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Income Tax - Highlights / Catch Notes

Home Highlights February 2017 Year 2017 This

When there is no misunderstanding between the parties on the ...

Income Tax

February 19, 2017

When there is no misunderstanding between the parties on the terms and conditions of the agreement, in our view, the tax authorities may not be justified in interpreting the agreement in a different manner - AT

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  3. Revision u/s 263 by CIT - Claim made by the assessee u/s. 32AC in respect of investment made in the new plant & machinery - In assessee’s case while interpreting the...

  4. Non-reimbursement of differential tax amount - Scope the mutual agreement between the parties - situation post change in tax regime from Value Added Tax (VAT) to Goods...

  5. Deduction of service tax from the amount payment (consideration) as per the contract terms - scope of the terms of agreement - the parties did not envisage deduction in...

  6. Extended period of limitation - Business Auxiliary service - merely because the authorities subsequently change their view that does not justify invoking the larger...

  7. Scope of the term "May" - Use of the word ‘may’ over the years is normally construed as permissive and not imperative. The words ‘may’ or ‘shall’ by their very...

  8. Information denied under RTI Act - Mere apprehension that a third party has declared income, which is lower than the true income, cannot justify disclosure of Income Tax...

  9. Service Tax on Profit sharing agreement - facie there is no service given by one party to another. - AT

  10. Once under law the tax is not recoverable, it cannot be justified merely because the party has paid some amount to avoid penal action - HC

 

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