The Madras High Court held that Section 263 revisionary powers cannot be exercised by misclassifying a demerger as an amalgamation. A Division Bench dismissed the Revenue’s appeal, upholding the ITAT ruling in Tax Case Appeal No. 602 of 2013.
The Delhi High Court ruled that payments to Amazon Web Services for cloud services are not taxable as royalty or technical fees. This judgment benefits global tech firms and Indian startups, affirming that standard cloud services do not grant customers rights or ownership over any technical infrastructure or intellectual property.
Today (12th March): The Delhi High Court has deferred its verdict on the Congress party’s petition seeking a stay on the Income Tax Department’s notice demanding over Rs 105 crore in taxes. The court indicated no apparent flaws in the Income Tax Appellate Tribunal’s ruling. The Congress argued urgency due to the upcoming elections. The party’s frozen accounts were central to the dispute.
