Where show-cause notice under section 274 to assessee was defective as it did not spell out grounds on which penalty was sought to be imposed, order imposing penalty was invalid and, consequently, penalty imposed was to be cancelled IN THE ITAT BANGALORE BENCH ‘A’ H. Lakshminarayana v. Income-tax Officer N.V. VASUDEVAN, JUDICIAL MEMBER AND JASON… Read More »
Definition of ‘royalty’ could not be applied to purchase of software by assessee which did not involve any commercial exploitation thereof Latest Books on TDS IN THE ITAT BANGALORE BENCH ‘C’ Deputy Commissioner of Income-tax v. WS Atking India (P.) Ltd. N.V. VASUDEVAN, JUDICIAL MEMBER AND ABRAHAM P. GEORGE, ACCOUNTANT MEMBER IT APPEAL NO. 1467… Read More »
Section 36(1)(iii) of the Income-tax Act, 1961 Where assessee having taken loan from bank, gave interest free advance to his son which was not utilised for assessee’s business purpose, Assessing Officer was justified in disallowing interest parallel to bank interest rate on said interest free advance IN THE ITAT CHANDIGARH BENCH ‘SMC’ Jagat Singh v.… Read More »
The nature of work is that the assessee is approached by certain parties for issuance of this standard certificate. The process of evaluation in the form of audit of activities undertaken by the clients is carried out through the audit parties of the assessee. Based on the report of such audit party, a certificate to… Read More »
ANNUAL FILING COMPLIANCE UNDER COMPANIES ACT 2013 [table id=21 /] All signed documents are required to be attached with the e-forms
Where Assessing Officer proceeded to calculate agricultural income on basis of agricultural income declared by assessee for assessment year 1998-99 instead of assessment year 2001-02 which was a closer assessment year and made addition, same was to be deleted HIGH COURT OF KARNATAKA S.L. Basavaraj (HUF) v. Assistant Commissioner of Income-tax, Circle-1, Shimoga VINEET SARAN… Read More »
Where assessee trust could have both charitable and religious objects, registration under section 12AA was to be granted to assessee IN THE ITAT CHENNAI BENCH ‘D’ Gilgal Mission India v. Income-tax Officer N.R.S. GANESAN, JUDICIAL MEMBER AND A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER IT APPEAL NO. 3067 (MDS.) OF 2014 JULY 10, 2015 A.S. Sriraman for… Read More »
TDS on Bill management services Where assessee made payments towards bill management services, since said services were not in nature of professional services, rather it was a case of service contract, provisions of section 194J would not apply and, tax was required to be deducted under section 194C in respect of said payments HIGH COURT… Read More »