Income Tax

The recent Delhi Tribunal judgment in the matter of Young Indian[1] is the second in the series for Young Indian (for brevity ‘YI’). The first was the cancellation of registration under Section 12AA of Income Tax Act, 1961 (for brevity ‘ITA’). The article on that particular judgment is available at

Introduction Issue of notice under Section 148 of Income Tax Act, 1961 (for brevity ‘ITA’) after 31.03.2021 under old provisions has created lot of litigation at various High Courts and currently, the Supreme Court has reserved its judgment on such controversy. For detailed analysis of issue of notice under section

The recent judgment of Honourable Mumbai Tribunal in the matter of Balaji Trust[1] is a quite interesting and special one. In this article, we shall deal with the pivotal issue of the entire matter, the taxation of transfer of brand ‘Essar’ by Essar Investments Limited (for brevity ‘EIL’) to the

The taxation of services provided in situations where two or more people come together to do a business is always a tricky one, both for the tax authorities and the assessee. The revenue intends that there was a provision of service by constituent member to the joint venture and there

In this article, we shall discuss various issues under section 50 of Income Tax Act, 1961 (‘ITA’) which deals with computation of gain arising from the transfer of depreciable capital asset. Introduction: Section 50 of ITA states that when there is a transfer of capital asset which forms part of

In our previous articles[1], the concept of deemed residency and various aspects of residency under Section 6 has been discussed in detail. In this part, the concept of determination of residential status of a crew member of a ship or aircraft along with taxability of such person has been dealt

In our previous article[1], the concept of deemed residency under Section 6 of ITA[2] has been discussed in detail. In this part, various issues related to determination of residential status of an individual are aimed for discussion. As per Section 6(1) of ITA an individual shall be treated as resident:

One of the mysteries of the 21st Century is the taxation of rental income under the IT Act[1]. The classification of such rental income is quite challenging and garnering a unanimous view among tax practitioners itself is impossible, forget about the authorities and courts. In this article, we try to

The concept of draft assessment order and final assessment order is an interesting concept to study under the Transfer Pricing (for brevity ‘TP’) Regulations. Under the old provisions of the Income Tax Act, 1961 (for brevity ‘ITA’), the concept of passing of draft assessment order was limited to transfer pricing

Claiming of a deduction in respect of expenditure which are covered under Section 43B is always a discussion point at various appellate fora. Section 43B was introduced into the Income Tax Act, 1961 (for brevity ‘ITA’) through the Finance Act, 1983, making it effective from April 01, 1984. The primary