Tag Archives: assessee

Online subscription income can be treated as business income: ITAT

The Income Tax Appellate Tribunal (ITAT) recently held that income from online subscription services can be treated as business income and not be taxed as royalty or fee for technical services in all cases. ITAT Mumbai Bench said that for … Continue reading

Posted in Company Law, Consumer Law, Contract Law, General Law, Income Tax Law, International Law, Securities Law | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Tax demand on Flipkart quashed: KerHC

In an important tax ruling, the Kerala High Court quashed the demand raised by a State tax authority against e-commerce company Flipkart and termed it as ‘arbitrary’. Kerala Sales tax authority issued notice to Flipkart that the company is liable … Continue reading

Posted in Administrative Law, Company Law, Constitution Law, Consumer Law, General Law, Income Tax Law, Sales Tax, Service Tax, Trade Law | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Involuntary presence rules out resident status: DHC

The Delhi High Court recently ruled that the assesse is to be considered as non-resident Indian for the purposes of the Income Tax Act for the period for which he was in India ‘involuntarily’ on account of his passport having … Continue reading

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Revenue could resile from settlement: SC

The Supreme Court of India clarified that there could be no settlement with an individual partner so as to discharge him from his obligation to pay the sales tax dues payable by the assessee-Firm, and hence Revenue could resile from … Continue reading

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Proviso to Sec 113 IT Act retrospective in nature: SC

In a very important ruling regarding levy of surcharge on block assessment of income, the Supreme Court of India ruled that the proviso to Section 113 of the Income Tax Act imposing surcharge shall not have a retrospective affect. “…….. … Continue reading

Posted in Banking Law, Income Tax Law, International Law | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Cyprus Notified as a notified Jurisdictional Area by Indian Govt

Cyprus Notified as a notified Jurisdictional Area Under Section 94a of the Income-Tax Act, 1961 Section 94A was introduced in the Income-tax Act, 1961, through the Finance Act, 2011, in respect of transactions with persons located in notified jurisdictional area … Continue reading

Posted in Banking Law, Company Law, Income Tax Law, International Law, Notifications/Publications/Circulars | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

CBDT lists procedures for mandatory scrutiny of cases

Central Board of Direct Taxes today announced procedure and criteria for mandatory scrutiny of cases. The following cases/returns shall be compulsorily scrutinized: (a) Cases where value of international transaction as defined u/s 92B of IT Act exceeds Rs. 15 crores. … Continue reading

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