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- REDINGTON (INDIA) LIMITED. VS JOINT COMMISSIONER OF INCOME TAX
CHENNAI TRIBUNAL, Jul 07, 2014 Transfer of shares made by assessee company/Corporate entity to its step down subsidiary without consideration is a valid gift and cannot be regarded as transfer of capital asset for purpose of capital gains taxation, as provided in section 47(iii) - ADDITIONAL COMMISSIONER OF INCOME TAX VS DHAMPUR SUGAR MILL PVT. LTD.
HIGH COURT OF ALLAHABAD, Nov 05, 2014 Where the entire interest expenditure was attributable to business in which resultant income was assessable to tax, disallowance u/s 14A is not warranted. - COMMISSIONER OF INCOME TAX VS PRANAV FOUNDATIONS LTD.
HIGH COURT OF MADRAS, Aug 12, 2014 Where the share applicants were registered companies and they had duly furnished the confirmations along with their IT Asst. details, the assessing officer ought to have accepted these contributions towards share capital as genuine and no addition was warranted u/s 68 in hands of assessee on account of share application money received - ASSISTANT COMMISSIONER OF INCOME TAX VS DIVINE (INDIA) INFRASTRUCTURE PVT. LTD.
DELHI TRIBUNAL, Dec 08, 2014 Where assessee provides details pertaining to alleged share application money contributors, then mere non-production of lenders/shareholders cannot be a ground for making addition u/s 68, without establishing that evidence filed by assessee was by bringing new adverse material on record - COMMISSIONER OF INCOME TAX VS KULDEEP SINGH
HIGH COURT OF DELHI, Aug 12, 2014 Word ‘purchase’ used in sub-section (2) of section 54 is not restricted or confined to registered sale deed or even possession but has a wider connotation, thus where the assessee had made entered into construction linked payment plan for purchase of residential property with builder within two years for purchase of property assessee was entitled to claim exemption u/s 54, even when legal title in property was not passed or transferred to assessee within a period of two years from date of sale of the first property - SRINI PHARMACEUTICALS LTD. VS ASSISTANT COMMISSIONER OF INCOME TAX
HYDERABAD TRIBUNAL, Mar 11, 2016 When the revenue is seeking to interfere with the cost accountants report as the adjustment towards under utilization of the capacity has not been allowed both by the TPO as well as the DRP, therefore the matter would depend on adjustment for under utilization of the capacity is allowable or not - ROGER ENTERPRISES P. LTD. & ANR. VS COMMISSIONER OF INCOME TAX & ANR.
HIGH COURT OF DELHI, Feb 04, 2016 When uncontroverted statements of witness are sufficient to substantiate case of Revenue against Assessee the assessee cannot take the plea of violation of principles of natural justice. - COMVERSE NETWORKS SYSTEMS INDIA PVT. LTD. VS COMMISSIONER OF INCOME TAX
HIGH COURT OF DELHI, Jul 22, 2014 A person could be taken to be a representative assessee only in respect of the income of a non-resident and the expression “income of a non-resident” has reference to income in a particular previous year/accounting year for which the person was employed, thus when in the relevant accounting year the person employed was not a non-resident, in relation to that accounting period the petitioner cannot be appointed as a representative assessee and same is notwithstanding the fact that subsequently person employed attained the status of a non-resident and that he was a non-resident when the notice under Section 163(2) were issued to Petitioner - DOW AGRO SCIENCES AGRICULTURAL PRODUCTS LTD., IN RE
ADVANCE RULINGS, Jan 11, 2016 When there was no PE of Assessee in India and assessee did not have any office, employees or agents in India nor it had a permanent place from where it operated from India so investment held in equity shares of Assessee should be - D B PROPERTIES PRIVATE LIMITED VS ADDITIONAL COMMISSIONER OF INCOME TAX
BOMBAY TRIBUNAL, Mar 23, 2016 In the interest of justice, one more opportunity needs to be provided to the assessee company to bring all the relevant and cogent material on record with the revenue to substantiate that its claim of allowance of interest/financial charges expenditure was bona-fide and legitimate, to decide the issue of leviability of penalty u/s 271(1)(c) More
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AMIT BAHL, PARTNER AND NIKHIL GOENKA, ASSOCIATE DIRECTOR, M AND A TAX, PWC INDIA
The horizon of inbound investment has always been dynamic in the Indian periphery. The taxation on transfer of shares of Indian company, both direct and indirect has seen varied interpretations in the past due....
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SHARAD GOYAL, SANJAY KUMAR AND S P SINGH, DELOITTE, INDIA
The digital economy is throwing new challenges to tax policy makers and tax authorities across the globe due to nimbleness in moving fund and technology from one tax jurisdiction to another. The existing tax....
More  | INDIA-MAURITIUS TAX TREATY: THE ‘DOMINO EFFECT’ ON SINGAPORE!! |
SRIRAM RAMASWAMY, PARTNER AND AJAY MR, DIRECTOR, M AND A TAX, PWC INDIA
While a lot has been written and deliberated about the amendments to the India-Mauritius Tax Treaty, the discussions always seem to end with a question: What’s next on the India-Singapore Tax Treaty? One schoo....
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