Home Highlights February 2014 Year 2014 This

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1. Proof of smuggling of goods - DW.1 (revenue officer) stated in evidence that it was suspected that articles were smuggled and that it was believed that the articles were...

2. Disallowance u/s 36(1)(iii) - claim of interest expenditure - The companies GIL and CNIL are subsidiary companies, which clearly indicates that the investment made by...

3. Assessment u/s 153A - Addition u/s 68 - Unsecured cash credits - documentary evidences on record have not been rebutted by the A.O. through any evidence or material on...

4. Disallowance u/s. 2(22)(e) - assessee has received unsecured loan and assessee company from whom it has obtained unsecured loan there were two common directors - Since...

5. TP adjsutment - “AE” investment banking activities - comparable selection - The persistence loss- making company are normally excluded as comparable. As per the...

6. TDS u/s 194A - TDS on deemed dividend - loan advanced by the assessee company to the other group companies - Even if, the appellant company hold 100% shares in these...

7. Transfer pricing adjustment made to alleged international transaction of AMP expenditure incurred by assessee disallowed due to lack of evidence that assessee agreed to...

8. The notification amends the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 by inserting a new sub-rule (5) in rule 25A. It provides for the...

9. Addition made u/s 69C of the Income Tax Act for alleged cash payments based on a WhatsApp message and statement of a third party. The key points are: The WhatsApp...

10. The assessee company was denied exemption under Article 13(3B) and 13(4) of the India-Mauritius Treaty, and its capital gains from sale of shares, futures, and options...

11. Bogus share transactions involving abnormal price rise in penny stock shares - Assessee produced evidence of share purchase, existence in demat account - AO failed to...

12. Evidentiary value of a statement made on oath by the assessee for making additions - The assessee can explain or withdraw the admission, if any, made by him in such...

13. New Rules - Companies (Significant Beneficial Owners) Rules, 2018 came into force w.e.f. 13.6.2018

14. Claim of depreciation beyond six years for the first time - There is no provision under law to make assessment of an assessee beyond six years. Therefore, claim made by...

15. Dishonor of Cheque - legally enforceable debt or not - Since the accused rebutted the presumption whatever arisen by adducing oral and documentary evidence, the onus...