In the High Courts: Part A

• Capital gains – Exemption u/s 54(1) – Sale of capital asset and acquisition of ‘a residential house’ – Meaning of ‘a residential house’ in section 54(...
• Capital gains – Assessability – Slump sale – Section 2(42C) – Assets transferred to subsidiary company in accordance with scheme u/s 394 of the Compan...
• Company – Book profits – Capital gains – Sections 45, 48, 115JB – Computation of book profits u/s 115JB – Scope of section 115JB – Indexed cost of acq...
• Offences and prosecution – Wilful attempt to evade tax – Sections 132, 153A, 276C(2), 276CC – Ingredients of offence – Failure to furnish returns and ...

President's Message

In continuation of my message in November, 2020 on social responsibility activities, the BCA Foundation (BCAF) in association with the Dharma Bharati Mission (DBM India) has re-launched a social project 'Chalo English Sikhayein'

Tribunal News : PART A

• Sections 50, 112 – Capital gains computed u/s 50 on transfer of buildings which were held for more than three years are taxable @ 21.63% u/s 112 and n...
• Section 45, Rule 115 – Foreign exchange gain realised on remittance of amount received on redemption of shares, at par, in foreign subsidiary is a cap...
• Section 23, Rule 4 – Amount of rent, as per leave and license agreement, which is not received cannot be considered as forming part of annual value me...
• CIT(E) cannot pass an order denying registration u/s 12AA (without following the procedure of cancellation provided in the Act) from a particular asse...

Tribunal News : PART C

• Explanation 7 to section 9(1)(i) – Small shareholder exemption introduced by this Explanation inserted by Finance Act, 2015 is retrospective in nature...
• Articles 8 and 24 of India-Singapore DTAA – Limitation of Relief (LOR) provisions (Article 24 of India-Singapore DTAA) are not applicable if (a) India...

Tribunal News : PART B

• Section 22 – Assessee is builder / developer – Rental income derived is taxable as Business Income and section 22 is not applicable – In respect of un...