In the High Courts: Part A

• Appeal to Appellate Tribunal – Duty of Tribunal to decide appeal on merits – Rule 24 of ITAT Rules, 1963 Rectification of mistakes – Section 254 of ...
• Business expenditure – Section 37 of ITA, 1961 – General principles – Donations made by company under corporate social responsibility – Deductible u/s...
• Business expenditure – Disallowance u/s 40(a)(ia) of ITA, 1961 – Amounts not deductible – Payments liable to deduction of tax at source – Failure to d...
• Deduction u/s 80-IB(10) of ITA, 1961 – Housing projects – Scope of section 80-IB(10) – Not necessary that developer should be owner of land – Joint ve...

Past Issues

President's Message

I feel very proud and satisfied as I write to you for the last time as President of our illustrious Society. It is an honour and a privilege to have led the Bombay Chartered Accountants' Society during a memorable and unprecedented year.

Tribunal News : PART A

• Section 5 – When an assessee had an obligation to perform something and the assessee had not performed those obligations, nor does he even seem to be ...
• Section 143(3), CBDT Instruction No. 5/2016 – Assessment order passed upon conversion of case from limited scrutiny to complete scrutiny, in violation...
• Rule 34 of the Income-tax Appellate Tribunal Rules – The period of 90 days prescribed in Rule 34(5) needs to be computed by excluding the period durin...

Tribunal News : PART C

• Article 13 of India-Mauritius DTAA; section 245R of the Act – As gain on sale of shares by a Mauritius company in a Singapore company which derived su...
• Explanations 6 and 7 to section 9(1)(i) of the Act – Indirect transfer tests of 50% threshold of ‘substantial value’ (Explanation 6) and small shareho...

Tribunal News : PART B

• Section 153C – Assessment u/s 153C which has been initiated without issuance of notice u/s 153C is bad in law...
• Notional interest on security deposit received from lessee is not taxable even during the period when the property was sold, but the deposit continued...
• Section 148 – Assessment completed pursuant to a notice u/s 148 of the Act issued mechanically without application of mind is void and bad in law...
• Section 271(1)(c) – Disallowance u/s 43B in respect of service tax, not debited to P&L, does not attract penalty u/s 271(1)(c)...