Q: When Gift from unknown person is taxable ? Where donor and donee (assessee) were not known to each other, mere declaration by donor that gift was made out of love and affection was not sufficient; Assessing Officer was justified in treating said gift as income under section 68 HIGH COURT OF DELHI Pawan Kumar… Read More »
No TDS on sum paid for repairing of aircraft where the fees are payable in respect of services utilised in a business or profession carried on by such person outside India or for the purposes of making or earning any income from any source outside India Q; When Assessee engaged in wet leasing of aircrafts to foreign… Read More »
Book profit u/s 115JB to be reduced by Exempted Capital gain Q; Whether the profit arising on transfer of development rights to the fully owned subsidiary company is required to be included in the book profit under Section 115JB of the Income Tax Act, 1961(the Act) ? If a receipt/gain is not “income” within the… Read More »
Question: Where the Assessee is not conducting any business activity and not providing service to any trade, commerce or industry, it is eligible for exemption under section 11 ? It is BCCI, the parent organization, which is organizing and conducting T-20, one-day matches or IPL matches. The role of the assessee-society(TNCA) is only to provide stadium… Read More »
Govt Notified ITNS 284 Challan for Depositing taxes under Black Money click to download ITNS 284
Q : Whether the amounts paid by the ONGC to the non-resident assessees/foreign companies for providing various services in connection with prospecting, extraction or production of mineral oil is chargeable to tax as “fees for technical services” under Section 44D read with Explanation 2 to Section 9(1)(vii) of the Income Tax Act or will such payments… Read More »
Assessee couldn’t demand notice for increasing penalty when when he didn’t appear in proceedings Q Assessee did not appear before tribunal despite notice of revenue appeal . Can he claim that Tribunal should have issued another notice prior to enhancement of penalty ? Where assessee did not appear before Tribunal despite notice of revenue’s appeal, assessee cannot… Read More »
personal penalty on directors Q : Whether penalty can be imposed on directors, when issue involved is one of interpretation of law and there is no loss to the revenue ? Personal penalty under rule 26(1) of Central Excise Rules, 2002 cannot be imposed on directors, when issue involved is one of interpretation of law and entire situation… Read More »
Q : Whether daily wage earner can be an authorised agent of assessee ? Whether the service of order to the daily wage earner is valid ? Daily wager Kitchen boy cannot be said to be an authorised agent of assessee; hence, service of adjudication order on him is not a valid service as per… Read More »
High Court power to review its own judgment Q: Whether High Court has inherent power to review its own judgment ? OR Q Whether only those provisions of the Civil Procedure Code could be looked into for the purposes of Section 260A as were relevant to the disposal of appeals, and since the review provision contained… Read More »