In the High Courts: Part A

• Business – Adventure in nature of trade – Assessee holding immovable property from 1965 – Agreement for developing property in 1994, supplementary agr...
• Co-operative society – Special deduction u/s. 80P – No deduction where banking business is carried on – No evidence of banking business – Mere inclusi...
• Company – Recovery of tax from director – Notice to directors – Condition precedent – Furnishing of particulars to directors of steps taken to recover...
• Educational institution – Exemption u/s. 10(23C)(vi) - Where assessee society was set up with object of imparting education and it had entered into fr...

Past Issues

President's Messege

Four years ago, the Modi Government was voted into power with a stupendous majority that shocked its critics. Vowing to transform India and accelerate it on the path to progress and prosperity, the government rolled up its sleeves and got on the job with diligence.

Tribunal News : PART A

• Section 37(1) – Premium paid on keyman insurance policy, under which in the event of death of the directors assured sum had to be received by the asse...
• Section 115JB – For computing book profits u/s. 115JB, no adjustment can be made in respect of depreciation provided at a rate higher than that prescr...

Tribunal News : PART C

• Article 7(1) of India-USA DTAA; Section 9(1)(i), 40(a)(i), 195 of the Act –Support services obtained from an associate entity in USA under a service ...
• Article 12 of India-USA DTAA; Section 9(1)(vii), 40(a)(i) of the Act – Rendering of service through deployment of personnel having requisite experienc...
• Article 13(4) of India-UK DTAA –Payments made for consultancy services cannot be termed as technical services merely because consultancy services has ...
• Section 92B and section 271AA of the Act –Penalty cannot be levied for failure to disclose share issue transaction in Form 3CEB filed before the 2012 ...

Tribunal News : PART B

• Section 133A – Returned income as against declared income during survey accepted....