Editor's Pick

ITAT: Share application money not share-capital, interest thereon a ‘revenue’ expenditure

Pune ITAT allows deduction to assessee (a closely held company) for interest paid on share application money received

Jun 06,2016

ITAT: Receipt of bonus-shares, though without consideration, not taxable u/s 56(2)

Bangalore ITAT dismisses Revenue’s appeal, bonus shares received by assessee during AY 2012-13 does not result in ‘receipt

Jun 02,2016

CBDT extends time-limit for e-filing of CIT(A) appeals to mitigate taxpayers’ inconvenience

CBDT extends time limit for e-filing of appeals before CIT(A) to mitigate taxpayers' inconvinience, appeal due on or

May 27,2016

10 key takeaways from CBDT's draft 'indirect transfer' valuation rules

CBDT's draft valuation rules to be applicable for tangible as well as intangible assets; In respect of listed

May 23,2016

CBDT proposes draft 'indirect transfer' valuation rules, 11 areas of reporting by Indian cos

CBDT notifies draft rules for determination of Fair Market Value (FMV)  and reporting requirement for Indian concerns in

May 23,2016

Akhilesh Ranjan: BEPS Multilateral instrument won't affect India-Mauritius protocol

Akhilesh Ranjan (Principal CCIT - International Tax & Transfer Pricing) speaks on interplay of India-Mauritius protocol and BEPS

May 20,2016

HC: Tax-refunds a' debt claim', interest on such refund exempt under Indo-Italy DTAA

Madras HC reverses ITAT order, holds that interest on income-tax refund arising to assessee (an Italy-based company) u/s 244A

May 20,2016

ITAT: Software-payments not royalty under treaty; TDS inappliable even on Hong Kong payments pre-2012

Payment by Reliance Industries Ltd. (‘assessee’) to residents of different countries such as Australia, Canada, Singapore, Japan, Netherlands,

May 20,2016

ITAT: Forex loss on loan has nexus with interest cost saving, allows deduction

Pune ITAT allows deduction of foreign exchange fluctuation loss on outstanding foreign currency loan 

May 18,2016

HC: Rejects re-assessment on US-parent, Indian-subsidiary assessed at arm's length not PE

Delhi HC quashes reassessment on US company (‘assessee’), holds that AO’s belief that assessee’s India subsidiary (which was subjected

May 17,2016