Monday, June 20, 2011

Recent Case law

[2011] 11 taxmann.com 333 (MUM. - ITAT)
IT : If appeal filed by assessee is only defective, it assumes validity on removal of such defect or irregularity; whereas payment of such tax is mandatory but requirement of paying such tax before filing appeal is only directory
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[2011] 11 taxmann.com 332 (MUM. - ITAT)
IT : Where assessee, owner of a trademark, entered into licence agreements with various Indian hotels in terms of which said hotels became licensees of assessee's trademark and, assessee, besides receiving licence fee, received marketing and reservation contribution from Indian hotels, in view of fact that said amount was received with a corresponding obligation to use it for agreed purposes, it could not be regarded as assessee's income and, moreover, since assessee did not have a PE in India, amount in question could also not be treated as business profits in terms of article 7 of Indo-US DTAA
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[2011] 11 taxmann.com 331 (MUM. - ITAT)
IT : In view of Explanation 1 inserted to section 90 by the Finance Act, 2001 with retrospective effect from 1-4-1962, tax rates prescribed in Finance Act are to be applied even if an assessee-company is covered by provisions of DTAA
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[2011] 11 taxmann.com 330 (MUM. - ITAT)
IT : Transfer pricing : Where assessee sought stay of demand of tax without showing any financial hardship, same could not be accepted
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Dear Friends : The emails are schedule to be posted in the blog and will sent to the group on carious dates and time fixed. Instead of sending it on one day it is spread on various dates. regards. R R Makwana
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