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- CHIRAYINKIZHU SERVICE CO-OPERATIVE BANK LIMITED VS INCOME TAX OFFICER
COCHIN TRIBUNAL, Jun 19, 2018 1. This appeal at the instance of the assessee is directed against the order of the CIT(A) dated 23.02.2018. The relevant assessment year is 2014-2015. The assessee had also filed a stay petition seeking to stay the recovery of outstanding tax arrears... - ASSISTANT COMMISSIONER OF INCOME TAX & ANR. VS JOHNSON & JOHNSON LTD. & ANR.
BOMBAY TRIBUNAL, Jun 18, 2018 1. The above titled two appeals by the Revenue and the cross objection by the assessee have been preferred against the common order dated 29.11.2016 of the Commissioner of Income Tax (Appeals) [hereinafter referred to as the CIT(A)] relevant to assessment years 2003-04 & 2004-05... - HINDUSTAN COCA COLA BEVERAGES PRIVATE LIMITED & ANR. VS DEPUTY COMMISSIONER OF INCOME TAX & ANR.
DELHI TRIBUNAL, Jun 18, 2018 1. These are the two appeals filed by the assessee and Revenue against the order of the learned Commissioner of Income Tax (Appeals)-XV, New Delhi, for assessment year 2008-09, passed on 25.03.2013 in the order passed by the Deputy... - ASSISTANT COMMISSIONER OF INCOME TAX & ORS. VS DBS BANK LIMITED & ORS.
BOMBAY TRIBUNAL, Jun 15, 2018 PER BENCH 1. This bunch consists of an appeal by the Department and cross - objection by the assessee for assessment year 2007-08 and two sets of cross-appeals for assessment years 2008-09 and 2009-10. All these appeals and cross objections arise out of three separate orders passed by the learned Commissioner (Appeals)-10, Mumbai... - SHRIDHAR BEDI THROUGH LEGAL HEIR VS INCOME TAX OFFICER
AMRITSAR TRIBUNAL, Jun 15, 2018 1. The instant appeal has been preferred by the Assessee/Appellant, on feeling aggrieved against the order dated 17.10.2016, impugned herein, passed by the Ld. CIT(A)-2, Jalandhar, u/s 250(6) of the I.T. Act, 1961 (hereinafter called as ‘the Act')... - LLOYDs REGISTER QUALITY ASSURANCE LTD. & ORS. VS DEPUTY COMMISSIONER OF INCOME TAX & ORS.
BOMBAY TRIBUNAL, Jun 15, 2018 Management charges paid to Head Office do not come within purview of section 44C. - DEPUTY COMMISSIONER OF INCOME TAX VS SANGEETHA MOBILES PVT. LTD.
BANGALORE TRIBUNAL, Jun 15, 2018 1. This appeal by Revenue is directed against the order of Commissioner of Income Tax (Appeals)-6, Bangalore dt.9.12.2016 for the Assessment Year 2012-13. 2. Briefly stated, the facts of the case are as under :- 2.1 The assessee-company, a dealer in mobile phones and accessories, filed its return of income for Assessment Year 2012-13 on 30... - INCOME TAX OFFICER & ANR. VS IRUMBUZHI SERVICE CO-OPERATIVE BANK LIMITED & ANR.
COCHIN TRIBUNAL, Jun 14, 2018 Per Bench 1. These appeals at the instance of the Revenue are directed against various orders of the CIT(A). Since common issue is raised in these appeals, they were heard together and are being disposed off by this consolidated order... - DEPUTY COMMISSIONER OF INCOME TAX VS ORIENT FASHION EXPORTS INDIA PVT. LTD.
DELHI TRIBUNAL, Jun 14, 2018 Disallowance on account of conversion charges cannot be made where no extra premises were acquired or brought in into business fold to further enhance business rather charges were paid by assessee for regularization of his existing business - INCOME TAX OFFICER VS WIZ-TECH SOLUTIONSL PVT. LTD.
KOLKATA TRIBUNAL, Jun 14, 2018 Addition u/s. 68 cannot be made where the Assessee files sufficient documentary evidences to establish identity and creditworthiness of share applicant and genuineness of transaction. - CIRCULAR NO. 02/2018, DATED: 15-02-2018 CIRCULAR INCOME-TAX ACT Finance Act, 2017 ? Explanatory Notes to the Provisions of the Finance Act, 2017 CIRCULAR NO. 2/2018, DATED THE 15th OF FEBRUARY, 2018 AMENDMENTS AT A GLANCE Section/Schedule Particulars / Paragraph number Finance Act, 2017 First Schedule Rate Structure, 3...
- ORDER, DATED: 12-02-2018 In exercise of powers conferred under section 138(1)(a) of Income tax Act, 1961 ('Act'), the Central Board of Direct taxes hereby directs that Principal Director General of Income-tax (Systems), New- Delhi (Pr. DGIT(Systems)) shall be the specified authority for furnishing the information to the Chief Executive Officer, Government e Marketplace (GeM) as notified vide Notification No………...
- F. No. 370149/20/2018-TPL, Dated: 04-02-2018 Under the existing regime, long term capital gains arising from transfer of long term capital assets, being equity shares of a company or a unit of equity oriented fund or a unit of business trust, is exempt from income-tax under clause (38) of section 10 of the Act...
- CIRCULAR NO. 01/2018, DATED: 10-01-2018 Order under section 119 of the Income-tax Act, 1961 Sub-clause (vi, of clause (a) of sub-section (1) of section 143 of the Income-tax Act, 1961 ('Act') as introduced vide Finance Act, 2016, w.e.f. 01.04.2017, while processing the return of income, prescribes that the total income or loss shall be computed after making adjustment for addition of income appearing in Form 26AS or Form 16A or Form 16 (the three Forms) which has not been included in computing the total income in the return...
- CIRCULAR NO. 29/2017, DATED: 05-12-2017 Reference is invited to Circular No. 01/2017 dated 02.01.2017 whereby the rates of deduction of income-tax from the payment of income under the head "Salaries" under Section 192 of the Income-tax Act, 1961 (hereinafter ‘the Act'), during the financial year 2016-17, were intimated...
- NOTIFICATION NO. 26/2018, DATED: 13-06-2018 S.O. 2413(E).— In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following further amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), Central Board of Direct Taxes, published in the Gazette of India, Extraordinary, vide number S...
- NOTIFICATION NO. 25/2018, DATED: 30-05-2018 S.O. 2289(E).— It is hereby notified for general information that the organization M/s Indian Institute of Science Education and Research, Kolkata (PAN:- AAAAI2170E) has been approved by the Central Government for the purpos...
- NOTIFICATION NO. F.NO.24/1/2018, DATED:31-05-2018 S.O. 2198(E).—In exercise of the powers conferred by section 162 of the Finance Act, 2018 (13 of 2018), the Central Government hereby appoints the 1st day of June, 2018 as the date on which the Part IX of Chapter VIII of the said Act shall come into force...
- NOTIFICATION NO. 24/2018, DATED: 24-05-2018 S.O. 2088(E) .—In exercise of the powers conferred by the clause (ii) of the proviso to clause (viib) of sub-section (2) of section 56 of the Income-tax Act, 1961 (43 of 1961) and in supersession of the notification number S...
- NOTIFICATION NO. 23/2018, DATED: 24-05-2018 S.O. 2087(E) .—In exercise of the powers conferred by sub-section (2) of section 56 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:— 1...
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 | Business Restructuring – A Step Closer and Miles Away from Certai... |
Archana Choudhary, Senior Manager, Tax team, EY India
With technology blurring the supply chain levels and increasing importance of cost efficiency to increase in profits; Multinational Enterprises (MNEs) are inclined to reorganise the traditional structures to al....
More  | Depreciation on goodwill pursuant to merger |
Chengappa Ponnappa, Partner, Lakshmisha S, Director, M&A Tax, PwC India
Recent spurt in mergers and acquisitions has increased the significance of implications and benefits of such transactions. Goodwill arising pursuant to mergers and the consequent depreciation as an intangible a....
More  | Taxability of Income During the Construction Gestation Period |
Maneet Pal Singh Pasricha, Partner, Deepak Suneja, Sr Mgr, Poorvi Jain, Sr Executive, I. P. Pasricha and Co., New Delhi
During the gestation period, a company utilizes only a part of loan and rest of the funds may be temporarily parked in some potential investment with a view to earn interest. It means that even if company is no....
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