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.

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Direct Tax Amicus: December 2018
Covers the capital gains tax implications of converting a company into a Limited Liability Partnership.
Read More 01 Dec 2018
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Direct Tax Amicus: November 2018
Covers privity of contract and locus with a source of income as a test for diversion of income by overriding title.
Read More 01 Nov 2018
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Direct Tax Amicus: October 2018
Covers whether an amalgamation can be treated as action taken in concert purely for tax benefit, referencing Section 230 of the Companies Act, 2013.
Read More 01 Oct 2018
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Direct Tax Amicus: August 2018
Section 92 of the Income-tax Act, 1961 provides that any income arising from an international transaction shall be computed, having regard to the arm’s length price.
Read More 01 Aug 2018
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Direct Tax Amicus: July 2018
The Authority for Advance Rulings (Income Tax) in its recent ruling in the case of FRS Hotel Group has brought a question mark on the issue of operation and management contract for hotels.
Read More 01 Jul 2018
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Direct Tax Amicus: June 2018
The Central Government, in September 2016, introduced Income Computation and Disclosure Standards (shortly, ‘ICDS’), under the Income tax law, that would govern computation of income of an assessee under the head ‘profits or gains from business or profession’ and ‘income from other sources’ necessitated a taxpayer to take a fresh look at certain issues which were accepted as settled.
Read More 01 Jun 2018
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Direct Tax Amicus: May 2018
Finance Act, 2017 amended the Income-tax Act, 1961 (‘IT Act’) to provide that the annual value of building or land appurtenant thereto which is held by the assessee as stock-in trade will be deemed to be Nil for a period of one year from the end of the financial year in which the certificate of completion is obtained in respect of such property.
Read More 01 May 2018
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Direct Tax Amicus: April 2018
Under OECD Model Tax Convention income from professional services was taxed in terms of Article 14 titled ‘Independent Personal Services’ However, Article 14 was deleted from the OECD MTC with effect from 29th April 2000 and the taxation of income from professional services was brought at par with taxation of business profits as provided in Article 7 of OECD MTC.
Read More 01 Apr 2018
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Direct Tax Amicus: March 2018
The issue of liability to deduct tax at source on reimbursement of expenditure can be traced to the difference in claim of the taxpayer and taxman.
Read More 01 Mar 2018
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Direct Tax Amicus: February 2018
The liberal interpretation of the term ‘income’ and ‘business’ has not been wide enough to bring into the tax net certain receipts like compensation on termination of managing agency, profit from transfer of DEPB scrip, non-compete fee, etc.,
Read More 01 Feb 2018
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Direct Tax Amicus: January 2018
The income chargeable under the head ‘salaries’ is one of the heads of incomes which covers exhaustively, ‘payments’ made between persons in the capacity of employer and employee.
Read More 01 Jan 2018