In the High Courts: Part A

• Sections 68, 69A and 254(1) – Appeal to Appellate Tribunal – Jurisdiction and power – Cannot go beyond question in dispute – Subject matter of appeal ...
• Sections 253 and 260 – A Appeal to High Court – Power of High Court to review – High Court has power to review its decision Appeal to Appellate Tribun...
• Section 37 of the Act and Rule 9A of IT Rules, 1962 – Business expenditure – capital or revenue expenditure – Expenditure incurred on account of aband...
• Section 10B – Export oriented undertaking (Date of commencement of production) – Deduction u/s. 10B – Where in order to determine admissibility of ass...

Past Issues

President's Messege

Immediately after the completion of the deadline for transfer pricing audits, we now have one more deadline for uploading of GST Audit Reports by end of December. This would be the first time that the members would be undertaking the assignments for GST Audit for their clients.

Tribunal News : PART A

• Section 40A(2) – Where AO made disallowance u/s. 40A(2)(a) without placing on record any material which could prove that payments made by assessee wer...
• Section 2(24) r.w. section 12AA – Corpus specific voluntary contributions being in nature of 'capital receipt', are outside scope of income u/s. 2(24)...
• Section 54 r.w. section139 and 143 – There is no bar/restriction in provisions of section 139(5) that assessee cannot file a revised return after issu...
• Section 68 - No addition u/s. 68 can be made when assessee is not liable to maintain books of accounts, further bank passbook cannot be regarded as bo...

Tribunal News : PART C

• Article 5(6) & Article 12 of India-Singapore DTAA; Explanation 2 to section 9(1)(vii) of the Act – Presence of employees is to be tested separately fo...
• Article 5 & Article 12 of India-South Africa DTAA; Explanation 2 to section 9(1)(vii) of the Act – Payment for rendering line production services did ...
• Article 5(1) & 5(2)(g) of India-Mauritius DTAA; – Ownership over oil or gas well is not a precondition for constitution of exploration PE under Articl...
• Article 12(4) of India-USA DTAA; Explanation 2 to section 9(1)(vii) – as consideration received for rendering on call advisory services in the nature ...

Tribunal News : PART B

• Section 2(47) – Conversion of compulsory convertible preference shares into equity shares does not amount to transfer...
• Section 194C – Value of by-products arising during the process of milling paddy into rice, which remained with the millers, not considered as part of ...