No TDS is required to be deducted by purchaser even if consideration of property exceeds Rs 50 lakh but every co-owner share is less than Rs 50 Lakh:- ITAT Income Tax Appellant Tribunal ( ITAT), Delhi in case of Vinod Soni Vs ITO ITA No 2736/Del/2015 has held that Each transferee is a separate income… Read More »
HIGH COURT OF MADRAS Deputy Commissioner of Income Tax v. Visvas Promoters (P.) Ltd. DR. VINEET KOTHARI AND MRS. T. KRISHNAVALLI, JJ. W.A. (MD) NO. 1051 OF 2011 MARCH 27, 2019 Mrs. S. Srimathy, Ld. Standing Counsel for the Appellant. Venkatesh and A. Shivaji for the Respondent. JUDGMENT Dr. Vineet Kothari, J. – The Revenue Department has filed this Intra Court Appeal against… Read More »
Purchase of software being copyrighted article would not be covered by the term ‘royalty’ under section 9(1)(vi). Where the assessee did not acquire any copyright in the software, is not covered under Explanation 2 to section 9(1)(vi). Further; amended definition of ‘royalty’ under the domestic law cannot be extended to the definition of ‘royalty’ under DTAA, where… Read More »
When the Paddy in the husk is converted into Rice by the process of dehusking, by manual or mechanical process it cannot be said, by any stretch of imagination that there is no transformation of article. A husked Paddy is not a de-husked Rice, and not only the form undergoes a change but also the… Read More »
A simpliciter payment towards hiring charges of cranes cannot be brought within the sweep of the definition of the term “work” as envisaged in Sec. 194C of the IT Act. IN THE ITAT AMRITSAR BENCH Bhangal Construction Co. v. Income-tax Officer, Ward-1, Phagwara N.K. SAINI, VICE-PRESIDENT AND RAVISH SOOD, JUDICIAL MEMBER IT APPEAL NO. 587 (ASR.) OF… Read More »
The assessing officer has disallowed the commission paid to foreign agents by holding that the income arising on account of commission paid to overseas agents was deemed to accrue or arise in India and was accordingly taxable under the provision of section 5(2)(b) r.w.s. 9(1)(i) of the act and the assessee has failed to make… Read More »
The issue of a notice under Section 148 of the Act is a foundation for reopening of assessment. The sine qua non for acquiring jurisdiction to reopen an assessment is that such notice should be issued in the name of the correct person. This requirement of issuing notice to a correct person and not to… Read More »
IN THE ITAT JAIPUR BENCH St. Wilfred Educational Society v. Principal Commissioner of Income-tax (Central), Rajasthan VIJAY PAL RAO, JUDICIAL MEMBER AND VIKRAM SINGH YADAV, ACCOUNTANT MEMBER IT APPEAL NOS. 09 & 10 (JP) OF 2019[ASSESSMENT YEAR 2014-15] MARCH 18, 2019 Dilip Shivpuri, Adv. and Rohit Badaya, CA for the Appellant. Varinder Mehta, (IT-DR) for the Respondent. ORDER Vikram Singh Yadav,… Read More »
CIT(Appeals) cannot travel beyond the subject matter of the appeal, which in the present case is as to, whether fee u/s. 234E of the Act can be levied or not; and not the question, whether the return of TDS filed by the assessee is non est in law? We are, therefore, of the view that the… Read More »
In the instant case, once the assessee is in receipt of PAN and has not deducted TDS, it has complied with the first statutory obligation cast upon him and the assessee cannot be penalized for non-deduction of TDS. The provisions of section 40(a)(ia) which are deeming fiction relating to non-deduction of TDS have to be… Read More »