Provisions of AS-7 cannot override the provisions of section 145 ...

Case Laws Income Tax

April 12, 2013

Provisions of AS-7 cannot override the provisions of section 145 in so far as the computation of business income under the Income Tax Act for the purpose of determining income is concerned. - AT

View Source

← Previous Next →

Provisions of AS-7 cannot override the provisions of section 145 ...

Case Laws Income Tax

April 12, 2013

You may also like:

Deduction u/s 10AA - Income from gold dust - the AO himself has not denied the fact that the income from sale of gold dust is part of the business income of the assessee....

Taxability of income - Characterization of receipts - software sub-licence fee - the income in dispute, since can be classified under other Articles of the tax treaty,...

Offshore Supply Contracts were executed and concluded outside India, hence no income deemed to accrue or arise in India as per Section 9(1) and DTAA provisions. Receipts...

Set off of brought forward business loss against income from other sources - As provision of section 72 are very clear that brought forward business loss can only be set...

The petitioner incurred expenditure towards application of income as required u/s 11(1)(d) for the year under consideration, which was evident from the computation of...

Constitutional Validity of Section 327(7) of the Companies Act, 2013 - statutory claims of the “workmen’s dues” - Overriding effect of the provisions of IBC - As...

Applicability of Article 7 of the Double Taxation Avoidance Agreement (DTAA) between India and the United Arab Emirates regarding the taxation of profits attributed to a...

Additional income offered on account of excess stock during the course of survey - business income of the assessee OR income from other sources liable to be taxed at a...

Characterization of receipts - Treatment of interest income from staff loans and advances, interest income from other loans and advances and miscellaneous income -...

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

TDS u/s 195 - on payment made to two non-residents regarding order procurement services - DTAA between India and USA/Belgium - Both the non-resident derived their income...

Nature of unaccounted surrendered income emanating from the seized document - business income OR deemed income u/s 69 - The income is business income relatable to...

Withholding of tax at higher of the rates prescribed u/s 206AA - non-resident not having PAN - provision of section 206AA will not have an overriding effect over the...

Business of plying of trucks - computation u/s 44AE - Assessee has sold 7 and acquired 4 - allegation of benami ownership of trucks - no incriminating evidence were...

Applicability of provisions of 10A(7) - without establishing through positive evidence that assessee and its related party have arranged their business transaction in a...

Quick Updates: