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DIRECT TAX LAWS - DIRECT TAX LAWS - INTERNATIONAL TAXATION

[2013] 33 taxmann.com 299 (Delhi - Trib.) [15-05-2013]

Sojitz India (P.) Ltd. vs. Deputy Commissioner of Income-tax, Circle - 9(1)

DIRECT TAX LAWS - DIRECT TAX LAWS - INTERNATIONAL TAXATION

[2013] 33 taxmann.com 200 (Mumbai - Trib.) (SB) [13-05-2013]

Assistant Director of Income-tax (IT) -1(2) vs. Clifford Chance

IT/ILT : Article 7(1) of UN Model Convention which are materially different from the provisions of Article 7(1) of the India-UK DTAA read with Article 7(3) thereof. Articles 7(1)(b) and 7(1)(c) of the UN Model Convention as well as of the UN Model Convention Commentary cant be relied upon to come to a conclusion that the connotations of "profits indirectly attributable to permanent establishment" used in Article 7(1) of the Indo-UK treaty incorporates a force of attraction rule thereby bringing

CORPORATE LAWS

[2013] 33 taxmann.com 199 (SC) [10-05-2013]

V.L.S. Finance Ltd. vs. Union of India

CL : The legislature has conferred the same power to the Company Law Board which can exercise its power either before or after the institution of any prosecution whereas the criminal court has no power to accord permission for composition of an offence before the institution of the proceeding. The legislature in its wisdom has not put the rider of prior permission of the court before compounding the offence by the Company Law Board and in case the contention of the appellant is accepted, same wo

DIRECT TAX LAWS

[2013] 33 taxmann.com 193 (Punjab & Haryana) [08-05-2013]

Yoginder Kumar Sud vs. President Income Tax Appellate Tribunal

Section 252 of the Income-tax Act, 1961, read with article 226, of the Constitution of India - Appellate Tribunal - General - Petitioner, Chartered Accountant was appearing as representative of

DIRECT TAX LAWS - DIRECT TAX LAWS - INTERNATIONAL TAXATION

[2013] 33 taxmann.com 168 (Delhi) [06-05-2013]

Commissioner of Income-tax - IV vs. Stratex Net Works (India) (P.) Ltd.

IT/ILT : As the installation/commissioning and maintenance agreements undertaken by assessee on the products supplied by its AE were independent agreements unconnected with the international transactions of warranty support services and the transaction which generated the commission income, the transactions pertaining to the installation/commissioning and maintenance services were not international transactions as contemplated under section 92B(1). They were also not deemed international transac

DIRECT TAX LAWS

[2013] 33 taxmann.com 133 (Gujarat) [02-05-2013]

Commissioner of Income-tax -IV vs. Sikandarkhan N Tunvar

IT : Section 40(a) (ia) would cover not only to the amounts which are payable as on 31st March of a particular year but also which are payable at any time during the year. The term used is interest, commission, brokerage etc. is payable to a resident or amounts payable to a contractor or sub-contractor for carrying out any work. The language used is not that such amount must continue to remain payable till the end of the accounting year. Any such interpretation would require reading words which

CORPORATE LAWS

[2013] 33 taxmann.com 33 (SC) [01-05-2013]

Manohar Lal Sharma vs. Union of India

CL : On matters affecting policy, this Court does not interfere unless the policy is unconstitutional or contrary to the statutory provisions or arbitrary or irrational or in abuse of power. The impugned policy that allows FDI up to 51% in Multi-Brand Retail Trading does not appear to suffer from any of these vices

DIRECT TAX LAWS - DIRECT TAX LAWS - INTERNATIONAL TAXATION

[2013] 33 taxmann.com 1 (Delhi - Trib.) (SB) [30-04-2013]

IHG IT Services (India) (P.) Ltd. vs. Income-tax Officer, Ward - 11(3), New Delhi

IT/ILT : 5% (now 1% for wholesale traders & 3% for others for AY 2013-14) tolerance margin under 2nd proviso to section 92C(2) for variation between ALP & actual price is not standard deduction

CORPORATE LAWS

[2013] 33 taxmann.com 80 (Madras) [30-04-2013]

P. Mohanasundaram vs. President, Institute of Chartered Accountants of India

CL : Moral turpitude means anything contrary to honesty, modesty or good morals. It means vileness and depravity. In fact, the conviction of a person in a crime involving moral turpitude impeaches his credibility as he has been found to have indulged in shameful, wicked and base activities. Having regard to the fact that the appellant married another woman, while the first marriage was subsisting, and had acted contrary to the law and to his "estranged wife", the offence of bigamy is coming

DIRECT TAX LAWS

[2013] 33 taxmann.com 99 (Delhi) [30-04-2013]

Pace Developers & Promoters (P.) Ltd. vs. Government of NCT Through its Secretary

IT : The observations of the Supreme Court in the case of Suraj Lamp are not intended to be applied to the cases of genuine transactions of transfer of immovable property through GPA. As long as the transactions are genuine, the sub-registrar cannot deny to register the GPA and Will

CORPORATE LAWS

[2013] 33 taxmann.com 150 (SAT - Mumbai) [30-04-2013]

Mrs. Ramkishori Gupta vs. Securities and Exchange Board of India

Section 11, read with section 11B, of the Securities and Exchange Board of India Act, 1992 - Powers and functions of board - Whether there is no directive or mandate in any of 15 or 16 measures

DIRECT TAX LAWS

[2013] 33 taxmann.com 169 (Chandigarh - Trib.) [29-04-2013]

Om Parkash Gupta vs. Income-tax Officer, Ward - 4(1)

IT : LTC is exempt from tax only when employee has utilized LTC for travel within India. Nothing in Rule 2B provides assessee a liberty to claim exemption where part of his total ticket package is spent on his overseas travel and part of his journey being within India

CORPORATE LAWS

[2013] 32 taxmann.com 302 (SC) [26-04-2013]

N. Narayanan vs. Adjudicating Offficer, SEBI

SEBI : Where directors of company had created artificiality by projecting inflated figures of company's revenue, profits, security deposits and receivables and that manipulation in financial results of company resulted in price rise of scrip of company, conduct of directors was fraudulent and practice adopted by them relating to securities was unfair and, therefore, SEBI was justified in passing restraint and penalty orders against them

DIRECT TAX LAWS - DIRECT TAX LAWS - INTERNATIONAL TAXATION

[2013] 33 taxmann.com 100 (Delhi) [25-04-2013]

Marubeni India (P.) Ltd. vs. Director of Income-tax

IT/ILT: As assessee was being compensated by AE by way of a fee or commission which had no connection with the costs incurred, the payment of compensation made to the Indian units on their closure would represent abnormal costs which had to be excluded in the determination of the ALP of international transaction

SERVICE TAX LAWS

[2013] 32 taxmann.com 332 (Delhi) [23-04-2013]

Delhi Chit Fund Association vs. Union of India

ST : In a chit business, the subscription is tendered in any one of the forms of 'money' as defined in section 65B(33). It would, therefore, be a transaction in money.

DIRECT TAX LAWS - DIRECT TAX LAWS - INTERNATIONAL TAXATION

[2013] 33 taxmann.com 170 (Delhi) [17-04-2013]

Commissioner of Income-tax - I vs. Cheil Communications India (P.) Ltd.

IT/ILT : Form 3CEB filed by assessee showing international transactions with AEs is no reason at all for reopening the assessment when there is no allegation that the Arm's Length Price determined by the assessee is not correct

DIRECT TAX LAWS

[2013] 32 taxmann.com 250 (Delhi - Trib.) [12-04-2013]

Zeppelin Mobile System GmbH vs. Additional Director of Income-tax

IT : RBI Guidelines have been issued for FEMA purposes. No additions for violation of RBI's norms on valuation of shares sold by non-resident to resident

DIRECT TAX LAWS

[2013] 32 taxmann.com 322 (Ahmedabad - Trib.) [12-04-2013]

Bharat Ginning & Pressing Factory vs. Income-tax Officer, Central Ward -1, Baroda

I. Section 153C of the Income-tax Act, 1961 - Assessment of income of any other person [Firm and partners] - Assessment years 1999-2000, 2000-01, 2002-03 to 2004-05 - Whether when books of account

DIRECT TAX LAWS - DIRECT TAX LAWS - INTERNATIONAL TAXATION

[2013] 32 taxmann.com 99 (Kolkata - Trib.) [12-04-2013]

Income-tax Officer, Ward 12 (2), Kolkata vs. Right Florists (P.) Ltd.

Section 9, read with sections 40(a)(i) and 5, of the Income-tax Act, 1961 and article 12 of Double Taxation Avoidance Agreement with Ireland and USA - Income - Deemed to accrue or arise in India

CORPORATE LAWS

[2013] 33 taxmann.com 119 (SAT - Mumbai) [08-04-2013]

Vashi Construction (P.) Ltd. vs. Securities and Exchange Board of India

Regulation 10 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 - Acquisition of fifteen per cent or more of shares or voting rights of any company - Pursuant to

DIRECT TAX LAWS - DIRECT TAX LAWS - INTERNATIONAL TAXATION

[2013] 32 taxmann.com 100 (Cochin - Trib.) [05-04-2013]

Income-tax Officer (International Taxation)-II vs. M Far Hotels Ltd.

IT/ILT : TDS rate on payments to foreign resident to be exclusive of SC & E.Cess if DTAA silent on their inclusion in TDS rate

DIRECT TAX LAWS

[2013] 32 taxmann.com 321 (Cochin - Trib.) [05-04-2013]

Mother Superior, Sacred Heart Convent vs. Commissioner of Income-tax, Kottayam

Section 12A of the Income-tax Act, 1961 - Charitable/religious trust - Registration of [Condition precedent] - Assessment year 2011-12 - 'Sacred Heart Congregation' has hierarchy of Generalate,

CORPORATE LAWS

[2013] 33 taxmann.com 55 (Bombay) [05-04-2013]

VOV Cosmetics (P.) Ltd. vs. Union of India

Section 22 of the Companies Act, 1956 - Name of company - Rectification of - Whether word 'if' in section 22(1)(b) indicates that it does not follow as a rule that merely because a company is,

DIRECT TAX LAWS

[2013] 33 taxmann.com 94 (Allahabad) [05-04-2013]

Commissioner of Income-tax vs. Dr. A.K. Bansal (Individual)

Section 254, read with section 132, of the Income-tax Act, 1961 - Appellate Tribunal - Powers of [Power to examine validity of search] - Block assessment up to 14-9-1996 - Whether initiation of

DIRECT TAX LAWS - DIRECT TAX LAWS - INTERNATIONAL TAXATION

[2013] 32 taxmann.com 300 (Delhi) [04-04-2013]

Commissioner of Inocome-tax vs. Mentor Graphics ( Noida) (P.) Ltd.

IT/ILT : Proviso to section 92C(2) requiring calculation of arithmetical mean of multiple ALPs (more than 1 ALP) determined as per Most Appropriate Method doesn’t become inapplicable where one of the ALPs determined as per Most Appropriate Method is less than the price indicated by assessee

DIRECT TAX LAWS

[2013] 33 taxmann.com 123 (Calcutta) [04-04-2013]

Commissioner of Income-tax, Kolkata -XVIII vs. Md. Jakir Hossain Mondal

IT : Disallowance under section 40(a)(ia) would apply even to payments made during the previous year without deducting TDS. Applicability of section 40(a)(ia) not limited to amounts outstanding as of 31st March of the previous year on which TDS was not deducted

CORPORATE LAWS

[2013] 33 taxmann.com 28 (CAT) [04-04-2013]

Arshiya Rail Infrastructure Ltd. vs. Competition Commission of India

Section 53A, read with sections 3 and 4, of the Competition Act, 2002 - Establishment of Appellate Tribunal - Whether only those orders which are mentioned in section 53A(1)(a) and no other orders,

DIRECT TAX LAWS

[2013] 33 taxmann.com 250 (Kolkata) [03-04-2013]

Commissioner of Income-tax, Kolkata - XI vs. Crescent Export Syndicate

DIRECT TAX LAWS

[2013] 33 taxmann.com 54 (Madras) [02-04-2013]

KDH Properties (P.) Ltd. vs. Assistant Commissioner of Income-tax, Co. Circle-II(4), Chennai

Section 281B of the Income-tax Act, 1961 - Provisional attachment to protect revenue in certain cases - [Release of excess property attached] - Assessment year 2011-12 - Whether, where property,

CORPORATE LAWS

[2013] 32 taxmann.com 1 (SC) [01-04-2013]

Novartis AG vs. Union of India

Section 3 of the Patents Act, 1970 - Inventions not patentable - What are not inventions - Whether for grant of patent, subject must satisfy twin tests of 'invention' and 'patentability' - Held, yes

DIRECT TAX LAWS

[2013] 32 taxmann.com 367 (Gujarat) [01-04-2013]

Commissioner of Income-tax-I vs. N.J. India Invest (P.) Ltd.

Section 37(1) of the Income-tax Act, 1961 - Business expenditure - Allowability of [Software expenses] - Assessee had claimed deduction towards software development and upgradation expenditure -

DIRECT TAX LAWS

[2013] 32 taxmann.com 200 (Cochin - Trib.) [28-03-2013]

K.V. Ramachandran vs. Deputy Commissioner of Income-tax, Circle 1(1)

IT : Assessees carrying on business can't be penalized under section 271A for not maintaining accounts since CBDT hasn't prescribed minimum books of account in case of businesses of civil contract and has done so only for professionals. Further, if no books of account maintained by businesses, no question of audit arises and hence section 271B can't be invoked for not complying with section 44AB (compulsory tax audit)

DIRECT TAX LAWS

[2013] 32 taxmann.com 336 (Gujarat) [28-03-2013]

Commissioner of Income-tax -I vs. Prathama Developers

Section 80-IB of the Income-tax Act, 1961 - Deductions - Profits and gains from industrial undertakings other than infrastructure development undertakings [Housing project] - Tribunal relying on its

DIRECT TAX LAWS - DIRECT TAX LAWS - INTERNATIONAL TAXATION

[2013] 33 taxmann.com 4 (Mumbai - Trib.) [28-03-2013]

Nomura Fin Services ( India) (P.) Ltd. vs. Assistant Commissioner of Income-tax, Circle, 10(3)

Section 92C of the Income-tax Act, 1961 - Transfer pricing - Computation of arm’s length price [Comparables and adjustments] - Assessment year 2008-09 - Assessee provided ITES to its associated

DIRECT TAX LAWS

[2013] 33 taxmann.com 10 (Gujarat) [28-03-2013]

Commissioner of Income-tax - III vs. Panchmahal Steel Ltd.

Section 43(5) of the Income-tax Act, 1961 - Speculative transactions [Forward contract] - Assessee claimed deduction of loss incurred on account of cancellation of forward contract - Revenue

DIRECT TAX LAWS

[2013] 33 taxmann.com 45 (Gujarat) [28-03-2013]

Commissioner of Income-tax -II vs. Sherno Ltd.

Section 260A, read with section 268A of the Income-tax Act, 1961 - High Court - Appeal to [Monetary limit] - Tribunal held that assessee was entitled to interest under section 244A - Against order

DIRECT TAX LAWS

[2013] 32 taxmann.com 232 (Kolkata - Trib.) [26-03-2013]

Metro Railway Kolkata vs. Income -tax Officer (TDS), Ward 58(1)

IT : Entity acquiring land by compulsory acquisition route not liable to deduct TDS under section 194LA on remittance to Competent Authority

DIRECT TAX LAWS

[2013] 32 taxmann.com 282 (Gujarat) [22-03-2013]

Commissioner of Income-tax -I vs. UTI Bank Ltd.

Section 37(1) of the Income-tax Act, 1961 - Business expenditure - Allowability of [Compensation] - Assessment year 2003-04 - Whether, where landlord incurred expenditure on construction as per

DIRECT TAX LAWS

[2013] 32 taxmann.com 386 (Gujarat) [22-03-2013]

Commissioner of Income-tax -II vs. Medical Technologies Ltd.

Section 37(1) of the Income-tax Act, 1961 - Business expenditure - Allowability of [Commission] - Assessee-company paid commission to 'M' for procuring orders of medical equipments - Board of

DIRECT TAX LAWS

[2013] 32 taxmann.com 370 (Gujarat) [22-03-2013]

Commissioner of Income-tax-I vs. UTI Bank Ltd.

Section 14A of the Income-tax Act, 1961 - Expenditure incurred in relation to income not chargeable to tax [Dividends] - Assessment year 2003-04 - Whether, where assessee had sufficient interest

DIRECT TAX LAWS

[2013] 32 taxmann.com 319 (Chennai - Trib.) [21-03-2013]

Tamil Nadu Industrial Guidance & Export Promotion Bureau vs. Assistant Director of Income-tax, (Exemptions)-IV, Chennai

Section 2(15), read with section 11, of the Income-tax Act, 1961 - Charitable/religious purpose [Exemption] - Assessment year 2009-10 - Assessee-society formed by State Government, provided single

CORPORATE LAWS

[2013] 32 taxmann.com 309 (Delhi) [21-03-2013]

Lakshmiji Sugar Mills Company vs. Union of India

Section 391 of the Companies Act, 1956 - Compromise and arrangement - During pendency of winding up petition of appellant sick company, promoters of company promulgated a scheme for its revival -

CORPORATE LAWS

[2013] 33 taxmann.com 2 (CCI) [21-03-2013]

Yogesh Ganeshlaji Somani vs. Zee Turner Ltd.

Section 3, read with section 4, of the Competition Act, 2002 - Anti-competitive agreements - Informant-subscriber filed information against opposite parties Nos. 1 2, i.e., Zee and Star channels,

DIRECT TAX LAWS

[2013] 31 taxmann.com 300 (Gujarat) [20-03-2013]

Commissioner of Income-tax - I vs. Cadila Healthcare Ltd.

Section 35 of the Income-tax Act, 1961 - Scientific research expenditure [Sub-section (2AB)] - Whether Explanation to section 35(2AB)(1) does not require that expenses included in said Explanation

DIRECT TAX LAWS

[2013] 32 taxmann.com 292 (Madras) [20-03-2013]

Commissioner of Income-tax vs. Karimangalam Onriya Pengal Semipu Amaipu Ltd.

Section 12AA of the Income-tax Act, 1961 - Charitable or religious trust - Registration procedure [Time-limit for passing order] - Assessee company filed application for registration under section

DIRECT TAX LAWS

[2013] 33 taxmann.com 24 (Allahabad) [20-03-2013]

Avadh Transformers (P.) Ltd. vs. Union of India

Section 147, read with section 80-IA, of the Income-tax Act, 1961 - Income escaping assessment - Non-disclosure of primary facts [Disallowance under section 80-IA] - Assessee, a works contractor,

DIRECT TAX LAWS

[2013] 33 taxmann.com 38 (Punjab & Haryana) [20-03-2013]

Commissioner of Income-tax, Rohtak vs. Jagtar Singh Chawla

Section 54F, read with section 139, of the Income-tax Act, 1961 - Capital gains - Exemption of, in case of investment in residential house [Purchase of property] - Assessment year 2007-08 - Assessee

CORPORATE LAWS

[2013] 32 taxmann.com 194 (Delhi) [19-03-2013]

Zhuhai Hansen Technology Co. Ltd. vs. Shilpi Cable Technologies Ltd.

Section 433 of the Companies Act, 1956 - Winding up - Circumstances in which a company may be wound up - Petitioner-foreign company used to supply cables and accessories used in telecommunication

DIRECT TAX LAWS

[2013] 32 taxmann.com 327 (Delhi) [19-03-2013]

Centre for Development of Telematics vs. Union of India

Section 35 of the Income-tax Act, 1961 - Scientific research expenditure [Other institutions] - Petitioner-Centre for Development of Telematics had been catagorised as 'other institutions' partly

CORPORATE LAWS

[2013] 32 taxmann.com 201 (CCI)/[2013] 119 SCL 107 (CCI) [19-03-2013]

Sonam Sharma vs. Apple Inc. USA

Section 4, read with section 3, of the Competition Act, 2002 - Prohibition of abuse of dominant position - Apple, i.e., OP1, is an American multinational corporation that designs and markets

83603 Records | Page [1 of 1673]