Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Deemed divided u/s 2(22)(e) requires arriving at accumulated profits by deducting depreciation as per Income-tax Act rates. Bombay High Court in Navnit Lal C Javeri and Jamnadas Khimji Kothari cases held that for calculating accumulated profits u/s 2(22)(e), depreciation should be deducted at rates prescribed by Income-tax Act, not as per company's balance sheet. Profits disclosed in balance sheet are subject to adjustment by deducting depreciation as per Income-tax Act rates to determine accumulated profits for deemed dividend taxation u/s 2(22)(e).
Deemed divided u/s 2(22)(e) requires arriving at accumulated profits by deducting depreciation as per Income-tax Act rates. Bombay High Court in Navnit Lal C Javeri and Jamnadas Khimji Kothari cases held that for calculating accumulated profits u/s 2(22)(e), depreciation should be deducted at rates prescribed by Income-tax Act, not as per company's balance sheet. Profits disclosed in balance sheet are subject to adjustment by deducting depreciation as per Income-tax Act rates to determine accumulated profits for deemed dividend taxation u/s 2(22)(e).
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