Whether capital reduction can be construed to be ‘transfer’ ?
Supreme Court (‘SC’) in the case of Jupiter Capital Pvt Ltd[1] (‘Assessee’) has held that the...
Whether section 56(2)(x) of the IT Act apply on ‘Interest in partnership firm’ ?
Recently Bengaluru bench of Income Tax Appellate Tribunal (‘the ITAT’) in case of Buckeye Trust (‘Taxpayer’)...
Transfer pricing adjustment on genuine business expenditure ?
Recently, the Income Tax Appellate Tribunal (ITAT) Mumbai has ruled in favor of Otis Elevator Company...
Exemption u/s 54F for only a residential property
Assessee[1] is an individual and has inherited a property after the demise of her husband in...
Interest on perpetual debenture, an allowable expenditure?
Mumbai ITAT in case of TMF Holdings Ltd (‘Assessee’)[1], has held that the interest paid on...
SC denied deduction claimed in revised return filed beyond due date
In the recent Supreme Court judgement, in the case of Shriram Investments1 (‘the Assessee’) it was...
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...
Off market sale of securities tantamount to colorable device
Recently, Mumbai ITAT has held that long term capital loss (‘LTCL’) from off market sale...
Mumbai ITAT rules that NCD premium taxable as ‘interest’, not as ‘capital gains’
Mumbai ITAT holds that differential amount between maturity proceeds on redemption of non-convertible debentures (NCDs) and...
Set off of short term capital loss against gains taxable at different rates allowable
Mumbai ITAT in case of JS Capital LLC [TS-165-ITAT-2024(Mum)] in its order dated March 7, 2024...