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Foreign branch of Indian entity treated as PE since incorporation for granting exemption on dividend tax; same cannot be denied without any reason to defer
Co-operative credit society providing financial accommodation only to its members, entitled to Sec 80P(2) deduction
Gratis transportation paid by NHPC to its employees are taxable activity u/s 3(1-A) of Amendment & Validation Act, 1997
Once benefit of setting off accumulated losses of amalgamating company u/s 72A was availed, waiver of interest on loans taken from FIs be taxed u/s 41(1)
Leeway granted for deductions u/s 36(1)(va) on deposits made beyond due date but before date of filing of return, will not apply to sum held in trust
No exemption can be claimed u/s 10B(8) by furnishing declaration in revised ITR much after due date of filing ITR u/s 139(1)
Incentive profit arising out of DEPB & duty drawback scheme which is not derived from eligible business, not eligible for Sec 80IB deduction
Price received by automobile dealer from manufacturer for sale of spare part, pursuant to warranty service, attracts sales tax
Not really ‘Domicile’, rather ‘De facto control & power’ of company, is determinant test for application of I-T Act
Not mere ownership over huge volume of ordinary article would attract implication of deemed income u/s 69A