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Director of Income Tax vs. Sahara India Financial Corporation Ltd. [2010:DHC:1012-DB] – Whether Title Sponsorship Payment for Sahara Cup Constitutes Royalty under Article 13(3)(c) of the India-Canada DTAA
Facts of the Case
The
case related to Assessment Year 1998-99.
Sahara
India Financial Corporation Ltd. entered into an agreement dated
10.07.1996 with IMG Canada.
Under
the agreement, Sahara...
Director of Income Tax vs. Sahara India Financial Corporation Ltd. [2010:DHC:1012-DB] – Whether Title Sponsorship Payment for Sahara Cup Constitutes Royalty under Article 13(3)(c) of the India-Canada DTAA
Facts of the Case
The
case related to Assessment Year 1998-99.
Sahara
India Financial Corporation Ltd. entered into an agreement dated
10.07.1996 with IMG Canada.
Under
the agreement, Sahara...
Commissioner of Income Tax vs. Anil Kumar Sharma [2010:DHC:1138-DB] – Scope of Revision under Section 263 | Difference Between Lack of Inquiry and Inadequate Inquiry
Facts of the Case
The
assessee, Mr. Anil Kumar Sharma, filed his return of income for Assessment
Year 2003-04 on 25 November 2003 declaring total income of Rs.
1,64,06,770/-.
The
Assessing Off...
National Financial Reporting Authority v. Udayan Sen — Order under Section 132(4) of the Companies Act, 2013
Facts of the Case
SCN Issued: A Show Cause Notice (SCN)
was issued on 17 January 2020 to CA Udayan Sen under NFRA’s powers
under Section 132(4) of the Companies Act, 2013, asking him to show cause
w...
Commissioner of Income Tax vs. Forech India Ltd. [2010:DHC:1139-DB] – Deletion of Addition on Alleged Undisclosed Stock Found During Survey | Scope of Interference with Concurrent Findings of Fact under Section 260A
Facts of the Case
The
case related to Assessment Year 2000-01.
During
a survey conducted at the assessee's premises, the Revenue authorities
noticed a discrepancy between the physical stock availabl...
National Financial Reporting Authority vs. CA Rukshad Daruvala (Membership No. 111188) Order under Section 132(4) of the Companies Act, 2013
Facts of the
Case
NFRA issued a Show Cause Notice (SCN) on 28.01.2020 to CA
Rukshad Daruvala, Engagement Quality Control Reviewer (EQCR) in the
statutory audit of ILFS Financial Services Ltd (IFIN) for FY
...
CA Shrenik Baid vs. National Financial Reporting Authority — Order under Section 132(4), Companies Act, 2013
Facts of the
Case
SCN & procedure: NFRA
issued an SCN (24 Jan 2020); CA filed writ proceedings in Delhi HC and
submitted interim/pro tem replies; NFRA proceeded after giving
opportunities to rep...
Van Oord ACZ India (P) Ltd. vs. Commissioner of Income Tax [2010:DHC:1511-DB] – Scope of Tax Deduction at Source under Section 195 and Disallowance under Section 40(a)(i) on Reimbursement to Non-Resident
Facts of the Case
The
assessee, Van Oord ACZ India (P) Ltd., was an Indian company and a wholly
owned subsidiary of Van Oord ACZ Marine Contractors BV, Netherlands
(VOAMC).
The
assessee was en...
National Financial Reporting Authority vs. CA Gulshan Jagdish Jham (ICAI Membership No. 408315) Order under Section 132(4) of the Companies Act, 2013
Facts of the
Case
A Show Cause Notice was issued to CA Gulshan Jagdish Jham
for his audit of Prabhu Steel Industries Limited (PSIL) for FY
2019–20.
PSIL, listed on BSE, failed to comply with Ind AS and...
Commissioner of Income Tax-III vs. Sutlej Industries Ltd. [2010:DHC:1500-DB] – Interest on Refund of Self-Assessment Tax under Section 244A(1)(b) of the Income Tax Act, 1961
Facts of the Case
The
assessee, Sutlej Industries Ltd., for Assessment Year 1998-99, had paid:
Tax
Deducted at Source (TDS),
Advance
Tax, and
Self-Assessment
Tax under Section 140...