Weekly DT Digest

ITAT: Allows deduction for ‘freebies’ to doctors, MCI regulations inapplicable to Pharma Co

Mumbai ITAT allows deduction u/s 37 to a Pharma co. (‘assessee’) in respect of freebies given to doctors

Aug 10,2018

HC: Treats payment for getting rid of encumbrances in property as part of 'acquisition cost'

Calcutta HC dismisses Revenue’s appeal,  rules that "the cost of getting rid of the encumbrances in any immovable property

Aug 10,2018

SC: Dismisses SLP against HC rejecting capital-gains taxability on asset revaluation by firm

SC dismisses Revenue’s SLP challenging Bombay HC order, both on the grounds of delay and merits; During relevant

Aug 10,2018

ITAT: Allows interest deduction to builder for loan taken for acquiring development rights

Mumbai ITAT allows interest deduction u/s 36(1)(iii) to assessee(builder & developer) for loan taken for the purpose of

Aug 10,2018

HC: Directs CBDT to allow filing of IT return without furnishing Aadhaar No.

Delhi HC allows assessees’ writ and directs CBDT to issue an appropriate direction and create a platform by

Jul 27,2018

ITAT: Labour payments through maistries, not a contract, Sec. 194C inapplicable

Visakhapatnam ITAT holds that the payments made by assessee (engaged in the business of transport and other allied

Jul 27,2018

HC: ITAT’s setting aside revisionary order u/s 263 ‘faulty’, amounts to putting gloss over AO’s glaring omissions

Delhi HC holds ITAT’s approach of setting aside CIT’s revisionary order u/s 263 as ‘faulty’; Notes that CIT

Jul 27,2018

ITAT: Disallows expenditure on free distribution of cigarettes to promote sale of IMFL & Beer

Mumbai ITAT denies deduction u/s. 37 for sales promotion expenditure incurred by assessee (a wholesaler of IMFL and

Jul 27,2018

HC: Interest on mobilization advance to contractors, a capital receipt; Dissents from co-ordinate bench

Kerala HC reverses ITAT order, rules that interest received by assessee (engaged in construction of roads / bridges)

Jul 27,2018

HC: Directs AO to consider assessee’s claim u/s 80HHC when SC had nullified retrospective amendment to 80HHC(3)

Kerala HC directs ACIT to consider assessee’s claim of deduction u/s 80HHC where the retrospective amendment to Sec.

Jul 27,2018

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