“AOP’s or BOI’s included in the definition of ‘person’ held as not unconstitutional” In recent times, owing to the writ petition filed in High Court of Punjab & Haryana challenging the validity of definition of person as given under Section 65B(37) of Finance Act, 2012 to the extent it includes an association of persons or body of individuals …
AMENDED RULES REGARDING QUOTING OF PAN FOR SPECIFIED TRANSACTIONS In order to curb the circulation of black money and widening of tax base, to collect information of certain types of transactions from third parties in a non-intrusive manner, the Income-tax Rules require quoting of Permanent Account Number (PAN) where the transactions exceed a specified …
CO. ENGAGED IN CLINICAL RESEARCH ISN’T COMPARABLE WITH A SOFTWARE DEVELOPMENT SERVICE PROVIDER Mindtek v. ITO [Bangalore ITAT] IT (TP) Appeal No. 1082 of 2011, dated May 14, 2015. Facts of the case The assessee company is engaged in the business of rendering software development research and development services. The Assessee provides such services to its …