Month: February 2010

Bombay H.C : The initiation of proceedings under s. 263 was not justifiable, on the ground that the order of the AO was not erroneous or prejudicial to the interests of the Revenue

High Court Of Bombay CIT vs. Development Credit Bank Ltd. Section 263 Asst. Year 2002-03 Dr. D.Y. Chandrachud & J.P. Devadhar, JJ. IT Appeal No. 2308 of 2009 26th February, 2010 Counsel Appeared : Suresh Kumar, for the Appellant : Satish R. Mody with Ms. Aasifa Khan, for the Respondent JUDGMENT Dr. D.Y. Chandrachud, J. : …

S.C : The assessee filed an appeal(s) before the Gujarat High Court inter alia challenging the capitalization of the roll over charges paid in respect of foreign currency

Supreme Court Of India Assistant Commissioner Of Income Tax vs. Elecon Engineering Co. Ltd. Section 36(1)(iii), 37(1), 43A Asst. Year 1986-87 S.H. Kapadia & H.L. Dattu, JJ. Civil Appeal Nos. 2057 to 2065 of 2010 26th February, 2010 Counsel Appeared : Parag P. Tripathi with Kunal Bahri, H. Raghavendra Rao, Ms. Sunita Rani Singh & B.V. …

Gauhati H.C : the Tribunal was justified and correct in law in allowing registration under s. 12AA of the IT Act, 1961 with retrospective effect where the delay in the submission of application for registration was not condoned by the concerned CIT

High Court Of Gauhati CIT vs. Shrimanta Sankar Academy Section 10(22), 10(23), 12A Asst. Year 2002-03 Ranjan Gogoi & B.P. Katakey, JJ. IT Appeal No. 3 of 2008 25th February, 2010 Counsel appeared : U. Bhuyan, for the Appellant : A. K. Goswami, B. Chakraborty, T. R. Sarma, L. Gogoi & Ms. P. Hazarika, for the …

Bombay H.C : The Tribunal is correct in setting aside the order passed under s. 263 by the CIT, without discussing the facts of the case and the clauses of the agreement between NHAI and the assessee

High Court Of Bombay CIT vs. Knr Patel (JV) Section 80-IA(4), 263 Asst. Year 2003-04 Dr. D.Y. Chandrachud & J.P. Devadhar, JJ. IT Appeal No. 2197 of 2009 25th February, 2010 Counsel Appeared : Ms. Suchitra Kamble, for the Appellant : Percy J. Pardiwalla with Madhur Agarwal & Rajesh Poojari i/b Mint & Confrers, for the …

AAR : Whether the applicant in the stated facts and circumstances, would have a PE in India under art. 5(1) or 5(8) of the India-Singapore Double Taxation Avoidance Agreement (“India-Singapore DTAA” or “treaty”) in relation to the activity of delivering goods through a customs bonded warehouse owned and operated by an ISP in India ?

Authority For Advance Rulings Seagate Singapore International Headquarters (P) Ltd., In Re Section 90, DTAA between India & Singapore, Art. 5, DTAA between India & Singapore, Art. 7 P.V. Reddi, J., Chairman; J. Khosla, Member AAR No. 831 of 2009 25th February, 2010 Counsel Appeared : Mukesh Butani, A. Jain, Abhay Sharma, Mohit Agarwal & Ankita …

Bombay H.C : Whether the Tribunal has set aside the penalty imposed by the AO under s. 158BFA(2) of the IT Act, 1961 for valid andjustifiable reasons

High Court Of Bombay CIT vs. Malllinath Sharnayya Swami Section 158BFA(2) Dr. D.Y. Chandrachud & J.P. Devadhar, JJ. IT Appeal No. 1707 of 2009 25th February, 2010 Counsel Appeared : Vimal Gupta, for the Appellant : M.K. Kulkarni i/b Sagar Kasar, for the Respondent JUDGMENT DR. D.Y. CHANDRACHUD, J. : Admit. The issue involved in this …

AAR : Whether the amounts received/receivable by Joint Stock Company Foreign Economic Association “Technopromexport” (‘applicant’ or ‘JSC Technopromexport’) from National Thermal Power Corporation Ltd. (‘NTPC’) under Contract No. CS9558-102-2-FC-COA-4520 dt. 25th March 2005 (‘offshore supply contract No. 4520’), for offshore supply of all plant and equipment including mandatory spares are liable to tax in India under the provisions of the IT Act, 1961 (Act) and the Agreement for Avoidance of Double Taxation between India and Russia (‘India-Russia tax treaty’)

Authority For Advance Rulings Joint Stock Company Foreign Economic Association “TECHNOPROMEXPORT”, In Re Section 9, 90, DTAA between India & Russia, Art. 5, DTAA between India & Russia, Art. 7 P.V. Reddi, J., Chairman; J. Khosla, Member AAR No. 827 of 2009 25th February, 2010 Counsel Appeared : N. Venkatraman with Satish Aggarwal, Akhil Sambhar, Vikrant …
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