UAE Corporate Tax: Federal Tax Authority issues Guidelines for Determination of applicability of Corporate Tax for Individuals
Non-resident individuals may be liable for corporate tax if they establish a permanent presence in the UAE, surpassing a total turnover of Dh 1...
![Unsecured Loans and Share Application Money cannot be Bogus in the Absence of Evidence as to Identity and Creditworthiness of Creditors and Genuineness of Transaction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Loans-Share-Application-Money-Bogus-Absence-Evidence-Identity-Creditworthiness-Creditors-Genuineness-Transaction-ITAT-TAXSCAN.jpg "Unsecured Loans and Share Application Money cannot be Bogus in the Absence of Evidence as to Identity and Creditworthiness of Creditors and Genuineness of Transaction: ITAT [Read Order]")
![Production and Sale of Tissue Culture Plants is Business Activity, Not Agricultural: ITAT Upholds Revision [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Production-Sale-Production-and-Sale-Tissue-Culture-Plants-Business-Activity-Agricultural-ITAT-taxscan.jpg "Production and Sale of Tissue Culture Plants is Business Activity, Not Agricultural: ITAT Upholds Revision [Read Order]")
![Earning from Foreign Exchange Fluctuations not in connection with Business Activity, Income Tax Addition not valid: Gujarat HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Foreign-Exchange-Business-Activity-Income-Tax-Addition-Gujarat-HC-taxscan.jpg "Earning from Foreign Exchange Fluctuations not in connection with Business Activity, Income Tax Addition not valid: Gujarat HC [Read Order]")
![No Disallowance of Expenses on basis of Lack of Business Activity or Non-Reporting Income under PGBP: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Disallowance-Expenses-Business-Activity-Income-PGBP-ITAT-taxscan.jpg "No Disallowance of Expenses on basis of Lack of Business Activity or Non-Reporting Income under PGBP: ITAT [Read Order]")
Nayara Energy entitled to Cenvat Credit in respect of all the services related to manufacturing activity, overall business activity: CESTAT [Read Order]
The Customs, Excise, Service Tax Appellate Tribunal (CESTAT), Ahmedabad Bench ruled that Nayara Energy is entitled to Cenvat Credit in respect of all the services related to manufacturing activity,...
![Nayara Energy entitled to Cenvat Credit in respect of all the services related to manufacturing activity, overall business activity: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Nayara-Energy-Cenvat-Credit-manufacturing-activity-business-activity-CESTAT-Taxscan.jpg "Nayara Energy entitled to Cenvat Credit in respect of all the services related to manufacturing activity, overall business activity: CESTAT [Read Order]")
Receipt from Renting Out of building Taxable as ‘Rental Income’ or ‘Other Income’Even If such renting is incidental to Business Activity: ITAT
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the lease rental income should be taxed under the head “Income from House Property” or “Income from Other Sources” even if...
Frequency, Magnitude of Transaction in Systematic Manner not a Criteria to treat Share Transaction a Business Activity: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Ahmedabad bench has held that the frequency, magnitude of the transaction in a systematic manner cannot be the criteria to hold that the assessee is engaged...
![Frequency, Magnitude of Transaction in Systematic Manner not a Criteria to treat Share Transaction a Business Activity: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/06/Sale-of-Shares-Tax-Scan.jpg "Frequency, Magnitude of Transaction in Systematic Manner not a Criteria to treat Share Transaction a Business Activity: ITAT [Read Order]")
ITAT Allows Remuneration to Lady Directors though they are not involved in Pure Managerial or work of Company [Read Order]
The Income Tax Appellate Tribunal (ITAT) Kolkata on June 6 allowed remuneration given to lady directors even though they are not involved in pure managerial or supervising work of Company. The...
![ITAT Allows Remuneration to Lady Directors though they are not involved in Pure Managerial or work of Company [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/Managerial-Remuneration-Taxscan.jpg "ITAT Allows Remuneration to Lady Directors though they are not involved in Pure Managerial or work of Company [Read Order]")
S.43 IT Act Applicable to Gain made on Assets for Business/ Profession due to Foreign Exchange Fluctuation: Calcutta HC [Read Judgment]
The Calcutta High Court in CIT vs. M/s. Bengal Intelligent Parks Pvt. Ltd. held that Section 43A of the Income Tax Act,1961 would only apply to the apparent gain made by the assessee, in acquiring...
![S.43 IT Act Applicable to Gain made on Assets for Business/ Profession due to Foreign Exchange Fluctuation: Calcutta HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Calcutta-High-Court-Tax-Scan.jpg "S.43 IT Act Applicable to Gain made on Assets for Business/ Profession due to Foreign Exchange Fluctuation: Calcutta HC [Read Judgment]")
Sale of Land cannot be treated as Business Activity even though there is a Higher Volume of Sale Consideration: ITAT [Read Order]
Income Tax Appellate Tribunal (ITAT), Rajkot bench, while allowing the assessees’ appeal, held that the sale of land cannot be treated as business activity for the purpose of levying income tax even...
![Sale of Land cannot be treated as Business Activity even though there is a Higher Volume of Sale Consideration: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/12/Sale-of-Land-Taxscan.jpg "Sale of Land cannot be treated as Business Activity even though there is a Higher Volume of Sale Consideration: ITAT [Read Order]")