CIT vs. Meghalaya Steels Ltd (Supreme Court)
S. 260A: High Courts, being Courts of Record under Article 215, have the inherent power of review. There is nothing in s. 260A(7) to restrict the applicability of the provisions of the CPC to s. 260A appeals
High Courts being Courts of Record under Art. 215 of the Constitution of India, the power of review would in fact inhere in them. Section 260A(7) only states that all the provisions that would apply qua appeals in the Code of Civil Procedure would apply to appeals under Section 260A. That does not in any manner suggest either that the other provisions of the Code of Civil Procedure are necessarily excluded or that the High Court's inherent jurisdiction is in any manner affected
First Blue Home Finance Ltd vs. DCIT (ITAT Delhi)
Transfer Pricing: The allotment of shares/ receipt of share application money by the assessee from the AE for a price less than the book value of the shares cannot be regarded as a "deemed loan" by the assessee to the AE and notional interest cannot be imputed thereon
Though the international transaction on capital account per se cannot call for any addition on account of transfer pricing adjustment because of the absence of any provision under the Act charging income from such transactions, but the transactions flowing out of such original transaction on capital account, having impact on the profitability of the assessee, would be required to pass the mandate of Chapter-X of the Act. In other words, if such offshoot transactions of the original transaction on capital account, such as, interest or depreciation are not at arm's length price, then it is mandatory to determine their ALP and make addition, if any, on account of transfer pricing adjustment
CBDT Notification On Computation Of Period Of Stay In India U/s 6(1)
The CBDT has issued a Notification dated 17.08.2015 in which it has laid down rules on the computation of period of stay in India in certain cases. The rules come into effect with retrospective effect from 01.04.2015
CBDT Directive Reg Representation Before Authority For Advance Rulings
The CBDT has issued a directive dated 14.08.2014 in which it has expressed concern that officers of the level of DCIT/ACIT are being nominated for representing cases before the Authority of Advance Rulings and that such officers are not able to effectively represent the Departmental view on complex issues
CBDT Circular Of Clarifications On Grant Of Approval And Claim Of Exemption u/s 10(23C)(vi)
The CBDT has issued Circular No. 14/2015 dated 17.08.2015 in which it has provided important clarification on various issues related to grant of approval and claim of exemption u/s 10(23C)(vi) of the Income-tax Act, 1961
Question Of Imposition Of Service Tax On Advocates
Shri. Akhilesh Kumar Sah, Advocate, has analyzed the controversy relating to the imposition of service-tax on Advocates and explained the contrasting view points of the contesting parties
Regards,
Editor,
---------------------
Latest:
CIT vs. Bhagat Construction Co. Pvt. Ltd (Supreme Court)
S. 234B interest is automatic if conditions are met. Form I.T.N.S. 150 is a part of the assessment order and it is sufficient if the levy of interest is stated there
__._,_.___
No comments:
Post a Comment