Editor's Pick

HC: Sec 54 exemption allowable if new house purchased before due date of belated tax return

Exemption u/s 54 from capital gains available even if the investment in new house property is made before due date

Oct 20,2011

AAR: Cites McDowell, Ramsay principles; Holds part compensation on Satyam legal suit settlement taxable as royalty

Compensation towards damages, on account of assignment of imperfect title in patent and cost of litigation, is ‘capital

Oct 18,2011

ITAT:  Non-compete fees received by promoter taxable as business income u/s 28(va)


Non-compete fees received by promoter taxable as business income u/s 28(va) & not capital gains as ‘right to

Oct 07,2011

ITAT: Delhi ITAT reignites ESOP taxation debate, holds income from share sale not STCG

'Right' to exercise an option to sell ‘stock’, a capital asset; Right in shares acquired on the date of

Oct 07,2011

ITAT: Tribunal has power to 'strike down' rules/notifications', Sec 10(15)(iv)(f) exemption withdrawal arbitrary

ITAT strikes down Government Order withdrawing exemption to Reliance Industries u/s 10(15)(iv)(f), on ECB interest ; Tribunal has power to strike

Sep 26,2011

HC: HC Directs Asst Comm to pass Sec 197 order without CIT's 'advise'/ 'consent'

Order u/s 197 to be passed after 'independent application of mind', not on 'dictation' or 'advise' of CIT

Sep 21,2011

AAR: AAR rejects payee's application as similar question pending before AO in payer's assessment

The AAR has rejected application by payee as questions raised covered in the assessment of payer entity. AAR observed that the

Sep 21,2011

ITAT: ITAT: No cap gains tax on sale of Indian T-Bills for UAE 'individual residents' under treaty

Individual resident of UAE not subject to capital gains tax under India-UAE treaty on sale of Indian Government's

Sep 17,2011

ITAT: ITAT SB : Sec 40(a)(ia) amendment extending time limit for TDS prospective from AY 2010-11

Amendment to Sec 40(a)(ia) by Finance Act, 2010 extending time limit for deposit of TDS, to avoid disallowance, is ‘prospective’

Sep 12,2011

HC: Rolls Royce Singapore taxable as Indian agent's commission not at arm's length

Commission to Rolls Royce Singapore’s Indian agent not at arm’s length so as to extinguish further tax in India; Determination

Sep 09,2011