Editor's Pick

ITAT: Post 2002, non compete fee pursuant to business transfer taxable as 'capital gains'

Post 2002, non-compete fee received in pursuance to transfer of business taxable as ‘capital gains’ and not as ‘business income’;

Jan 05,2012

ITAT: Interest on loan for acquiring overseas investment deductible  

No disallowance attracted for interest on borrowings made for acquiring shares in Malaysian company alongwith controlling interest; Under IT Act,

Jan 04,2012

ITAT: Income received by Warner Bros for granting film distribution rights not ‘Royalty’ 

Consideration received by non-resident assessee from Indian company, for granting exclusive rights of distribution of cinematographic films, not

Jan 03,2012

ITAT: Land development agreement allowing possession & control results in taxable transfer

Capital gains on transfer of property under development agreement taxable in the year of transfer of possession and

Dec 28,2011

HC: Delhi HC confirms ITAT Special bench ruling in Ericsson

Equipment supply not taxable in India where property and risks passed outside India; mere signing of agreements in

Dec 26,2011

AAR: AAR rejects payer's application, when issue pending in payee's proceedings

Nuclear Power Corporation’s application for ruling on taxability of payment to non-resident  not maintainable, when proceedings pending against

Dec 23,2011

HC: Foreign currency expenses to be excluded from turnover for Sec 80HHE deduction; Infy engaged in providing technical services

Foreign currency expenses to be excluded from turnover in computing Sec 80HHE deduction; Infosys engaged in providing technical

Dec 21,2011

HC: Cost allocation for Sec 10A unit based on employee head-count upheld

IT Department not to reject cost allocation method which is reasonable and followed consistently, unless any defects are

Dec 20,2011

HC: Actual use of asset by lessee not relevant for lessor's depreciation claim

Actual date on which asset was put to use by lessee, not relevant for lessor’s claim for depreciation

Dec 14,2011

ITAT: No depreciation on BSE membership card post demutualization & corporatization 

No depreciation on ‘BSE membership card’, since rights as cardholder extinguished, post demutualization and corporatization of BSE; Depreciation

Dec 13,2011