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

Retrenchment compensation paid by subsidiary to the workers of ...

Income Tax

September 13, 2016

Retrenchment compensation paid by subsidiary to the workers of the two units which belonged to the assessee and which were transferred to the subsidiary and which amount was reimbursed by the assessee under a contractual agreement - allowable as an admissible deduction - HC

View Source

 


 

You may also like:

  1. Deduction u/s 35DDA - Retrenchment compensation paid on the closure of the assessee's manufacturing unit in Kalamassery - one unit out of three closed down - claim of...

  2. CENVAT Credit - since admittedly, in the case on hand, the Principal manufacturer, i.e. the Daman unit, paid duty on finished goods, evenif it is produced at job...

  3. Restriction on number of layers for certain classes of holding companies - More than two layers of subsidiaries not allowed subject to certain exceptions.

  4. CENVAT credit - inputs were being sent to job worker - job worker was paying duty on the final product - cenvat credit availed by the assessee cannot be denied - AT

  5. Waiver of pre-deposit amount of duty - Clearance of E.T. sludge - “Sludge” obtained in effluent treatment plant belonging to an industrial unit is exempt - AT

  6. Deduction u/s 54 - LTCG invested in buying two residential units - the assessee would only entitle to the benefit of section 54, 1) if the assessee invested the LTCG...

  7. CENVAT Credit - Input service distribution (ISD) - Distribution of credit by the M/s. Parle Biscuit Private Ltd. i.e. ISD to the appellant, a contractual...

  8. SSI exemption - clubbing of clearances - Merely because the partner of two units happen to be the same, by itself, is not sufficient to establish that one unit is dummy...

  9. Inter unit transfer of cotton and cotton yarn - two units of the same company having separate registration - cannot be treated as sale transaction - no tax liability - HC

  10. SSI exemption - Clubbing of turnover - assessee having two units - issuance to SCN to both the units does not amount to double jeopardy - AT

 

Quick Updates:Latest Updates