The applicant has posed the following questions, seeking a ruling from this Authority: (i) Based on the above facts, Salary paid by the applicant to the assignee, Mr. T.N. Santhosh Kumar in India, is not liable to be taxed in India in FY 2011-12 having regard to the provisions of the Act and the relevant… Read More »
[2018] 22122017 TaxHeal.com 21022018 income tax HIGH COURT OF MADRAS Rapid Care Transcription (P.) Ltd. v. Income Tax Officer, Corporate Ward 5(4), Chennai T. S. SIVAGNANAM, J. WRIT PETITION NO. 33765 OF 2017 W.M.P NOS. 37408 AND 37410 OF 2017 DECEMBER 22, 2017 K. Jayachandran for the Petitioner. Mrs. Hema Muralikrishnan, Sr. Standing Counsel for the Respondent. ORDER 1. Heard… Read More »
Issue CIT(A) confirmed addition of Rs. 22,57,632 on account of jewellery u/s. 69A of the Income Tax Act, 1961. Held CBDT Instruction 1916 dated 11-05-1994 “Instances of seizure of jewellery of small quantity in the course of operation under section 132 have come to the notice of the Board. The question of a common approach… Read More »
Held This Court has found that there has been an agreement between the two Heads of Department and the petitioner cannot plead for an opportunity to be granted before an order of transfer, as there is no such statutory requirement under the Act, rather, the said procedure has been specifically excluded. [ 2017 ] 05122017… Read More »
Held The subsidy scheme in the West Bengal case is similar to the scheme in the Maharashtra case being to encourage development of Multiplex Theatre Complexes which are capital intensive in nature, and since the subsidy scheme in that case is also similar to the Maharashtra cases, in that the amount of entertainment tax collected… Read More »
SC extends deadline for linking of Aadhaar with mobile no. & opening of Bank Accout till 31.03.2018 REPORTABLE IN THE SUPREME COURT OF INDIA CIVIL ORIGINAL JURISDICTION WRIT PETITION (CIVIL) NO 494 OF 2012 JUSTICE K S PUTTASWAMY (RETD ) AND ANR ….. PETITIONERS Versus UNION OF INDIA AND ORS ….. RESPONDENTS WITH T C… Read More »
Issue : Instruction No.3 of 2011 dated 9.2.2011, provids for appeals not to be filed before the High Court(s) where the tax impact was less than Rs.10 lakh. The Instruction/Circular in question is stated to have a prospective effect as per the Revenue and, thus, cases which were pending in the High Court(s) and had been… Read More »
Held Even though the net profit / loss arising from the purchase and sale of securities was disclosed by the assessee in the profit and loss account, the value of such securities held by the assessee was fully and truly disclosed by the assessee under the head investment in the relevant balance sheet.The said method… Read More »
Held In the case of Binoy Viswam, it would clearly show that the Hon’ble Supreme Court has not stayed the Proviso to Sub-Section (2) of Section 139AA of the Act and the partial stay would be applicable only to facilitate the other transactions, which are mentioned in Rule 114B of the Rules, which pertains to transactions, in… Read More »
Income Tax ICDS provisions The Central Government cannot do what is otherwise legally impermissible. Therefore, the following provisions of ICDS are held as ultra vires and are liable to be struck down:- (1) ICDS I : It does away with the concept of ‘prudence’ and is contrary to the Act and to binding judicial precedents. Therefore, it is… Read More »