Search Results for "Interest Disallowance"

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High Court of Bombay at Goa Allows Appeal in Income Tax Case — Commission Payment to Non-Resident Not Liable to TDS Under Section 195 of Income Tax Act, 1961. Disallowance Under Section 40(a)(ia) Cannot Be Sustained When Income Is Not Chargeable to Tax in India.

The appellant, M/s Zephyr Biomedicals, a partnership firm, filed its return of income for Assessment Year 2006-2007 declaring total income of Rs.8,35,...

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High Court of Madras Considers Interplay of Section 40A(7) and Section 43B for Deduction of Gratuity Provision. The Court Examined Whether Specific Provision Overrides Requirement of Actual Payment, but Final Verdict Not Available in Provided Excerpt.

The case concerned an appeal by the assessee, a manufacturer of specialty chemicals, against the disallowance of a provision for gratuity of Rs.31,24,...

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Madras High Court Allows Appeal in Income Tax Reassessment Case — Misappropriation by Partner's Relative Not Covered Under Section 40A(2) of Income Tax Act, 1961. Reassessment based on same material held invalid as change of opinion.

The assessee, M/s.Karpaga Vinayagar Papers, a partnership firm, filed its income tax return for Assessment Year 2001-2002 admitting a total income of ...

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Bombay High Court Upholds Assessment of Private Specific Trust as Association of Persons, Dismissing Assessee’s Appeal. Interest Disallowance under Section 40(ba) of Income Tax Act, 1961 Affirmed as Finding of Fact Not Perverse, Assessee’s Own Declaration as AOP Held Relevant.

The appeal under Section 260A of the Income Tax Act, 1961 arose from the Assessment Year 1998-1999 concerning the status of the assessee, Mehta Jaisin...

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Bombay High Court Allows Writ Petition for Non-Compliance of DRP Directions Within Statutory Time Limit Under Section 144C(13) of Income Tax Act, 1961. Failure to Complete Assessment Within One Month of Receiving DRP Directions Renders Transfer Pricing Addition Time-Barred and Non-Est.

The Petitioner, Archroma International (India) Private Limited (formerly Huntsman International (India) Private Limited), filed a Writ Petition under ...