Editor's Pick

HC: "Work" u/s 194C given restricted interpretation, does not cover franchisee agreement 

Revenue sharing arrangement entered by IIT, IIM coaching class with franchisees not covered by the term ‘work’ u/s 194C; No

Apr 24,2012

HC: Sec 50C not attracted on sale of land held as stock-in-trade

Stamp duty valuation provisions u/s 50C not applicable to sale of plot of land held as stock-in-trade; Sec 50C applies

Apr 19,2012

ITAT: Sec 12A benefit not available to revised objects unless intimated, examined by AO

Sec. 12A benefit cannot be automatically extended to amended clauses of memorandum & bye-laws of the society; Benefit u/s 12A not

Apr 19,2012

ITAT: Follows Cal HC decision over ITAT SB ruling; Deletes Sec 40(a)(ia) disallowance 

Amendment to Sec 40(a)(ia) extending time limit for deposit of TDS, retrospective in nature; Pre 2010, Sec 40(a)(ia) disallowance not

Apr 17,2012

HC: Full bench - HUF not a fictional entity, entitled to self-occupied property benefit like individuals 

Relief u/s 23(2) providing annual value of house property as ‘nil’ available to HUF; Relief not available only to imaginary

Apr 17,2012

HC: Court approved business transfer taxable as 'slump sale' 

Transfer of undertaking under High Court sanctioned Scheme of Arrangement amounts to 'slump sale' u/s 50B; Use of the word

Apr 16,2012

HC: Interest expense relief to Reliance Communications Infrastructure applying commercial expediency test

HC deletes interest disallowance attributable to investments in Reliance Infocomm and for advances to RIL; Interest expense on borrowed funds used for

Apr 12,2012

ITAT: Software license charges not taxable as royalty; Pune ITAT follows Delhi HC not Kar. HC 

License charges for transfer of ‘user right’ in software to Indian Group companies not taxable as ‘royalty’; Receipt in the

Apr 09,2012

AAR: AAR denies capital gains benefit to Mauritius entity on share buy-back, terms it 'tax avoidance' 

Share buy-back a scheme for avoidance of Dividend Distribution Tax; Capital gains exemption under India-Mauritius DTAA for share buy-back not

Apr 04,2012