Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights September 2013 Year 2013 This

Discontinued business u/s 176 - addition on account of receipt ...


Arrears of Professional Fees Post-Business Closure Not Taxable Under Income Tax Act Section 176.

September 17, 2013

Case Laws     Income Tax     AT

Discontinued business u/s 176 - addition on account of receipt of arrears of professional fees - Discontinuation from legal profession - Not taxable - AT

View Source

 


 

You may also like:

  1. The assessee failed to deduct tax on professional fees paid to various non-residents. The Assessing Officer (AO) held that the fees were liable to tax in India under the...

  2. TDS disallowance u/s 40(a)(i) for non-deduction on overseas payments towards patent fees, reimbursement of official fees and professional fees, treating such payments as...

  3. Income from license fees - income under the head ‘Income from other sources’ OR 'business income' - AT

  4. Nature of income - professional fees received by the doctor from the Hospital - Taxable as salary or Income from Business or profession - There is no master-servant...

  5. Non-Compete fees - taxability - chargeable to tax as ‘business income’ - AT

  6. Set off of brought forward business loss of earlier years - We also see no conflict in an income being taxable under the head profits and gains from business or...

  7. Disallowance of business loss of discontinued business: Deduction for expenditure incurred towards professional charges, consultancy charges, ESI arrears, and bank...

  8. The assessee, a foreign company, earned network transportation fees from its Indian associated enterprise (AE), Damco India Private Limited (DIPL). The Assessing Officer...

  9. Income deemed to accrue or arise in India - offshore supply of design and engineering inextricably linked with manufacturing and supply of equipment, not taxable as Fees...

  10. Levy of VAT (tax) - Turnover of old machinery and equipment after the closure of business - The central contention is the interpretation of the amended definition of...

  11. Disallowance of payment of professional fee to the directors - allegation of paying excessive remuneration to the directors - services provided by the directors towards...

  12. The Income Tax Appellate Tribunal held that the guarantee fees received by the assessee, a foreign company incorporated in Korea and a non-resident without a permanent...

  13. Income surrendered in survey action - undisclosed professional income - In fact, no such income has been found during the survey action. However, the assessee to keep...

  14. In the present case, the Income Tax Appellate Tribunal (ITAT) held that when the sale of software (prime) license fees is not taxable, the fees for provisions for other...

  15. The High Court held that by virtue of the non-obstante clause in the Kerala General Sales Tax Act, 1963 (KGST Act), it creates a first charge on the property of the...

 

Quick Updates:Latest Updates