Interesting tax case laws – Summarize Version
Posted on 13-June-2020
The Direct Tax Vivad Se Vishwas Scheme’2020
SILENT FEATURES OF THE SCHEME FAQ is silent on the coverage of genuine delay in filing of the appeal, which is pending for condonation of whether it should be covered considering the objective of the scheme. FAQ is silent on the coverage of miscellaneous applications filed against the order of tribunal. What still remains out…
Is 20% deduction of interest on Net taxable dividend?
As highlighted in Budget 2020, it proposes to allow deductions of interest expenses to the extent of 20% of dividend income. The author in this article is focusing on the significant aspect which is whether 20% deduction is on net taxable dividend (after deduction u/s 80M) or on gross dividend income. Proposal for sec…
Mumbai tribunal gives relief to all the builders.
Provision of sec. 43CA not applicable if builder entered into agreement to sell under-construction flats – Shree Laxmi Estate (P.) Ltd. [2019] 108 taxmann.com 195 (Mumbai – Trib.)
CBDT condones delay in filing of audit report by trust/institution
Delay in the filing of audit reports by trusts or institutions have been condonated by The Central Board of Direct Taxes
Newsletter September – 2017
As we got good response to our Newsletter For July 2017 we continue to present our current newsletter in the same format keeping in mind readers interest.Hope this change will be helpful; your feedback is important to us.
Trust – Sec 25(8)(b)
Sec 25(8)(b)- Sachin Infra Management Ltd. Vs. Regional Director [2017] 83 taxmann.com 176 (Gujarat HC ) The respondent Regional Director revoked petitioner’s license under section 8 without giving the opportunity of being heard on the ground that its office had received various complaints stating that the petitioner company had not been carrying out its business…
Business Taxation
Sec 194C – Chennupati Kutumbavathi vs. DCIT [2017] 83 taxmann.com 97 (Visakhapatnam – Trib.) Where assessee a transporter, having entered into an agreement with Co ‘ITC’ for transport of goods, hired lorries from various parties and deployed same at disposal of Co. ‘ITC’ on payment of hire charges, since total responsibility/risk of transporting goods…