Interest on perpetual debenture, an allowable expenditure?
Mumbai ITAT in case of TMF Holdings Ltd (‘Assessee’)[1], has held that the interest paid on...
Whether the treatment of capital reserve arising out of merger is benefit?
ITAT Mumbai in the case of Samagra Wealthmax Private Limited[1] holds that capital reserve arising on...
Can a tax officer exercise its power beyond statutory limitations?
Recently, the Income Tax Appellate Tribunal, Bangalore bench (‘ITAT’) passed on order dated October 8, 2024...
Computation of maximum marginal tax rate applicable to private discretionary trust
In the recent order by Hon’ble Income Tax Appellate Tribunal, Mumbai bench (‘the ITAT’), it was...
SC: tax treatment of guarantee fees is not akin to interest
On 4th October 2024, the Hon’ble Supreme Court of India dismissed a Special Leave Petition (‘SLP’)...
Refund of stamp duty granted in case of delayed application
Recently Bombay High Court1 in its judgement held that application for refund of stamp duty can...
Off market sale of securities tantamount to colorable device
Recently, Mumbai ITAT has held that long term capital loss (‘LTCL’) from off market sale...
Tax treatment for Guarantee fees income is not akin to Interest income
In the present case, Johnson Matthey Public Limited Company1 (the Assessee), is a tax resident of...
HDFC and HDFC Bank merger, unlocking a financial services giants
HDFC Investments Limited (“HIL” or “the Transferor Company 1”) was incorporated on December 20, 1994 as...
Merger to create large scale IT Company
Larsen & Toubro Infotech Limited (“LTl” or the Transferee Company”) was incorporated on December 23, 1996...