Corporate Law : Supreme Court clarifies power to modify arbitral awards under Section 34 in Gayatri Balaswamy case, raising questions on finality,...
Income Tax : Learn about disallowed expenses under PGBP in India's Income Tax Act. Understand key sections like 37, 40, and 40A, and their impa...
Income Tax : Delhi HC rules reimbursements to NRAEs not subject to TDS as "fees for technical services," clarifying scope of Section 9(1)(vii) ...
Income Tax : Understand the impact of Section 43B(h) on businesses: Learn about deductions for MSME payments and the importance of timely payme...
Corporate Law : Discover the process and types of trademark assignment. Learn about procedures, required documents, and benefits for a smooth tran...
Corporate Law : Explore the proposed amendments to Regulations 35, 37, and 50 of the Competition Commission of India (General) Regulations 2009. L...
Income Tax : Allowability of Interest paid under Incometax Act, 1961: Presently, interest paid by the Government to an assessee is chargeable t...
Income Tax : Interest income earned by a foreign bank from foreign currency loans extended to Indian corporates was taxable on a gross basis. S...
Income Tax : The Gujarat High Court held that a scientifically determined warranty provision qualified for consideration under settled legal pr...
Income Tax : ITAT held that increased employee remuneration cannot be disallowed merely because business revenue declined where the expenditure...
Income Tax : ITAT held Section 43CA did not apply as the flats were booked before the provision became effective, deleting the addition based o...
Income Tax : The ITAT Ahmedabad held that royalty payments should continue to be benchmarked under TNMM by following earlier decisions in the a...
Delhi ITAT held that share premium received by a subsidiary from its holding company could not be taxed under Section 56(2)(viib). The ruling emphasizes that the anti-abuse provision cannot be extended to genuine intra-group capital infusions.
The ITAT held that compensation paid to terminate a land sale agreement was a business expenditure incurred for commercial reasons. The amount could not be treated as part of closing stock and was allowable under Section 37.
The ITAT Kolkata held that cash payments made through agents for procuring paddy from farmers were covered by Rule 6DD exceptions. Consequently, the disallowance under Section 40A(3) was deleted.
The Delhi High Court held that expenditure on gifts, boarding, and lodging incurred for a General Body Meeting was allowable under Section 37. The Court ruled that expenses incurred to fulfill statutory obligations constitute business expenditure.
The Tribunal held that once a Section 35D claim was accepted in earlier years, it could not be disallowed in the final amortization year without disturbing the original allowance. The disallowance of preliminary expenses was therefore delete
The Tribunal held that the Assessing Officer could not validly refer the valuation issue to the DVO for Assessment Year 2012-13. Since the statutory conditions were not met, the long-term capital gains addition was deleted.
The Tribunal held that a land sale completed before 01.07.2012 could not be subjected to a DVO reference under the amended Section 55A. Since the valuation reference was invalid, the long-term capital gains addition was deleted.
ITAT Delhi held that CSR-related donations can qualify for deduction under Section 80G when made to institutions approved under that provision. The Tribunal directed verification of eligibility and allowed the claim for statistical purposes.
ITAT Delhi held that deduction under Section 80G cannot be denied merely because donations were made as part of CSR obligations. The Tribunal ruled that contributions to eligible institutions remain deductible when statutory conditions are satisfied.
The ITAT Bangalore held that a deduction under Section 80G cannot be denied solely because the payment formed part of CSR expenditure. The Tribunal observed that denying the claim after CSR disallowance under Section 37(1) could result in double disallowance and remanded the matter for verification.
