In the High Courts: Part A

• 1 Section 143(3) – Assessment – Construction business – Estimate of cost of construction – Reference to DVO – Books of account maintained by assesse...
• 2 Sections 40(a)(ia), 194H and 194J – Business expenditure – Disallowance – Payments subject to TDS – Compensation paid to joint venture partner und...
• 3 Section 14A - Business expenditure – Disallowance – Assessing Officer cannot attribute administrative expenses for earning tax free income in exc...
• 4 Section 54EC – Exemption of Capital gain – Time of six months from date of transfer for investment – Transfer effected only on transfer of physic...

Past Issues

President's Messege

Surfing the net one evening, I found an interesting quote:

Contentment is the highest gain, Good Company the highest course, Enquiry the highest wisdom, and Peace the highest enjoyment How true, how true... but I realised it’s even more relevant if you are a highly respected and eagerly awaited  Journal and now on its way to celebrate the fiftieth anniversary of the prestigious BCA Journal starting this April.

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Tribunal News : PART A

• 1 Section 253 – An erroneous disallowance made by the assessee in its return of income on account of non-deduction of tax at source which disallowan...
• 2 Sections 2(29A) r.w.s. 2(42B) and 251 – Gain arising on sale of shares of a private limited company, offered in the return of income as `short ter...
• 3 Section 47(iv) – Transaction of transfer of shares by a company to its second step down 100% subsidiary cannot be regarded as ‘transfer’ in view ...
• 4 Section 54 – The exemption u/s. 54 cannot be denied even in a case where the assessee has utilised the entire capital gain by way of making payme...

Tribunal News : PART C

• 1 Article 5(4), 7 & 8 of India-Mauritius DTAA –When place of effective management is not situated in one of the contracting states but in a third c...
• 2 Article 12 of India-USA DTAA; Section 9(1)(vi), 40(a)(i), 195 of the Act – payments made to the parent company on a cost to cost basis for avail...
• 3 Article 5 and 7 of India-UAE DTAA – AAR’s decision indicating that a group concern has a PE in India, cannot be a basis for concluding that the Tax...
• 4 S. 2(14), S. (47), S. 45, S. 92B of the Act; Exercise of right to nominate a person to exercise call option results in transfer of a capital asse...

Tribunal News : PART B

• 1 Section 54 – Two separate contracts for purchase of flat viz. one for house property and the other for furniture, etc. considered, in substance, ...