Weekly DT Digest

ITAT: Penalty for regularizing construction within byelaws of Slum Rehabilitation Authority allowable u/s 37(1)

Mumbai ITAT allows deduction u/s. 37 for penalty paid by assessee-company (engaged in the business of property development)

Mar 17,2018

ITAT: Sec. 143(2) notice by non-jurisdictional AO, invalid despite issued within statutory period

Delhi ITAT dismisses Revenue’s appeal and deletes addition u/s 68 on assessee-company during AY 2006-07, holds that the 

Mar 17,2018

ITAT: Partnership firm having corporate entities as partners, a consortium eligible for deduction u/s 80IA(4)

Pune ITAT quashes CIT's order u/s. 263 denying deduction u/s 80IA(4) to assessee (a partnership firm having 3

Mar 17,2018

ITAT: Grants conditional stay to Thomson Reuters observing 'prima facie' case in favour

Mumbai ITAT grants conditional stay to Thomson Reuters International Services Private Limited  against tax demand for AYs 2011-12

Mar 17,2018

ITAT: Considers registration date for determining holding period, absent possession transfer on agreement date

Bengaluru ITAT rejects the assessee’s appeal for considering date of agreement for the purpose of calculating holding period

Mar 09,2018

HC: Penalty imposed u/s 158BFA(2), ‘discretionary’ and not ‘mandatory’ in nature

Andhra Pradesh  and Telangana HC holds that penalty u/s 158BFA(2)  was directory and not mandatory in nature and

Mar 09,2018

ITAT: Fees paid for business- development services to subsidiary not FTS under India-Singapore DTAA

Mumbai ITAT holds that business development fees paid by assessee-company to its wholly owned subsidiary in Singapore during

Mar 09,2018

ITAT: Reopening invalid sans independent application of mind by Addl. CIT while according sanction

Delhi ITAT quashes reopening of assessment u/s 147 for AY 2005-06 on assessee-company, notes that AO had issued

Mar 09,2018

ITAT: Capital Gain taxable in year of entering development agreement; Cites Finance Act 2017 amendment

Hyderabad ITAT upholds the chargeability of capital gains on land transfer in AY 2009-10 in year of entering

Mar 09,2018

HC: Quashes re-assessment; AO cannot re-visit claim allowed by appellate authority

Gujarat HC quashes re-assessment for AY 2010-2011 initiated beyond 4 years period on assessee-company, absent failure to disclose

Mar 02,2018