 Judiciary
Displaying 1150 - 1160 of 1437 in 144 pages
By kavita jain On 22 January 2008 at 10:27
On consideration of the background under which the assessee-Corporation came into being and taking into account the provisions under articles 46 and 47 of the Constitution, it was clear that the assessee was primarily formed to ameliorate the sufferi... Continue Reading
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By CA.Saibaburao Nanduri On 22 January 2008 at 10:27
Held by the Hon`ble Court that as no nexus could be found between the borrowing and the interest free advance to sister concern and with clear finding that there was no element of commercial expediency, the interest paid on borrowed fund is not deduc... Continue Reading
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By kavita jain On 21 January 2008 at 12:20
S. 142 - Inquiry before assessment
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By kavita jain On 19 January 2008 at 10:21
A bare reading of section 68 suggests that there has to be credit of amounts in the books maintained by assessees; that such credit has to be of a sum during the previous year; and that the assessees offer no explanation about the nature and source o... Continue Reading
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By kavita jain On 19 January 2008 at 10:21
Primary burden of proof, therefore, is on the revenue. The statute requires satisfaction on the part of the Assessing Officer. He is required to arrive at a satisfaction so as to show that there is primary evidence to establish that the assessee had ... Continue Reading
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By Late CA Sampat Jain On 18 January 2008 at 09:20
(1) In the matter of interpretation of a taxing statute, as also other statutes where the applicability of Article 246 of the Constitution of India, read with Seventh Schedule thereof is in question, the Court may have to take recourse to various t... Continue Reading
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By kavita jain On 17 January 2008 at 22:45
The Act is concerned only with the profits earned in India and, therefore, a method is to be found out to ascertain the profits arising in India and the only way to do so is by treating the Indian PE as a separate profit centre vis-a-vis the foreign ... Continue Reading
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By kavita jain On 17 January 2008 at 22:45
Determination of liability of income-tax under the provisions of the Act for the purpose of computation of income of an assessee, inter alia, for carrying on business in insurance is governed by section 44 thereof and rule 5(a) of the First Schedule ... Continue Reading
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By CA Nikita On 17 January 2008 at 18:02
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By kavita jain On 17 January 2008 at 12:13
“the income-tax has laid down certain rules to be applied in deciding how the tax should be assessed and even if the result is to tax as profits what cannot be construed as profits, still the requirements of the income-tax must be complied with. Wh... Continue Reading
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