SC

SC: Commitment charges and finance charges, similar to payment of commission and interest respectively, allowable as deduction u/s 37

Commitment charges and finance charges, similar to payment of commission and interest respectively, allowable as deduction u/s 37: Supreme Court

Oct 07,2011

SC: AO not to adjust book profits u/s.115J beyond what is authorized, if accounts are prepared and certified in accordance with Companies Act

AO not to adjust book profits u/s.115J beyond what is authorized, if accounts are prepared and certified in accordance with Parts II and III of Schedule VI to the Companies

Sep 26,2011

SC: No absolute ' Secrecy ' under DTAA

No absolute bar of ' Secrecy' under Article 26 of India-Germany DTAA; Vienna Convention relevant in treaty interpretation under Indian context: SC

Jul 05,2011

SC: Non-Compete fees received pre 2002 not chargeable to tax

Non-Compete fees received prior to FY 2002- 03 a capital receipt, not chargeable to tax: SC

Mar 16,2011

SC: SC - Parliament can legislate laws that have extra-territorial application subject to conditions

The Supreme Court held that "Parliament may exercise its legislative powers with respect to extra-territorial aspects or causes only when such extra-territorial aspects or causes have, or are expected to

Mar 02,2011

SC: Interest payable on non payment of advance tax under MAT

Interest under Sections 234B and 234C shall be payable on failure to pay advance tax in respect of tax payable under MAT provisions

Jan 14,2011

SC: Allowability of deduction u/s 80HHC from Book Profit under MAT

The Honourable Supreme Court in the case Ajanta Pharma Ltd held that 100% of the eligible export profits earned by the assessee were eligible for reduction under clause (iv) of Explanation to

Jan 13,2011

SC: "Revaluation Reserve" under MAT provisions.

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

Jan 12,2011

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