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In the High Courts: Part A

• Section 37 of the Act and Rule 9A of IT Rules, 1962 – Business expenditure – capital or revenue expenditure – Expenditure incurred on account of aband...
• Sections 40(a)(ia) and 194J – Business expenditure – Disallowance u/s. 40(a)(ia) – Payments liable to TDS – Third party administrator for insurance co...
• Section 12A – Charitable or religious trust – Registration of (Cancellation of) – Where assessee educational society, set up with various aims and obj...
• Section 10(23C)(iiiad) – Educational institution – Exemption u/s. 10(23C)(iiiad) – Assessee-trust was established predominantly with an object of prov...

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President's Messege

At the outset, let me take this opportunity to wish you a Happy New Year 2019. 2018 is a year which will be remembered in the history of accountants and finance professionals for a variety of reasons - both good and not so good.

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Tribunal News : PART A

• Section 50C – Proviso to section 50C inserted by Finance Act, 2016 w.e.f. 1.4.2017 being curative in nature is retrospective....
• Section 68 – Additions made to income of assessee, who was a non-resident since 25 years, were unjustified since no material was brought on record to ...
• Section 271AAA r.w.s 132 and 153C – Where no search and seizure operation u/s. 132(1) was carried out in assessee's case, initiation of penalty procee...
• Section 234A – When the taxes have been deposited before the original due date of filing of return of income even though the return has been filed wit...

Tribunal News : PART C

• Article 12 of India-USA DTAA; Explanation 2 to section 9(1)(vi), payment made towards web hosting charges not taxable as royalty under the Act as well...
• Section 5 of the Act – salary for services rendered outside India but received in India is not taxable in India in absence of TRC if the Taxpayer furn...
• Section 9 of the Act; Article 12 of India-Japan DTAA – payments received by Japanese company in respect of deputation of high-level technical executiv...
• Section 9 of the Act; Articles 7, 5 and 12 of India-Philippines DTAA – In absence of FTS Article in DTAA, and in absence of PE in India, receipt of Ph...

Tribunal News : PART B

• Section 194-1A – Four persons who purchased immovable property of Rs. 1.5 crore jointly not liable to deduct tax at source since purchase consideratio...
• Section 2(47) – Reduction of share capital, even where there is no change in the face value of the share or the shareholding pattern, results in exti...