Sec. 40(b)(v)- Quantum of remuneration or the manner of computing the quantum of remuneration should be stipulated in the partnership deed

Sec. 40(b)(v)- Quantum of remuneration or the manner of computing the quantum of remuneration should be stipulated in the partnership deed Posted: 12 Nov 2011 01:05 AM PST Sood Brij & Associates vs. CIT (Delhi High Court) -On reading the supplementary partnership deed, in the present case, it is clear that the remuneration is not specified. The manner of computing the remuneration is not specified. On the other... Excise duty Refund eligible for deduction u/s. 80IB(1) Posted: 11 Nov 2011 09:46 PM PST ACIT vs. The Total Packaging Services (ITAT Mumbai)- The payment of Central excise duty has a direct nexus with the manufacturing activity and similarly, the refund of the Central excise duty also has a direct nexus with the manufacturing activity.... Section 80IA(5)- Once the set off Loss & Depreciation of eligible unit prior to initial assessment year has taken place in an earlier year against the other income, the Revenue cannot rework the set off amount and bring it notionally Posted: 11 Nov 2011 09:30 PM PST Shri. Anil H. Lad v. DCIT (ITAT Bangalore)- Where the depreciation and loss of earlier assessment years have already been set off against other business income of those assessment years, there is no need for notionally carrying forward and setting... Discussion Paper on Potential Reform of the SEZ Policy and Operating Framework Posted: 11 Nov 2011 08:22 PM PST The SEZ sector has grown significantly since the enactment of the SEZ Act 2005 and Rules in 2006, in terms of the number of SEZs, investment attracted, and employment and exports generated. While these achievements are irrefutable and significant, a...