HC: Division bench admits MindTree's writ challenging constitutional validity of MAT/DDT on SEZ

March 07 2014

Division bench of Karnataka High Court admits MindTree’s writ appeal against single judge ruling upholding constitutional validity of MAT and DDT levy on SEZ; Single judge rejected application o...View more

SC: Admits Poompuhar's SLP on whether income from ship's time chartering constitutes "Royalty"

February 28 2014

Supreme Court admits SLP against Madras HC ruling in Poompuhar Shipping Corporation Ltd; HC had ruled that income from time chartering or use of ships constitutes equipment royalty u/s 9(1)(vi)(b); HC...View more

SC issues notice on Usha International SLP; HC laid down re-assessment law

February 27 2014

Supreme Court (‘SC’) issues notice to Revenue over SLP filed by Usha International on whether re-assessment could be done on basis of Notes of Accounts, also available during original asse...View more

SC reserves ruling on Sec 9(1)(vii) applicability to offshore services in GVK's case

February 26 2014

Supreme Court division bench reserves ruling on whether financial advisory consultancy service rendered by non resident to GVK Industries, falls within ambit of Sec 9(1)(vii) as 'fees for technical se...View more

Karnataka HC gives interim stay on Sec 234E demand recovery

February 22 2014

Karnataka HC gives interim stay on Sec 234E demand recovery: Sources ...View more

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ITAT : Allows non-compete fee deduction; No enduring benefit with 1 year restriction 
Hidelberg Cement India Ltd.

March 04 2014

Non-compete payment (pursuant to Hidelberg's acquisition of Indorama Cements) to Executive Director (‘ED’) allowable, as revenue expense; Assessee-company not deriving any enduring benefit...View more

ITAT : Sec 10B available although unit approved by STPI & not by prescribed Board 
Cat Labs Pvt.Ltd.

March 04 2014

ITAT upholds CIT(A)’s order granting Sec 10B relief to 100% EOU for AY 2009-10 even though approval was granted by STPI and not by Board appointed by Central Govt u/s 14 of Industries (Developme...View more

HC : Directs refund of taxes recovered coercively; AO's action has element of impropriety 
Sony India Pvt. Ltd. & Sony Mobile Communications (India) Pvt. Ltd.

March 01 2014

HC directs AO to refund taxes coercively recovered in Sony's case, Sony directed to maintain balance of equivalent amount in bank account; While there may not be technical fault in AO's action as he m...View more

HC : Sec. 158BD notice on 'other person' issued beyond reasonable time, assessment quashed 
Umesh Chandra Gupta

February 28 2014

HC quashes block assessment order of assessee (‘third party’, not subject to search) as notice u/s. 158BD itself issued beyond reasonable time; AO having jurisdiction over searched person,...View more

ITAT : Remits back Sanofi's TDS liability determination on non-Merieux share acquisition part 
Sanofi Pasteur Merieux

February 28 2014

ITAT sets aside TDS order of lower authorities in Sanofi Pasteur Merieux’s case (formerly ShanH, France); Sanofi had made payments for acquisition of shares of Indian entity, Shanta Biotechnics ...View more

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International Taxation – A Basic Study by PVSS Prasad & Sampath Raghunathan

March 07 2014

The Book “International Taxation – A Basic Study” aims at making the reader acquainted with the concept and principles of international taxation.  The two Hyderabad based author...View more

CBDT ex-post facto extends due-date of filing TDS/TCS statements for Government deductors

March 05 2014

CBDT extends due-date of filing TDS/TCS statements to March 31, 2014 for Government deductors, in view of special circumstances; Extension with respect to TDS/TCS statements for FY 2012-13 ( 2nd to 4t...View more

R.K. Tewari appointed as CBDT Chairman

March 03 2014

R.K. Tewari appointed as CBDT Chairman. The Government of India has appointed Mr. R K Tewari as new Chairperson of Central Board of Direct Taxes (CBDT). Mr Tewari is a 1976-batch Indian Revenue Servi...View more

CBDT releases tentative mandatory transfer list for CITs and Add/Joint Commissioners

March 03 2014

CBDT initiates Annual General Transfer - 2014 process, releases tentative "Mandatory Transfer List"; List contains names of 20 Commissioners and 12 officers at Additional & Joint Commissioner le...View more

CBDT Chairperson Sudha Sharma bids farewell, emphasizes ‘transparency and humane approach’ advocated during tenure

March 03 2014

Sudha Sharma, who took charge as CBDT Chairperson in June 2013, bids farewell after 37 years of service; In her communique, highlights achievements during her tenure, including initiation of cadre res...View more

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ITAT : Sumitomo's supervisory fees taxable as FTS  under Article 12(2); Discusses law on supervisory-PE 
Sumitomo Corporation

March 04 2014

ITAT in second round of appeal holds that supervisory fees received by assessee (Sumitomo Corporation) for installation of equipment received from Maruti Udyod Ltd (MUL) is taxable as FTS under Articl...View more

CBDT releases tentative mandatory transfer list for CITs and Add/Joint Commissioners

March 03 2014

CBDT initiates Annual General Transfer - 2014 process, releases tentative "Mandatory Transfer List"; List contains names of 20 Commissioners and 12 officers at Additional & Joint Commissioner le...View more

HC : Partner's exemption u/s 10(2A) includes dividend/ capital gains exempt in firm's hands 
Vidya Investment and Trading Company Pvt Ltd.

March 03 2014

Karnataka HC explains law on taxation of partnership & partners; Exemption to partner u/s 10(2A) not restricted to amounts which are taxable in partnership firm's hands, but includes fir...View more

ITAT : Upholds Sec 35(2AB) claim made otherwise than in ROI; Pruthvi Brokers decision binding 
United Rubber Industries India Private Limited

March 06 2014

ITAT upholds assessee’s Sec 35(2AB) deduction claim made vide letter filed during assessment proceedings and not while filing original / revised return; Confirms CIT(A)’s order allowing cl...View more

ITAT : Lays criterion for taxing share-sale income; Income taxed as capital gains 
Manish Karwa and others

March 05 2014

ITAT rules profit on sale of STT-paid listed shares, to be taxed as ‘capital gains’ and not ‘business income’; Intention behind investment, treatment in books of account, wheth...View more