Results for 1st Riverus Article Writing Competition on Direct Taxes

We received around 15 entries which were judged on structure, clarity, analysis and language. As per our panel's feedback, most entries scored extremely low on legal analysis while a couple of articles were disqualified as a result of plagiarism. The competition required an in-depth analysis of one (or more) issues in the given themes however the entries … Continue reading Results for 1st Riverus Article Writing Competition on Direct Taxes

Vox Analytica Files : A Data Driven Look at Permanent Establishment

On June 6, 2018, the Authority for Advanced Rulings pronounced its decision in the case of MasterCard Asia Pte. Ltd. on the issue of whether there was a permanent establishment of the company in India or not. In a detailed judgment, the Authority ruled as follows: The setting up of Indian operations of MasterCard has … Continue reading Vox Analytica Files : A Data Driven Look at Permanent Establishment

Per Incuriam Cases – V

In continuation of our series on Per Incuriam cases, today we look into two situations which present very intriguing questions of law related to genuineness of a partnership firm and the age old tax problem of distinction between capital and revenue expenditure. You can read the earlier parts here - I, II, III and IV … Continue reading Per Incuriam Cases – V

Per Incuriam Cases – IV

In this edition of per incuriam cases, we have cases with issues ranging from dismissal of complaint due to undisclosed amount not being high enough, to deduction of marriage expenses in  for unmarried daughter and ending with the Bombay High Court deciding an issue against the assessee in three sentences. Does rejection of complaint due … Continue reading Per Incuriam Cases – IV

Per Incuriam Cases – III

Even after a judgement has been declared per incuriam, they are routinely cited by the courts. For example, the case CIT vs Avi-Oil India Pvt Ltd.which was declared per incurium by V.R.A Cotton Mills (P) Ltd. vs U.O.I on 27-09-2011 has been cited 15 times since then. Identification of per incuriam cases can be useful to both lawyers … Continue reading Per Incuriam Cases – III

Slump Sale and its taxability

Slump Sale - Meaning A Slump Sale is a sale of one or more undertakings by a seller as a going concern to an acquirer, for a lumpsum consideration, without specific values being assigned to individual assets. The concept of Slump Sale was introduced in the income tax law through section 2(42C) [definition of Slump … Continue reading Slump Sale and its taxability

Per Incuriam Cases – II

A judgment of the court is not a binding precedent if given per incuriam, i.e., it is either: A judgment that is passed in ignorance of a relevant statutory provision; or A judgment that is passed without considering binding precedent of a coordinate or larger bench. As discussed in the earlier article, the significance of a judgment having … Continue reading Per Incuriam Cases – II