Home Highlights May 2013 Year 2013 This

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1. Capital gains on transfer of shares - sale versus agreement to sale - selection of assessment year - Tribunal committed error in law in holding that Section 2 (47) (vi)...

2. Valuation of transfer of Goodwill- The demand raised is based on the Transfer of Business Agreement (425.25 crores) from which the value for transfer of goodwill is...

3. Nature of activity - sale or service - The appellant procured COA/stickers/labels under a Microsoft OEM Customer License Agreement, affixing them to Thin Clients...

4. Reopening of assessment u/s 147 - Reasons to believe - The ITAT thoroughly examined the reasons recorded by the AO for re-opening the assessment and found that there was...

5. Capital gain - transfer u/s 2(47) - unregistered JD agreement - appellant had not received any consideration - since an unregistered agreement involving the transfer of...

6. Capital Gain - Transfer u/s 2(47)(v) - assessment year - AO himself has given credit for the amount of capital gains declared for the assessment year 2013-14, while...

7. CIRP proceedings - illegal transfer of IPR and business by the corporate debtor - the declaration of assignment of trademarks in the name of R1 is declared null and void...

8. The High Court considered the levy of VAT on a franchise of a trademark, analyzing whether the transfer of the right to use goods constituted a deemed sale. Citing a...

9. Wealth tax assessment - ownership of the land has been transferred or not - there can be no doubt in holding that the requirements of section 53A of the Transfer of...

10. Lease Agreement - Transfer of Property - Appellant argued that the clause in the lease agreement only applies to voluntary transfers, not to mergers or amalgamations -...

11. Recovery proceedings - Attachment orders - rights over the property - seeking transfer of property in favor of purchaser - In this case admittedly the transfer was on...

12. Unaccounted sale of Gajjak, Makhane and Namkeen - rejection of books of accounts - Shortage has been equated with undisclosed sales basely solely on yield ratio. In our...

13. Branch transfers or stock transfers - The stipulations made in the declaration form ‘F’ are nothing but giving particulars of the relevant document in support of branch...

14. Re-opening of assessment u/s 147 - notice beyond period of four years - change in the opinion or a later decision on the legal aspects - The High court finds no evidence...

15. Nature on sale - Slump Sale - capital gain u/s 50B - Transfer of asset or not? - Section 50B of the Act provides a mechanism for assessment of capital gain on ‘transfer’...