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Rulings

Jan 12,2011

Expenditure incurred on outsourcing of the clinical trials by "an approved R&D facility" is not eligible for the weighted deduction for R&D under section 35(2AB) of the Income-tax Act

Jan 13,2011

Payment to an Italian company for "reassembling and commissioning" of the machines in India is not taxable in India

Jan 12,2011

Tax holiday is not available to foreign branch carrying on-site software development and full-fledged marketing operations.

Jan 12,2011

When the assets form part of 'block of asset', they cannot be segregated for the purpose of calculating tax depreciation, even when there is no 'actual user' of asset during

Jan 12,2011

Interest earned on short term deposits made out of foreign exchange advance received from foreign tourists is not eligible for deduction under section 80HHD -Delhi High Court

Jan 12,2011

Offshore supply of equipments as a part of EPC contract is not taxable in India

Jan 12,2011

Credit to the P&L account for withdrawal from "Revaluation reserve" cannot be reduced in computing "book profit" for MAT: SC

Jan 14,2011

Credit for TDS cannot be denied upon subsequent refund of TDS to deductor

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