In the High Courts: Part A

• Capital gains – Exemption u/s 54 of ITA, 1961 – Scope – Additional cost of construction incurred within stipulated time though not deposited in capita...
• Charitable purpose – Meaning of – Sections 2(15) and 11 of ITA, 1961 – Preservation of environment is an object of general public utility – Polluting ...
• Exemption u/s 10(10AA) of ITA, 1961 – Leave salary (government employees) – Government employees enjoy protection and privileges under Constitution an...
• Income Declaration Scheme, 2016 – Scope of – Amount paid as advance tax can be adjusted towards amount due under Scheme...

Past Issues

President's Message

The Institute of Chartered Accountants of India (ICAI) declared the results of the Chartered Accountants Final Examination (old & new Course) held in November, 2019 on 16th January, 2020 and totally 14,591 newly-qualified CAs were added to our fraternity.

Tribunal News : PART A

• I. Section 43(6), Explanation 2 – In Explanation 2 to section 43(6), deprecation actually allowed shall not include any unabsorbed depreciation – The ...
• Section 10(13A), Rule 2(h) of Fourth Schedule – For the purpose of computing qualifying amount u/s 10(13A) of the Act, the amount received as performa...
• Section 142A(6): It is mandatory for the Valuation Officer to submit the Valuation Report within six months from the date of receipt of the reference ...
• Section 142A(6): It is mandatory for the Valuation Officer to submit the Valuation Report within six months from the date of receipt of the reference ...

Tribunal News : PART C

• Article 15 of India-Korea DTAA – Technical advisory services provided by non-resident individual to Indian company were in nature of IPS under Article...
• Article 12 of India-Finland DTAA – Consideration for distribution, updation and maintenance of software, without right of exploitation of intellectual...
• Article 12 of India-Singapore DTAA – Receipt from Indian group companies towards information technology and business support services did not qualify ...
• Article 7 of India-US DTAA – Explanation (a) to section 9(1)(v)(c) of the Act – Interest paid by an Indian branch of a foreign bank to its head office...

Tribunal News : PART B

• Proviso to section 2(15) r/w/s 11 and 12 – As part of running an educational institution and imparting training to the students, the assessee had unde...
• Section 56(2)(viib) – When there was no case of unaccounted money being brought in the garb of share premium, the provisions not attracted...