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Rulings

May 18,2018  

SC reverses HC's conclusion, allows assessee's claim for area-specific deduction u/s 80-IC in respect of its industrial undertaking located at Himachal Pradesh, rejects Revenue's claim that tax-holiday eligibility period of

May 22,2018  

Gujarat HC upholds ITAT order for AY 2009-10, denies capital gains exemption benefit u/s. 54F to assessee-individual as the construction of the flats for personal use was completed before the sale of the capital asset (i.e. land); Assessee owned

May 18,2018  

Pune ITAT rejects Revenue’s plea for AY 2009-10 that deduction with respect to Research & Development (R&D) expenditure u/s 35(2AB) is restricted only to the extent of approval granted by

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Govt. grants 3 months extension to Task Force for drafting new direct tax legislation

Govt. grants 3 months extension to the Task Force for drafting a new direct tax legislation; Govt. had constituted the Task Force

May 22,2018

E-filing facility enabled for ITR 1, 2 and 4

ITR 1, 2 and 4 for AY 2018-19 is now available for e-Filing. Other ITRs will be available shortly.

May 15,2018

Piyush Goyal given additional charge of Finance Ministry in Jaitley's absence

Minor cabinet portfolios reshuffle announced, with Mr. Piyush Goyal getting temporary additional charge of Finance Ministry & Corporate Affairs Ministry, due

May 14,2018

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Litigation Tracker

May 22,2018  

SC admits assessee’s SLP against Delhi HC judgment directing attachment of assessee’s bank accounts pursuant to search carried on in

May 21,2018  

Calcutta HC admits Revenue’s appeal in case of United Bank of India (‘assessee’); HC to examine whether a nationalized banking

May 15,2018  

Delhi HC admits Analjit Singh’s (‘assessee’) appeal against ITAT order confirming substantial capital gains addition for AY 2014-15, frames two questions

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