Benefit under Treaty cannot be withheld without invocation of GAAR or evidence of impermissible avoidance arrangement where TRC is available
Karnataka HC holds that waiver of loan shall not be taxable as benefit or perquisite under pre-amendment section 28(iv) irrespective of nature of loan
NEW PROTOCOL ENTERED BY INDIA AND MAURITIUS FOR INTRODUCTION OF PRINCIPAL PURPOSE TEST AND AMENDMENT OF PREAMBLE IN TAX TREATY
Mumbai ITAT holds that date of transfer shall be reckoned on the date when shares are delivered and not from SPA execution date for Capital gains purpose
Capital loss pursuant to capital reduction is allowable to shareholders even if no consideration is received by the shareholders
Waiver of loan not used for acquisition fixed assets to be subject to tax under section 28(iv) since the benefit was not in nature of cash or money
ITAT clarifies that provisions of section 56(2)(x) and Rule 11UA would be inapplicable if company buys back its own shares under the buy back scheme
Delhi HC uphelds overriding effect of IBC on claims raised by tax department for period prior to approval of resolution plan
Chennai ITAT rules Cognizant’s Rs. 19,000 Crore buyback through scheme of arrangement to attract DDT
Successor entitled to claim depreciation on actual cost of assets being consideration actually paid to predecessor after revaluation of assets
ITAT clarifies on scope of the term ‘shares’ in the context of India-Mauritius DTAA, holds that having TRC is sufficient for claiming treaty benefits
Bombay HC allows benefit of Article 13(4) of India Singapore DTAA on capital gains and rejects Revenue’s contention on application of Article 24 (Limitation of Relief)
ITAT allows long term capital loss on intra group share transfer claimed through revised return
Section 56(2)(viia) would prevail over section 47(vi) for shares transferred on account of amalgamation