In the High Courts: Part A

• Section 40A(3) r.w.r. 6DD of ITR 1962 – Business expenditure – Disallowance u/s. 40A(3) – Payments in cash in excess of specified limit – Exceptions u...
• Section 37 – Business expenditure – Capital or revenue – Test to be applied – Pre-operative expenditure of new line of business abandoned subsequently...
• Section 37(1) and Rule 9A of ITR 1962 – Business expenditure – Where assessee was engaged in business of production and distribution of films, cost of...
• Section 37(1) – Business expenditure – Compensation paid by assessee developer to allottees of flats for surrendering their rights was to be allowed a...

Past Issues

President's Message

The results of the 17th Lok Sabha elections have been announced and in a decisive mandate, the Narendra Modi-led National Democratic Alliance (NDA) has been voted back to power with a clear, resounding majority. At the outset, I would like to congratulate the Prime Minister and his entire team for this thumping success.

Tribunal News : PART A

• Section 54F r.w.s. 45, 2(29B) and 2(42B) – Assessee having acquired rights in a flat vide allotment letter dated 26.02.2008 issued by the builder whic...
• Section 263 – If a matter is examined by the Assessing Officer during the course of assessment and consciously accepts the plea of the assessee, the o...
• Section 54 – Investment, for purchase of new residential house, made up to date of filing of revised return of income qualifies for exemption u/s. 54...

Tribunal News : PART C

• Article 5(2)(k)(i) of India–UK DTAA – multiple counting of employee in a single day is impermissible for computing service PE threshold; period of sta...
• Article 12 and Article 5 read with Article 7(3) of the India–Russia DTAA – consideration received by a member of a consortium qualifies as business in...
• Sections 9(1)(vi), 9(1)(vii) and Article 12 of the India-Germany DTAA – subscription fees received for access to online database does not qualify as F...
• Section 5(2)(a) and section 15 of the Income-tax Act, 1961 – salary remitted to NRE account in India for services rendered in Nigeria is not taxable i...

Tribunal News : PART B

• Section 201 – Payments to non-residents without deduction of tax at source – Order passed u/s. 201 (1) beyond one year from the end of the financial y...
• Section 56(2)(viib) – Fair market value determined on the basis of NAV method accepted since the assessee was able to substantiate the value...