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Service of Court Notice(s) may be effected by E-mail - Corporate Laws

Fri, 30 Jul 2010 15:06:46 GMT

Service of Court Notice(s) may be effected by E-mail
By Central Elect. Regulatory Commn. v. National Hydroelect. Power Corp. Ltd. [Civil Appeal No. of 2010] [2010] 6 taxmann.com 67 (SC)

Award of an arbitrator under Arbitration and Conciliation Act, 1996 would fall within ambit of “tran... - Corporate Laws

Thu, 29 Jul 2010 17:21:28 GMT

Award of an arbitrator under Arbitration and Conciliation Act, 1996 would fall within ambit of “transmission by operation of law” as envisaged by second proviso to section 108 of Companies Act
By Dinesh Nagindas Shah v. Pankaj Aluminium Industries Pvt. Ltd. [Company Appeal No. 59 of 2009 IN Company Petition No. 16 of 2008] [2010] 6 taxmann.com 63 (BOM.)

An unregistered private trust cannot open a Demat account in its name and in the name of Gods or God... - Corporate Laws

Thu, 29 Jul 2010 17:03:58 GMT

An unregistered private trust cannot open a Demat account in its name and in the name of Gods or Goddesses
By Shri Ganpati Panchayatan Sansthan Trust v. Union of India [Writ Petition No. 4778 of 2009] [2010] 6 taxmann.com 62 (BOM.)

When assessee makes a provision of interest in its account, in account of creditor, provisions of se... - Direct Tax Laws

Fri, 30 Jul 2010 18:07:26 GMT

When assessee makes a provision of interest in its account, in account of creditor, provisions of section 194A would be applicable
By ITO v. Executive Officer Cum Secretary Marketing Committee [ITA Nos. 1005 & 1006/Delhi of 2009] [2010] 6 taxmann.com 68 (NEW DELHI - ITAT)

Holding period for purposes of computation of capital gain is relevant only in relation to shares he... - Direct Tax Laws

Fri, 30 Jul 2010 14:35:37 GMT

Holding period for purposes of computation of capital gain is relevant only in relation to shares held as investment
By Walfort Financial Services Ltd. v. Addl. CIT [CIT ITA No. 847/M/2009] [2010] 6 taxmann.com 66 (MUM. - ITAT)

Raising a legal claim, even if it is ultimately found to be legally unacceptable, cannot amount to f... - Direct Tax Laws

Thu, 29 Jul 2010 17:26:00 GMT

Raising a legal claim, even if it is ultimately found to be legally unacceptable, cannot amount to furnishing of inaccurate particulars of income
By Equest India Pvt. Ltd. v. ITO [ITA No. 1548/Mum/06] [2010] 6 taxmann.com 65 (MUM. - ITAT)

Unless a sense of hierarchical discipline is observed, while implementing fiscal legislation, exerci... - Direct Tax Laws

Thu, 29 Jul 2010 17:23:15 GMT

Unless a sense of hierarchical discipline is observed, while implementing fiscal legislation, exercise of powers would be rendered arbitrary and subject to whim and caprice of Assessing Officers
By McKinsey and Company Inc. v. Union of India [Writ Petition (L) No. 805 of 2010] [2010] 6 taxmann.com 64 (BOM.)

A business centre cannot be said to be a ‘house’ for purposes of clause (3) of section 2(ea) of Weal... - Direct Tax Laws

Thu, 29 Jul 2010 16:28:55 GMT

A business centre cannot be said to be a ‘house’ for purposes of clause (3) of section 2(ea) of Wealth-tax Act
By Cravatex Ltd. v. Addl. CIT [ITA No. 7381/Mum/02 WTA No. 42/Mum/03 WTA No. 38/Mum/03] [2010] 6 taxmann.com 61 (MUM. - ITAT)

Interest income received by Rural Electrification Corp. (REC) on Bonds issued by Madhya Pradesh Gove... - Direct Tax Laws

Wed, 28 Jul 2010 15:04:11 GMT

Interest income received by Rural Electrification Corp. (REC) on Bonds issued by Madhya Pradesh Government in lieu of outstanding loan and interest thereon from Madhya Pradesh State Electricity Board is income from Long Term Finance for the purpose of deduction u/s 36(1)(viii)
By Rural Electrification Corpn. Ltd., In re [A.A.R. No. 841 of 2009] [2010] 6 taxmann.com 60 (AAR - NEW DELHI)

When an assessee-company exploits its property to earn income in form of rent, rental income receive... - Direct Tax Laws

Wed, 28 Jul 2010 15:02:29 GMT

When an assessee-company exploits its property to earn income in form of rent, rental income received by assessee is chargeable to tax under head “income from house property” and not under head “profits and gains of business”
By Batra Gulati Hotels v. ITO [ITA NO. 655/Mum/2009] [2010] 6 taxmann.com 59 (MUM. - ITAT)

Merely because assessee has made some legal claim which has not been accepted by A.O. that will not ... - Direct Tax Laws

Wed, 28 Jul 2010 15:00:55 GMT

Merely because assessee has made some legal claim which has not been accepted by A.O. that will not amount to furnishing of inaccurate particulars of income
By Strides Arcolab Ltd. v. ACIT [ITA NO. 6233/Mum/2009] [2010] 6 taxmann.com 58 (MUM. - ITAT)

INDO-UAE DTAA: Mere physical presence of non-resident’s vessel in territorial waters of India pursua... - Direct Tax Laws

Tue, 27 Jul 2010 18:56:03 GMT

INDO-UAE DTAA: Mere physical presence of non-resident’s vessel in territorial waters of India pursuant to hiring of vessel on Bareboat Charter terms by applicant does not, without anything more, constitute a permanent establishment
By Seabird Exploration FZ, LLC, In re [AAR No. 829 of 2009] [2010] 6 taxmann.com 57 (AAR - NEW DELHI)

Housing project for purpose of section 80-IB(10) does not include construction of commercial establi... - Direct Tax Laws

Tue, 27 Jul 2010 16:17:26 GMT

Housing project for purpose of section 80-IB(10) does not include construction of commercial establishment carried out by another entity in that area
By ITO v. Khyati Financial Services [ITA No.3740/Mum/2008] [2010] 6 taxmann.com 56 (MUM. - ITAT)

Indo-Mauritius DTAA : Applicant is not liable to be taxed in India on proposed transfer of its share... - Direct Tax Laws

Tue, 27 Jul 2010 16:16:07 GMT

Indo-Mauritius DTAA : Applicant is not liable to be taxed in India on proposed transfer of its shares in an Indian Company to its wholly owned subsidiary company in India
By Praxair Pacific Ltd., In re [AAR/855/2009] [2010] 6 taxmann.com 55 (AAR - NEW DELHI)

Section 115JB is not designed to be applicable to a foreign company, who has no presence or PE in In... - Direct Tax Laws

Tue, 27 Jul 2010 13:21:35 GMT

Section 115JB is not designed to be applicable to a foreign company, who has no presence or PE in India
By The Timken Company, In re [AAR No. 836 of 2009] [2010] 6 taxmann.com 54 (AAR - NEW DELHI)

Indo-Singapore DTAA : A mere existence of a PE in India cannot lead to a conclusion that royalties ... - Direct Tax Laws

Tue, 27 Jul 2010 12:58:14 GMT

Indo-Singapore DTAA : A mere existence of a PE in India cannot lead to a conclusion that royalties arise in India
By SET Satellite Singapore Pte. Ltd. v. Addl. DIT (Intl. Taxation) [ITA No. 7349/Mum/2004] [2010] 6 taxmann.com 53 (MUM. - ITAT)

For purposes of clause (iv) of Explanation 1 to section 115JB, extent of reduction in respect of ded... - Direct Tax Laws

Sat, 24 Jul 2010 16:27:50 GMT

For purposes of clause (iv) of Explanation 1 to section 115JB, extent of reduction in respect of deduction available under section 80HHC has to be computed strictly in accordance with provisions of section 80HHC
By CIT v. Al-Kabeer Exports Ltd. [ITA No. 2619 of 2010] [2010] 6 taxmann.com 52 (BOM.)

Provisions of TDS Chapter (Chapter XVII) are relevant only for ascertaining deductibility of tax at ... - Direct Tax Laws

Sat, 24 Jul 2010 16:20:42 GMT

Provisions of TDS Chapter (Chapter XVII) are relevant only for ascertaining deductibility of tax at source and not for actual deduction and payment for attracting provisions of section 40(a)(ia)
By Bapushaeb Nanasaheb Dhumal v. ACIT [ITA NO. 6628/Mum/2009] [2010] 6 taxmann.com 51 (MUM. - ITAT)

Bad debt: Amount receivable by a share broker from his clients against purchase of shares when not r... - Direct Tax Laws

Fri, 23 Jul 2010 15:13:21 GMT

Bad debt: Amount receivable by a share broker from his clients against purchase of shares when not recovered can be allowed as bad debt
By DCIT v. Shreyas S. Morakhia [ITA No. 3374/Mum/2004] [2010] 6 taxmann.com 49 (MUM. - ITAT)(SB)

Indo-German DTAA: As per new Treaty, income from supervision activity like construction & installati... - Direct Tax Laws

Fri, 23 Jul 2010 12:17:45 GMT

Indo-German DTAA: As per new Treaty, income from supervision activity like construction & installation of a project is to be treated as income of PE provided that said activity continues for a period exceeding six months as per article 5(2)(i) of DTAA
By ADIT(IT) v. Krupp UHDE GMBH [ITA No.4496 & 4652/Mum/2005] [2010] 6 taxmann.com 48 (MUM. - ITAT)

Year from which option has been exercised u/s 80-IA(1) is to be treated as initial assessment year f... - Direct Tax Laws

Fri, 23 Jul 2010 12:16:01 GMT

Year from which option has been exercised u/s 80-IA(1) is to be treated as initial assessment year for purpose of section 80-IA(5)
By Rangamma Steels & Malleables v. ACIT [ITA No. 1171/Mds/09] [2010] 6 taxmann.com 47 (CHENNAI - ITAT)

Penalty is leviable within meaning of Explanation 1(B) to section 271(1)(c) in respect of alleged gi... - Direct Tax Laws

Fri, 23 Jul 2010 12:13:28 GMT

Penalty is leviable within meaning of Explanation 1(B) to section 271(1)(c) in respect of alleged gifts received by minor sons of assessee which are finally found transferred to assessee’s books
By Saurabh Bansal v. ITO [ITA No.351/Ahd/2008] [2010] 6 taxmann.com 46 (AHD. - ITAT)

R&D expenditure has to be apportioned between agricultural and non-agricultural activities and porti... - Direct Tax Laws

Fri, 23 Jul 2010 12:11:19 GMT

R&D expenditure has to be apportioned between agricultural and non-agricultural activities and portion attributable to non-agricultural activities is to be allowed as deduction in computing taxable income
By DCIT v. Vibha Agrotech Ltd. [ITA No.469/H/2008] [2010] 6 taxmann.com 45 (HYD. - ITAT)

Tribunal has the jurisdiction to entertain a fresh plea on subject matter of appeal - Direct Tax Laws

Wed, 21 Jul 2010 17:03:41 GMT

Tribunal has the jurisdiction to entertain a fresh plea on subject matter of appeal
By ACIT v. Amarnath Reddy [ITA Nos. 945 to 947/Mds/2007] [2010] 6 taxmann.com 44 (CHENNAI - ITAT)

As long as an AO has taken a possible view of a matter after applying his mind to facts of case and ... - Direct Tax Laws

Wed, 21 Jul 2010 17:00:16 GMT

As long as an AO has taken a possible view of a matter after applying his mind to facts of case and legal provision, view so taken cannot be subjected to revision proceedings under section 263 merely because the Commissioner has a different view of that matter
By Jewel Enterprises v. ITO [ITA Nos. 6477 & 6478/Mum/07] [2010] 6 taxmann.com 42 (MUM. - ITAT)

Computation of ALP : It is mandatory for assessee, to follow one of prescribed methods and demonstr... - Direct Tax Laws

Tue, 20 Jul 2010 13:02:01 GMT

Computation of ALP : It is mandatory for assessee, to follow one of prescribed methods and demonstrate that international transactions, entered into by it, with an associated enterprise, are at Arms Length Price
By DCIT v. Starlite [ITA No. 2279/Mum/06] [2010] 6 taxmann.com 41 (MUM. - ITAT)

Indo-UK Tax Treaty : Entire profits relating to services rendered by the assessee, whether rendered ... - Direct Tax Laws

Sat, 17 Jul 2010 19:33:31 GMT

Indo-UK Tax Treaty : Entire profits relating to services rendered by the assessee, whether rendered in India or outside India, in respect of Indian projects is taxable in India
By Linklaters LLP v. ITO (Int’l Taxation) [ITA No. 4896/Mum/03] [2010] 6 taxmann.com 38 (MUM. - ITAT)

Second rectification application by either party is maintainable only on issues not decided by Tribu... - Direct Tax Laws

Sat, 17 Jul 2010 12:07:24 GMT

Second rectification application by either party is maintainable only on issues not decided by Tribunal in any other rectification application filed by either of parties
By CIT v. Aiswarya Trading Co. [ITA No. 829 of 2009] [2010] 6 taxmann.com 36 (KER.)

Transfer pricing study of assessee and ALP of international transactions determined on the basis of ... - Direct Tax Laws

Sat, 17 Jul 2010 11:07:30 GMT

Transfer pricing study of assessee and ALP of international transactions determined on the basis of such study simply cannot be rejected without any cogent reasons
By DCIT v. Indo American Jewellery Ltd. [ITA No. 6194/Mum/2008] [2010] 6 taxmann.com 35 (MUM. - ITAT)

Activity of preparing bouquets from natural flowers does not bring into existence commercially a dif... - Service Tax/GST

Fri, 23 Jul 2010 19:05:08 GMT

Activity of preparing bouquets from natural flowers does not bring into existence commercially a different product and hence is not ‘manufacture’ for purpose of section 2(17) of Bombay Sales Tax Act, 1959
By In Bloom v. CST [Sales Tax Reference No. 4 of 2006 in Reference Application No. 88 of 2002] [2010] 6 taxmann.com 50 (BOM.)

Activity of procuring customers for foreign principal cannot be brought within scope of definition o... - Service Tax/GST

Wed, 21 Jul 2010 17:02:21 GMT

Activity of procuring customers for foreign principal cannot be brought within scope of definition of ‘C&F Agent’ u/s 65(25) of Finance Act, 1994
By CST v. Acer India Pvt. Ltd. [CEA No. 61 of 2007] [2010] 6 taxmann.com 43 (KAR.)

Technical assistance and technical know-how received by an Indian company from a foreign company for... - Service Tax/GST

Tue, 20 Jul 2010 13:00:25 GMT

Technical assistance and technical know-how received by an Indian company from a foreign company for period November, 1998 to December, 2000 is neither taxable u/s 65(31) nor u/s 66A of the Finance Act, 1994
By CST v. Araco Corporation [C.E.A. No. 12/2007] [2010] 6 taxmann.com 40 (KAR.)

Promotion of real estate venture by Airlines in air is taxable as Business Auxiliary Service - Service Tax/GST

Tue, 20 Jul 2010 12:59:07 GMT

Promotion of real estate venture by Airlines in air is taxable as Business Auxiliary Service
By Jetlite (India) Ltd. v. CCE [ST/Stay/2947/09 in Appeal No. ST/776/2009ST/M/1092/09 in Appeal No. ST/776/2009] [2010] 6 taxmann.com 39 (NEW DELHI - CESTAT)

Prior to 2006, service rendered by a company cannot be brought under category of Consulting Engineer... - Service Tax/GST

Sat, 17 Jul 2010 14:38:19 GMT

Prior to 2006, service rendered by a company cannot be brought under category of Consulting Engineer
By CST v. Turbotech Precision Engineering Pvt. Ltd. [CEA No. 4/2007] [2010] 6 taxmann.com 37 (KAR.)