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Rulings

Sep 09,2011

Rolls Royce PLC UK taxable on account of India PE

Sep 08,2011

‘Book Profits’ under MAT cannot be reduced by depreciation & loss of earlier year fully adjusted against revenue reserves: Madras HC  

Sep 06,2011

A CA certificate for TDS on payment to non residents not conclusive to determine taxability

Sep 05,2011

Payment for license to use ‘shrink wrap computer software’ constitutes 'royalty'

Sep 02,2011

Sec 51 providing for reduction of ‘advance/earnest money’ from 'cost of capital asset’, applicable only in case of forfeited advance for ‘aborted transactions’

Aug 31,2011

Debit balance of P&L adjusted against share premium & revaluation reserve as per High Court restructuring scheme, can be reduced for MAT purposes as brought forward book loss; AO to

Aug 31,2011

Contributions to staff welfare trust created under State Govt. directives covered under exceptions to Sec 40A(9); Claim for deduction during assessment allowed & SC decision in Goetz distinguished

Aug 31,2011

‘Project office’ involved in co-ordination and execution of turnkey project constituted a fixed place PE in India; Revenue for offshore activities attributable to PE taxable in India

Aug 29,2011

Anticipated loss on unsettled interest rate swap contracts deductible; Accounting principle of 'prudence' binding as per Sec 145(2)

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