Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: Central Excise rule to resale the machines to a new company :: VAT Audit :: empanelment :: articles on VAT and GST in India :: form 3cd :: VAT RATES :: TDS :: due date for vat payment :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS
 
 
From the Courts »
  Micro Spacematrix Solution P Ltd vs. ITO (ITAT Delhi)
 Micro Spacematrix Solution P Ltd vs. ITO (ITAT Delhi)
 CIT vs. Greenfield Hotels & Estates Pvt. Ltd (Bombay High Court)
 IndiaBulls Financial Services Ltd vs. DCIT (Delhi High Court)
 Maharao Bhim Singh of Kota vs. CIT (Supreme Court)
 Ravneet Takhar Vs. Commissioner Of Income Tax Ix And Ors.
 Jaiprakash Associates Ltd. Vs. Commissioner Of Income Tax
 Formula One World Championship Limited Vs. Commissioner Of Income Tax, International Taxation-3 And Anr.
 Commissioner Of Income Tax International Taxation-3 Delhi Vs. Formula One World Championship Ltd. And Anr.
 Reliance Communications Ltd vs. DDIT (ITAT Mumbai)
  Sushila Devi vs. CIT (Delhi High Court)

Govt challenges ITAT order
February, 25th 2010

The government on Wednesday approached the Delhi high court challenging an order of the Income Tax Appellate Tribunal (ITAT) that gave relief to mobile phone maker giant Nokia in a case of alleged tax evasion.

A division bench comprising justice BD Ahmed and justice Siddharth Mridul admitted the petition filed by the income tax department and posted the matter to 12 April for next hearing.

In its petition, the IT department said the ITAT has wrongly deleted the penalty imposed by it on Nokia India for allegedly wrongly declaring its income.

It further said assessee (Nokia) knowingly furnished inaccurate particulars of its income and has concealed the facts relating to computation of its correct income for the year under consideration.

The IT department had imposed a penalty of Rs1.14 crore on Nokia on 27 March 2006, for allegedly furnishing wrong returns for the financial year 2001-02.

According to IT department, Nokia had claimed nil tax on some aspects such as allowances on foreign travel, account provision of warranty, marketing expenses etc.

Later, in March 2004, the department picked up Nokias income tax return for scrutiny and sent a notice after finding alleged irregularities.

After scrutiny, IT department assessed Nokias income at Rs12 crore and imposed a fine of Rs1.4 crore and equal amount of tax for alleged evasion of tax by the firm.

This was challenged by Nokia before the Income Tax Appellate Tribunal, which deleted the penalty provision.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Customer relationship management software CRM software Operational CRM Collaborative CRM

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions