Facts of the case: S had engaged the services of the assessee for collection of the subscription amount against the commission and the assessee had remitted the entire gross amount received from the cable operators to S. The amount remitted [Read More]
Case 1 – Diversion of income by overriding title: Facts of the case: the assessee is an individual, engaged in retail business and earned income from franchisee/commission from M/s. Arvind mills. The assessee filed a return of income on 29.9.2009 [Read More]
Due dates for the Month of September 2021 7th INCOME TAX – TDS Payment for August. 10th GST – Return of authorities deducting tax at source – GSTR 7 for August. – Details of supplies effected through e-commerce operator and [Read More]
Case 1: The assessee had been taking contracts in its name as well as in the names of its director and the Assessing Officer agreeing with the contentions of the assessee that as both the receipts were deposited in the [Read More]
Facts: A TDS survey was conducted by the Asstt. Commissioner of Income-tax at the premises of the assessee-company. The Assessing Officer passed an order under section 201 holding that it failed to deduct the TDS in respect of provisions of [Read More]
Facts of the case: The original assessee Shri S. P. Patel (hereinafter referred to as “the assessee”) and his brother were partners in a firm known as M/s. Patel Brothers having 50 percent, share each in the profit and loss [Read More]
Facts of the case: The facts obtaining in the case decided by the Punjab and Haryana High Court in CIT v. Punjab Financial Corporation [2009] 181 Taxman 209 (P&H) were that the assessee, a financial corporation, had an agreement with [Read More]
Facts: The assessee was following the cash system of accounting. She was holding cumulative term deposits in a bank entitling her for interest, which was periodically credited by the bank in the deposit account of the assessee. During the previous [Read More]
Facts: The assessee was a partnership firm engaged in the manufacture of PSCC/RCC and MS pipes, cement slabs and also executed civil contracts. Subsequently, by virtue of the conversion, all the assets and liabilities of the erstwhile partnership firm [Read More]
Facts of the case The assessee company entered into a foreign technical collaboration for Basic Engineering and Training (BEAT) Agreement with D, a foreign company, to set up a gas-based Sponge Iron Plant in India. In terms of the agreement, [Read More]