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 September 2016 Year 2016 This

Major port trusts in India had given confirmation to the ...

Income Tax

September 12, 2016

Major port trusts in India had given confirmation to the assessee port trust that they are being assessed only as a ‘local authority’ and not in the status of a ‘company’ under the Income Tax Act - reassessment proceedings quashed - AT

View Source

 


 

You may also like:

  1. Income from House Property - Payment made to Mumbai Port Trust claimed by assessee u/s 23 - the term local authority cannot be rigidly interpreted to mean only a local...

  2. Status of assessee trust - whether society registered under a statute is to be assessed as an Artificial Juridical Person (AJP)? - Held Yes - AT

  3. Status of a trust/AOP - Valid status - assessee trust is a revocable trust - provisions of Sec. 61 to 63 of the Act would be applicable to it - there would be no legal...

  4. Demurrage charges - once consignment is handed over to the Port Trust by the steamer agents, duly endorsing the bill of lading or issuing the delivery order but the...

  5. The assessee-Port Trust would fall within the meaning of "dealer" under Section 2(viii) of the Act and is consequently assessable to tax under the Act - HC

  6. Stay of rececovery of demand - Capacity/status of a Assessee as Trust OR status of a Firm - the deposit would itself occasion undue hardship to the petitioner who are...

  7. The trust is discretionary trust. Hence, it is liable to be assessed as per the provisions of Sec.164(1) at maximum marginal rate.

  8. Deduction u/s 80IA - Inland storage facility operation at various ports – there is an agreement between the assessee and the Visakhapatnam Port Trust Authorities that...

  9. Tax liability of trust - the purpose of tax under the Act, the Assessing Officer may be in a position to find out the status of the beneficiaries of the First Level...

  10. Recognition of TRUST - As can be seen from the definitions, the Trust created in terms of the deed of settlement is consistent with the requirements of both, the Indian...

 

Quick Updates:Latest Updates