Thursday, January 2, 2020

NCLT Rejects Sun Pharma’s Plan to Demerge Overseas Subsidiary

NCLT Rejects Sun Pharma’s Plan to Demerge Overseas Subsidiary

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FDI Inflows in Q2 Decline 1.4% to US9.7 b YoY, Fall 40% Sequentially

FDI Inflows in Q2 Decline 1.4% to US9.7 b YoY, Fall 40% Sequentially

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FDI inflows up 15% in H1FY20

FDI inflows up 15% in H1FY20

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Pitch and substance of each contract entered by NR Co. to be evaluated before examine applicability of sec. 44BB

INTERNATIONAL TAXATION : Where Assessing Officer characterized charter receipts earned by assessee, a non-resident company from provision of services of various vessels as royalty by denying specific exclusion granted for activities covered under section 44BB from definition of 'royalty' in Explanation 2 to section 9(1)(vi) on ground that no amounts were offered to tax under section 44BB by assessee, since Assessing Officer has not examined applicability of section 44BB by looking into whether p

from www.taxmann.com Latest Case Laws https://ift.tt/2ZKdkwM

Tuesday, December 31, 2019

HC upheld assessment order as hearing opportunity was given before transferring case to another jurisdiction

INCOME TAX: Where competent authority transferred assessment of assessee from Chennai to Bangalore for centralisation for co-ordinated investigation after giving due opportunity of being heard to assessee, impugned order was to be upheld

from www.taxmann.com Latest Case Laws https://ift.tt/2ZFywEn

Waiver of principal amount of deposits and debentures by NBFC constituted capital receipt; SLP dismissed

INCOME TAX: Where in case of assessee-NBFC, High Court took a view that waiver of principal component of deposits and debentures constituted capital receipt, SLP filed against said order was to be dismissed

from www.taxmann.com Latest Case Laws https://ift.tt/2ZBxB7Z

PVC pipes manufactured for irrigation purposes are classified under Heading No. 8424 90 00

GST/EXCISE/ST/VAT : Where assessee was engaged in manufacture of agriculture and horticulture equipments at its Unit No. 1 and it also manufactured PVC pipes at its Unit No. 2 and supplied same to its Unit No. 1 for use in manufacture of drip/sprinkler irrigation system, PVC pipes were classifiable under Heading No. 8424 90 00

from www.taxmann.com Latest Case Laws https://ift.tt/36cbqaT

AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...