Home Highlights April 2014 Year 2014 This

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1. Disallowance of claims of superannuation fund u/s. 40A(9) and gratuity fund u/s. 40A(7) - the company had applied for the approval of Superannuation Fund as well as...

2. Income accrued in India - nature of fees for technical services - the provisions of Section 9(1)(i) are not attracted in this case as no income has accrued or arised...

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. Penalty u/s 271F - failure to furnish return of income (ITR) - the assessee’s total income without giving effect to the provision of section 54 come to ₹...

5. Accrual of income - non realization of ‘Provision for surcharge’ - even though the assessee has been following mercantile system of accounting, since it is not real...

6. Income deemed to accrue or arise in India - interest income - In these years, the interest income has accrued on the deposits kept by the assessees in HSBC bank, Geneva...

7. Income recognition - income accrued - assessee received consultancy fees from UG Hospitals Pvt. Ltd.for the term of five years - assessee’s reliance of AS-9 issued by...

8. Power of Court to entertain an application u/s 9(1) of the Arbitration and Conciliation Act, 1996 - On a combined reading of Section 9 with Section 17 of the Arbitration...

9. Disallowance payment made to gratuity fund u/s.36(1)(v) - gratuity fund was unapproved by the Learned Pr. CIT after 9 years - by any stretch of reasoning, the time taken...

10. Valuation - related party - Rule 9 of valuation rules clearly stipulates that if the goods are cleared to a person who is consuming the same, then the provisions of Rule...

11. Income deemed to accrue or arise in India - revenue earned by the assessee from the provisions of transmission services of voice, data and programmes of space segment...

12. Accrual of income - Revenue recognition - real or hypothetical income - The assessee did not raise any demand on account of wheeling charges and since, there was...

13. Deduction u/s 54F - LTCG - Out of these 24 flats, 15 flats are already sold in the present year and remaining 9 flats are likely to be sold within the period of three...

14. Income accrued In India - 'Royalty' or 'Fees for Technical Services' under Section 9(l)(vi) and 9(l)(vii) - the payment made by SCB to assessee- company does not fall...

15. 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...