Sharp can't use non-compete fee to lower tax outgo: Delhi High Court
The order was given on an appeal filed by taxpayer firm, Sharp Business System, a jv between Sharp Corporation, Japan and L&T India.
M Padmakshan
ITAT: Four new e-courts to be launched, hearing through video-conferences
The tribunal, a quasi-judicial body, has set up webcast facilities at Delhi, Mumbai, Nagpur and Ahmedabad, a first in the history of tax judiciary in India.
Tax rebate allowed on capital gains after property sale
ITAT of Chennai had held that interest on home loans will continue to remain out of the tax net even if the house is sold later.
Filing revised I-T return won't save you from penalty
Tax rules clearly lay down that funds parked in undeclared bank accounts are considered as income on which full tax and penalty can be levied.
I-T department seizes Rs 5 crore cash while unearthing network of safe-keeping services
The income tax department has seized Rs 5 crore cash while unearthing a nationwide network of private entities providing safe-keeping services.
‘Shipping profits of Swiss companies not taxable in India’
Provisions exempting shipping profits from tax liability in India would apply under the India -Switzerland Double Taxation Avoidance Agreement.
What Diageo-United Spirits deal means for market
Industry veterans believe after the multinationals come in, the market will change from being volume-based to a profit-driven one.
Vijay Mallya-led UB Group & Diageo may have sealed a deal for United Spirits takeover
As per the terms of the deal, Diageo will buy more than 25% of United Spirits in three stages and pay around $2 billion for buying a 51% stake.
High Court dismisses Income-Tax department’s tax claim on Reliance Communication
The Bombay High Court dismissed an Income-Tax Department’s appeal on tax claim on Reliance Communication on nearly Rs 5,635 crore of revenues.
Authority for Advance Rulings says it is not bound by past orders
AAR has held that it is not bound by its earlier orders and can take a contrary view if there are sufficient reasons to believe that the earlier rulings were incorrect.
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