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Cinemax India Limited V. UOI & Anr. (Gujrat HC) - While upholding Sec.65[105][zzzz] of Finance Act, 1994 as amended by Sec.75[5][h] and Sec.76 of the Finance Act, 2010, we hold that the provision of Sec.65[105][zzzz] introducing service tax is not attracted if [i] the vacant land is used solely for agriculture, acquaculture, farming, forestry, animal husb
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Hinzugefügt am 27.08.2011 - 08:32:09
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von carnifex2m
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high court judgments
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http://taxguru.in/service-tax/gujarat-hc-upholds-constitutional-validity-service ...
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CIT Vs M/s Anantha Gas Suppliers (Andhra Pradesh HC) – In the instant case before us the container mounted on the chassis of the truck is nothing but a gas cylinder and it fits in the description of the gas cylinder mentioned in Appendix-I Part-III (ii) F4 of the Rule 5 of the Income Tax Rules,
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Hinzugefügt am 27.08.2011 - 08:50:08
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von carnifex2m
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high court judgments
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http://taxguru.in/income-tax-case-laws/depreciation-100-claimed-lp-gas-cylinders ...
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Peico Electronics & Electricals Ltd Vs CIT (Kolkutta High Court) - We are of the opinion that the term ‘loss’ as occurring in clause (b) of the proviso to Section 205 (1) of the Companies Act has to be understood and read as the amount arrived at after taking into account the depreciation. Then alone the formula prescribed in this cl
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Hinzugefügt am 27.08.2011 - 09:09:24
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von carnifex2m
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- high court judgments
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http://taxguru.in/income-tax/assessee-claim-depreciation-business-loss-claimed-b ...
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DCIT vs. RBS Equities India Ltd (ITAT Mumbai) – Assessee has determined the ALP in good faith inasmuch as he has proceeded on the basis that TNMM is most appropriate method on the facts of this case, and he has also set out the reasons as to why CUP must not be applied in this case. While the TPO has not even questioned the former, he has rejected latter only on the grounds that (a) it is incorrect to proceed on the basis that no marketing efforts are required in the case of the AEs, and (b) the onus was on the assessee to demonstrate that no research inputs were given by the AEs
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Hinzugefügt am 27.08.2011 - 10:56:56
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von carnifex2m
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itat judgments
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http://taxguru.in/income-tax-case-laws/lack-good-faith-due-diligence-inferred-gr ...
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Triumph International Finance I Ltd V. ACIT (ITAT Mumbai)- the undisclosed income determined in the case of the assessee is not as a result of disallowing any claim of the assesse because the same is not allowable as per the provisions of law but undisclosed income has been determined on the basis of the evidences found during the course of search, which has established the fact that the true nature of transactions have not been recorded by the assessee in the books of account and the same has resulted the undisclosed income.
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Hinzugefügt am 28.08.2011 - 09:31:24
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von carnifex2m
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itat judgments
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http://taxguru.in/income-tax-case-laws/assessee-fails-declare-undisclosed-income ...
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Genisys Integrating System (India) Pvt. Ltd vs DCIT All the comparables have to be compared on similar standards and the assessee cannot be put in a dis-advantageous position, when in the case of other companies adjustments for under utilization of manpower is given. The assessee should also be given adjustment for under utilization of its infrastructure. The AO shall consider this fact also while determining the ALP and make the TP adjustments.
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Hinzugefügt am 28.08.2011 - 09:46:56
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von carnifex2m
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itat judgments
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http://taxguru.in/income-tax-case-laws/transfer-pricing-comparables-compared-sim ...
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Surajmall Lalchand & Sons v ACIT-XI (Calcutta High Court)- In the case of CIT vs. H. P. State Forest Corporation Ltd (supra), a Division Bench of Himachal Pradesh High Court was considering a case where the accounts of the assessee, a State Government Corporation, not having been audited by the office of the Comptroller and Auditor General, the Assessing Officer treated the assessee’s return as a non est and passed order of assessment under Section 144 of the Act.
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Hinzugefügt am 28.08.2011 - 10:34:35
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von carnifex2m
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high court judgments
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http://taxguru.in/income-tax-case-laws/appellate-authority-remand-matter-specifi ...
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The expenditure was incurred by the assessee on ad films in respect of an ongoing business and there was no enduring benefit on the same. Hence, it was assessable as revenue expenditure, An expenditure incurred on advertisements and websites for sales promotion is revenue in nature. Computer peripherals are entitled to depreciation at 60%.
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Hinzugefügt am 29.08.2011 - 04:18:28
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von carnifex2m
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high court judgments
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http://taxguru.in/income-tax-case-laws/computer-peripherals-entitled-depreciatio ...
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Bee Pee Jay Finance Ltd v CIT and Anr (Calcutta High Court)- By virtue of Section 11 5JA a legal fiction has been created by which if total income is found to be less than 30% of the book profit, the total income should be deemed to be 30% of the profit and in such a case, if chargeability of interest under Sections 234B and 234C are held applicable only in view of sub-Section (4) of Section 11 5JA, it would amount to adding another legal fiction to an existing legal fiction of Section 11 5JA( 1). According to Mr. Sen in case of a legal fiction, which has to be interpreted for giving its full
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Hinzugefügt am 29.08.2011 - 13:19:12
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von carnifex2m
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high court judgments
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http://taxguru.in/income-tax-case-laws/assessee-liable-pay-interest-234b-234c-ta ...
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CIT Vs V. R.V. Breweries & Bottling Industries Ltd. (Delhi HC)- The observation made in paragraph 58 at page 414 of the aforementioned judgment, on which reliance has been placed by the learned counsel for revenue seeks only to emphasise that the assessee in that case, had only acquired access to technology which was not related to any secret process or patent rights and thus in continuum it is mentioned that not even a right to use the trademark or brand name had inhered in the assessee. From this, it cannot be concluded, as is sought to be done by the learned counsel for the revenue that an
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Hinzugefügt am 29.08.2011 - 14:20:37
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von carnifex2m
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high court judgments
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http://taxguru.in/income-tax/royalty-paid-brand-names-trade-marks-treated-capita ...
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Status Home and Enclaves (P) Ltd. versus CIT (Calcutta HC)- Whether the Tribunal was justified in law in withdrawing the relief granted by the Commissioner of Income Tax (Appeals) merely because the Development Agreement was not produced before the Assessing Officer when the said agreement was duly submitted before the considered by the Commissioner of Income Tax (Appeals) and no objection in that regard was raised by the Department either in the ground of appeal or in course of argument nor the Tribunal require production of the agreement?
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Hinzugefügt am 29.08.2011 - 15:53:38
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von carnifex2m
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high court judgments
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http://taxguru.in/income-tax-case-laws/assessee-produce-copy-agreement-ao-cita-i ...
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Whether when the agency agreement between the assessee and the non-resident continues even after expiry but no royalty is paid during this period, compensation
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Hinzugefügt am 02.09.2011 - 07:48:03
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von carnifex2m
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- itat judgments
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http://taxguru.in/income-tax-case-laws/compensation-received-termination-joint-v ...
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