Home Highlights July 2012 Year 2012 This

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1. Supply of Services - activity of holding of shares of subsidiary company by holding company - During the proceedings, the Central and State Governments issued...

2. TDS u/s 194A - TDS on deemed dividend - loan advanced by the assessee company to the other group companies - Even if, the appellant company hold 100% shares in these...

3. Entitled for exemption u/s 47(v) with respect to the transfer of land - Holding company - determination of 100% subsidiary company where 25 shares held by 6 nominees -...

4. Transfer of ESOP/ESPP/RSU by foreign holding company to employees of domestic subsidiary company does not attract GST where no additional fee, markup or commission is...

5. Subvention payment - amount received from parent company - If the financial assistance is extended to run business more profitably or to meet recurring expenses, such...

6. The circular addresses the taxability of ESOP/ESPP/RSU provided by a company to its employees through its overseas holding company. It clarifies that the transfer of...

7. Accrual of income - Money received under Marketing Assistance Programme [“MAP”] - It is also surprising that the AO chose to treat only the difference between the...

8. Gain/loss on sale of shares - legal nature of the transaction - As per companies Act shareholder and company both are two separate legal person capable of holding...

9. Eligibility of relief u/s 89 r.w. Rule 21A of I.T. Rules - Amount to be spread over the years including future years - compensation received by the assessee as only...

10. Where the assessee had received the alleged subvention amount or the subsidy as referred to by the Assessing Officer / TPO / DRP, the amount received by assessee from...

11. Capital gain - transfer of a capital asset by assessee to its subsidiary company - There are different shareholders of preference share capital other than the holding...

12. Capital gain or salary received - Recognizing the compensation received by the assessee as the share holding of the company - the amount received quivalent to the...

13. Addition u/s 68 - Onus to prove - The theory of conduit company is not acceptable as, for being a conduit company, the assessee is duty bound to establish that the...

14. The case deals with the levy of service tax on 'indent commission' received by an Indian company from its overseas holding company for providing business auxiliary...

15. Computation of Capital Gains - Exclusion of the portion of the sale consideration that was never received - The High court found that the real income (capital gains)...