Home Highlights April 2016 Year 2016 This

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1. Taxability in the hands of partners v/s firm - transfer of capital asset by firm to partners - There is no merit in the arguments advanced by assessee, that transfer of...

2. The Appellate Tribunal held that negative working capital adjustment cannot be made for a captive service provider. L&T Infotech Ltd. and Infosys Ltd. were excluded from...

3. Accrual of interest income in the hands of dissolved partnership firm - section 189 keeps the firm alive for the purposes of assessment despite its dissolution. It...

4. Deemed dividend u/s 2(22)(e) - one of the partners of the assessee firm was holding major share holding - Since the assessee firm was not shareholder in the lender...

5. Cash credit u/s 68 - assessee is a partner has declared income under IDS 2016 but the declaration failed as the taxes due on income declared was not paid by the firm -...

6. Determination of arm's length price (ALP) for international transactions, focusing on the selection of comparable companies. It excludes companies like Elofic Industries...

7. The assessee had made purchases from M/s. HJM Fuels Pvt. Ltd., which the Department treated as bogus and added a profit element. The assessee pointed out discrepancies...

8. Initiation of CIRP - Proxy of Corporate Debtor - two separate entities - whether any admission or communication sent by SNG Developers Ltd. can be considered as being...

9. Taxability of interest income in the hands of Partner instead of Partnership firm - Allegation that assessee did not disclosed the receipt of Interest in his return of...

10. Disallowance of tour and travel expenses - no details were forthcoming from the assessee to substantiate these travel and conveyance expenses and justify that these...

11. Liability of service tax / GST - service rendered to Haj pilgrims - Place of supply of services - As per Item (iv) of sub-clause (b) of Clause (i) of Rule 2 of the said...

12. Taxability of the remuneration received from the partnership firm and interest on capital contribution made by the partner of the firm in the absence of any business...

13. Short Term Capital Gain - conversion of the Partnership Firms into Companies - Additions in the hands of partners - CIT (Appeals) correctly deleted the additions on...

14. The appeal challenges the admission of an unstamped Assignment Agreement dated 29.03.2022 under the Maharashtra Stamp Act, 1958. The court held that the Assignment...

15. The court held that the Committee of Creditors (CoC) rightly considered and rejected the resolution plan submitted by M/s. Saverni Neutech Pvt. Ltd. and approved the...