An old court case filed way back in 1992 by Shaw Wallace against BDA over ownership of Officer’s Choice whisky threatens to reopen old wounds between liquor barons Vijay Mallya, chairman of India’s spirit and beer behemoth, United Breweries and Kishore Chhabria, chairman of BDA, which now owns the Officer’s Choice whisky brand.
How does a company show the expenses on developing its Web site? Can it book the amount to claim a deduction, thereby lowering the tax outgo?
In a rare case, the Income-Tax Appellate Tribunal (ITAT), the quasi-judicial body for settling tax disputes, came to the support of a taxpayer and directed the I-T department to refund Rs 2.68 crore it has recovered.
Kotak Finance Prime, a Kotak group subsidiary, which purchased Apple Finance debentures from four public sector banks at a discounted rate, will have to shell out an additional Rs 70 crore.
Exemption of export income from MAT can be accorded only up to the period when the Section 80 HHC of I-T Act was in operation. Section 80 HHC expired in 2004.
The government is on course to notify amendments to India’s tax treaty with the United Arab Emirates (UAE).
From May this year, the foreign spirit and wine bottles you buy from the open market will have labels containing a host of information on the product, including the product price, alcohol content, date of production etc.
Things got even better for chartered accountants (CAs).
Consider this: There are currently 1.4 lakh CAs against a demand for 5 lakh CAs.
Bosca Wine, one of the oldest wine brands in India that boasts of the fine traditions of wine making in Abruzzo region in Italy, will go out of the market this March.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon