Excise - Dutiability - Marketability - Burden of proof - Section 2(d) of the Central Excise 1944 (the Act) - Assessee, a manufacturer of footwear, manufactured double textured fabric, a rubberised, used as upper material in the manufacture of foot we..
Taxation- TDS Obligation - Assessee made remittance to non - resident company without deducting TDS - AO considering it "fees for technical services" held him liable as assessee in default for not deducting TDS - CIT reversed assessment order - Hence..
Direct taxation - Chargeability of Income - Credit of TDS - Assessee, clearing and forwarding agent - Filed income tax return and was accepted under Section 143(1)(a)- Due to some discrepancy in total gross receipts as per TDS certificate and that sh..
The assessee purchased US-64 Units of the UTI in May 1990 for Rs. 3.75 crs, received dividend thereon of Rs. 45 lakhs and sold the units in July 1990 for Rs. 3.25 crs. The assessee claimed that deduction u/s 80M was available on the dividend and tha..
TDS - Assessee company incorporated in India, is a wholly owned subsidiary of the company incorporated in Netherlands, was engaged in the business of dredging, contracting, reclamation and marine activities - Appellant filed an application with DCIT ..
Direct Taxation - Offence by Companies - Willful attempt to evade tax - Concealment of taxable income - Section 276C and Section 278B of Income Tax Act - Trial Court issued process against Applicant-accused on a complaint by Respondents that Applican..
Bye-laws have not been examined by the Assessing Officer or Bye-laws were not produced before the Assessing Officer - the assessee is not entitled to claim benefit of deduction under Section 80P(2)(a)(vi) of the Act- – matter remanded...
A short question which arises for determination in this civil appeal is – whether the Income Tax Appellate Tribunal was, on the facts and circumstances of this case, justified in upholding the order of the Commissioner of Income Tax (Appeals) directi..
CA Computer Associates Pvt. Ltd. (assessee) was incorporated during the year 1998 and was a 100 % subsidiary of Computer Associates International Inc. USA (CA – USA). The assessee was primarily engaged in the business of (i) licensing mainframe midra..
The issue before the SB was that, while computing the amounts eligible for tax holiday under the Indian Tax Law (ITL), whether the losses of an undertaking of the Taxpayer which is not eligible for tax holiday (Non-eligible Undertaking), are required..
In respect of AY 2003-04, the assessee had an unit in Chennai which was engaged in software development and whose profits were eligible for deduction u/s 10A. The assessee had another unit in Delhi which was engaged in trading and had suffered a loss..
the issue of determining arm’s length price (ALP) of royalty paid by the Taxpayer to its associated enterprise for distribution of software products in India. The ITAT held that the disallowance made by the Transfer Pricing Officer (TPO) to the royal..
The High Court has no power to condone delay in filing appeal. S.5 of the Limitation Act, 1963 was not applicable in appeals filed under s.260A. ..
S. 2 (24) (x) provides that amounts received by an assessee from employees towards PF contributions etc shall be “income”. S. 36 (1) (va) provides that if such sums are contributed to the employees account in the relevant fund on or before the due da..
Recourse to the power under Section 147 cannot be sustained on a mere change of opinion where there is no failure of the assessee to disclose fully and truly, all material facts necessary for assessment...
It is not the requirement of law that the income assessable should be in the hands of a person who is neither the legal owner nor the beneficial owner. Even if the land is owned by the shareholders, since the super structure constructed by the Compan..
Executive Summary: - In absence of Supreme Court’s order staying operations of High Court’s judgment relating to levy of service on renting of immovable property, Revenue Department could not instruct its officers to pursue the matter with tax payers..
The Supreme Court has ruled that it is mandatory for the Income Tax Department to issue notice within the prescribed time limit of one year where the assessing officer in repudiation of the block return filed by the assessee proceeds for an inquiry...
In order to make an addition on the basis of surrender during search or survey, it is sine qua non that there should be some other material to co-relate the undisclosed income with such statement. ..
Rule 5 of the Settlement Commission Procedure Rules provides that the settlement application shall be presented in the form no.34(b), which provides that alongwith the application there should be confidential information in the annexure. Rule 6 provi..
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