Trust can’t be treated as AOP if order canceling its registration was set-aside by ITAT: HC

INCOME TAX : Where registration granted to assessee under section 12AA was cancelled by Commissioner and said order of cancellation of registration was set aside by Tribunal, assessee to be…

Continue ReadingTrust can’t be treated as AOP if order canceling its registration was set-aside by ITAT: HC

No abuse of dominance by PSWC in not hiking rent payable to godown owners despite increase in storage charge: CCI

COMPETITION LAW : Not paying annual increases in rent increasing to private godown owners is not abuse of dominance by PSWCCOMPETITION LAW : Not paying annual increases in rent increasing…

Continue ReadingNo abuse of dominance by PSWC in not hiking rent payable to godown owners despite increase in storage charge: CCI

Writ couldn’t be entertained if statutory authority yet to conclude reassessment proceedings: HC

INCOME TAX : Where assessee by way of writ petition challenged order passed under section 148A(d) along with notice issued under section 148 on ground that response filed by assessee…

Continue ReadingWrit couldn’t be entertained if statutory authority yet to conclude reassessment proceedings: HC

Decision of PSWC not to hike rent payable to godown owners despite increase is storage charge wasn’t abuse of dominance

COMPETITION LAW : Not paying annual increases in rent increasing to private godown owners is not abuse of dominance by PSWCCOMPETITION LAW : Not paying annual increases in rent increasing…

Continue ReadingDecision of PSWC not to hike rent payable to godown owners despite increase is storage charge wasn’t abuse of dominance

Fee and other charges payable to SEBI shall be subject to GST @ 18% w.e.f July 18, 2022: SEBI reiterates

The GST Council in its meeting held on 28.06.2022 and 29.06.2022, recommended withdrawing the GST exemption granted to services by SEBI and the same was notified vide. Notification No.4/2022 dated…

Continue ReadingFee and other charges payable to SEBI shall be subject to GST @ 18% w.e.f July 18, 2022: SEBI reiterates

Sec. 41(2) not applicable if co. claiming losses towards impairment of assets continue to hold such assets

INCOME TAX : Section 41(2) deals with charging of income in year in which it is sold, discarded, demolished or destroyed, hence, where assessee continued to hold fixed assets and…

Continue ReadingSec. 41(2) not applicable if co. claiming losses towards impairment of assets continue to hold such assets

Social Security Contributions for Expatriates – Taxability and deductibility under the Indian Income-tax Act

Secondment is a very familiar concept across the globe. Various multinational organizations send their personnel on secondment to various countries to integrate their services and to bring stability and uniformity…

Continue ReadingSocial Security Contributions for Expatriates – Taxability and deductibility under the Indian Income-tax Act

HC remanded matter back as no opportunity of hearing had been accorded to assessee before passing reassessment order

INCOME TAX : Where no reasonable opportunity of hearing had been accorded to assessee before passing impugned faceless assessment order, said order was to be set aside and matter was…

Continue ReadingHC remanded matter back as no opportunity of hearing had been accorded to assessee before passing reassessment order

Trust can’t be assessee as AOP if order cancelling trust registration was set-aside by ITAT: HC

INCOME TAX : Where registration granted to assessee under section 12AA was cancelled by Commissioner and said order of cancellation of registration was set aside by Tribunal, assessee to be…

Continue ReadingTrust can’t be assessee as AOP if order cancelling trust registration was set-aside by ITAT: HC