Liability to TCS arises even in the absence of written contract

Transfer of PANs Of Non-Resident Assessees Posted: 19 Sep 2012 09:25 PM PDT Jurisdiction over non-resident assessee lies with the AOs under administrative control of DGIT (Intl. Tax). It has been observed by DGIT (Intl. Tax.) that PAN of many non-resident assessees are lying with the AOs who do not have jurisdiction over them. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Reopening of assessment u/s 147 on the basis of 'mesne profits' which is likely to accrue in the future is valid? Posted: 19 Sep 2012 09:16 PM PDT In view of judgment in R​.J Wood. The Court held that receipts towards mesne profits should be taxed in the year of their receipt. The revenue had not however, re-opened the assessment in respect of the year of receipt of the amounts, in this case. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Liability to TCS arises even in the absence of written contract Posted: 19 Sep 2012 08:48 PM PDT Assessee, submitted that though auction was held of parking lots, but no contract was executed in terms of auction and the contractors did not sign any contract and continued to charge parking charges. Therefore, the provisions of section 206C(1C) would not apply to the case and further for... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] No disallowance of expenditure u/s. 14A in the absence of links with exempt Income Posted: 19 Sep 2012 08:36 PM PDT From the facts of the present case, it is clear that there is no link with expenditure for earning of dividend income incurred by the assessee and once the facts are clear, no disallowance can be made by invoking rule 8D of the Rules. Neither the AO nor CIT(A) has recorded any finding that having... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Section 32A – Mining, cutting & polishing of granite is manufacture -SC Posted: 19 Sep 2012 08:30 PM PDT Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in law in holding that the assessee is entitled to investment allowance on the activities of the assessee, viz., mining granite from quarries and exporting them after cutting, polishing, etc.... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] CIT (A) can accept fresh claim raised by the Assessee – ITAT Posted: 19 Sep 2012 08:28 PM PDT Ld.Counsel for the assessee Mr.Sandeep Sadra on the other hand pointed out that the assessee has made a fresh claim before the Commissioner of Income Tax (Appeals) and as all the facts are on record and as the Assessing Officer has himself recorded that the claim is correct, the Commissioner of... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Registration U/s. 12A can not be cancelled Merely because some amount has been spent by assessee-society which is not in accordance with its aims & objects Posted: 19 Sep 2012 07:52 PM PDT Considering the above facts, the condition precedent to cancellation of registration under section 12AA(3) are not satisfied because once registration is granted, the Commissioner can cancel registration only if he satisfies that the activities of such trust or institution are not genuine or are... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]