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 July 2019 Year 2019 This

Assessment of income of shipping company - though the ...


Shipping Company Income Under Scrutiny; Return Filed u/s 172(3) Lacks Evidence of Taxation in Singapore or India.

July 24, 2019

Case Laws     Income Tax     AT

Assessment of income of shipping company - though the representative assessee has filed the return of income u/s 172(3), he has not furnished any evidence to show that the assessee’s income was taxed on accrual basis in Singapore or filed the evidence including the income relating to voyage undertaken in India - matter remanded

View Source

 


 

You may also like:

  1. Revised return - original return of income was filed within time - Revised return is a loss return which should have been filed within the time specified u/s 139(3) of...

  2. Statutory provisions regarding restoration of a company's name on the Register of Companies maintained by the Registrar of Companies (ROC) u/s 252(1) and 252(3) of the...

  3. The assessee was entitled to set off brought forward losses from assessment years 2021-22 and 2022-23 against income in assessment year 2023-24, even if the return for...

  4. Penalty u/s.271AAB - Belated filing of regular return after search - Penalty cannot be levied u/s.271AAB of the Act, in respect of income disclosed in regular return of...

  5. The Assam State GST Circular No. 3/2023, addresses the structured approach and guidelines for the scrutiny of returns under the GST framework. This directive builds on...

  6. A presumptive taxation regime is being introduced for non-resident cruise ship operators, deeming 20% of aggregate receipts as profits and gains from this business....

  7. Restoration of name of Company - Aggrieved person is Income Tax Department - The instant application would not lie under section 252(3) of the Companies Act, 2013;...

  8. Penalty u/s 221 r.w.s. 140A - default of non-payment of taxes on due date - Provisions of Section 140A (3) can apply only when there is a self-assessment tax payable...

  9. Levy of penalty u/s 271(1)(c) - Capital gain on sale of property - Allegation of the AO that, return of income has not been filed voluntarily - There was a reasonable...

  10. The company failed to file financial statements and annual returns for five financial years from 2014 to 2018. Despite having assets worth Rs. 3 crores as of 2008, the...

  11. Deduction u/s. 80IB(10) - non filling of return on time - the ITAT held that the return filed beyond the due date cannot claim deduction under section 80IB(10) as per...

  12. Benefit of accumulation of income u/s.11(2) - denial of claim on non-submission of Form No.10 along with return of income - In this case, the assessee claims that...

  13. Non-filing of ST-3 returns - Bonafide belief - business of maintenance/house keeping of NTPC guest house - the appellant assesse should have intimated the Department by...

  14. Proceedings initiated u/s.201(1) & 201(1A) - Period of limitation - retrospective effect of amendments - period extended from 2 years to 6 years - The provisions of...

  15. Carry forward of business loss - original return was filed u/s 139(1) within time declaring positive income - later revised return u/s 139(5) filing declaring loss - On...

 

Quick Updates:Latest Updates