Income Tax

Articles Income Tax

Additions under Section 68 cannot be deleted merely relying on Assessee’s evidence – SC

Facts of the case: Assessee had filed the original Return of Income for the AY 2009-10 reporting Rs. 17.6 crores as share application money having premium of Rs. 180 per share from several companies situated a...

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Articles Income Tax

Royalty payment to Italian Co. pursuant to agreement effective from 01-04-2008 would be taxable at 10%

Facts of the case: The Assessee being a company located in Italy and having several other group concerns around the globe had received royalty & technical fees for services of SAP implementation and fees f...