Income Tax Judgements

Section 14A of the Income-Tax Act,

CA. Amit Daga 28 March 2008 at 10:09

Posted in Income Tax | 57 Views

Interest earned from income tax dept.

CA Praveen Chopra 27 March 2008 at 20:45

Interest earned from Income Tax Department & staff loans to be assessed under 'other sources'; Interest on Credit sales is business income; When profit is negative, deduction under Section 80 HHC is nil

Posted in Income Tax | 54 Views

CBDT Clarification on Amendment to Section 271 of Income Tax

CA. Amit Daga 27 March 2008 at 17:15

Posted in Income Tax | 57 Views

‘completed contract method’

CA. Amit Daga 27 March 2008 at 17:15

Posted in Income Tax | 94 Views

Software Technology Parks

CA. Amit Daga 25 March 2008 at 10:53

Posted in Income Tax | 58 Views

Excise duty and sales tax under section 80HHC(3)

CA Praveen Chopra 24 March 2008 at 18:58

Excise duty and sales tax cannot form part of 'total turnover' u/s 80HHC(3), otherwise formula becomes unworkable : ITAT Special Bench

Posted in Income Tax | 68 Views

Section 80-IA-Synco Industries vs. ITO (Supreme Court)

CA Jonu Jain 20 March 2008 at 18:14

(a) If the assessee has suffered a loss in one unit, the same has to be set-off against the profits of the undertaking eligible for deduction u/s 80IA etc and if the resultant figure is a loss, no deduction under Chapter VI-A is allowable; (b) Whe

Posted in Income Tax | 125 Views

India-Malaysia treaty- taxed in country where income accrued

CA Jonu Jain 19 March 2008 at 18:34

The Supreme Court ruled that dividend income received from a foreign company is not liable for taxation when there is a tax treaty with the country the company is based in, which stipulates that dividend is to be taxed at source. The court has endors

Posted in Income Tax | 77 Views

Section 80IB

CA Praveen Chopra 19 March 2008 at 15:28

Profits and gains from any business of industrial undertaking - no direct nexus required between activity of an industrial undertaking and profits and gains

Posted in Income Tax | 358 Views

Penalty-Concealment of income

CA Praveen Chopra 16 March 2008 at 21:04

The penalty U/s 271(1)(c)of the Income Tax Act 1961 could not be imposed on the assessee since it was under a bona fide belief that income on sale of debentures was taxable as capital gains. Further such gains had been treated ascapital gains in earl

Posted in Income Tax | 116 Views