Direct Tax
Income Tax Settlement Commission Abolished; Retrospective Legislation Can’t Affect Vested Rights Taxpayer, Says Calcutta High Court
The Calcutta High Court has held that retrospective legislation cannot affect vested rights taxpayers.The bench of Justice Harish Tandon and Justice Hiranmay Bhattacharyya has...
Not Possible To Deduct TDS On Discount/Commission Offered To Newspaper Distributors : ITAT
The Delhi bench of Income Tax Appellate Tribunal (ITAT) has held that it is not possible to deduct TDS on discount/commission offered to newspaper...
Delhi High Court Deletes Addition Worth Rs. 247 Crores On Account Of Disallowance Of Long Term Capital Gains Exemption
The Delhi High Court has upheld the decision of Income Tax Appellate Tribunal (ITAT) in deleting the addition worth Rs. 247 crores on account...
Interest On Funds Deposited In Short-Term Fixed Deposit Can Be Construed As Incidental To Acquisition Of Coal Mine : Delhi High Court
The Delhi High Court has held that interest on funds deposited in short-term fixed deposits can be construed as incidental to acquisition of coal...
Income Tax Weekly Flashback: 16 December 2024 to 22 December 2024
Income Tax Weekly Flashback for the period 16 December 2024 to 22 December 2024.Table of Contents - Income Tax Weekly FlashbackDelhi High CourtDelhi High...
BREAKING | Bombay High Court Directs CBDT To Extend ITR E-Filing Deadline
The Bombay High Court has directed the Central Board of Direct Taxes (CBDT) to issue requisite notification under Section 119 of the Income Tax...
Liaison Office Of Western Union In India Doesn’t Constitute PE As Per India-US DTAA, Rules Delhi High Court
The Delhi High Court has held that the liaison office of Western Union in India does not constitute Permanent Establishment (PE) as per India-US...
Vessel Hire Charges Not Royalty Under India-Singapore DTAA: ITAT
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that vessel hire charges not royalty under India-Singapore Double Tax Avoidance Agreement (DTAA).The...