Daily Archive: Sunday, May 8, 2016

Payments to foreign professional firms by Indian CA firm for audit, taxation, VAT services not fee for technical services for disallowance u/s 40(a)(ia)

Author: | Categories: Income Tax, ITAT, Judgments No comments
Payments to foreign professional firms by Indian CA firm for audit, taxation, VAT services not fee for technical services  for making disallowance u/s 40(a)(ia)  for non-deduction of tax at source. This was held by ITAT Mumbai in its following recent judgment Case Law Details: ITA No. 1917/MUM/2013 (Assessment Year

DVO Reference u/s 55A condition u/s 50C applies only when stamp duty value is higher than the sales consideration as per agreement-ITAT

Author: | Categories: Income Tax, ITAT, Judgments No comments
DVO Reference u/s 55A condition u/s 50C applies only when stamp duty value is higher than the sales consideration as per agreement. This was held by ITAT Mumbai in its recent judgment as under: Case Law Details: ITA No. 5133/Mum/2014  Assessment Year : 2009-10 Dy. Commissioner of Income Tax vs. M/s Shree Aditya Finwealth

Assessee entitled to option u/s 112(1)(a) for indexation/ non-indexation and pay tax on capital gains @20% or 10%. Benefit cannot be denied merely for not filing details in income return.

Author: | Categories: Income Tax, ITAT, Judgments No comments
Assessee entitled to option u/s 112(1)(a) for indexation/ non-indexation and pay tax on capital gains @20% or 10%. Benefit cannot be denied merely for not filing details in income return. This was ruled by ITAT Mumbai in a recent judgment as under. Case Law Details: ITA No. 5977/Mum/2013  Assessment Year : 2010-11 Sanju
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