Searching Content indexed under Income Tax by Khaitan & Co ordered by Published Date Descending.
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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 ...
8 Aug 2019
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.
10 Jul 2019
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
10 Jul 2019
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...
31 May 2019
‘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 ...
8 Apr 2019
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 ...
13 Mar 2019
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.
27 Dec 2018
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 ...
18 Dec 2018
AIF Gift To The Gift City
India has witnessed an unprecedented growth in the domain of investment funds, at a global level.
13 Dec 2018
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 ...
12 Dec 2018
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 ...
18 Sep 2018
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.
3 Sep 2018
Monetary Thresholds For Filing Of Appeals By The Income-Tax Department Enhanced
In a move that is intended to enhance the ease of doing business, reduce low value litigations, and also help the Income-tax department focus on high value litigations, on 11 July 2018...
24 Jul 2018
Jolt To Offshore Hotel Operators: Hotel Is Operator's Indian Taxable Presence
The Authority for Advance Rulings (AAR) recently ruled that the hotel property in India operated and managed by the applicant, FRS Hotel Group (Lux) S.a.r.l. (now FRHI Hotels & Resorts S.A.R.L) (Taxpayer) ...
10 Jul 2018
Tax Tribunal Rules On Taxability Of Reimbursement Of Warranty Expenses On Export Sales
Recently, the Chennai Bench of the Income Tax Appellate Tribunal in the case of M/s Nissan Motor India Pvt Ltd vs DCIT, ruled in favour of the taxpayer and held that payment to offshore sister concerns, ...
9 Apr 2018
Internal Group Restructuring Gets An Impetus: ITAT Upholds Tax Neutral Transfer Of Capital Assets From A Company To Its Second Step Down Indian Subsidiary
The Income Tax Appellate Tribunal , in the case of Emami Infrastructure Limited v ITO Ward 12 (1) Kolkata, has upheld the capital gains tax exemption to a company arising on transfer of capital assets...
19 Mar 2018
Credits And Creditors In Focus: How To Effectively Resolve Tax Investigations?
The last few years have witnessed increased scrutiny by the tax department of credits in the books of accounts of the taxpayers and the source of such credits.
16 Mar 2018
Income-Tax Issues In Buying A Business In India
A jump of 30 ranks (from 130th to 100th) to make an entry into the top 100 in the World Bank's Ease of Doing Business index in its Doing Business Report 2018 clearly shows the results of the legislative improvements ...
6 Feb 2018
Deal-Makers Expectations From Budget 2018
Indian Budget has always been a mixed bag of surprises for all the stakeholders – jolts and jerks for some and relief for some.
29 Jan 2018
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