In the High Courts: Part A

• Business expenditure – Section 37 of ITA, 1961 – Prior period expenses – Assessment of income of prior period – Prior period expenses deductible – No ...
• Charitable institution – Registration u/s 12AA of ITA, 1961 – Cancellation of registration – No finding that activities of charitable institution were...
• Charitable purpose – Exemption u/s 11 of ITA, 1961 – Assessee entitled to allocate domain names providing basic services of domain name registration c...
• Capital gains – Exemption u/s 54F of ITA, 1961 – Agreement to sell land in August, 2010 and earnest money received – Sale deed executed in July, 2012 ...

Past Issues

President's Message

A lot has been written and said about the impact of technology on our lives. We often read about how technology will influence every aspect of our lives. Technology used in a positive way leads to innovations, which in turn result in an improved and enhanced lifestyle and better standard of living.

Tribunal News : PART A

• Section 115JAA r.w.s. 263 – Amalgamated company is entitled to claim set-off of MAT credit of the amalgamating company...
• Section 41(1) r.w.s. 28(iv) – Where assessee assigned its loan obligation to a third party by making a payment in terms of present value of future lia...
• Section 148 – Issue of notice u/s 148 is a foundation for reopening of assessment and to be sent in the name of living person – Where notice is issued...
• Section 80-IB(10) – Deduction u/s 80-IB(10) cannot be denied even if the return of income is filed beyond the due date u/s 139(1) owing to bona fide r...

Tribunal News : PART C

• Article 7 of India-Germany DTAA – In absence of common link in terms of contracts / projects, expats, nature of activities, location, or contracting p...
• Section 195 – As services of copyediting, indexing and proofreading do not qualify as FTS, tax could not be withheld u/s 195 of the Act...
• Section 167B(1) of the Act – Where foreign company is a member of an AOP and share of profits of the members is indeterminate or unknown, income of AO...
• Section 9, Article 7 of India-Qatar DTAA – Non-compete fees received under an independent agreement executed after sale of shares was business income ...

Tribunal News : PART B

• Section 147 / 154 – AO cannot take recourse to explanation 3 to section 147 while invoking section 154 after the conclusion of proceedings u/s 147...
• Section 271(1)(c) – AO initiated penalty proceedings on being satisfied that inaccurate particulars of income were furnished but levied penalty on the...