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Articles by Rupesh Srivastava

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TDS controversies - Top 25 rulings pronounced in 2016

  Rupesh Srivastava    26 December 2016 at 11:08

Dear All,We have another 6 days for the wonderful year 2016!! and as Sam Levenson say, "Don't watch the clock; do what it does and Keep going."Ove

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Posted in Income Tax  3 comments |   10662 Views


Transfer Pricing adjustment on Corporate guarantee

  Rupesh Srivastava    19 December 2014 at 10:44

TP adjustment on Corporate guarantee 1. [TS-208-ITAT-2014(CHNY)-TP] Transfer of shares in subsidiary, by way of 'gift', to an overseas step down subsidiary (in Cayman Island), not taxable as capital gains u/s 45; Such transfer 'without an

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Posted in Income Tax |   18429 Views


Development agreement is also an agreement for sale subject

  Rupesh Srivastava    01 July 2014 at 12:34

Recently Hon`ble High court held, The development agreement is also an agreement for sale subject to certain conditions. In short, it is an agreement for conditional sale. (i) Whether the suit at the instance of a developer is not maintainable

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Posted in Income Tax  2 comments |   13014 Views


S. 194A - Co-operative bank need not deduct tax at source on interest paid to its members

  Rupesh Srivastava    09 June 2014 at 12:04

(2014) TaxCorp(LJ) 3362 (ITAT-BANGALORE) S. 194A - Co-operative bank need not deduct tax at source on interest paid to its members even if the amount exceeded Rs\- 10,000 p.a. It was held that 194A(3)(v) applies to a co-op bank and in view of the exe

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Posted in Income Tax |   15855 Views


Joint Development Agreement - Landmark Judgment

  Rupesh Srivastava    21 March 2014 at 12:16

Landmark orders on Joint development agreement, updated as on 21st March 2014 1. (2002) 4 CHN 115 "Development agreement comes out of the scope of the ambit of section 53A of the Transfer of Property Act. Therefore, section 53A of the TP Act, ha

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Posted in Income Tax  17 comments |   188712 Views


Whether or not the debentures are loans covered u/s 269SS

  Rupesh Srivastava    28 August 2013 at 12:28

(2013) TaxCorp(LJ) 1637 (ITAT) Income Tax Section 271D, 269SS, 269T Whether or not the debentures are loans covered u/s 269SS F.Y 2004-05, the assessee company has shown 5171.40 crores under the head as Optionally Fully Convertible Debentures

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Posted in Income Tax |   25479 Views


Landmark ruling on Section 271(1)(c) by Karnataka High court

  Rupesh Srivastava    10 July 2013 at 13:39

(2013) TaxCorp(LJ) 1412 (HC-KARNATKATA) S. 271(1)(c) - Merely because the assessee accepted addition or deletion and did not challenge the assessment order by way of appeal, it cannot be concluded that such addition or deletion amounts to concealmen

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Posted in Income Tax  4 comments |   27339 Views


S.10(23c)(iii)(ad) - Limit of 1 crore exemption available

  Rupesh Srivastava    25 June 2013 at 12:09

Recently Hon`ble high court held that u/s 10(23c)(iii)(ad) - Limit of 1 crore exemption available to the assessee as annual receipts of each of the institutions. Assessee is running as many as 23 educational institutions upto assessment years 1

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Posted in Income Tax  1 comments |   63816 Views


Transfer pricing precautions; Taxpayers need to take despite recent ITAT ruling

  Rupesh Srivastava    10 June 2013 at 11:17

In an recent ITAT ruling reported in (2013) TaxCorp (TP) 5176 (ITAT), the ITAT said Transfer pricing rules do not apply in these circumstances (i) to an investm..

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Posted in Income Tax |   9603 Views


Non-agricultural property even in a remote village

  Rupesh Srivastava    24 May 2013 at 12:30

Recently on 20th Feb 2013 ITAT bench held that, Non-agricultural property, whether inside the municipality or outside the municipality or even in a remote village is a capital asset and transfer of the same may generate income liable f

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Posted in Income Tax  6 comments |   13893 Views