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: Central Excise rule to resale the machines to a new company :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: VAT RATES :: list of goods taxed at 4% :: articles on VAT and GST in India :: cpt :: ACCOUNTING STANDARD :: form 3cd :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
News Headlines »
 How to calculate capital gains tax on property sold at less than stamp value?
 Return Filing - Under GST, this is how you will file tax returns from July 1
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017
 Govt extends VAT deadline, relief for developers
 Income Tax Appellate Tribunal Rules, 2017
 Got your Form 16? You should file income tax returns early to enjoy benefits
 Want to save tax? Here are 6 best investment options for you

I-T dept refuses Star TV's settlement of claims
April, 27th 2007

Star TV wants to settle it's tax claim, but the tax department has refused, reports CNBC-TV18. According to sources, Star TV has approached the Settlement Commission over a Rs 450-500 crore claim made by the I-T department.

But the department does not want to settle as it's confident of winning the case. After all, it had won the previous claim against Star. In 2006, the Income Tax Appellate Tribunal ruled in favour of the tax department. It held that Star Hong Kong had to pay over Rs 800 crore in tax on advertising airtime earned by telecasting in India.

The tax department has put in an additional claim of Rs 450-500 crore for revenue earned by Star thereafter. The department hopes for another victory - but Star wants to settle at the Settlement Commission.

The Settlement Commission rules permit a tax payer to apply only if the case is complex and  if  the tax payer  declares some additional income than what he has before the income tax officer. 

The IT department argues that there is no complexity in the case as the ITAT has already ruled in its favour in the previous case.

Sources said, the Income Tax Depatment may be worried that a negative ruling by the Settlement Commission could close all doors for it since the Commission's ruling is final and binding. And a negative ruling could cost the department hundreds of crore rupees.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Experience

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