Disallowance u/s 14A gets attracted even if a mix of interest bearing & non-bearing funds used to make investments earning exempt income Case Law Citation: –M/s Thermotech Engineering vs. ACIT, Pune (ITAT Pune), ITA No.- 533/PN/2013, Date of Pronouncement – 30.10.2015, Assessment Year-2009-10 Brief of the case: The ITAT bench of Pune in the case […]
Cancellation of Registration U/s 12AA(3) should be based on activities of Trust and not of Trustees Case Law citation:-Friends of WWB India Vs Director of Income Tax-Exemption (ITAT Ahmedabad), ITA No. 2076/Ahd/2014, Asstt year 2009-10, Date of decision – 14-08-2015 Appeal is raised by assessee against order of the Director of Income Tax (Exemption) issued […]
Non-Bailable Offences Under Companies Act, 2013 The Companies Act, 2013 has categorized certain offences at par with criminal offences under the Code of Criminal Procedure, 1972 (Cr. PC) thereby has identified the same as cognizable and non-bailable. Thus, it is quintessential for the Promoters, Directors, Manager, Officers and other key managerial personnel to understand various […]
PF Withdrawal is now Easier for Employees to Benefit Recently, EPFO allowed its subscribers to file their PF withdrawal applications directly to the retirement fund body without employers’ attestation thereby easing the process of PF withdrawal by employees. Facts about new process of PF Withdrawal: 1. The Universal Account Number (UAN) facility was launched last […]
Transfer pricing adjustment is not one of the adjustments contemplated under Explanation 1 Section 115JB(2) Case Law Citation: -M/s. Cash Edge India (Pvt.) Ltd., vs. ITO, (ITAT DELHI), ITA No. 64/Del/2015, Date of Decision: 23.09.2015 Brief of the case: In the case of M/s. Cash Edge India (Pvt.) Ltd., vs. ITO Delhi Bench of ITAT […]