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 November 2016 Year 2016 This

Diversion of Revenue at Source - Reducing the business income ...

Income Tax

November 26, 2016

Diversion of Revenue at Source - Reducing the business income being the share of profit of one of the members of AOP of the assessee - the computation of profit and determination of taxable income is one aspect which is different from apportionment of profit / income between the AOP members - AT

View Source

 


 

You may also like:

  1. Taxation of Association of person (AOP) u/s 167B - one of the member of AOP is an Non Resident i.e. HPI, a company registered in Canada and the income of this member is...

  2. Assessee is member of AOP and received interest as member of the AOP, hence as per section 67A, the income has to be computed in the hands of AOP and the share income...

  3. Capital gain - real owner of property - Addition in the hands of AOP or members of AOP - once the share of the respective member is allotted by the AOP then the AOP...

  4. Loan taken at higher interest rate than bank rate - The payment of interest to the family members and sister concern at 24% was diversion of profits - HC

  5. Profit sharing agreement - Diversion of income by overriding title or mere application of income - the assessee has been obligated by virtue of the agreement to divert...

  6. Reverse Charge Mechanism - Business Auxiliary Services - Share of profit in the joint ownership of business - revenue failed to prove that assessee was engaged in providing BAS.

  7. MAT computation - addition of share income of AOP in the book profit - The mischief which has been sought to be remedied is that the share income of the member of the...

  8. Nature of franchise expenses – it was not an expenditure incurred for acquisition of source of profit, but enabled the assessee to run the business profitably - held as...

  9. Claim of exempt profit from SNA RCC (JV) - The assessee’s name does not figure as a member of the AOP in the Audit Report. The action of the authorities below in...

  10. Assessment of Firm as AOP - in terms of section 167 the share of the members of AOP are indeterminate - In such case the whole of the income of such an AOP is to be...

 

Quick Updates:Latest Updates