Dec 06,2016  

SC reverses Rajasthan HC ruling, grants exemption u/s  10(19A) to assessee-individual (erstwhile Ruler of the princely State of Kota, which is now part of Rajasthan) on rental income derived from letting

Dec 07,2016  

Delhi HC dismisses asseessee’s (an NBFC) appeal for AY 2009-10, upholds Sec 14A disallowance as computed by AO; During relevant AY, assessee had suo-motu offered Rs. 25 lakhs as expenses

Dec 01,2016  

Chennai ITAT allows assessee’s (US Company engaged in exploration/ processing of oil and natural gas) appeal for AY 2010-11, holds that consideration received on transfer of participation rights/interests in oil banks and overriding royalty

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CBDT seeks to clarify rumours around jewellery taxation under proposed demonetisation amendments

CBDT seeks to clear air around rumors making rounds that gold jewellery (including ancestral jewellery) shall be taxed @ 75%

Dec 01,2016

Searches yield Rs. 11,000cr undisclosed income’ admission; Black money rampant in real estate, education

Analysis of data pursuant to searches conducted by IT Department during last three financial years reveals that the main sectors

Nov 30,2016

LS passes demonetization related amendments to Income-tax Act, Taxation Laws Bill

Lok Sabha passes Taxation Laws Amendment Bill, amendments proposed by Govt. to Income tax Act, amid din; Finance Minister Arun

Nov 29,2016

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Litigation Tracker

Dec 05,2016  

SC admits Revenue’s SLP against Punjab and Haryana HC ruling for AY 2009-10 wherein HC had upheld ITAT’s powers to grant

Nov 29,2016  

SC lists Sec 14A-related appeals on January 11, 2017 including Maxopp Investment Ltd.’s case; Delhi HC in case of Maxopp had

Nov 29,2016  

SC grants leave to appeal in respect of SLP filed by SBI employees co-operative society (‘assessee’) against the Gujarat HC

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