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Bombay High Court Dismisses Assessee's Appeal in Income Tax Case on Dividend Distribution Tax Rate. DDT under Section 115-O is a tax on the company, not on shareholders, and the India-UK DTAA does not provide a lower rate for DDT.

The Bombay High Court dismissed a batch of seven appeals filed by Foseco India Ltd. under Section 260A of the Income Tax Act, 1961, challenging a comm...

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Madras High Court Allows MRF Ltd. Appeal on Fringe Benefit Tax for Medical Reimbursement. Medical Reimbursement up to Rs.15,000 per Employee per Annum Not Chargeable to Fringe Benefit Tax Under Section 115WB(2) of Income Tax Act, 1961.

The appellant, MRF Ltd., a company manufacturing automobile tyres and rubber products, filed Tax Case Appeals under Section 260A of the Income Tax Act...

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High Court of Karnataka Quashes Service Tax Demand on Payment Aggregator Services for FY 2015-16. Services Provided by FIS Payment Solutions to Acquiring Banks for Settlement of Card Transactions Held Not Taxable as 'Business Auxiliary Service' Under Finance Act, 1994.

The petitioner, FIS Payment Solutions and Services India Private Limited, a company incorporated under the Companies Act, 1956, provides payment aggre...

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Supreme Court Allows NCDC's Appeal in Income Tax Dispute Over Deduction of Grants as Revenue Expenditure. Grants disbursed by a statutory corporation as part of its business are deductible under Section 37 of the Income Tax Act, 1961, regardless of the capital nature of the source funds.

The National Co-operative Development Corporation (NCDC), established under the National Co-operative Development Corporation Act, 1962, is a statutor...

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Supreme Court Dismisses Department's Appeal in Permanent Establishment Tax Dispute Under India-Korea DTAA. Court Upholds ITAT's Finding of Permanent Establishment but Remands Profit Attribution for Fresh Assessment Due to Insufficient Material.

The dispute arose from the taxability of income attributable to a permanent establishment set up in India by Samsung Heavy Industries Co. Ltd., a Sout...

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Bombay High Court Quashes Reopening of Assessment Under Section 148 of Income Tax Act, 1961 for Non-Resident Company — Lack of Reasonable Belief of Income Escaping Assessment. Reassessment Based on Mere Change of Opinion is Impermissible; Notice and Order Rejecting Objections Set Aside.

The petitioner, Indivest Pte Ltd, a company incorporated in Singapore and wholly owned by the Government of Singapore, filed a writ petition challengi...

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Bombay High Court Allows Assessee in Income Tax Reference Under Section 256(1) of Income Tax Act, 1961 — Profits on Sale of Machinery Not Taxable Under Section 41(2) as Depreciation Was Claimed by Dissolved Firm, Not by Assessee.

The case involves a reference under Section 256(1) of the Income Tax Act, 1961 by the Income Tax Appellate Tribunal, Mumbai, for the opinion of the Bo...