIAL MEMBER AND SHRI R.K. PANDA, ACCOUNTANT MEMBER ITA No.442/Mum/2009 (Assessment year: 2005-06), Devidas Mansion,
More informationFacts of the case: Tribunal's decision:
March 2014 1. Transfer Pricing DIRECT TAX UPDATE a. Case law - Panasonic AVC Networks India Co. Limited [ITA No. 4620/Del/2011] KNAV is a firm of International Accountants, Tax and Business Advisors. Presence
More informationVs. Date of hearing : Date of Pronouncement : O R D E R
IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH F, MUMBAI BEFORE SHRI RAJENDRA SINGH, ACCOUNTANT MEMBER AND SHRI AMIT SHUKLA, JUDICIAL MEMBER ITA No. 5720/Mum/2011 Assessment Year : 2004-05 M/s. Forever
More informationCA Mahendra Sanghvi CA MAHENDRA SANGHVI
-By CA Mahendra Sanghvi 1 Reasons for amendment: After demonetization, some officials said in news that penalty @ 200% shall be levied on unreasonable & disproportionate Income of cash deposited. Having
More informationCORAM: HONOURABLE MR.JUSTICE AKIL
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD SPECIAL CIVIL APPLICATION NO. 5848 of 2010 TO SPECIAL CIVIL APPLICATION NO. 5850 of 2010 FOR APPROVAL AND SIGNATURE: HONOURABLE MR.JUSTICE AKIL KURESHI and HONOURABLE
More informationIN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 27 TH DAY OF JULY 2015 PRESENT THE HON'BLE MR. JUSTICE VINEET SARAN AND
1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 27 TH DAY OF JULY 2015 PRESENT THE HON'BLE MR. JUSTICE VINEET SARAN AND THE HON BLE MR. JUSTICE A.V.CHANDRASHEKARA BETWEEN ITA NO.374/2014 C/W
More informationCIVIL APPELLATE/ORIGINAL JURISDICTION CIVIL APPEAL Nos OF 2004
IN THE SUPREME COURT OF INDIA CIVIL APPELLATE/ORIGINAL JURISDICTION CIVIL APPEAL Nos. 516-527 OF 2004 Brij Lal & Ors.... Appellants versus Commissioner of Income Tax, Jalandhar... Respondents with Civil
More informationPayment of Export commission to Non-Resident Agent :-
Common Disputes:- Payment of Export commission to Non-Resident Agent :- Relevant Bare Act, Rules & Circulars:- Other Sums 195. [(1) Any person responsible for paying to a non-resident, not being a company,
More informationREASSESSMENTS WITH SPECIAL REFERENCE TO RECENT DEVELOPMENTS AND PRACTICLE ASPECTS THERETO
REASSESSMENTS WITH SPECIAL REFERENCE TO RECENT DEVELOPMENTS AND PRACTICLE ASPECTS THERETO By H. N. Motiwalla Chartered Accountant HNM 1 Income Escaping Assessment (S. 147) Income Escaping Assessment (S.
More informationINDIA TRANSFER PRICING UPDATES MARCH 2019
Uday Ved Global Tax Partner INDIA TRANSFER PRICING UPDATES MARCH 2019 KNAV Thought Leadership has started an initiative to publish a monthly newsletter dedicated to transfer pricing updates and amendments
More informationRECOVERY PROCEEDINGS UNDER INCOME TAX ACT, 1961
RECOVERY PROCEEDINGS UNDER INCOME TAX ACT, 1961 By Shri Jitendra Singh, Advocate M-3, Mezzanine Floor, Court Chambers, 35, New Marine Lines, Mumbai 400020 Telephone No: (022) 49737379 Mobile No.: +91 9975750130
More information