Tag: ITAT Mumbai

Commission earned by distributing Mutual Funds regulated by SEBI & RBI Outside India not sufficient business nexus

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Commission earned by distributing Mutual Funds regulated by SEBI & RBI Outside India not sufficient business nexus The brief facts of the case pertaining to this issue, as emanating from the record are: The assessee is a company incorporated in Singapore under the Singapore Companies Act. The assessee is a tax resident of Singapore and…

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Finance

Can information in Tax Audit Form 3CD lead to adjustment by CPC by invoking the provisions of Section 143(1)(iv)?

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Can information in Tax Audit Form 3CD lead to adjustment by CPC by invoking the provisions of Section 143(1)(iv)? The facts of the case shows that the assessee made a company engaged in the business of transportation of solid waste management. For Assessment Year 2017-18, it filed its return of income at Rs.4,38,53,460/-. The above…

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Finance