Recent Posts

Recent Posts

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Last week the ITAT delivered its verdict on Transfer Pricing Aspects of Vodafone-Hutch deal. Please find an in-depth Analysis at this link https://www.linkedin.com/pulse/vodafone-hutch-tax-saga-part-2-nilesh?trk=prof-post
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Discussion / Interest income- To process under head "Business income"
« Last post by rajul5234 on December 13, 2014, 09:18:45 am »
Shipra ship builders, GUJ . H C .  Tax appeal 1281 / 2006. Dt. 1/12/14.

Mandatory eposit interest to be processed as business income and not as income from other sources.

R K Patel.
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Discussion / Scope of adjustment u/s 143(1)(a)
« Last post by rajul5234 on December 13, 2014, 09:16:17 am »
GUJ H C . Ellora time. T A 1024 / 2005. DT. 2/12/14.

Held, Adustments cannot be made invoking  variations in S. 80HHC and S. 115JA for levy of interest u/s 234B & C while exercising jurisdiction u/s 143(1)(a).

R K Patel.
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Discussion / s. 80HHC. Interest from EEFC a/c.
« Last post by rajul5234 on December 13, 2014, 09:12:27 am »
Mysorefine agarbatti. Guj. H C. TA 1346/2006. Dt. 4/12/14.

Interest received from EEFC a/c cannot curtail deduction u/s 80HHC.

R K Patel
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Discussion / s.271(1)(c). reply rejected.
« Last post by rajul5234 on December 13, 2014, 09:10:00 am »
Guj. H C . Ambalal Sarabhai Enterprises. Tax Appeal 397 / 2000. Dt. 28/11/14.

Held, Penalty u/s 271 (1)(c) not leviable on debatable issues and rejection of reply to s/c notice cannot be equated at par with non- filing of reply.

R K Patel
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Discussion / Payment beyond agreement- Whether for business
« Last post by rajul5234 on December 11, 2014, 09:43:58 pm »
Shree Maruti Courier Tax Appeal 791 / 2006. Dt. 25/11/14. Guj. H C .

Reimbursement of expenses to franchises and commission payment beyond agreement allowable as business expenses on facts and evidence on record.

R K Patel.
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Discussion / s.45(4) , effect on "merger" of firms
« Last post by rajul5234 on December 11, 2014, 09:41:22 pm »
Guj. H C . tax appeal 421 /06. Dt. 3/12/14. Parmar Kishore Mandap Service.

Effect of s.45(4) on merger of firms without discontinuation of business.

R K Patel
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Discussion / S. 32(1) Expln.5 w.e.f. 1/4/02 -Prospective
« Last post by rajul5234 on December 11, 2014, 09:38:12 pm »
Gujarat High Court. Tax appeal 838 / 06  Dt.  4/12/14. Hiralal Industries.

Amendment tos.32(10, expln.5 w.e.f. 1/4/02 is prospective though starts with for removal of doubts.

R K Patel
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Discussion / Audit objection base of s148 notice located at appealate stage
« Last post by rajul5234 on December 11, 2014, 09:34:58 pm »
Guj H C . Tax appeal 343 / 2002. Dt. 5/12/14. Raymon glues.

Audit objection as basis of reopening u/s 147/148 proved from internal correspondence of Revenue at appealate stage- Held, Reopening invalid.
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Discussion / s. 11(5) & s. 13(1)(d)
« Last post by rajul5234 on December 11, 2014, 09:31:08 pm »
Orpat charitable trust. Tax appeal 1719/05, Dt. 3/12/14. Guj. H C

s.11(5) and s.13(1)(d) interpreted.

Bom. and Kar. H C applied.

Raju
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