Direct Tax Amicus

Direct Tax Amicus covers major changes in income tax laws. This newsletter contains an article on issue of topical interest or developing jurisprudence, notifications and circulars issued during the period and important decisions and judgments (under Ratio Decidendi) covering various facets of income tax law and procedures. It usually covers recent developments pertaining to classification of expenditure, application of transfer pricing (TP) provisions, issues around DTAAs, computation of income, exemptions, etc.

2026 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014

Direct Tax All Industries+2
Direct Tax Amicus: December 2017
ITAT Delhi has held that ‘guarantee fee’ will not qualify as interest under the India-UK DTAA or the Income Tax Act, 1961, since it can relate only to payment by a person who has received some amount pursuant to a loan transaction.
Read More 01 Dec 2017
Direct Tax All Industries+2
Direct Tax Amicus: November 2017
RFinance Act 2006 inserted Explanation 1 to Section 40(a)(ii) of the Income Tax Act clarifying that any sum payable outside India and eligible for relief of tax under Section 90 or deduction from the income tax payable under section 91 is not allowable as a deduction under section 40 of the Income Tax Act.
Read More 01 Nov 2017
Direct Tax All Industries+2
Direct Tax Amicus: October 2017
Recently, the European Court of Justice (‘ECJ’), exercising arbitration procedure under Article 273 of the Treaty on the Functioning of the European Union (‘TFEU’) interpreted the term ‘debt-claims with participation in profit’ appearing in Article 11(2) of the Austro-German Double Tax Avoidance Agreement (‘DTAA’).
Read More 01 Oct 2017
Direct Tax All Industries+2
Direct Tax Amicus: September 2017
Valuation of inventory is not supposed to give rise to any income and therefore the same should be at lower of cost or market value.
Read More 01 Sept 2017
Direct Tax All Industries+2
Direct Tax Amicus: August 2017
The Mumbai Bench of the Income Tax Appellate Tribunal had occasion to examine the India-Singapore DTAA in a recent judgment.
Read More 01 Aug 2017
Direct Tax All Industries+2
Direct Tax Amicus: July 2017
Residential status of a company was historically being determined under the Income-Tax Act based on the test of ‘control and management’ being situated in India, during the ‘whole’ of any previous year.
Read More 01 Jul 2017
Direct Tax All Industries+2
Direct Tax Amicus: June 2017
Pharmaceutical companies incur huge expenses in launching and promoting their products by way of gifts to medical professionals, holding conferences and distribution of promotional material.
Read More 01 Jun 2017
Direct Tax All Industries+2
Direct Tax Amicus: March 2017
Finance Bill, 2017 proposed a number of changes like thin capitalization rules, secondary adjustments, changes in domestic transfer pricing provisions, taxation of dividend in excess of Rs. 10 lakhs in a year and so on.
Read More 06 May 2017
Direct Tax All Industries+2
Direct Tax Amicus: May 2017
In 2012 the majority view of a Special Bench of the Income Tax Appellate Tribunal had given a conclusion that disallowance under Section 40(a)(ia) can be made only to the amounts of expenditure which are payable as on the date 31st March of every year and it cannot be invoked to disallow expenditure which has been actually paid during the previous year, without deduction of TDS.
Read More 01 May 2017
Direct Tax All Industries+2
Direct Tax Amicus: February 2017
Unless the party has performed or is willing to perform its obligations under the contract, and in the same sequence in which these are to be performed, it cannot be said that the provisions of Section 53A of the Transfer of Property Act will come into play on the facts of that case.
Read More 05 Apr 2017
Direct Tax All Industries+2
Direct Tax Amicus: April 2017
Taxes are mandatory and necessary. Opinion, however, has been divided on the issue as to whether taxes are avoidable.
Read More 01 Apr 2017
Direct Tax All Industries+2
Direct Tax Amicus: January 2017
Income of non-resident shipping entities posed many challenges and to ease the same Section 44B was enacted.
Read More 06 Mar 2017