News Update

 
Page 26
Mumbai, January 07, 2019
ST - Service rendered by 'lead generator' is not that of an 'insurance agent' - commission paid not liable to tax: CESTAT
 
New Delhi, January 07, 2019
I-T - If royalty and sponsorship fee received, are incidental income earned out of non-business activity and is used for charitable purpose, is not taxable income : ITAT
 
Chennai, January 05, 2019
I-T - Assessee has right to approach Appellate Authority seeking interim stay during pendency of assessment order, and same should not be rejected simply without stating reasons: HC
 
Ernakulam, January 04, 2019
I-T - Banks extending financial services, are eligible for amortisation of preliminary expenses in connection with issuance of shares for public subscription: HC
 
Mumbai, January 04, 2019
ST - Tribunal has not properly considered its observations made in Stay order while passing final order - apparent mistake needs rectification: CESTAT
 
New Delhi, January 03, 2019
I-T - Judiciary cannot be petitioned to give direction to Legislature to amend tax law in a particular manner: SC Larger Bench
 
Mumbai, January 03, 2019
ST - IPL - Services provided by appellant in terms of media rights agreement to licensee designated as 'Official Broadcaster' is Franchise Services: CESTAT
 
Mumbai, January 03, 2019
I-T - Hedging contract entered into by manufacturer solely for purposes of making profit out of its manufacturing activity, is no basis to deny such profit arising out of hedging: HC
 
Mumbai, January 03, 2019
ST - Appellant had rendered services to local exporters in sale of seafood and received commission from them - cannot be considered as 'export of service': CESTAT
 
Mumbai, January 03, 2019
I-T - When settlement of shares was done by settler of Trust by way of ESOP and not direct purchase from market, then income generated therefrom cannot be construed as 'business income' of trust: HC
 
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