Income Tax Bulletin January 2025
Judicial Updates :-
- Compensation received for Compulsory Retirement Services taxable as Salary u/s 17(3)(i).
- Receipts from cloud-native machine data analytics solution, not FTS.
- Explanation 2 to Sec. 263 does not confer unchecked power for revision.
- Loss on forex loan repayment for business expansion allowable u/s 37(1).
- Transfer expenses allowed for computation of capital gains on slump sale u/s 48 r.w.s 50B.