Minimum alternate tax exclusions for pre-amendment banking companies and expatriate Indian branch salaries remain outside head office expenditure limi...
Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
ITAT ruled on long-term capital gains (LTCG) taxation for shares acquired before 01.04.2017 under India-Singapore DTAA. The tribunal held that LTCG from share transfer cannot be taxed in India for pre-specified shares. The assessee can choose treaty benefits for each transaction separately and is entitled to carry forward long-term capital loss (LTCL) under domestic tax provisions. The appellate authority found merit in the assessee's argument regarding carry forward of LTCL, noting the issue was debatable and the Assessing Officer incorrectly disallowed LTCL carry forward. Consequently, the assessee's appeal was allowed, permitting LTCL carry forward and treaty benefits application.
ITAT ruled on long-term capital gains (LTCG) taxation for shares acquired before 01.04.2017 under India-Singapore DTAA. The tribunal held that LTCG from share transfer cannot be taxed in India for pre-specified shares. The assessee can choose treaty benefits for each transaction separately and is entitled to carry forward long-term capital loss (LTCL) under domestic tax provisions. The appellate authority found merit in the assessee's argument regarding carry forward of LTCL, noting the issue was debatable and the Assessing Officer incorrectly disallowed LTCL carry forward. Consequently, the assessee's appeal was allowed, permitting LTCL carry forward and treaty benefits application.
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