Income Tax Case Laws

Background of the case In a recent ruling, the Ahmedabad Income Tax Appellate Tribunal, (hereinafter referred to as “the Tribunal” or “ITAT”), in the case of Sun Pharma Laboratories Limited (“the Assessee” or “the Company”), adjudicated upon the allowability of a short-term capital loss arising from the transfer of a partnership interest in a limited […]

Background of the case In a recent ruling, the Delhi Income Tax Appellate Tribunal, (hereinafter referred to as “the Tribunal” or “ITAT”), in the case of Seaview Developers Private Limited (“the Assessee”), considered the question of whether a scheme of capital reduction under the Companies Act, 1956, approved by the Hon’ble Bombay High Court, could […]

Background of the case In a recent ruling, the Chennai Tribunal (hereinafter referred to as “the Tribunal” or “ITAT”) in the case of Valeo Bayen (“the Assessee”) examined the scope and application of Section 47(iv) of the Income-tax Act, 1961 (“the Act”) in the context of an intra-group share transfer by the Assessee to its […]