Burden of proof – Deduction of tax at source by contractee on basis of job works – Amount purported towards tax was deducted by a deductee which has been found by the Assessing Officer in the assessment proceeding as not payable by the assessee. Once this finding has been...
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M/s. ATW Technologies Pvt Limited Bangalore ITAT held, Non compete fees payable to director is capital expenditure not revenue expenditure, not allowable in the hand of the firm/ company. ITAT observation This agreement was executed on 1.4.2001. The company was incorporated on 16.03.2001. He had already undertaken a similar...
Regulation 6 of Notification No. FEMA.3/2000-RB dated May 03, 2000 in terms of which persons resident in India may raise foreign currency loans from non-residents in accordance with the provisions contained in this Notification. Their attention is also invited to paragraph 2(ii)(a) ofAP (DIR Series) Circular No. 27 dated September 23,...