Income Tax Judgements

Merely because tax on income was paid for some assessment years would not estop the non-resident assessee from contending that its income is not liable to tax in India.

Case Fact: Whether income earned by the partner from funds withdrawn from a firm, where the firm had received such funds from a Co. in which the said partner has substantial interest, as repayment of advances made earlier in the ordinary course of bu

Case Fact: Whether A.O. is justified in adding interest on interest free loan given by lessee to the lessor as notinal rent to compute the Income from House Property.

For the applicability of section 35AB, the nature of expenditure is required to be decided at the threshold because if the expenditure is found to be revenue in nature, then section 35AB may not apply, however, if it is found to be capital in nature,

The basis for initiating the reassessment proceedings is to be judged solely on the basis of reasons recorded by the AO and the material and information referred to by him in the reasons for initiating such action; the formation of the belief of the

The PSC is an independent accounting regime which includes tax treatment of costs, expenses, incomes, profits etc., it is because of the specific provision in the PSC for currency translation that loss/profit would accrue to an operator-company; ofte

Concession By CBDT On TDS Under Section 194-I Of Income Tax Act

Section 9, of the Income-tax Act, 1961, read with article 12, of the Direct Tax Avoidance Agreement between India and USA - Income - Deemed to accrue or arise in India - Applicant is an Indian company and is mainly engaged in business of providing ca

Thus, in our view, the provisions of section 69 cannot be said to be attracted to the price of stock in question. Though, not necessary, but still it may be considered and observed, that during the relevant year, the entire income of the assessee wa

Effect of non-consideration of the application for registration within the time fixed by section 12AA(2) would be a deemed grant of registration