law defined whether income cannot be reassessed on a mere change of opinion, as that would imply conferring arbitrary powers on the Tax Authority. It is only when there is a ‘tangible material’ to believe that income has escaped assessment that the p..
whether a particular contract is a contract for sale or for work and labour is always a difficult question and it is not surprising to find the taxing authorities divided on it. The difficulty, however, lies not in the formulation of the tests for de..
If Settlement Commission fails to comply with mandate of law, such orders passed in violation of section 245D(4) cannot be said to be legally sustainable. ..
In view of Section 66A, offshore services cannot be subjected to service tax prior to April 18, 2006, the high court said, adding that before enactment of Section 66A, there was no authority vested by law in the revenue to levy service tax on a perso..
The assessee was engaged in two different activities of sale and purchase of shares. The first set of transactions involved investment in shares in which the assessee took delivery of the shares. The second set of transactions involved dealing in sha..
in the present case, there has been clear instructions in the challans filed by the petitioner specifying the heads of payment under the ‘tax due’ and the ‘interest due’, no such plea as the petitioner contends, on the facts of the present case, is a..
he Assessing Officer was not satisfied with the explanation given by the assessee. He observed that royalty payment mentioned above is payable to M/s.Columbia Tristar Films of India (CTFI). The relevance of the copy of agreement furnished was not exp..
How much tax is paid by the foreign AE is not relevant in the determination of correct tax liability in the hands of the Indian enterprise; what is material is that the rightful tax payable in India should not suffer due to the adjustment of price fo..
When the AO has reopened the same very issue which is under revision and has examined all the details and after verifying and being satisfied, has taken a plausible view, how can his order be treated as erroneous simply because in his order, he has n..
The BSE Card is not an Intangible Asset within the meaning of section 32 of Income Tax Act, and hence not eligible for depreciation..
Penalty on Disallowance of certain expenses- Not Leviable, False Claim of Deduction - Penalty Leviable and Inadvertent Error- Not Leviable..
Copper/Aluminium Conductor, Impeller and Bulldozer as well as cold frame sections can be treated as capital goods under Rule 57Q of Central Excise Rules, 1944. Question whether a particular good is a Capital Good or not has to be decided in context o..
Service Tax – Renting of immovable property – the tax is on any service in relation to renting not renting per se ; no tax on renting: we have to understand as to whether renting of immovable property for use in the course or furtherance of business ..
in the case of a non-resident, no income shall be deemed to accrue or arise in India to him through or from operations which are confined to the purchase of goods in India for the purpose of export..
The licence of the petitioner is obtained from the Government of India which is the same as the licence given also to various private telecom operators which entitles the BSNL to carry the activity of operating telegraph limited to the scope of <
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The fact that very old stamp papers of different dates have been used, may certainly be a circumstance that can be used as a piece of evidence to cast doubt on the authenticity of the agreement, but that cannot be a clinching evidence. ..
AAR wishes Ikea’s Indian Liaison Office a tax free New Year ..
271(1)(c) penalty to levied only on recorded satisfaction in the assessment order...
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