Home Highlights May 2013 Year 2013 This

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1. Correct head of income - compensation received for vacating the flat - While the assessee argued for capital gain treatment, the Revenue contended it should be...

2. Addition u/s 56(2)(viia) - taking fair market value of buy back of shares by assessee from its holding company a company incorporated in USA - the provisions of section...

3. Correct head of income - Business Income or capital gain - assessee decided to sale the agriculture land, due to compulsion, hence assessee cannot be treated as a trader...

4. Nature of income - Income from other sources - interest income received u/s. 28 of Land Acquisition Act, 1984 as taxable u/s 56(2)(viii) r.w.s. 145A(b) - Scope of...

5. Reopening of assessment u/s 147 - Conversion of company into LLP - notice in hands of Successor company, i.e. in the hands of assessee LLP - On carefully considering the...

6. DTAA between US & India - Royalty or sale of copyrighted articles / softwares - though the amount constitute royalty, but the same is not assessable in the hands of the...

7. TDS credit treated as income of the assessee - Nature of income - essentially the TDS credit now claimed by the assessee is in the nature of an additional income over...

8. Disallowance of advances written off - the parent company has not reimbursed the amount only on account of change of policy of the parent company. - the assessee has...

9. Assessment order passed on an non- existent entity - Fact of amalgamation was not disclosed in the business/organization column and the assessment order indicated the...

10. Where the assessee had received the alleged subvention amount or the subsidy as referred to by the Assessing Officer / TPO / DRP, the amount received by assessee from...

11. Disallowance u/s. 2(22)(e) - assessee has received unsecured loan and assessee company from whom it has obtained unsecured loan there were two common directors - Since...

12. Addition u/s 68 - assessee company, during the year under consideration, unsecured loan had been taken by the company from The Director of the company - Since the amount...

13. Assessment against non existent company [company merged] - assessment in the hands of the successor - Whatever action has done in the past by their share applicants...

14. Representative assessee u/s 160 or u/s 161 - In the present case, the assessing officer has passed an order in the name of the assessee without specifying that the above...

15. Double taxation of income in the hands of BCCI and Assessee, as the member of AOP - it will be open to the AO of the appellant to reopen the case of the appellant and to...