Brothers & Sisters Enterprise vs. JCIT (ITAT Kolkata)

CBDT guidelines for scrutiny of cases: Law explained as to how the CBDT Guidelines for manual selection of cases for scrutiny have to be interpreted and whether CIT in granting approval is required to show application of mind and give reasons for his decision

The Criteria / Guidelines for Income tax Scrutiny dated 10th September 2011 authorize the Assessing Officer to select any return for scrutiny after recording the reasons and obtaining approval of the CCIT/CIT. The case under the category should be selected if, they are compelling the reasons and the case selected through CASS. These cases should be watched by CCIT / CIT in respect of the quality of assessment. In our view, the requirements of the guidelines have been met by the AO in this case. The term compelling reasons is a relative term and has to be viewed from the point of view of the AO Read the rest of this entry »

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Divya Creation vs. ACIT (ITAT Delhi)

S. 195 TDS: Entire law explained on whether payment of commission to non-resident agents for services rendered outside India is liable to tax in India u/s 5(2)(b) and 9(1)(i) on the ground that the “source” of the payment is in India and that the insertion of the Explanation to s. 9(2) with retrospective effect by the Finance Act 2010 makes such payments taxable

The Hon’ble Allahabad High Court in the case of CIT vs. Model Exims reported in 363 ITR 66 has held that failure to deduct tax at source from payment to non-resident agents, who has their own offices in foreign country, cannot be disallowed, since the agreement for procuring orders did not involve any managerial services. It was held that the Explanation to section 9(2) is not applicable. It was further held that the situation contemplated or clarified in the Explanation added by the Finance Act, 2010 was not applicable to the case of the assessee as the agents appointed by the assessee had their offices situated in the foreign country and that they did not provide any managerial services to the assessee. Section 9(1)(vii) deal with technical services and has to be read in that context. The agreement of procuring orders would not involve any managerial services. The agreement did not show the applicability or requirement of any technical expertise as functioning as selling agent, designer or any other technical services Read the rest of this entry »

State Budget:Tamil Nadu-2017-18-English version.

Budget Speech of Thiru D. Jayakumar, Hon’ble Minister for Fisheries, Finance and Personnel and Administrative Reforms, Government of Tamil Nadu,  for the year 2017-2018 to the Legislative Assembly on 16th March, 2017. Read the rest of this entry »

Budget: Kolkata Municipal Corporation-2017-2018-English.

Budget statement for the year 2017-2018 of Kolkata Municipal Corporation.

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State Budget : Meghalaya-2017-2018-English.

Budget speech for the state of Meghalaya for the year 2017-2018.

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State Budget:Goa-2017-2018-English.

Budget Speech for the state of Goa for the year 2017-2018.

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State Budget:Tripura 2017-2018-English.

Budget Speech for the state of Tripura for the year 2017-2018.

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