CORPORATE AND PROFESSIONAL UPDATE DATED MARCH 1,2016 Direct Tax TP: Turnover is a relevant factor to consider comparability. [CIT vs. Pentair Water India Pvt. Ltd (Bombay High Court)]. A mere change in the… Read More
Highlights of Railway Budget for 2016-17. Following are highlights of the Railway Budget for 2016-17 (Apr-Mar), presented by Railway Minister Suresh Prabhu in Parliament today: GENERAL * Budget reflects aspirations… Read More
CORPORATE & PROFESSIONAL UPDATE FEBRUARY 29, 2016 INCOME TAX ACT SECTION 2(22) DEEMED DIVIDENDS Loans and advances to shareholders : Where assessees P and S were directors in two sister companies,… Read More
CORPORATE & PROFESSIONAL UPDATE FEBRUARY 28, 2016 TAXABILITY OF SERVICES PROVIDED BY GOVERNMENT Finance Act, 2015 has proposed to cover all services provided by Government or local authority to business… Read More
CORPORATE & PROFESSIONAL UPDATE FEBRUARY 27,2016 Direct Tax IT: CPU alone cannot be described as computer; routers and switches being input/output devices, are integral part of computer and, hence, entitled… Read More
CORPORATE & PROFESSIONAL UPDATE FEBRUARY 26, 2016 Direct Tax When the issue has been decided by the CIT(A) then only CIT(A) can rectify the order u/s 154, AO has no… Read More
CORPORATE & PROFESSIONAL UPDATE DATED FEBRUARY 25, 2016 INCOME TAX ACT CBDT sets monetary limit to waive interest SECTION 4 CHARGEABLE AS INCOME General principle : Tax cannot be levied on… Read More
CORPORATE AND PROFESSIONAL UPDATE DATED FEBRUARY 24, 2016 IT: CIT(A) was fully justified in deleting the addition made by the AO for alleged bogus purchases particularly when the GP rate declared… Read More
CORPORATE AND PROFESSIONAL UPDATE FEBRUARY 23, 2016 Supply Of Goods to Indian Navy not must to claim excise exemption. Manufacture of rosin and turpentine without aid of power , seeking… Read More
CORPORATE AND PROFESSIONAL UPDATE FEBRUARY 22, 2016 DIRECT TAX The petitioner is admittedly not a foreign Company. - Since the petitioner is not an eligible assessee in terms of Section… Read More