The apex court’s order means that ITAT can’t claim that it has no power to review its own order.
Kingfisher Airlines has posted a net loss of Rs 577 crore in the financial year ended March 2007, the balance sheet of UB Holdings, which owns the airline, shows.
The Income-Tax Appellate Tribunal’s decision, on taxability of MNCs operating in India, held that revenue generated in India by the foreign company is taxable in India even if they operate through an agent.
Leela Hotels plans to open a chain of pilgrim hotels in an attempt to facilitate easy access and stay near pilgrim centres.
Income-Tax Appellate Tribunal held that bad debt recovered by non-banking finance companies (NBFCs) could not be construed income and hence not taxable.
In a decision that may boost the income-tax department’s chances of bringing the $11.1-billion deal between Hutchison International and Vodafone into the tax net, the Authority for Advance Rulings (AAR) has held in a similar case that transaction of Indian shares between two foreign entities is liable for capital gains tax in the country.
Non-resident companies selling shares in off-market deals will have to pay only 10 pc tax on long-term capital gains. Home finance and tax rebates | Day in pics
The audit department of the Airports Authority of India (AAI) has objected to the AAI board’s decision to give away half of the land it owns at Dahisar, to the recently-formed joint venture company Mumbai International Airport Ltd (MIAL).
Jyoti Mehta, widow of late big bull Harshad Mehta, has filed a petition before the special court trying the 1992 securities scam cases seeking a stay on the sale of over 24 lakh shares of RIL belonging to the Harshad Mehta group.
The Bombay High Court made an observation on the ongoing debate over whether income-tax authorities are right in demanding capital gains tax on the recently concluded $10-billion sale of Hutch Essar to telecom major Vodafone.
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