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Searching Content indexed under Income Tax by Khaitan & Co ordered by Published Date Descending.
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1
Tribunal Rules On ‘Beneficial Ownership' Of Interest Income Under The India-Cyprus Tax Treaty
This case deals with a Cyprus taxpayer which was earning interest income from India.
India
4 Oct 2019
2
Hitachi's Liaison Office Constitutes Its Taxable Presence In India, Rules Tribunal
Recently, the Delhi Bench of the Income Tax Appellate Tribunal held that the Liaison Office of Hitachi Technologies Singapore Pte Limited constituted a Permanent Establishment of Hitachi in India for the financial years 2001-02 to 2006-07.
India
4 Oct 2019
3
Indian Tax Office Going Digital – Tax Assessments To Be Faceless
In furtherance of its widely promoted objective of ensuring efficiency and transparency in tax administration, the Government has notified the much-awaited E-assessment Scheme, 2019 vide Notification No. 61/2019 ...
India
1 Oct 2019
4
Tax Tribunal Allows MAT Credit Upto The Appointed Date To The Demerged Company
In a recent case, The Deputy Commissioner of Income-tax v TCS E-Serve International Limited dated 28 August 2019, the Mumbai Bench of the Income Tax Appellate Tribunal has allowed a demerged company to ...
India
20 Sep 2019
5
AAR Rules On Capital Gains Taxability In The Hands Of Shareholders Upon The Conversion Of A Company To An LLP
In the recent case of Domino Printing Science Plc., In Re (AAR 1290 of 2012 decided on 23 August 2019), the Authority for Advance Rulings, ruled that shareholders of a company are liable to capital gains tax ...
India
19 Sep 2019
6
Prosecution Proceedings To Be Resorted To Sparingly And Relaxation In Compounding Guidelines
In line with the recent assurances from the Finance Minister of India regarding ending the tax harassment, the CBDT which is the apex body for administration of direct tax in India, has issued 2 circulars.
India
19 Sep 2019
7
Monetary Thresholds For Filing Of Appeals By The Income-Tax Department Further Enhanced
This is in furtherance to our Ergo Updates dated 23 July 2018 and 28 August 2018, on monetary limits for filing of appeal by the Income-tax department (Department).
India
21 Aug 2019
8
TDS On Cash Withdrawal – Tax Deducted But Not On "Income"- A Legal Conundrum
With an aim to discourage cash transactions and move towards a cashless economy, the first budget of Modi Government 2.0 has proposed to levy TDS @ 2% on cash payments in excess of Rs. 1 CR in aggregate ...
India
8 Aug 2019
9
Union Budget 2019-20
The budget proposes a dispute resolution-cum-amnesty scheme titled ‘The Sabka Vishwas Legacy Dispute Resolution Scheme, 2019' for faster settlement of litigation pending inter alia under the erstwhile Central Excise and Service Tax regime.
India
10 Jul 2019
10
Indian Budget 2019 | Direct Tax Proposals
The tax rates and income slabs under the Income-tax Act, 1961 (IT Act) remain the same, other than the following proposed changes
India
10 Jul 2019
11
High Court Of Orissa Allows Input Tax Credit On Goods And Services Used For Construction Of Immovable Property
The Hon'ble High Court of Orissa, vide its order dated 17 April 2019, in in Safari Retreats Private Limited v Chief Commissioner of Central Goods & Service Tax [W.P. (C) 20463 of 2018], has allowed availment of ITC...
India
31 May 2019
12
‘Management Fees' Constitutes ‘Business Income' In The Absence Of Specific FTS Provision In The Relevant Tax Treaty
The Bengaluru bench of the Income-tax Appellate Tribunal vide order dated 28 February 2019, held that consideration received by non-resident entity from an Indian company for performing management services ...
India
8 Apr 2019
13
Tax Tribunal Upholds Tax ‘Pass Through' Status Of A Venture Capital Fund
In M/s HDFC Property Fund v Income Tax Officer, the Mumbai bench of the Income Tax Appellate Tribunal has, through an order dated 28 February 2019, ruled in favour of the taxpayer, a SEBI registered Venture Capital Fund ...
India
13 Mar 2019
15
Tax Tribunal Holds That Section 56 Would Not Apply In The Absence Of Any Disproportionate Allotment Of Shares To Existing Shareholders
Thereafter, the Assessing Officer filed an appeal before the second level appellate authority.
India
27 Dec 2018
16
Tax Tribunal Allows Shareholder's Claim For ‘Capital Loss' In Capital Reduction
The Bangalore bench of the Income Tax Appellate Tribunal in a recent case of M/s Jupiter Capital Pvt. Ltd. v The Assistant commissioner of Income Tax (ITAT order dated 29 November 2018) has allowed the claim for capital loss ...
India
18 Dec 2018
17
AIF Gift To The Gift City
India has witnessed an unprecedented growth in the domain of investment funds, at a global level.
India
13 Dec 2018
18
Profit On Transfer Of Shares Acquired Under Stock Option Plan Taxable As ‘Capital Gain' Not ‘Salary'
The Chennai Bench of the Income Tax Appellate Tribunal in a recent ruling in Dr. Muthian Sivathanu v Assistant Commissioner of Income-tax [ITA No. 553/2018] held that proceeds received on sale of shares ...
India
12 Dec 2018
19
Tax Tribunal Views Transactions Inter SE Group Entities As Sham, Disallows Set-Off Of Resulting Capital Loss
The Income Tax Appellate Tribunal, Delhi in the case of Deputy Commissioner of Income Tax v M/s BS Infosolution Private Limited (ITAT Order dated 23 August 2018) rejected the taxpayer's claim ...
India
18 Sep 2018
20
Additional Exceptions To Revised Monetary Threshold (Tax Effect) For Filing Of Appeal By The Income-Tax Department
For the cases covered in Para 10, even if the tax effect of an appeal is lower than the revised monetary threshold, the Tax Department can still contest the issue on merits before the higher appellate authorities.
India
3 Sep 2018
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