Home Highlights September 2011 Year 2011 This

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1. Disallowance of education cess on income tax and dividend distribution tax u/s 40(a)(ii) - Assessee has fairly conceded that as per amendment vide Finance Act, 2022...

2. Disallowance of interest paid to Head Office - Non deduction of TDS - assessee submitted that Assessing Officer held that interest income is taxable under DTAA at 10% in...

3. Disallowance of deduction u/s 35AD - leasing out of Godown for non agriculture purpose - skimmed milk does not constitute “agricultural produce” - the whole deduction...

4. Disallowance of deduction u/s 80P - Addition in respect of rental income earned and Income from sale of crackers - The Tribunal held that the deduction u/s 80P is...

5. Non deduction of TDS on payment to non-resident - disallowance u/s 40(a)(i) - a similar payment to a resident does not result in disallowance in the event of non...

6. Taxable income to tax u/s 44BB v/s Section 44DA read with section 9(l)(vii) - The profit from this income was estimated at 25% and offered to tax at 40% plus applicable...

7. Disallowance u/s 14A - Exempted income - proportionate disallowance of interest paid by the banks for investments made in tax free bonds/ securities which yield tax free...

8. Disallowance of expenses on non-deduction of tax - Without going into the merit of the addition, we find the alternate argument of the ld. Counsel for the assessee...

9. Grant received from holding company as capital receipt - AO has not specifically invoked section 56(2). The dubious method adopted by the assessee of claiming the...

10. Income accrues or arises or deemed to accrue or arise in India - Unexplained foreign income - residential status of the assessee - The Tribunal upheld the CIT(A)'s...

11. TDS u/s 195 - payment received for interconnect usage charges - transaction with non-treaty country - The assessee contested the taxability of these payments as...

12. Deduction on municipal taxes – Income declared as income from other sources – claim of expenditure/deduction of actual payment made by the assessee in respect of the...

13. Disallowance of Professional fees paid to non-residents - Non deduction of TDS u/s 195 - the assessee cannot be expected to deduct TDS on payment made to non-residents...

14. Rate of TDS - Non-availability of PAN - Benefit of treaty - in case of payments made to non-residents, the assessee was entitled to deduct taxes at source at the rates...

15. Return of TDS amount deducted u/s 194A on award passed under motor insurance act - This application is allowed and the Registry is directed to release the amount...