An award couldn’t be set aside merely on ground of non-existence of arbitration clause in agreement : HC

COMPANY LAW/ARBITRATION ACT : Where plea of appellant about non-existence of arbitration clause in agreement between parties, had not been accepted by Court in application under section 11(6), impugned arbitral…

Continue Reading An award couldn’t be set aside merely on ground of non-existence of arbitration clause in agreement : HC

SLP granted against ruling that proviso to Sec. 194A(1) is restricted to individual/HUF having specified turnover

INCOME TAX : SLP granted against High Court ruling that benefit of exclusion from purview of section 194A is restricted only to those individuals and Hindu Undivided families whose total…

Continue Reading SLP granted against ruling that proviso to Sec. 194A(1) is restricted to individual/HUF having specified turnover

Medallion is also classified as pendant; Sec. 10AA exemption could not be denied to jewellery manufacture

INCOME TAX : A medallion is also classifiable as a pendant; therefore, assessee could not be denied exemption under section 10AA on ground that it had violated approval granted by…

Continue Reading Medallion is also classified as pendant; Sec. 10AA exemption could not be denied to jewellery manufacture

Commission paid to non-resident agents not having any PE in India not taxable in India

INTERNATIONAL TAXATION : Where non-resident agents had rendered their services outside India and all agents had overseas offices and they were not having any permanent establishment in India, commission paid…

Continue Reading Commission paid to non-resident agents not having any PE in India not taxable in India

SLP granted against ruling that proviso to Sec. 194(1) is restricted to individual/HUF having specified turnover

INCOME TAX : SLP granted against High Court ruling that benefit of exclusion from purview of section 194A is restricted only to those individuals and Hindu Undivided families whose total…

Continue Reading SLP granted against ruling that proviso to Sec. 194(1) is restricted to individual/HUF having specified turnover

Income arising to Co. by reversing entries of stock option given to employees eligible for Sec. 10A/10B exemption

INCOME TAX : Income brought to tax under section 41(1) by reversal of entry with regard to stock option scheme given to employees was also in nature of 'export income'…

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Levy of license fees under GPMC Act for advertising hoardings in pvt. properties is constitutionally valid: Guj. HC

GST/EXCISE/ST/VAT : Section 386(2) of Gujarat Provincial Municipal Corporation Act,1949 provides for levy of license fees for license to place advertising hoardings in private properties and sanction of Corporation is…

Continue Reading Levy of license fees under GPMC Act for advertising hoardings in pvt. properties is constitutionally valid: Guj. HC