Income Tax - Section 43B read with Section 145A, Addition of unpaid excise duty on closing stock - Appellant followed the exclusive method of accounting, under which excise duty was routed through the balance sheet and not debited to the P/L Account. The Tax Auditor’s Report showed an unpaid balance...
Income Tax - Revision under Section 263 of the Income Tax Act, Jurisdiction of PCIT where the AO has made inquiry on the issue - Respondent, a partnership firm engaged in the business of ceramic tiles, declared a loss and the return was selected for scrutiny. The AO passed an order under Section 143...
Income Tax - Deduction under Section 80P(2)(d) on Interest and Dividend Income from Investment in Co-operative Banks - Respondent, a co-operative society, filed its return claiming deduction under Chapter VI-A and the AO denied deduction under section 80P(2)(d) holding that interest and dividend inc...
Income Tax – Disallowance of expenditure estimated as attributable to interest on foreign currency loans chargeable at the special rate under Section 115A, Taxability of interest received from and paid to Head Office and overseas branches and applicability of Section 14A to such interest, Allowabili...
Income Tax – Taxability of consideration for assignment of trademarks as royalty under section 9(1)(vi) and Article 12 or as gains from alienation under Article 13(6) of India-Switzerland DTAA - The Appellant, a company resident in Switzerland, assigned three registered trademarks in India to three...