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Rulings

Apr 26,2018  

SC dismisses Revenue's appeal for AY 1991-92 to 1993-94, upholds assessee's (an individual) claim that he acted merely as broker of Indian Bank for transactions in securities and not as an independent dealer

Apr 24,2018  

Andhra Pradesh HC confirms ITAT order, holds that allowances paid to employees deputed to UK by assessee (software developer) is taxable as perquisite u/s 17 (2) subject to tax deduction

Apr 26,2018  

Bangalore ITAT allows assessee-company’s claim of deduction u/s 35(1)(iv) r.w.s 35(2)(ia) for AY 2008-09 towards purchase of tangible assets for its in-house R&D facility, rejects Revenue’s contention that expenditure incurred

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ITAT : Rejects Revenue's re-characterization of Flipkart's hefty discounts as 'monopoly' building capital expense

Bangalore ITAT allows Flipkart‘s appeal against disallowance of product discounts by tax officer; Revenue had held that massive discounts provided

Apr 25,2018

SC : Rules in assessee's favour, rejects Revenue attempt to tax loan waiver u/s 41(1)/28(iv)

SC dismisses Revenue's appeals in a batch of 22 cases, upholds Bombay  High Court decision in Mahindra & Mahindra and

Apr 24,2018

SC - Big Sec. 10A win for taxpayers; 'Export turnover' exclusions are deductible from 'total turnover'

SC dismisses Revenue's appeals in a batch of over 100 cases against various High Court decisions including in HCL Technologies,

Apr 24,2018

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Litigation Tracker

Apr 12,2018  

SC stays operation of Delhi HC judgement confirming Revenue's initiation of Special Audit u/s 142(2A) on Nokia India Pvt. Ltd.

Apr 10,2018  

Revenue Counsel Mr. C. H. Sundar Rao terms Flipkart India as ‘wholesaler’ earning losses even at gross-profit level; Mr. Rao

Apr 09,2018  

Flipkart India’s hearing on AO’s re-characterization of discounts offered to customers as monopoly building capital expense begins before Bangalore ITAT

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Tax Thoughts

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