Home Highlights March 2013 Year 2013 This

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1. TDS u/s 195 - DTAA with Uganda - professional services - the services received by the assessee from these three persons is covered by article 14 and therefore, the same...

2. Treaty benefits - ‘gains from alienation of shares' - taxability or otherwise of capital gain from sale of equity shares under Article 13(4) of India-Mauritius DTAA -...

3. Short term capital gain - sale of units of mutual funds - Article 13(4)/13(5) of DTAA of India-UAE - the gains arising from transfer of units of mutual funds should not...

4. The gain derived from sale of painting in the assessment year 2007–08 is not taxable as it is personal effect as defined u/s 2(14) - However, insofar as assessment year...

5. This case deals with the accrual of income in India from exploration activities and the determination of whether the assessee has a Permanent Establishment (PE) in India...

6. Detention of motor vehicle - RANGE ROVER motor vehicle transported from Coimbatore to Thiruvananthapuram as 'used personal effect' of the 2nd respondent - detention on...

7. Capital assets vs personal effects - antique or decorative items and collectors items, cannot be classified as personal effects - AT

8. Tax collected at source (TCS) u/s 206C on sale of scrap - Revenue treated assessee as "defaulter" for non-collection of TCS u/s 206C. Held: Sale categorized into three...

9. Cash credit u/s 68 r.w.s. 115BBE - cash deposit during demonetization period - assessee's failure to maintain books of accounts u/s 44AD. Held that where exemption from...

10. Slump Sale - Article

11. Taxability of capital gain arising on sale of shares under the treaty provisions - AO and DRP have rejected assessee’s claim by holding that assessee being a mere paper...

12. Whether sale of assessee’s OHB to Colgate Palmolive is a slump sale as contended by the assessee or an itemized sale as contended by the Revenue – Held as slump sale - AT

13. Maintainability of appeal - ITAT dismissed the appeal on the ground of low tax effect being less than 10 lakhs - Board Circular No.21/2015 - Determination of tax effect...

14. Validity of reopening of assessment - Re-opening notice u/s 148A(d) - personal hearing refused - the High court concluded that Section 148A(b) does not mandate a...

15. Constitutional validity of levy of basic excise duty and NCCD, after coming into force of the Constitution (101st Amendment) Act, with effect from 01.07.2017 -...