The Punjab & Haryana High Court has ruled against Coca-Cola India’s contention that the proof of profit transfer outside India is a precondition for applying transfer pricing rules.
From now on, tax cannot be levied on the money paid by a builder to a housing society or private individual for redevelopment of property, the Income Tax Appellate Tribunal (ITAT) has said in a recent order.
Kingfisher Airlines has seen a decline in its losses for fiscal 2007-08, thanks to the deferred tax liability of over Rs 600 crore, according to the company’s annual report.
Collections in Mumbai, which contributes about 35-40% to country's tax kitty, have fallen for first time in last 5 yrs. Gainers: BSE ( A, B ) | NSE | Losers: BSE ( A, B ) | NSE
Corporate advance tax collections in Mumbai, which contributes about 35-40% to the country's tax kitty, have fallen below last year's level, thanks to the general slowdown in the economy.
The Income-Tax department is now exploring the possibility of levying tax on the recent acquisition of Merrill Lynch by Bank of America (BoA).
Corporate taxpayers can now hope for speedy justice. The Bombay High Court has set aside an order of the Income Tax Appellate Tribunal (ITAT) on the ground that the tribunal took four months to deliver the order.
The $15.4-billion buyout of the British brewer Scottish & Newcastle (S&N) by a Carlsberg-Heineken consortium last January is under the scanner of the Indian income-tax department.
Feni makers in Goa believe the cashew fruit from which Feni is produced is unique to Goa & therefore Goa should own Feni.
Tilaknagar Industries, the spirits company known for its Mansion House brandy, is setting up a Rs 80-crore grain-based distillery at Ahmednagar in Maharashtra.
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