Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: TDS :: list of goods taxed at 4% :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: VAT Audit :: cpt :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES
 
 
News Headlines »
  I-T department asks taxpayers to update their information on e-filing portal
  How to check income tax refund status
 GST panel to consult MSMEs in October end to further ease tax rigour
  How to check income tax return status
 Been Served a Notice by the Income Tax Department? Here’s How You Can Respond
 Seeks to amend the CGST Rules, 2017 - 45/2017 - Central GST (CGST)
 Government provides clarity on tax rate
 Processing of returns in Form ITR-I under section 143(1) of the Income-tax Act, 1961
  Filing of Reconciliation return in form 9 for the year 2016-17
  Today is last date for filing GSTR-1 forms for July; govt rules out further extension
 Today is last date for filing GSTR-1 forms for July; govt rules out further extension

Drags Income - Tax dept. to court
May, 01st 2009

Aditya Birla Nuvo has moved the Bombay High Court against the income tax department for sending it a notice that treats the company as an agent of the US telecom major AT&T. AT&T had sold about 16% stake in Idea Cellular to Aditya Birla Nuvo for about $150 million. The writ petition filed by the company is likely to come up for hearing next week.

AT&T did not pay tax on this transaction on grounds that the deal was routed through a company based in Mauritius with which India has signed a double tax avoidance treaty. Since AT&T had not paid capital gains tax on this transaction, by naming Aditya Birla Nuvo as an agent of AT&T, I-T has effectively shifted tax liability of the transaction to the latter.

The tax notice was issued to the company despite the fact it had secured a no objection certificate (NOC) from the income-tax department before making the payment to AT&T, the US.

I-T department had earlier sent a notice to Cingular, which had acquired AT&T . Experts on cross-border taxation viewed the notice to Cingular as a preliminary to bringing Aditya Birla Nuvo in the tax net.

The Aditya Birla Groups main contention against the department centres around NOC issued by the department and the latter going back on its word. However, according to the tax department, the NOC given to Aditya Birla Nuvo was at best provisional. An I-T source told ET that a provisional permission would not deter it from sending notices. The I-T departments view is that since it is not planning to raise tax from both the parties, they should decide among themselves, as to who would pay the tax.

Tata Industries, which had sold its shares to the Birla Group in 2006, was also sent a demand notice, following which it paid Rs 45 crore.

 
 
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 Vision

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