Deduction u/s 80HHC- Flight Kitchen Sales
The Mumbai Bench of the ITAT in the case of Indian Hotels Co. Ltd. v. DCIT (107TAX205) in quashing the…
......Read More
Today's
Wrong reopening ......Read More
Yesterday's In no way the AO has power to question arm’s length pricing in unrelated party transactions ......Read More
Yesterday's In no way the AO has power to question arm’s length pricing in unrelated party transactions ......Read More
Interest Income
After the Apex Court rulings in Sterling foods, Tuticorn and Bokara Steel the Benches of the Tribunal are taking a…
......Read MoreDeduction u/s 80I/80IA- Gross or Net- Part II
The Andhra Pradesh High Court in the case of Commissioner of Income-tax Vs. Visakha Industries Ltd. (251ITR471) held that the…
......Read MoreOptimizing Export Profits Deduction
Often the margins are found to be more in exports than in domestic business. At times the domestic business may…
......Read MoreEmployment of second hand machinery
One of the restrictions for claiming deductions u/s 80J(corresponding sections 80IA/IB) is that the unit is not formed by the…
......Read MoreExport Profits
In the case of Income-tax Officer vs. Fashion Sports (I) (P.) Ltd. (78ITD41) the assessee received insurance claim on account…
......Read MoreAdvantage to Supporting Manufacturer
Often a manufacturer for want of quota ties up with a third party for shipping goods. The export incentives are…
......Read MoreDeduction of Tax at Source Failure to Deduct Tax- Burden of Interest
The liability for payment of interest stipulated in section 201(1A) accrues automatically on failure to pay the amount of tax…
......Read MoreNetting of Interests- Possible
The Delhi Benches of the ITAT seem to be unanimous in their view that in the case of a running…
......Read More