International Tax
ITAT: Date of sale deed registration not relevant for Sec 54 exemption
Date of transfer for Sec 54 exemption on flat determined based on possession, payment and execution of sale deed and not the date of sale deed registration –
HC: Sec 234D Interest leviable only if excess refund granted pursuant to intimation u/s 143(1)
Sec 234D interest leviable only when excess refund was granted to the assessee pursuant to intimation u/s 143(1) and not upon appellate orders: Bombay HC
ITAT: Date of JDA not relevant for levy of capital gains tax
Willingness of transferee to perform obligations u/s 53A of Transfer of Property Act essential for deciding accrual of capital gain and not date of development agreement
ITAT: Airport terminal building eligible for higher depreciation as 'plant'
Airport terminal building to be treated as ‘plant’; higher rate of depreciation @ 25% applicable
HC: RBI's approval under FEMA constitutes deemed approval for deduction u/s 10A(3)
RBI approval under FEMA for delayed exports realisation sufficient to claim Sec 10A deduction
ITAT: DDT liability not dependent on eventual taxability of dividend income
Liability for DDT arises on declaration of dividend, subsequent event of amalgamation leading to non-taxability of such dividend not a relevant consideration for levy of DDT –
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’ from AY 2010-11 and not retrospective from AY 2005-06: Mumbai
ITAT: ITAT- Gross tax before STT rebate u/s 88E to be compared with MAT
Tax liability, before reducing STT credit available u/s 88E ,to be compared with MAT liability u/s 115JB
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 of DAPE of Rolls Royce Singapore referred back to AO
HC: Rolls Royce PLC UK taxable on account of India PE
Rolls Royce PLC UK taxable on account of India PE