Income Tax

IT-Payment towards VSAT/Transaction charges made by a Stock Broker to Stock Exchange is not fee for technical services u/s 194J
[ITAT-Mum.] Source : taxmann.com

RTI

RTI Act cannot be applied to claim exemption from disclosure of information, provided by an assessee to IT Dept. for asst. purposes, to 3rd party [CIC]. source www.taxmann.com

Service Tax

E-payment of Service Tax & E-filing of ST Return made mandatory in case of payment of Service Tax above Rs. 10 lakhs [Source : www.taxmann.com]

Income tax

IT - Commission paid for sale of SIM card, pre-paid or post-paid, is commission as envisaged under section 194H [Del.] : Source : www.taxmann.com

Royalty

Reference in Art. 13(3)(c) of Indo-Canada DTAA is to “any copyright” and not to “any right” for purpose of terming a payment as ‘royalty’ [Del.] : Taxmann.com

TDS Rules

New TDS Rules Notified [Source : www.taxmann.com ]

Income tax

IT - Word ‘capital asset’ in section 2(14) does not necessarily mean that property, which assessee holds, must be his own [ITAT-Mum.] : Taxmann.com


IT - Provisions of section 194C(1) is applicable to job work assigned by an event manager to others [ITAT-Mum.] : Source : www.taxmann.com

CL - For a person to be vicariously liable for an offence committed by a company under SEBI Act, he need not necessarily be a Director of that company [Delhi]


IT - Any expenditure incurred for construction of a hospital building for general public is expenditure incurred for charitable purposes [Allah.] : Taxmann.com



IT - Income earned by an NRI from his employment in USA can not be taxed under Income-tax Act [AAR] : Source : taxmann.com

FDI – New pricing norms for revision of conversion price of FCCBs extended [Source : www.taxmann.com]



IT - Deferred revenue expenditure is essentially revenue in nature [ITAT-Ahd.] : Source : www.taxmann.com



IT – Sec. 80-IA(2) does not provide that first year of 10 consecutive AYs should be always first year when assessee starts service [ITAT-Ahd.] : Taxmann.com

NBFCs – Classification of NBFCs stands modified to include Infrastructure Finance Companies [Source : www.taxmann.com]


IT – Payment made by an ad. agency to an accredited ad. agency for release of its ads. in print media does not fall within ambit of sec. 194C(1) [ITAT-Bang.]



IT – Interest could be levied u/s 234B(3) for the first time in reassessment completed under section 147 [Kerala] : Source : www.taxmann.com


IT - No further adjustments in ALP are required when difference between ALP determined by assessee and by AO varies not more than 5% [ITAT-Del.] www.taxmann.com



IT - Sale of stock exchange membership card of a defaulting member by Stock Exchange amounts to “transfer” [Kerala] : Source : www.taxmann.com



IT - Amount paid for compounding an offence can never be an amount in nature of expenditure which can qualify for deduction u/s 37(1) [Kar.] : taxmann.com