28 March, 2014
The importance/ impact of terms in agreements and terms of the agreement were brought to fore in the recent ruling of ITAT, Delhi in DDIT v. JC Bamford Excavators Ltd. [Order dated 14-3-2014]. The assessee had entered into an agreement with its subsidiary JCB India, deputing certain personnel who received payment for services rendered (claimed to be technical services), which ...
9th May, 2013
In a recent order, the Income Tax Appellate Tribunal (ITAT), Mumbai had the occasion to go into the question of what is or is not an international transaction. The parent company of the appellant had sold its imaging business, globally. As part of this, but on facts, independently, the Indian subsidiary sold its medical imaging business to the subsidiary of the foreign buyer. Th...
By Dinesh Babu Eedi
On 2nd December, 2014, the Union Cabinet, approved the Companies (Amendment) Bill, 2014 (‘Amendment Bill’) for introduction in Parliament (Lok Sabha) to make certain amendments in the Companies Act, 2013 (‘2013 Act’). The 2013 Act was brought into force partly on 12th September, 2013, and on 1st April, 2014, of 470 Sections of the 2013 Act, 283 Sections and 22 s...
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