Smifs securities case law

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August undefined, 2024

Webthe case of Smifs Securities and the Bombay High Court in the case of Pruthvi Brokers3, the Tribunal held that the claim of depreciation on goodwill made by the taxpayer through … WebSmifs Securities Ltd. ...Respondent(s) O R D E R None appears for the respondent, though served. Heard learned counsel for the Department. Leave granted. This civil appeal concerns the Assessment Year 2003-2004. ... In the present case, the assessee had claimed deduction of Rs.54,85,430/- as depreciation on goodwill. In the course of hearing ...

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Webthe circumstances of the case, deletion of Rs.53,84,766/- has been made correctly?" Answer: Learned Additional Solicitor General fairly concedes that the said question is covered by the decision of this Court in the case of Techno Shares and Stocks Limited vs. Commissioner of Income Tax, reported in [2010] 327 I.T.R. 323, in favour of the assessee. Web1 Jan 2024 · Securities held by UK taxpayers in non-UK resident companies are, therefore, still within the remit of the TiS legislation. The case of Rae v Lazard maintains the principle that the nature of amounts received by UK taxpayers from overseas corporate entities, is dependent on the provisions of the local corporate law applicable, e.g. whether it is … foot fixer laser

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Web28 Mar 2024 · SMIFS Capital Markets Ltd. key Products/Revenue Segments include Income From Sale Of Share & Securities and Income From Investment Banking for the year ending 31-Mar-2024. For the quarter ended 31-12-2024, the company has reported a Consolidated Total Income of Rs 12.00 Crore, down 27.80 % from last quarter Total Income of Rs 16.62 … http://www.in.kpmg.com/taxflashnews/KPMG-Flash-News-Zydus-Wellness-Ltd-2.pdf WebThe circumstance that the declaration of law in Smifs Securities (supra) envisions inclusion of goodwill as an asset and, therefore, entitled to depreciation, in other words does not necessarily mean that in every case the goodwill claim has to be allowed. footfixx hollow medium

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WebThe Court of Appeal has overturned the taxpayer’s successful appeal to the Upper Tribunal in the case of Development Securities v HMRC, a case on the tax residence of companies. The appeal succeeded on technical grounds and arguably complicates, rather than clarifies, the test for corporate residence in circumstances where a subsidiary ... http://bo.smwml.com/shrdbms/userlogin.ss elevated cortisol effects on bodyWeb28 Jul 2024 · Smifs Securities Limited [2012] 348 ITR 302 (SC)). Inspite of the above, whether goodwill can be said to have been acquired and whether the buyer is entitled to record goodwill in its books of accounts in a particular situation/transaction has been a subject matter of debate. elevated cortisol levels in dogs

"Web30 Aug 2012 · On August 22, 2012 a Division Bench of the Chief Justice of India and Justice Madan B. Lokur passed judgment in CIT, Kolkata v SMIF Securities Ltd. The judgment, which has wide-ranging ramifications, deals with the valuation of “goodwill” and whether depreciation on the same can be claimed. " - Smifs securities case law

Smifs securities case law

Depreciation on goodwill: Final nail on the coffin by the Indian tax ...

Web51 That interpretation is supported by the Court’s settled case-law, which states that among the transactions which do come within the scope of the Sixth Directive, but are exempted from VAT under Article 13B(d)(5) of that directive, are transactions in shares, interests in companies or associations, debentures and other securities that consist in obtaining … Web[refer CIT v. Smifs Securities Ltd.: 348 ITR 302 (SC)]. Accordingly, cost of goodwill acquired is included as part of block of assets for claiming depreciation thereon. The Finance Bill, 2024, with an intention to deny depreciation on goodwill, proposed to amend section 2(11) and section 32 to specifically

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Web5 Sep 2024 · Smifs Securities Ltd. [2012] 348 ITR 302 (SC) is a landmark ruling widely relied upon by other Tribunals/ High Courts in deciding on the issue. In the said judgment, the … WebJersey Law Reports England and Wales: Courts House of Lords Supreme Court Privy Council Court of Appeal Court of Appeal (Civil Division) Court of Appeal (Criminal Division) High Court Administrative Court Admiralty Division Chancery Division Commercial Court Exchequer Court Family Division King's Bench Division Mercantile Court Patents Court

Web14 Jun 2024 · Millennium thereafter filed for bankruptcy, and the bankruptcy trustee filed a lawsuit against the banks, claiming they had, among other things, violated state securities laws (so-called “blue sky” laws) by making misrepresentations to investors, including falsely assuring investors that Millennium had no exposure to material litigation. Web7 Mar 2007 · Get free access to the complete judgment in Smifs Securities Ltd. v. Securities & Exchange Board Of India . on CaseMine. ... Creating a unique profile web page …

Web13 Sep 2012 · Dear Mates There is a recent judgement of SC for cit kolkatta vs smif securities ltd on depriciation of goodwill Can someone please provide me with a copy of its ITAT JUDGEMENT of this case law Please Thanks. Site. Courses. bookmark_border. search. person. Login Register. Home; grid_view Explore. laptop. CCI ... WebPrior to the enactment of the Private Securities Litigation Reform Act of 1995 (“PSLRA”), courts were given little legislative guidance on the proper mental state requirement to be applied in civil aiding and abetting actions, either private or governmental. The case law addressing the issue was in disar - ray as a result.

Web‟ITAT with respect to assessee s reliance on Smifs Securities Ltd. held that the only issue there under was whether the goodwill falls in the category of intangible assets or any …

WebThe Supreme Court in the case of Smifs Securities Ltd. put the above controversy at rest and held that the goodwill being a difference between the amount paid and cost of shares … foot fixtures todayWebThe meaning of transactions in securities has been clarified by case law as including the following: Redemption of a security IRC v Parker (1966) 43TC396; elevated cortisol levels in menWeb22 Aug 2012 · Income Tax Case Laws [2012] 24 taxmann.com 222 (SC) [22-08-2012] Commissioner of Income-tax, Kolkata vs. Smifs Securities Ltd... • In favour of assessee • Supreme Court Income Tax Case Laws [2024] 122 taxmann.com 40 (Ahmedabad - Trib.) [21-10-2024] Urmin Marketing (P.) Ltd. vs. Deputy Commissioner of Income... elevated cortisol in dogsWeb25 Aug 2024 · Company Law; Other News. News; DTAA. Double Taxation Avoidance Agreement. Head Of Income; Interesting Income Tax ... Posts tagged "CIT vs. SMIFS Securities Ltd. (2012) 348 ITR 302" Home; Posts tagged "CIT vs. SMIFS Securities Ltd. (2012) 348 ITR 302" ... apply while interpreting it Depreciation u/s. 32 on Stock Exchange … foot fixturesWeb13 May 2024 · Subsequent to the decision of Smifs Securities, there have been a plethora of judgments that have relied on the apex court ruling and allowed depreciation on goodwill both in case of tax-neutral ... footfixx hollowWebAnswer: In the present case, the assessee had claimed deduction of Rs.54,85,430/- as depreciation on goodwill. In the course of hearing, the explanation regarding origin of such goodwill was given as under: "In accordance with Scheme of Amalgamation of YSN Shares & Securities (P) Ltd with Smifs Securities Ltd (duly sanctioned by Hon'ble High ... elevated cortisol levels at nightWeb11 Apr 2024 · About the Tribunal. ITAT is a quasi judicial institution set up in January, 1941 and specializes in dealing with appeals under the Direct Taxes Acts. The orders passed by the ITAT are final, an appeal lies to the High Court only if a substantial question of law arises for determination. Starting in 1941 with six Members constituting three ... elevated cortisol levels in children