About Direct Tax Laws, Corporate Laws & Indirect Laws

[...] , it could not be said that there was a transfer of asset as alleged by the department. 3)The instant case was not of tax avoidance as in the instant case assessee gave the loan to his wife and the [...]

[...] delivery could not be considered as turnover for purpose of section 44AB. Facts: In the instant case, the controversy revolved around as to whether online transactions of future commodities made [...]

[...] Facts: a)The international transaction which was disputed in the instant case was commission payment by the assessee to its AEs. b)The TPO held that ALP of this transaction [...]

[...] in India and, thereafter, up-linked/transmitted to foreign service recipient. In the instant case, foreign service recipient had received output service and had made payment in convertible [...]

[...] the NDMC. On appeal, the CIT (A) upheld the order of AO. The aggrieved assessee filed the instant appeal. The Tribunal held in favour of assessee as under: 1)In the instant case, the assessee had [...]

[...] )On appeal, the CIT(A) upheld order of the Assessing Officer. The aggrieved assessee filed the instant appeal. The Tribunal held in favour of assessee as under: 1)The payment made to non-resident for [...]

[...] method from project completion to percentage completion. The aggrieved revenue filed the instant appeal before Tribunal. The Tribunal held in favour of revenue as under: 1)The CIT(A) had agreed [...]

[...] to believe that there was an escapement of income of Rs 10 lakhs on part of assessee. b)The instant appeal was filed against validity of reassessment proceedings. The Tribunal held in favour of [...]

[...] goods. 2)In Union of India v. Indian Aluminium Co. Ltd. 1995 (77) ELT 268 (SC), the Supreme Court agreed with the reasons and conclusions of the Single Judge and confirmed the view taken in [...]

[...] Court and the appellate authorities. e)Aggrieved assessee filed the instant appeal before the Supreme Court. The Supreme Court held in favour of revenue as under- 1)A conjoint reading of the various [...]

[...] to be prospective”. Facts: The question of law that arose for consideration before the Supreme Court was as to whether the proviso to Section 113 inserted by the Finance Act, 2002 was to operate [...]

[...] the addition made by the Assessing Officer on account of 'AAD', in spite of the Hon'ble Supreme Court's ruling ( in case of National Hydroelectric Power Corpn. Ltd v. CIT [2010] 187 TAXMAN 193) [...]

[...] ) within prescribed period cannot be cured by taking recourse to section 292BB. Facts: a)The Assessing Officer issued a notice under section 143(2) to assessee. Thereafter assessment proceedings were [...]

[...] under Notification Nos. FD 117 CSL 2001(I) and FD 117 CSL 2001 (II), dated 26-7-2001 b)The Assessing Officer held that the vibratory compactor would not come within the purview of earth mover and [...]

[...] incentive was given to any employees during the year. e)On basis of such an enquiry, the Assessing Officer held that the activities of LO were not limited to preparatory or auxiliary activities in [...]

[...] is for the purpose of administrative convenience. The said provision does not empower the Assessing Officer to transfer a case from his jurisdiction to that of another and even when the Director [...]

[...] the definition of 'international transaction' brings to light that for treating any transaction as an international transaction, it [...]

[...] pricing legislation contemplates determination of arm's length price ('ALP') of an international transaction, which means for each transaction separately. The term 'transaction' has been defined in [...]

[...] Longer credit period to AE is 'international transaction' in terms of Explanation to section 92(1) but same is 'closely linked' to international [...]

[...] Facts: a)The international transaction which was disputed in the instant case was commission payment by the assessee to its AEs. [...]

[...] Neither any regulation of SEBI nor clause 35 of the Listing Agreement casts an obligation on promoter to make disclosures of shares encumbered to listed company. [...]

[...] As per clause 16 of 'Listing agreement' time gap of 30 days is intended to be between two book closures and two record dates and [...]

[...] market, as prevalent in other jurisdictions. 2)Insertion of uniform regulation in place of listing agreement: SEBI has approved of conversion of Listing Agreement to Listing Regulations. Listing [...]

[...] for interest was rejected by Dy. CIT on the ground that there was no provision in the Income-tax Act (‘the Act’) to grant interest on interest. The High Court held in favour of assessee [...]

[...] any time-limit. Facts: a)The Tribunal had deleted addition made under section 68 of the Income-tax Act, 1961 (herein after referred to as ‘Act’) by the Assessing Officer (AO) on the grounds that [...]

[...] , hence, disallowed the said claim by invoking the Explanation to Sec. 37(1) of the Income-tax Act (‘I-T Act’). On appeal, the CIT(A) deleted the disallowance made by AO. The aggrieved [...]

[...] violation of the mandatory procedural requirements of the provisions in Chapter XIXA of the Income-tax Act, 1961, and/or violation of the rules of natural justice were made out; or ii)If it was found [...]

[...] It has been brought to the notice of CBDT that during assessment proceedings, the Assessing Officers were routinely calling for information, which was not relevant [...]

[...] : a)The assessee was carrying on business of Third Party Administrator (TPA). During the assessment proceedings, the Assessing Officer (‘AO) noted that the assessee had paid certain amounts to [...]

[...] reason, assessee was entitled to deduction under section 54B Facts: a) During assessment proceedings the Assessing Officer (‘AO’) noticed that proceedings under section 153C were [...]

[...] applied to decide deduction to be allowable to a trust or an Institution while completing assessment proceedings. Facts: a) In the instant case, one of the objects of the trust was limited to the [...]

[...] a reference to Transfer Pricing Officer for determining the arm's length price of the international transactions. Thereafter an order was passed by the AO raising additional demand. b)The assessee [...]

[...] Transactions between head office and its foreign branch could not be deemed as international transactions under Section 92B since branch office was not a separate entity distinct from assessee- [...]

[...] consolidated basis. 3) In the instant case, the clubbing of royalty payment with other international transactions for processing them in a combined TNMM approach, would defeat the mandate of the [...]

[...] obligation cast upon the promoter to make such disclosures to the listed Company? The Securities Appellate Tribunal held as under: 1)Since neither any regulation of SEBI nor clause 35 of the Listing [...]

[...] to four months. c)The assessee challenged said order by filing an appeal before the Securities Appellate Tribunal. While the said appeal was pending, the SEBI issued a circular whereby it agreed to [...]

[...] 16 and, accordingly, called upon appellant to comply with it. On appeal the Securities Appellate Tribunal held as under: 1)On perusal of clause 16 of ‘Listing Agreement’ it was seen that [...]