[Taxation Law] Market Research, Promotional Activities, Training Or Deployment Of Software Are 'Auxiliary Functions' Under DTAA: Delhi HC

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3 days, 6 hours ago

[Taxation Law] Market Research, Promotional Activities, Training Or Deployment Of Software Are 'Auxiliary Functions' Under DTAA: Delhi HC

Live Law

The Delhi High Court has reiterated that “activities such as market research, promotional activities, training or deployment of software would clearly not breach the threshold of auxiliary functions as are envisaged under the DTAA.” Double Taxation Avoidance Agreement was signed between India and the US to prevent International Double Taxation and encourage international trade. In its 72-page judgment, a division bench of Justices Yashwant Varma and Ravinder Dudeja noted that the LO was only engaged in activities relating to liaising with governmental authorities, training of personnel and undertaking other peripheral functions in aid of the business of Western Union Financial Services. “The gamut of activities which it undertook cannot thus be described to be the undertaking of an essential or significant part of the principal business activity of Western Union Financial Services,” it said. Since the activities undertaken were far removed from the core business of the Western Union Financial Services enterprise, it is the tests of 'preparatory' and 'auxiliary' as embodied in Article 5 which stand met and satisfied,” it held and dismissed Revenue's appeal.

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DTAA | Foreign Company Providing Software To Its Agents In India Doesn't Mean It Has 'Permanent Establishment' In India: Delhi HC

Trending News

3 days, 5 hours ago

DTAA | Foreign Company Providing Software To Its Agents In India Doesn't Mean It Has 'Permanent Establishment' In India: Delhi HC

Live Law

The Delhi High Court has held that 'software' being an intangible property, cannot alone constitute 'Permanent Establishment' of a foreign entity in India. In the case at hand, the issue before the Court was whether the Voyager software provided by Western Union Financial Services Inc. to its agents in India would constitute PE, for the purposes of taxation in India. …

DTAA | Foreign Company Providing Software To Its Agents In India Doesn't Mean It Has 'Permanent Establishment' In India: Delhi HC

Trending News

3 days, 5 hours ago

DTAA | Foreign Company Providing Software To Its Agents In India Doesn't Mean It Has 'Permanent Establishment' In India: Delhi HC

Live Law

The Delhi High Court has held that 'software' being an intangible property, cannot alone constitute 'Permanent Establishment' of a foreign entity in India. In the case at hand, the issue before the Court was whether the Voyager software provided by Western Union Financial Services Inc. to its agents in India would constitute PE, for the purposes of taxation in India. …

[Taxation Law] Market Research, Promotional Activities, Training Or Deployment Of Software Are 'Auxiliary Functions' Under DTAA: Delhi HC

Top News

3 days, 6 hours ago

[Taxation Law] Market Research, Promotional Activities, Training Or Deployment Of Software Are 'Auxiliary Functions' Under DTAA: Delhi HC

Live Law

The Delhi High Court has reiterated that “activities such as market research, promotional activities, training or deployment of software would clearly not breach the threshold of auxiliary functions as are envisaged under the DTAA.” Double Taxation Avoidance Agreement was signed between India and the US to prevent International Double Taxation and encourage international trade. In its 72-page judgment, a division …

Tax Cases Weekly Round-Up: 8 To 14 October, 2023

1 year, 2 months ago

Tax Cases Weekly Round-Up: 8 To 14 October, 2023

Live Law

Supreme Court Case Title: Commissioner of Customs, Mumbai v. M/s Ganpati Overseas Citation : 2023 LiveLaw 864 The Supreme Court has recently highlighted that the transaction value should be the primary basis for customs valuation and that other valuation methods be invoked sequentially only when there is evidence to doubt the correctness of the declared transaction value. Case Title : …

Routine Business Support Services Are Not Taxable As Fees For Technical Services: Delhi ITAT

2 years, 8 months ago

Routine Business Support Services Are Not Taxable As Fees For Technical Services: Delhi ITAT

Live Law

The Delhi Bench of ITAT, consisting of members Astha Chandra and N.K. Billaiya, has ruled that routine business support services are not taxable as fees for technical services since they do not make any technology or skill available to the recipient of the services. The appellant Magotteaux International contended before the AO that in accordance with Article 12 of the …

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GST | Delhi HC Orders Refund Of Service Tax Paid On Ocean Freight, Cites Gujarat HC Judgment Declaring It Unconstitutional

3 days, 1 hour ago

GST | Delhi HC Orders Refund Of Service Tax Paid On Ocean Freight, Cites Gujarat HC Judgment Declaring It Unconstitutional

Live Law

The Delhi High Court on Thursday ordered the GST Department to refund the service tax paid by certain importers on ocean freight. The division bench also relied on judgment rendered by the Ahmedabad Bench of the CESTAT in Commissioner of Service Tax vs. Kiri Dyes and Chemicals Limited where it was held, “the issue whether Ocean Freight/ Sea Transportation service …

High Court Constitution Court Ocean Gujarat Freight High

S.68 IT Act | Whether Assessee Discharged Burden To Substantiate Identity & Genuineness Of Share Application Money Is 'Question Of Fact', Not Law: Gauhati HC

4 days, 2 hours ago

S.68 IT Act | Whether Assessee Discharged Burden To Substantiate Identity & Genuineness Of Share Application Money Is 'Question Of Fact', Not Law: Gauhati HC

Live Law

The Gauhati High Court refused to entertain an appeal with respect to genuineness of credit received by an assessee from share application money, holding that the same would require it to venture into factual matrix of the case which is beyond its jurisdiction under Section 260A of the Income Tax Act, 1961. The appeal was preferred by the Revenue, following …

Law Appeal Court Question Fact Finding Assessee

Rule 8D Of IT Rules Can Be Invoked Only If Assessee's Computation Of Expenses Attributable To Earning Exempt Income Is Found Inadequate: Delhi HC

4 days, 5 hours ago

Rule 8D Of IT Rules Can Be Invoked Only If Assessee's Computation Of Expenses Attributable To Earning Exempt Income Is Found Inadequate: Delhi HC

Live Law

The Delhi High Court has held that recourse to Rule 8D of the Income Tax Rules, 1962 for computing disallowance under Section 14A of the Income Tax Act is available only if the Assessee's computation of expenses attributable to earning exempt income, is found to be inadequate. Aggrieved, the Assessee preferred an appeal before the Commissioner of Income Tax which …

Delhi Income Rule Expenditure Exempt Computation Earning

Delhi High Court Quashes ED's Denial Of NOC To Times Of India Group For Overseas Investments

4 days, 5 hours ago

Delhi High Court Quashes ED's Denial Of NOC To Times Of India Group For Overseas Investments

Live Law

The Delhi High Court has quashed the Enforcement Directorate's decision to deny No Objection Certificates under Foreign Exchange Management Rules, 2022 to media conglomerates Bennet Coleman & Co. Ltd and its subsidiary the Times Internet Limited, the digital venture of the Times of India Group. For this purpose, the Times Group sought NOCs from the ED under Rule 10 of …

India High Court Foreign Exchange Fema Group Court Quashes Til

Tax Weekly Round-Up: December 09 - December 15, 2024

6 days, 22 hours ago

Tax Weekly Round-Up: December 09 - December 15, 2024

Live Law

HIGH COURTS Allahabad HC Assesee Cannot File For Requisite Documents Once Plea Is Accepted And Notice Is Issued: Allahabad High Court Case Title: M/s Laxmi Telecom v. State of U.P. Form 26B Under Income Tax Rules Not Required For Refund Once Form 5 Under 'Vivad Se Vishwas' Act Is Issued: Allahabad High Court Case Title: Dish TV India Limited v. …

Delhi Mumbai Tax Customs Income Tax Title Income

Mint Explainer: Why Switzerland withdrew MFN status in its tax treaty with India

1 week ago

Mint Explainer: Why Switzerland withdrew MFN status in its tax treaty with India

Live Mint

Switzerland has suspended the Most-Favoured-Nation clause in its Double Taxation Avoidance Agreement with India, significantly altering the tax treatment of cross-border dividends. Switzerland has attributed this change to a 2023 Indian Supreme Court ruling in a case involving Nestle SA and others, which clarified that MFN clause benefits require explicit notification by the Indian government under the Income Tax Act, …

India Foreign Policy Tax Court Indian Pti Supreme

Assessee Can Confine Settlement Under Direct Tax Vivad Se Vishwas Act To Disputes Which Were Subject Matter Of Its Appeal: Delhi HC

Trending News

1 week, 3 days ago

Assessee Can Confine Settlement Under Direct Tax Vivad Se Vishwas Act To Disputes Which Were Subject Matter Of Its Appeal: Delhi HC

Live Law

The Delhi High Court has held that under the Direct Tax Vivad Se Vishwas Act, 2020, an Assessee is entitled to confine the settlement of disputes which were subject matter of its appeal, and exclude the disputes which were subject matter of the Revenue's appeal for the same assessment year. It thus allowed a real estate company's plea against the …

Appeal Tax Income Tax Settlement Disputes Act Matter

Power Of DRI Officers To Issue Show-Cause Notices Under Customs Act And A 'Flux' In The Legal Position: Delhi HC Discusses

1 week, 3 days ago

Power Of DRI Officers To Issue Show-Cause Notices Under Customs Act And A 'Flux' In The Legal Position: Delhi HC Discusses

Live Law

The Delhi High Court recently discussed a 'flux' in the legal position with respect to power of officers of Directorate of Revenue Intelligence to issue show-cause notices and recover duties under the Customs Act, 1962. It was held therein that DRI officers do not have the jurisdiction to exercise functions under the Customs Act or to issue show-cause notices and …

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How gains through margin trading facility transactions are taxed in India

2 weeks, 1 day ago

How gains through margin trading facility transactions are taxed in India

Live Mint

The margin trading facility is a powerful financial instrument. The tax treatment of this interest depends on whether the income from MTF transactions is categorized as capital gains or business income. While interest expenses on borrowed funds are capped at 20% of dividend income for dividends, no specific provision under the Income Tax Act allows the deduction of interest expenses …

Income Capital Gains Set Itr Losses Transactions Ltcg

Allegation of Manufacturer 'Clandestinely' Clearing Goods To Escape Tax Must Be Based On 'Tangible Evidence': Delhi HC

2 weeks, 3 days ago

Allegation of Manufacturer 'Clandestinely' Clearing Goods To Escape Tax Must Be Based On 'Tangible Evidence': Delhi HC

Live Law

The Delhi High Court has held that where a manufacturer is booked by the tax authorities for clandestinely clearing its goods to escape tax, the charge must be based on “tangible evidence”. “In the absence of any tangible evidence which would indicate that there was clandestine manufacture and clearance of the goods from the premises of the respondent, we hold …

Delhi Case Department Goods Manufacture Cestat Clandestine Removal

Laying Down Optical Fibre Cables To Enhance Communication Network For Defence Forces Is Exempt From Service Tax: Delhi High Court

2 weeks, 3 days ago

Laying Down Optical Fibre Cables To Enhance Communication Network For Defence Forces Is Exempt From Service Tax: Delhi High Court

Live Law

The Delhi High Court recently declared that Telecommunications Consultants India Limited, a central public sector undertaking which secured a Project floated by BSNL for laying down Optical Fibre Cable Network, is exempt from service tax since the service is in the nature of setting up a civil infrastructure so as to benefit the defence forces in having a better communication …

Services Advocate Bsnl Exempt Service Tax Telecommunications Consultants

Mind economy's interest before Revenue's: Sanjay Malhotra to tax officials

2 weeks, 4 days ago

Mind economy's interest before Revenue's: Sanjay Malhotra to tax officials

Live Mint

New Delhi: Cautioning tax officials to not kill the goose that lays the golden egg in the process of tax collection, revenue secretary Sanjay Malhotra told a gathering of officials that they need to be careful not to hurt the economy’s interests in the hunt for revenue. “This is a very positive development for the industry—it signals the government's intention …

India Revenue Officials Trillion Collection Cbic Malhotra

Provisions Of Foreign Trade Policy Cannot By Itself Authorise Levy Of Interest U/S 28AA Of Foreign Trade Act: Kerala High Court

2 weeks, 5 days ago

Provisions Of Foreign Trade Policy Cannot By Itself Authorise Levy Of Interest U/S 28AA Of Foreign Trade Act: Kerala High Court

Live Law

The Kerala High Court stated that the provisions of the Foreign Trade Policy cannot by itself authorise the levy of interest under Section 28AA of the Foreign Trade Act, 1992, as such levy must be supported by plenary legislation. The Bench of Justice Gopinath P. was considering a case where the assessee challenged the interest imposed upon him under the …

Policy Trade Interest Foreign Act Scheme Levy

Only Income From Investment Made By Charitable Institution In Violation Of S.13(1)(d) Income Tax Act Is Liable To Tax: Telangana HC

2 weeks, 6 days ago

Only Income From Investment Made By Charitable Institution In Violation Of S.13(1)(d) Income Tax Act Is Liable To Tax: Telangana HC

Live Law

The Telangana High Court has held that the benefit of exemption under Section 11 of the Income Tax Act, 1961, can be denied only on income from such investments made by charitable or religious institutions, which are in violation of Section 13 of the Act. In the case at hand, the Andhra Pradesh State Civil Supplies Corporation Limited, a charitable …

Tax Court Investment Violation Companies Income Act

Tax Weekly Roundup: November 25 - December 01, 2024

2 weeks, 6 days ago

Tax Weekly Roundup: November 25 - December 01, 2024

Live Law

HIGH COURTS Allahabad HC Time Extension Notification Dated 24.04.2023 Valid Only From 31.03.2023, Not Before: Allahabad High Court Case Title: M/s A.V. Review Plea Against SLP Constitutes "Disputed Tax" U/S 2: Delhi High Court Case title: NRA Iron And Steel Pvt Ltd v. Income Tax Department & Ors. S.99A Customs Act | Final Report Containing Audit Findings Can Be Drawn …

Justice Delhi Writ Petition Court Customs Title Delhi High Court

Tax Monthly Digest: November 2024

2 weeks, 6 days ago

Tax Monthly Digest: November 2024

Live Law

SUPREME COURT DRI Officers Can Issue Show-Cause Notices Under Customs Act : Supreme Court Allows Review Against 'Canon India' Judgment Case Details : COMMISSIONER OF CUSTOMS vs. M/S CANON INDIA PRIVATE LIMITED Case no. A division bench of Justices Vibhu Bakhru and Swarana Kanta Sharma ruled, “Assessee's contention that E4e Healthcare is functionally dissimilar to the assessee and therefore, could …

Delhi Supreme Court Writ Petition Writ Jurisdiction Tax Court Uttar Pradesh

Finance Act, 2013 | Audit Report Determining Tax Liability Doesn't Bar Eligibility Under Voluntary Compliance Encouragement Scheme: Delhi HC

3 weeks ago

Finance Act, 2013 | Audit Report Determining Tax Liability Doesn't Bar Eligibility Under Voluntary Compliance Encouragement Scheme: Delhi HC

Live Law

The Delhi High Court has held that an audit report determining liability towards tax dues is not a notice or an order of determination as contemplated under Section 106 of the Finance Act, 2013. Sub-section states that any person may declare his tax dues in respect of which no notice or an order of determination under section 72 or section …

High Court Determination Tax Respect Order Audit Service

Delhi High Court restores Samsung’s plea against ₹1,213-crore tax demand

3 weeks ago

Delhi High Court restores Samsung’s plea against ₹1,213-crore tax demand

Live Mint

In a reprieve for Samsung India, the Delhi High Court on Monday overturned an order by the Income Tax Appellate Tribunal that had dismissed the company’s plea to stay a ₹1,213 crore tax demand for the assessment year 2021-22. A bench comprising Justice Vibhu Bakhru and Justice Swarna Kanta Sharma restored Samsung’s stay application and directed the ITAT to decide …

Tax Samsung Delhi High Court Samsung India Itat

Haryana to reward whistleblowers reporting tax evaders

3 weeks, 2 days ago

Haryana to reward whistleblowers reporting tax evaders

Hindustan Times

Haryana chief minister Nayab Singh Saini announced on Friday that individuals providing information about tax evasion by any person or firm in the state will be rewarded by the state government, assuring that the identity and details of those sharing such information will remain confidential. ₹ 2 crore provision made for excise and taxation department for reward scheme To support …

Tax

[Direct Tax Vivaad Se Vishwas Act] Review Plea Against SLP Constitutes "Disputed Tax" U/S 2(i)(j): Delhi High Court

3 weeks, 6 days ago

[Direct Tax Vivaad Se Vishwas Act] Review Plea Against SLP Constitutes "Disputed Tax" U/S 2(i)(j): Delhi High Court

Live Law

The Delhi High Court has held that a review petition, against the orders passed in SLP by the Supreme Court, is “Disputed Tax” under Section 2 of the Direct Tax Vivad Se Vishwas Act, 2020 and the review petitioner would be eligible to take benefit of “Vivad Se Vishwas Scheme”. Section 2 defines disputed tax in relation to Appeal, Writ …

Tax Department Act Scheme Pending Special Leave Petition Dtvsv Act

[Direct Tax Vivaad Se Vishwas Act] Review Plea Against SLP Constitutes "Disputed Tax" U/S 2(i)(j): Delhi High Court

3 weeks, 6 days ago

[Direct Tax Vivaad Se Vishwas Act] Review Plea Against SLP Constitutes "Disputed Tax" U/S 2(i)(j): Delhi High Court

Live Law

The Delhi High Court has held that a review petition, against the orders passed in SLP by the Supreme Court, is “Disputed Tax” under Section 2 of the Direct Tax Vivad Se Vishwas Act, 2020 and the review petitioner would be eligible to take benefit of “Vivad Se Vishwas Scheme”. Section 2 defines disputed tax in relation to Appeal, Writ …

Tax Review Department Act Scheme Petition Pending

Tax Weekly Roundup: November 18 - November 24, 2024

4 weeks ago

Tax Weekly Roundup: November 18 - November 24, 2024

Live Law

SUPREME COURT Mobile Towers & Pre-Fabricated Buildings Moveable Properties, Qualify As 'Capital Goods' For CENVAT Credit : Supreme Court Case title: M/S BHARTI AIRTEL LTD. v. THE COMMISSIONER OF CENTRAL EXCISE, PUNE Case no. The Court also found substance in State's argument that part of revenue is lost when vehicle is purchased from outside the State and therefore, it held, …

Justice Delhi Writ Petition Tax Court Customs Income Tax

Tax Weekly Roundup: November 18 - November 24, 2024

4 weeks ago

Tax Weekly Roundup: November 18 - November 24, 2024

Live Law

SUPREME COURT Mobile Towers & Pre-Fabricated Buildings Moveable Properties, Qualify As 'Capital Goods' For CENVAT Credit : Supreme Court Case title: M/S BHARTI AIRTEL LTD. v. THE COMMISSIONER OF CENTRAL EXCISE, PUNE Case no. The Court also found substance in State's argument that part of revenue is lost when vehicle is purchased from outside the State and therefore, it held, …

Justice Delhi Writ Petition Tax Court Customs Income Tax

Incorrect Classification Is Not By Itself Collusion/ Wilful Misstatement U/S 28AAA Customs Act; Prior Determination By DGFT Must: Delhi HC

4 weeks ago

Incorrect Classification Is Not By Itself Collusion/ Wilful Misstatement U/S 28AAA Customs Act; Prior Determination By DGFT Must: Delhi HC

Live Law

The Delhi High Court has held that a misclassification or an incorrect classification of goods to be imported or exported would not ipso facto amount to collusion, wilful misstatement, or suppression of facts under Section 28AAA Customs Act, 1962. “Undisputedly, consequent to the self-assessed Bills of Entry having been accepted and thus liable to be viewed as assessed, the stage …

High Court Court Customs Collusion High Department Act

Incorrect Classification Is Not By Itself Collusion/ Wilful Misstatement U/S 28AAA Customs Act; Prior Determination By DGFT Must: Delhi HC

4 weeks ago

Incorrect Classification Is Not By Itself Collusion/ Wilful Misstatement U/S 28AAA Customs Act; Prior Determination By DGFT Must: Delhi HC

Live Law

The Delhi High Court has held that a misclassification or an incorrect classification of goods to be imported or exported would not ipso facto amount to collusion, wilful misstatement, or suppression of facts under Section 28AAA Customs Act, 1962. “Undisputedly, consequent to the self-assessed Bills of Entry having been accepted and thus liable to be viewed as assessed, the stage …

High Court Court Customs Collusion High Department Act

Assessing Officer Not Required To Examine Commercial Expediency Of Transaction When Evaluating Assessee's Explanation U/S 68 Of IT Act: Delhi HC

1 month ago

Assessing Officer Not Required To Examine Commercial Expediency Of Transaction When Evaluating Assessee's Explanation U/S 68 Of IT Act: Delhi HC

Live Law

The Delhi High Court has made it clear that once an assessee offers explanation about nature and source of a credit transaction standing in its books, the burden of proof to show that such explanation is unsatisfactory shifts on the Assessing Officer.A division bench of Justices Vibhu Bakhru and Swarana Kanta Sharma further held that in evaluating the transaction so …

Nature Tax Court Income High Source Transaction

Recourse To Section 147 Of Income Tax Act Not Barred In Cases Where Assessing Officer Is Empowered To Proceed U/S 153C: Delhi High Court

1 month ago

Recourse To Section 147 Of Income Tax Act Not Barred In Cases Where Assessing Officer Is Empowered To Proceed U/S 153C: Delhi High Court

Live Law

S.153C Income Tax Act doesn't bar AO's jurisdiction to reopen assessment u/S 147 when information against assessee is received from search conducted on another person: Delhi High CourtThe Delhi High Court has held that Section 153C of the Income Tax Act, 1961 does not by itself preclude an Assessing Officer from reopening assessments under Section 147/148 of the Act, on …

Delhi Jurisdiction Tax Court Assessment Income Tax Income Tax Act

From Aadhaar-PAN linking to foreign taxation: 5 key income tax services at India International Trade Fair 2024

1 month ago

From Aadhaar-PAN linking to foreign taxation: 5 key income tax services at India International Trade Fair 2024

Live Mint

Visitors to the ongoing International Trade Fair 2024 at Delhi's Pragati Maidan can use several beneficial Income tax services at the Taxpayers' Lounge, specifically designed to offer professional support for various tax-related concerns. To assist taxpayers in navigating their obligations and addressing their problems, the following services are offered: Aadhaar-PAN linking, PAN-related questions, and PAN/e-PAN applications A Permanent Account Number …

Income Pan India International International Trade Fair Taxpayers Lounge

Tax Weekly Round-Up: November 11 To November 17, 2024

1 month ago

Tax Weekly Round-Up: November 11 To November 17, 2024

Live Law

HIGH COURTS Allahabad HC 1. : ITA 1092/2018 The Delhi High Court has held that in order to invoke Section 263 of the Income Tax Act, 1961, the Principal Commissioner must satisfy “twin conditions”, i.e. Assessing Authority Can't Reassess Prior Years Without Inquiry While Determining Relevant Year's Assessment: Kerala High Court Case Title: Kings Infra Ventures Ltd. v. The Assistant …

Delhi Court Customs Income Tax Title Income Tax Act Kerala High Court

Failure to disclose foreign assets, income to invite ₹10 lakh penalty: I-T dept

1 month ago

Failure to disclose foreign assets, income to invite ₹10 lakh penalty: I-T dept

The Hindu

The Income-Tax Department on Sunday cautioned taxpayers that failure to disclose assets held abroad or income earned in foreign shores in the ITR can attract a penalty of ₹10 lakh under the anti-black money law. The advisory specified that foreign asset, for a tax resident of India in the previous year, includes bank accounts, cash value insurance contracts or annuity …

Tax Assets Income Foreign Itr Asset Foreign Asset

Tax Quarterly Digest: July To September 2024

1 month ago

Tax Quarterly Digest: July To September 2024

Live Law

Because Of Refund Due From Assessment Proceedings, Can't Escape Liability Of Depositing Tax Realized: Allahabad High Court The Allahabad High Court has held that a registered dealer cannot withhold the tax realised by him from a purchasing dealer only because he had deposited an excess amount of tax at the time of the transaction. Compensation To Discontinue Commodity Brokerage Business …

India Singapore Justice Mumbai Supreme Court High Court Bombay High Court

Empanelment Of Advocates (Hubballi) Vacancy At Employees Provident Fund Organization (EPFO)

1 month ago

Empanelment Of Advocates (Hubballi) Vacancy At Employees Provident Fund Organization (EPFO)

Live Law

Employees' Provident Fund Organisation is a statutory body of the Ministry of Labour & Employment, Government of India, invites application for empanelment of Advocates to represent the Central Board, EPF before various courts, DCDRF and other lower courts under the jurisdiction of Hubballi Zone) for a period of 03 years from the date of issue of order. • However, the …

Epfo Advocate Hubballi Epf

When Is Action For Imposition Of Penalty 'Initiated' U/S 271C Of Income Tax Act For Failure To Deduct Tax At Source: Delhi HC Explains

Trending News

1 month, 1 week ago

When Is Action For Imposition Of Penalty 'Initiated' U/S 271C Of Income Tax Act For Failure To Deduct Tax At Source: Delhi HC Explains

Live Law

The Delhi High Court recently explained when an action for imposition of penalty under Section 271C of the Income Tax Act, 1961 can be said to have been “initiated”. At the outset, the High Court noted that when a penalty proceeding can be stated to be initiated is squarely covered in favour of the assessee by Principal Commissioner of Income …

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BJP alleges ‘financial irregularities’ in Delhi discoms, seeks probe

1 month, 1 week ago

BJP alleges ‘financial irregularities’ in Delhi discoms, seeks probe

Hindustan Times

The Delhi Bharatiya Janata Party unit on Tuesday sought a probe into alleged financial irregularities in the power distribution companies, or discoms. In a memorandum submitted to lieutenant governor Vinai Kumar Saxena, the BJP delegation led by city unit chief Virendra Sachdeva accused the ruling Aam Aadmi Party government of “helping the discoms score undue financial gains.” "We have met …

Delhi Companies Financial Irregularities Bjp Sachdeva Aap Virendra Sachdeva

Mistake On Part Of AO Resulting In Under Assessment Of Income No Ground To Re-Open Assessment U/S 147 Of Income Tax Act: Delhi HC

1 month, 1 week ago

Mistake On Part Of AO Resulting In Under Assessment Of Income No Ground To Re-Open Assessment U/S 147 Of Income Tax Act: Delhi HC

Live Law

The Delhi High Court has made it clear that once scrutiny assessment is held under Section 143 of the Income Tax Act but due to a mistake of the Assessing Officer there is under assessment of income, reopening assessment under Section 147 of the Income Tax Act, 1961 is not permissible. At the outset, the High Court observed that escapement …

High Court Assessment Income Tax Income Tax Act Income

India's Role in Fair Share Levy on OTT Platforms: GSMA's Gorman

2 months ago

India's Role in Fair Share Levy on OTT Platforms: GSMA's Gorman

Live Mint

India's stance on fair share levy on OTT platforms is a significant topic of discussion. GSMA's Gorman highlights the need for a balanced approach that ensures both OTT players and telecom service providers contribute fairly to infrastructure investment. The debate has intensified globally, with examples set in South Korea and the US, where OTT players have argued against the need …

Government Law Technology Economy New Delhi

Fake registration drive: GST officers detect 10,700 bogus firms, more than ₹10,000 crore evasion

2 months, 4 weeks ago

Fake registration drive: GST officers detect 10,700 bogus firms, more than ₹10,000 crore evasion

The Hindu

“Tax officers have detected around 10,700 fake registrations under the GST, involving evasion of ₹10,179 crore in the ongoing all-India drive against fake companies set up to defraud the exchequer,” a senior official said on Tuesday. Central Board of Indirect Taxes and Customs member Shashank Priya said Aadhaar authentication of GST registration is already in place in 12 States and …

Tax States Registration Fake Crore Gst Drive

GST evasion worth ₹2.02 lakh crore detected in 2023-24; over 40% from online-gaming

3 months, 1 week ago

GST evasion worth ₹2.02 lakh crore detected in 2023-24; over 40% from online-gaming

The Hindu

Goods and Services Tax sleuths detected taxevasion worth almost ₹82,000 crore by 78 real money online gaming firms in 2023-24, but that translated into a voluntary recovery of just ₹53 crore. The online gaming industry is reckoned to have evaded the highest GST levies last year, even as overall detection of indirect tax evasion surged to almost ₹2.02 lakh crore, …

Tax Cases Online Gaming Worth Evasion Dggi Crore Detected

Thank digital tools for small businesses going formal on their own

3 months, 1 week ago

Thank digital tools for small businesses going formal on their own

Live Mint

Despite all that has been said about the success of India’s digital transformation, questions are still being asked as to whether the digital public infrastructure we are so proud of actually reaches those who really need it. Doubts have still been expressed over whether these accounts are actually being used by those who need them or whether the exponential growth …

India Economy Tax Small Businesses Businesses Small Thank Digital

Commercial property rentals now under Reverse Charge Mechanism: GST Council

3 months, 1 week ago

Commercial property rentals now under Reverse Charge Mechanism: GST Council

Hindustan Times

The Goods and Services Tax Council at its 54th meeting in New Delhi on September 9 decided to bring renting of commercial property by an unregistered person to a registered person under Reverse Charge Mechanism, in order to prevent revenue leakage. The GST Council also decided that commercial property will now come under the reverse charge mechanism. Clarifies on tax …

Construction Tax Property Services Location Commercial Charge

Senior Research Officer (F&EA) Vacancy At Telecom Regulatory Authority Of India

3 months, 3 weeks ago

Senior Research Officer (F&EA) Vacancy At Telecom Regulatory Authority Of India

Live Law

Telecom Regulatory Authority of India invites application for the post of Senior Research Officer on deputation on foreign service terms. Name of the Post: Senior Research Officer Essential Qualification and Experience • Officers of the Central Government, Public Sector Undertakings and Statutory and Autonomous Bodies- holding equivalent post in Level-11 on regular basis; or four years of regular service in …

Officer Senior Research Officer Telecom Regulatory Authority Of India Regular Service

Software Expenses Are 'Revenue In Nature' If Fixed Capital Did Not Undergo Any Change Consequent To Acquisition Of Licensed Software: Mumbai ITAT

4 months ago

Software Expenses Are 'Revenue In Nature' If Fixed Capital Did Not Undergo Any Change Consequent To Acquisition Of Licensed Software: Mumbai ITAT

Live Law

Referring to the decision in case of DCIT v/s M/s First Advantage Private Limited, the Mumbai ITAT held that software license expenses incurred by assessee to carry out its routine operations in a more efficient manner, has to be treated as revenue expenditure. The Bench found that the taxability of software license expenditure was decided in favour of assessee by …

Nature Software Revenue Tribunal Bench License Expenditure

Income Tax Deduction Allowable To Interest Income 'Attributable' To Cottage Industry Business: ITAT

4 months ago

Income Tax Deduction Allowable To Interest Income 'Attributable' To Cottage Industry Business: ITAT

Live Law

The Chennai bench of Income Tax Appellate Tribunal has held that the income tax deduction allowable to interest income 'attributable' to cottage industry business.The bench of S.S. Viswanethra Ravi and S. R. Raghunatha has observed that the assessee is a 'cottage industry' and the interest income earned by the assessee is in its regular course of. The Chennai bench of …

Society Tamil Nadu Industry Tax Bank Interest Interest Income

ITAT Weekly Round-Up: 11 To 17 August 2024

4 months ago

ITAT Weekly Round-Up: 11 To 17 August 2024

Live Law

ITAT Declines To Stay Cancellation Of Exemption Notification To Legal Initiative For Forest And Environment Trust Case Title: Legal Initiative For Forest And Environment Versus PCIT The Delhi Bench of Income Tax Appellate Tribunal has dismissed the stay application filed by assessee-LIFE Trust against the withdrawal/cancellation of registration for exemption granted under section 12A/12AA/12AB from FY 2013-14 onwards. ITAT Allows …

Ahmedabad Income Tax Title Tribunal Held Bench Versus

Direct Tax Weekly Round-Up: 11 To 17 August 2024

4 months ago

Direct Tax Weekly Round-Up: 11 To 17 August 2024

Live Law

Delhi High Court Failure Of Dept. Value Of Shares Allotted Under Employees Stock Purchase Scheme Can't Be Treated As Perquisite As Per Sec 17: Delhi High Court Case Title: Ravi Kumar Sinha vs. CIT While emphasizing that no tax can be levied on notional income, the Delhi High Court held that Valuation Report obtained by employer could have no application …

Delhi Court Assessment Income Tax Title Income 2024

IIT Delhi faces ₹120 crore GST show-cause notice over research grants: Report

4 months, 1 week ago

IIT Delhi faces ₹120 crore GST show-cause notice over research grants: Report

Hindustan Times

The Indian Institute of Technology Delhi has reportedly been issued a show-cause notice by the directorate general of Goods and Services Tax Intelligence, demanding ₹120 crore in tax on research grants received between 2017 and 2022, along with interest and penalties. Government officials have said that various educational institutions throughout India such as leading IITs, central universities and both state-run …

Research Notice Iit Gst Research Grants