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: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: VAT Audit :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: cpt :: VAT RATES
 
 
« General »
  Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956 -reg.
 SH. VISHWA NATH GUPTA Vs. PRINCIPAL COMMISSIONER OF INCOME TAX CENTRAL, KANPUR AND ANR.
 No tax scrutiny of big transaction if it matches income
 Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956 -reg.
  Home loan tax reliefs often missed by taxpayers
 Income tax department launches online facility for linking Aadhaar and PAN
 Home loan tax reliefs often missed by taxpayers
 Tax headache in India is a bonanza for global accounting firms
 Activities To Be Treated As Supply Even If Made Without Consideration Under CGST ACT
  Haryana Goods and Services Tax Bill passed
 Maharashtra to focus on rise in non-tax income

Income tax slaps notice on Cadbury, Kraft; seeks takeover details
February, 01st 2011

The income-tax department has served a notice on Cadbury India and its overseas parent, Kraft Foods Inc , seeking details of its $19-billion global takeover of Cadbury last year. The notice follows a directive from the finance ministry after a public interest petition was filed in the Delhi High Court in 2010 claiming that Kraft had completely and illegally avoided tax liabilities related to the sale of shares and capital assets in India.

The move is the latest in a series of efforts by the Indian revenue department to tax overseas deals, the most famous being the Vodafone deal.

I-T officials confirmed the development. An enquiry is on and we are in the process of collecting the details of the transaction, a senior official said.

A Kraft Foods spokesperson sought to play down the significance of the notice.

The court has not granted any relief to the petitioner and has instead suggested to the petitioner to file a representation with the government and the Indian tax authorities to take appropriate steps to respond to the queries raised.

Kraft Foods is fully committed to complying with the Indian law and is responding to queries raised by the Indian tax authorities. Senior officials close to the development said the India business is a very small part of the overall global acquisition of Cadbury Plc UK shares by Kraft Foods.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Outsourcing Test Solutions Software Testing Software Bug Testing Software Issues Tracking Software Issue Fix Software Code Optimization Database Design Optimization

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