In the High Courts: Part A

• Appeal to High Court – Territorial jurisdiction – Sections 116, 120, 124, 127, 260A and 269 of ITA, 1961 – Territorial jurisdiction of High Court is n...
• Business expenditure – Disallowance u/s 43B of ITA, 1961 – Deduction only on actual payment – Service tax – Liability to pay service tax into treasury...
• Business expenditure – Difference between setting up of business and starting commercial activities – Company formed to design, manufacture and sell c...
• Capital gains – Transfer – Sections 45(4) and 47 of ITA, 1961 – Conversion of firm to private limited company – Transaction not transfer giving rise t...

Past Issues

President's Message

On October 2, 2019, the whole world will celebrate the 150th birth anniversary of the 'Father of the Nation' - Mahatma Gandhi. India will mark the event, both nationally and internationally, by propagating the message of the Mahatma. A national committee headed by the Prime Minister has been set up for this purpose.

Tribunal News : PART A

• Section 43CA applies only when there is transfer of land or building or both – In a previous year, when an assessee engaged in the business of constru...
• Section 56(2)(viia) – Value of tangible or intangible assets once substantiated would be replaced with the book value for the purposes of FMV regardle...
• Section 13(1)(c) – Payments made to trustees in professional capacity cannot be considered as for the benefit of trustees...

Tribunal News : PART C

• Section 90(1)(a)(i) read with Article 25(2) of India-US DTAA — Foreign tax credit is available only in respect of taxes paid on the double-taxed incom...
• Section 9(1)(i) read with section 28(va) of the Act, Article 5(2)(1) of the India-US DTAA – Consideration received for granting the right to render BP...
• Article 11 of India-Cyprus DTAA – Interest earned by Cyprian company from investment in CCDs which were funded by parent company qualified for lower r...
• Non-resident shareholder liable to capital gains tax on transfer of Indian company shares pursuant to conversion of the Indian company into an LLP und...

Tribunal News : PART B

• Section 50C – In the course of assessment proceedings if the assessee objects to adoption of stamp duty value as deemed sale consideration, for whatev...
• Section 234A – Interest u/s 234A can be charged only till the time tax is unpaid...
• Section 54F – Expenditure incurred by the assessee on remodelling, painting of the flat so that the same could be made habitable according to the stan...