Daily Archives: January 26, 2017

Immunity from prosecution on payment of sum specified in settlement order

By | January 26, 2017

Supreme Court grants immunity from prosecution on payment of sum specified in the settlement order: The Supreme Court of India granted immunity from prosecution to the appellant on payment of the sum specified in the settlement order, beyond the time granted by the settlement commission but before filing the special leave application with the Supreme… Read More »

Participation in management does not make associated enterprises u/s 92A of Income Tax

By | January 26, 2017

Participation in management, associated enterprises The Ahmedabad Bench of Income-tax Appellate Tribunal held that the mere fact of participation by one enterprise in the management or control or capital of the other enterprise, or the participation of one or more persons in the management or control or capital of both the enterprises does not make… Read More »

Sales promotion Expenses by pharmaceutical companies allowed u/s 37 of income tax

By | January 26, 2017

Sales promotion Expenses by pharmaceutical companies The Mumbai tribunal held that expenditures incurred in holding seminars, sponsoring lectures, sponsoring travel and accommodation for conferences, small gifts with logo and brand names and cost of samples given to medical practitioners are in the nature of sales promotion expenditure incurred for the business of the taxpayer. Since… Read More »

GST council 9th meeting decisions

By | January 26, 2017

GST council 9th meeting decisions At its ninth meeting, the GST council made decisions regarding dual control over the taxation base, cross empowerment, and implementation date of goods and services tax (GST). The GST deadline has now been deferred to 1 July 2017. Read GST council 9th meeting decisions [PDF 315 KB] of KPMG

Export commission not taxable in India absent specific fees for technical services article in tax treaties:

By | January 26, 2017

Export commission not taxable in India absent specific “ fees for technical services ” article in tax treaties The Ahmedabad Bench of the Income-tax Appellate Tribunal held that the amount of export commission paid to non-resident commission agents is not taxable in India, since there is no specific fees for technical services article in respective… Read More »

Validity of penalty proceedings under Income-tax Act

By | January 26, 2017

Validity of penalty proceedings under Income-tax Act The Hyderabad Bench of the Income-tax Appellate Tribunals held that since the Assessing Officer (AO) did not mention whether the notice issued was for concealment of income or for furnishing of inaccurate particulars of income, the notice issued by the AO under Section 274 read with Section 271(1)(c)… Read More »

Writ petition maintainable against initiation of reassessment proceedings

By | January 26, 2017

Writ petition is maintainable against initiation of reassessment proceedings The Supreme Court of India held that a writ petition challenging the initiation of reassessment proceedings by issuing notices under Section 148 of the Income-tax Act, 1961 is maintainable before the High Court. A common issue in the batch of appeals was with regard to maintainability… Read More »

GST Provisional IDs for Excise & Service Tax -CBEC Approach for Registrations

By | January 26, 2017

GST Provisional IDs for Excise & Service Tax Approach for selection of Registrations for issuance of Provisional IDs Overview: CBEC has started the process of migrating the existing Central Excise (CE) and Service Tax (ST) registrations to GST and issue Provisional IDs to them. As a mandatory requirement, only PAN based registrations would be issued… Read More »