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

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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

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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

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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

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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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Payment for services rendered without human intervention not in nature of ‘fees for technical services’: ITAT

Income Tax Appellate Tribunal (Mumbai) ruled that payment made to a person outside India by assessee for the services rendered without any human intervention was not in any manner in the nature of ‘fees for technical services’ within the ambit … Continue reading

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Compensation received in consideration of termination of services should be treated under capital receipt: DHC

The Delhi High Court ruled that the compensation received by a chartered accountant firm (assessee-firm) in consideration of the termination of their services by a US company should be treated under capital receipt and not revenue receipt. The Court said … Continue reading

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Payment made from one NRI to another outside India; Section 195 of IT Act will not apply as held in Vodafone International Holdings B.V. by the Supreme Court: ITAT Mumbai

In may be one of the first rulings after the recent amendment to Section 9(1)(vi) of Income Tax Act (“Act”) by Finance Act, 2012 with effect from April 1, 1976, Income Tax Appellate Tribunal (Mumbai) held that the payment paid … Continue reading

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