GAAR V/S SAAR In Bonus-Stripping Transaction Adopted By Ayodhya Rami Reddy Alla: Supreme Court Admits SLP, Hearing To Be In Sept.
The Supreme Court has admitted the Special Leave Petition (SLP) filed by Ayodhya Rami Reddy Alla against the judgement passed by the Telangana High...
Remittance Made By Assessee To Foreign Subsidiary Companies Is Not Taxable In India: ITAT
The Income Tax Appellate Tribunal, New Delhi, held that the remittance made by the assessee to the foreign subsidiary companies is not taxable in...
Determination of Commission @ 2.5% on Value Which was Transferred by Book Entry is Justified: ITAT
The Income Tax Appellate Tribunal ruled that the determination of commission @ 2.5% on the value of Rs.15.38 crores which was transferred by book...
Income Tax Act Gives Powers To Valuation Officer To Get Details From Assessee In Order To Ascertain Value Of Property: ITAT
The Income Tax Appellate Tribunal, Bangalore, Income Tax Act gives powers to the valuation officer to get details from the assessee in order to...
Software License Expenditure To Be Revenue In Nature: ITAT
The Income Tax Appellate Tribunal Mumbai ruled that the software license expenditure on similar products to be revenue in nature.The tribunal noted that during...
Amount Of Hardship Allowance Received By The Assessee Is Not Income Of The Assessee: ITAT
The Income Tax Appellate Tribunal, Mumbai, ruled that the amount of hardship allowance received by the assessee is not income of the assessee.The bench...
Gift From Brother Not Chargeable To Tax In Hands Of Assessee Being Relative: ITAT
The Income Tax Appellate Tribunal, Mumbai, ruled that the gift from a brother is not chargeable to tax in the hands of the assessee...
Top Income Tax Deductions Every Freelancer Should Know
Author: Khushi J PrajapatiWhile freelancing provides the freedom and autonomy to work at your own pace, one of its downsides is the commitment of...
Top 10 Investments To Avail Income Tax Exemptions
Author: Khushi J PrajapatiIn the Indian context, personal with taxable income can always invest in any of the numerous options that offer tax exemptions...
Compensation Received On Account Of Diminution In ESOP Value Is Taxable As Perquisite And Not Capital Gains: Madras High Court
The Madras High Court ruled that the compensation received on account of diminution in ESOP value is taxable as perquisite and not capital gains. The...
PMLA | Supreme Court Grants Bail To Accused In Money Laundering Case Linked To Illegal Sand Mining
The Supreme Court has granted the bail to the accused in a money laundering case linked to illegal sand mining.The court observed that there...
Liquidator Should Be Issued Notice And Made To Participate In Income Tax Reassessment Proceedings: Patna High Court
Recently, Patna High Court has ruled that the Liquidator should be noticed and participate in the income tax reassessment proceedings.The court has quashed the...
Income Tax Reassessment Based On Mechanical Approval By PCIT: Delhi High Court Quashes Proceedings
The Delhi High Court held that Income Tax reassessment was based on mechanical approval by PCIT.The court observed that the prescribed authority must be...
Failure To Electronically Upload Form 10CCB Along With ROI Not A Valid Ground For Income Tax Reassessment: Delhi High Court
The Delhi High Court ruled that failure to electronically upload form 10ccb along with ROI not a valid ground for income tax reassessment.The court...
Delhi High Court Deletes Income Tax Addition On Perquisite Value Of Shares Granted Under Employees Stock Purchase Scheme
The Delhi High Court deleted the Income Tax addition on perquisite value of shares granted under employees stock purchase scheme.The bench opined that in...
Value Adopted By Stamp Valuation Authority On Date Of Agreement To Be Taken For Computing Full Value Of Consideration Of Transfer U/s 50-C Of...
Author: Khushi J PrajapatiIn a recent ruling, the Karnataka High Court has determined that in order to assess the total amount for consideration as...
Flipkart Employee Retains ESOPs Even After Receipt Of Compensation, Receipt To Be Taxed As Salary: Madras High Court
The Madras High Court has held that the Flipkart employee retains employee stock ownership plan (ESOP) even after receipt of compensation, receipt to be...
TDS Collected From Deceased Accident Victim: Andhra Pradesh High Court Grants Liberty To Insurance Company To Object Income
The Andhra Pradesh High Court granted liberty to the insurance company to object the income. The bench noted that as the scope of the appeal...
15% Dividend Distribution Tax Payable By Company Which Declared, Distributed Or Paid Dividend: Delhi High Court
The Delhi High Court ruled that the Dividend Distribution Tax (DDT) is payable by a company which declared, distributed or paid a dividend.The court...
ITAT Chennai Allows Income Tax Deduction U/s 54F On Construction Of New Residential Unit
The Income Tax Appellate Tribunal, Chennai, allowed the Income Tax deduction U/s 54F on construction of new residential unit.The tribunal noted that during the...
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