Daily Archives: November 12, 2015

Interest earned by Finance Company not taxable as income from other sources as it was held as business income in earlier years

Interest income of finance company not taxable as other sources of income if it was held as business income in earlier years IN THE ITAT MUMBAI BENCH ‘C’ Preimus Investment & Finance Ltd. v. Deputy Commissioner of Income-tax I.P. BANSAL, JUDICIAL MEMBER AND RAJENDRA, ACCOUNTANT MEMBER IT APPEAL NO. 4879 (MUM.) OF 2012 [ASSESSMENT YEAR… Read More »

Payment for Online access to E learning programs In india is royalty liable for TDS u/s 195

AUTHORITY FOR ADVANCE RULINGS (INCOME-TAX), NEW DELHI SkillSoft Ireland Ltd., In re JUSTICE V. S. SIRPURKAR, CHAIRMAN AND A.K. TEWARY, MEMBER A.A.R. NO. 985 OF 2010 JULY  20, 2015 Nageshwar Rao, Advocate, Pankaj Agarwal, CA and Aniket D. Agrawal, Advocate for the Applicant. K.V. Arvind, SC,Smt. Sukhvinder Khanna, CIT-DR and Sachin Dhania, DCIT-DR for the… Read More »