Editor's Pick

ITAT: Software payment not taxable under treaty; Microsoft ruling not binding precedent

Payment of software not taxable as ‘royalty’ under India-Israel treaty; Motorola SB ruling followed; Delhi ITAT ruling in Microsoft case

Aug 26,2011

HC: Reopening of assessment to deny concessional tax rate u/s 44BB invalid

Reopening of assessment to deny concessional tax rate u/s 44BB, to income from ‘oil exploration activity’, invalid; Re-opening on the

Aug 25,2011

ITAT: Onsite expenses not to be reduced from 'export turnover' for Sec 10A deduction

Expenses incurred by a software developer in foreign currency for ‘onsite projects’ not to be reduced from ‘export turnover’ for

Aug 22,2011

ITAT: Redemption of pref shares amounts to 'transfer' and capital loss allowable

Redemption of preference shares not taxable as 'deemed dividend' u/s 2(22)(d), Capital loss on redemption allowable – Mumbai  ITAT

Aug 22,2011

HC: Assessment on amalgamating company invalid after merger is effective

Framing of assessment against a non-existing entity a ‘jurisdictional defect’ & not procedural defect; Sec 292B not applicable

Aug 20,2011

HC: Can't hold Genpact as representative assessee just because its shares transferred by GE

Representative Assessee not automatically liable for paying tax, merely because it is an agent of the non-resident; Income earned by

Aug 17,2011

ITAT: Date of ESOP grant not the date of acquisition of shares, income taxable as STCG

Mere grant of ‘option to buy’ under Stock Option Plans not akin to transfer; date of grant not to be

Aug 15,2011

HC: Capital gains under land development agreement taxable upon possession

Capital Gain on transfer of property through development agreement taxable in the year of possession; actual date of completion of

Aug 10,2011

AAR: NRs not entitled to concession​​al rate of 10% on LTCG

Non-Resident not entitled to concession​al rate of 10% on LTCG on off-market share sale; Earlier decision in Timken overruled: AAR

Aug 02,2011

ITAT: ITAT - Amount credited to Gen Insurance Co.'s P&L taxable in absence of exclusion

No deduction available for income credited to P&L account though already taxed in earlier years; 'No principle of equity' in

Jul 31,2011