Home Highlights October 2018 Year 2018 This

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1. Clubbing of income of Non-resident and Permanent Establishment (PE) - Levy of surcharge at 5% as against assessee’s claim of 2% - The royalty and Fee for Technical...

2. Accrual of interest income - Commercial decision was taken by the appellant-assessee not to charge interest from these two borrowers as the assessee wanted to ensure...

3. 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...

4. Addition made on account of non realization of ‘Provision for surcharge’- such amount of surcharge cannot be held to be taxable as it is not the real income of the...

5. Penalty u/s 271(1)(c) - accrual of income for assessee society - In assessee`s appeal assessing officer treated contribution towards welfare Fund and Hospital Fund as...

6. Accrual of income in current AY - duty drawback and service tax refund - the income would be receivable only when the income accrues to the assessee and income would...

7. Accrual of Interest on loans - Real income or not - Accrual of income u/s 5 - there was no choice for the assessing authority but to add back this amount as part of the...

8. Income from the nature of interest received by the assessee in DRDO/ISRO accounts (for short ‘FD A/cs’) - the assessee, DRDO/ISRO are either Government Departments or...

9. Accrual of income - Cancellation of recovery of the interest - Where the income can be said not to have resulted at all, there is obviously neither accrual nor receipt...

10. Accrual of income - it cannot be said that income has actually accrued to the assessee in one year even though it might have received it in one year. Mere receipt does...

11. Liability to pay tax on surcharge levied for delayed payment -where the income can be said not to have resulted at all, there is obviously neither accrual nor receipt of...

12. Accrual of income - with the Assessee not having claimed the benefit of Section 32AB of the Act, the question of treating lease rental as income on accrual basis did...

13. TPA - Adjustment of interest for delayed realization of sale from AE - when the assessee is not charging any interest from non AE then there is no case made out by the...

14. Addition on account of cash deposit to the bank account of the assessee - assessee is consistently submitting that the assessee has two bank accounts in her name and the...

15. Income accrued in India - Status of Non Resident - Determinative test for the status of Non Resident being number of days of stay in India and in assessee's case in...