BRIEF ANALYSIS OF THE INTERIM UNION BUDGET 2019
BRIEF ANALYSIS OF THE INTERIM UNION BUDGET 2019 The acting finance minister pronounced the Interim Union Budget, 2019. In this alert, we bring to you a brief analysis of the tax proposals announced as part of the interim budget and other proposals. All the below amendments are proposed to be effective from fiscal year 2019-20.
Read MoreNOIDA IS A CORPORATION ESTABLISHED BY A STATE ACT AND IS, THEREFORE, ENTITLED TO EXEMPTION OF PAYMENT OF TAX AT SOURCE UNDER SECTION 194A(1): SUPREME COURT
NOIDA IS A CORPORATION ESTABLISHED BY A STATE ACT AND IS, THEREFORE, ENTITLED TO EXEMPTION OF PAYMENT OF TAX AT SOURCE UNDER SECTION 194A(1): SUPREME COURT Commissioner of Income Tax (TDS), Kanpur Vs. Canara Bank [(2018) 9 Supreme Court Cases 322] FACTS OF THE CASE The New Okhla Industrial Development Authority (NOIDA) (“the Authority”) has
Read MoreFIRST RIGHT OF IT DEPARTMENT ON SOLD AND MORTGAGED PROPERTY TO RECOVER ITS DUES
FIRST RIGHT OF IT DEPARTMENT ON SOLD AND MORTGAGED PROPERTY TO RECOVER ITS DUES Introduction Section 281 of the Income-tax Act, 1961 (ITA) is one of such sections which may have a serious impact on taxpayers acquiring any right in a property. The crux of the section is that, in certain situations, transfer of an
Read MoreITAT, BANGALORE: ONLY DATA OF RELEVANT FINANCIAL YEAR SHALL BE CONSIDERED FOR ASCERTAINING ALP IN AN INTERNATIONAL TRANSACTION
ITAT, BANGALORE: ONLY DATA OF RELEVANT FINANCIAL YEAR SHALL BE CONSIDERED FOR ASCERTAINING ALP IN AN INTERNATIONAL TRANSACTION DCIT Circle-11 (4), Bangalore vs. Softbrands India (P.) Ltd [2017] 88 taxmann.com 263(Bangalore-Trib) ITAT, Bangalore upheld the order of the CIT(Appeals) by stating that “in terms of Rule 10B(4) (of Income Tax Rules, 1962) data to be
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