Home Highlights July 2013 Year 2013 This

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1. Clubbing of income - Assessment of capital gain of the minors in the hands of the assessee - The word “any such income” as appears in Section 64(1A) includes capital...

2. Eligibility for deduction u/s 54F - Clubbing of income of the minor children in the hands of the assessee - before arriving at net income for the purpose of clubbing in...

3. Clubbing of minor's Income to parents income - If this income were to be taxed only after the 2nd respondent attains majority, the financial burden on the 2nd petitioner...

4. Demand u/s 201(1) with interest u/s 201(1A) - non deduction of TDS on the interest paid to HUDCO - minor delay in submitting the declaration that the payee (HUDCO) has...

5. Addition of foreign dividend income belonging to two trusts - irrevocable trust created for the benefit of children - before proceeding to club the dividend income...

6. Taxability of minor u/s 64(1)- both the parent had died - foundational error in the order of the Tribunal is leaving the income of the Minor untaxed altogether, the...

7. Clubbing of income of a daughter at the hands of her father - property of M/s. Parbati Engineering Works belongs to his wife or minor daughter, income of such property...

8. Deduction u/s 54F - Clubbing of exempt long term capital gain income of minor children - to find out whether there is any profit or gain chargeable to tax u/s 45(1), the...

9. Exemption u/s.54EC - REC Bonds - father has invested in shares in the name of two minor children - the computation has to be worked out in the hands of the minor and...

10. Unexplained bank deposits - dispute between the parties that the bank account herein belongs to assessee’s son - He could hardly have rebut the clinching fact that the...

11. Penalty u/s 271(1)(b) imposed on minor - The tribunal upheld the appellant's argument regarding being a minor, stating that penalty proceedings initiated against a minor...

12. Minor / Minority and capacity to contract – An analysis – Article

13. Disallowance u/s 40(a)(ia) r.w.s 194A - Non deduction of TDS - assessee had paid interest to minor and unregistered firms who were not members of the assessee. This is...

14. Interest paid on late payment of TDS - allowable deduction u/s 37(1) or not? - Interest on delayed payment of TDS cannot be allowed as deduction. - The interest...

15. Minor delay in filing the declaration u/s 206C(1A) would not defeat the very purpose of declaration - Addition made u/s 206C(1)deleted