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I-T dept to ‘ name & shame’ millionaire defaulters
Fair-market value formula for indirect share transfers not fair: Experts
Asset value math may hit black money window
Amendment to Bonus Act doubled benefit amount: Labour Minister
French taxmen raid Google's Paris office in alleged USD 2.5 bn tax evasion case
Major Ports - Ease of Doing Business - Several measures taken in last 365 days
RBI Reference Rate for US
Amendment in Appendix - 1A and 6J of Appendices and Aayat Niryat Forms of 1-1-1) 2015-20 Jurisdiction of Special Economic Zones under Para.6.34 of Handbook of Procedure of 2015-2020
Inclusion of Regional Office. Joint DGFT. Rajkot in the jurisdiction of Committee on Quality Complaint & Trade Dispute (CQCTD) in Chapter-8 of Hand Book of Procedures, 2015-2020.
India signs loan agreement with world bank for IBRD loan of US 100 million for Karnataka Urban Water Supply Modernization project
Legislative backlog in Rajya Sabha needs to be cleared quickly, says Mr Naidu
FMV of Indian & global assets - CBDT seeks comments on draft rules
One-time fee replaces monthly licence fee system for Indian Ships
Sale of unreserved tickets by hand-held terminals launched
Efforts on to improve forest cover from 22% to 33%: Javadekar
Filing of online return for fourth quarter of 2015-16 extension of period thereof
Manner of determination of fair market value and reporting requirement for Indian concern-Indirect transfer provisions-section 9(1) of the Income-tax Act, 1961-Draft Rule
Relaxation for Furnishing of UID in case of Form 15G/ 15H for certain quarters
Modification in Importer Exporter Code (IEC)
Quarterly Report on Debt Management for the Quarter January-March 2016 (Q 4 FY 16) released; Gross and Net Market borrowing requirements of the Government for FY16 were revised lower to 5,85,000 crore and 4,40,608 crore, which were lower by 1.18 per
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HC - Sec. 17(2)(viii) and Rule 3(7)(i) of the IT Rules constitutionally valid. Pegging perquisite valuation (bank employees' concessional loans) to SBI-rate not 'hardship'.

S. 263: There is doubt whether Explanation 2(a) to s. 263, inserted by FA 2015 w.e.f. 01.04.2015 has retrospective effect. The said Explanation does not override the law that the CIT cannot fault an assessment…

A liberal view must be taken in matters of condonation of delay. A delay of 2191 days caused by an employee leaving the services of the assessee and not handing over papers to the assessee deserves to…

S. 143(1)/ 147: Entire law on the reopening of s. 143(1) assessments in the light of Zuari Estate Development 373 ITR 661 (SC) explained

S. 40(a)(ia): Payments by a CA firm to foreign professional entities for services rendered abroad is not taxable under Articles 12 and 15 of the India-USA DTAA. The retrospective amendment to s. 9(1)(vii)…

Bogus purchase and sale of shares: Law explained as to on whom the onus is to show that the purchase and sale of shares are bogus and the circumstances required to be proved by the AO

HC - Interest on income-tax refund to an Italy-based company u/s 244A is not taxable in India under India-Italy DTAA.

SC - Assessee is entitled to interest u/s 244(1A) on refund utilised by the revenue against outstanding tax demand.

HC - Cost-Accountants competent to audit cooperative society’s accounts u/s 63 of the Karnataka Co-operative Societies Act, 1959.

ITAT - Payment to residents of different countries for supply of embedded software not royalty under respective DTAAs. TDS inappliable

ITAT - Where there was no specific agreement with AE for sharing AMP expenses and also assessee made advertisement payments mainly to unrelated parties, AMP not international transaction.

ITAT - In absence of agreement with AE for sharing AMP expenses, same does not constitute an international transaction.

ITAT - Merely because a particular comparable satisfies all the filters considered by TPO and also by assessee, it cannot be concluded that the comparable has to be accepted on that basis alone.

ITAT - No TP adjustment on interest on loans to AE out of excess funds from the issue of Foreign Currency Convertible Bonds.

ITAT - Treatment of outstanding share application money as an international transaction on the ground that subsidiary company had shown it in its financial statement as unsecured interest free loan, repayable…

ITAT - 0.5% to be arm’s length rate of commission on corporate guarantee provided by holding company on behalf of its step-down subsidiary AE.

ITAT - In absence of international transaction with AE a normal assessment should have been completed without making reference to TPO.

ITAT - Adjustment to working capital cycle of assessee should be made vis-à-vis the sale and total cost of each of the comparable companies.

ITAT - TP-adjustment arose due to difference in gross margins computed by assessee and TPO in respect of 3 comparables. TP adjustment deleted.

ITAT - DRP's objection that average day to day working capital cannot be computed is not correct. Working capital adjustment allowed in respect of IT support services.segment

CESTAT - VAT - DTH broadcasting is not exclusive domain of Union to levy service tax. Entertainment tax on MSOs & DTH service-providers upheld.

CESTAT - CUST - Accumulated CENVAT credit refund allowable under Rule 5 of CENVAT Credit Rules on supply of final products to SEZ.

CESTAT - CUST - As per Sec 50 of Customs Act, stage of entry of goods to be exported is the date on which exporter presents shipping bills to proper officer.

SC - VAT - ‘Excavator’ would be classifiable as “motor vehicle” within the meaning of Sec 2(28) of Motor Vehicles Act. Liable for registration & payment of taxes.

HC - VAT - Entry tax justified on dealers carrying business within railway area.

HC - CUST - 'Principle of unjust enrichment' would be applicable to every case of refund claim (including refund consequent to encashment of bank guarantee) irrespective of the reason for claiming such…

SC - VAT - Only oiled-cake eligible for benefit of notification No. FD 119 CSL 2002 (2) dated May 31, 2002 and to be taxed at reduced rate of 2% and de-oiled cake to be taxed at the normal CST rate of…

HC - Rejection of applications under Delhi Tax Compliance Achievement Scheme, 2013 (Scheme) by Addl. Commissioner acting as ‘Designated Authority’ was not justified.

SC - ST - Supply of labour for working at customer’s packing plant is not covered as CHS u/s 65(23).

CESTAT - EXC - CENVAT credit in respect of common inputs used in manufacture of both excisable & exempted finished goods to be reversed under Rule 6(3) of CENVAT Credit Rules, even though exported under…

Clause 202 - Immunity from initiation of proceedings in respect of offence and imposition of penalty in certain cases
Clause 201 - Time and manner of payment
Clause 200 - Particulars to be furnished
Clause 199 - Declaration of tax payable
Clause 198 - Definitions
Clause 197 - Short title and commencement
Clause 193 - Scheme not to apply to certain persons
Clause 192 - Applicability of certain provisions of Income-tax Act and of Chapter V of Wealth-tax Act
Clause 191 - Exemption from wealth-tax in respect of assets specified in declaration
Clause 190 - Declaration by misrepresentation of facts to be void
Clause 189 - Declaration not admissible in evidence against declarant
Clause 188 - Tax in respect of voluntarily disclosed income not refundable
Clause 187 - Undisclosed income declared not to be treated as benami transaction in certain cases
Clause 186 - Undisclosed income declared not to affect finality of completed assessments
Clause 185 - Undisclosed income declared not to be included in total income
Clause 184 - Time for payment of tax
Clause 182 - Penalty
Clause 181 - Charge of tax and surcharge
Clause 180 - Declaration of undisclosed income
Clause 179 - Definitions
Clause 178 - Short title and commencement
Clause 163 - Collection and recovery of equalisation levy
Clause 162 - Charge of equalisation levy
Clause 161 - Definitions
Clause 160 - Extent, commencement and application
Clause 159 - Infrastructure Cess
Clause 158 - Krishi Kalyan Cess
Clause 157 - Amendment of notification issued under section 93A of Finance Act, 1994
Clause 156 - Insertion of new sections 101, 102 and 103- Special provision for exemption in certain cases relating to construction of canal, dam, etc- Special provision for exemption in certain cases relating to construction of Government buildings- Speci
Clause 155 - Amendment of section 93A
Clause 154 - Amendment of section 91
Clause 153 - Amendment of section 90
Clause 152 - Amendment of section 89
Clause 151 - Amendment of section 78A
Clause 150 - Amendment of section 75
Clause 149 - Amendment of section 73
Clause 148 - Amendment of section 67A
Clause 147 - Amendment of section 66E
Clause 146 - Amendment of section 66D
Clause 145 - Amendment of section 65B
Clause 144 - Amendment of Second Schedule
Clause 143 - Amendment of First Schedule
Clause 142 - Amendment of Third Schedule
Clause 141 - Amendment of section 37B
Clause 140 - Amendment of section 11A
Clause 139 - Amendment of section 5A
Clause 138 - Amendment of First Schedule
Clause 137 - Omission of section 8C
Clause 136 - Amendment of notifications issued under section 25 of Act 52 of 1962
Clause 135 - Amendment of section 156
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