Weekly DT Digest

ITAT: Deletes interest u/s 201(1A) pre-2012 as auditor's certificates of deductee having paid taxes obtained

Delhi ITAT deletes interest levy u/s. 201(1A) with respect to TDS default by assessee-company (providing TPA services for

Sep 14,2018

ITAT: Arbitration settlement payment to partner on firm-dissolution, capital receipt ; Deletes capital-gains addition

Mumbai ITAT dismisses Revenue’s appeal, rules that sum (Rs 2.95 Cr) received by individual-assessee during AY 2010-11 pursuant

Sep 14,2018

ITAT: AO can’t overturn HC judgment merely because SLP is pending before SC

Chennai ITAT rules that AO cannot reopen assessment and withdraw Sec. 80-IA deduction claim already allowed by jurisdictional

Sep 07,2018

ITAT: Quashes re-assessment, AO took possible view of taxing FD interest under ‘business income’

Mumbai ITAT quashes re-assessment proceedings initiated u/s 147 after 4 years from the end of relevant AY where

Sep 07,2018

ITAT: Accepts STCG treatment relating shares declared as investments, cites CBDT circular 6/2016

Pune ITAT rules that gains earned by assessee-company during AY 2007-08 on sale of shares should be assessed

Sep 07,2018

HC: ‘True & full disclosure’ - life-line of Settlement proceedings, rejects its deferral till finalisation

Madras HC dismisses assessee’s writ against Settlement Commission (ITSC) order rejecting assessee's settlement application, based on a report

Sep 07,2018

ITAT: Deletes addition u/s. 41(1) for deferred sales-tax liability relating to 'already transferred' undertaking

Mumbai ITAT deletes addition made u/s 41(1) with respect to deferred sales-tax liability appearing in the books of

Aug 31,2018

ITAT: Condones 1005 days delay, erstwhile CA's wrong advice resulted in belated appeal filing

Mumbai ITAT condones delay of 1005 days and admits appeal of assessee-company for AYs 2007-08, 2008-09 and AY

Aug 31,2018

HC: Allows deduction of expenditure on abandoned project noting commonality in funds and control

Madras HC reverses ITAT’s order, allows deduction for expenses incurred by assessee on abandoned textile project during AY

Aug 31,2018

SC: Dismisses Revenue’s SLP against HC upholding Settlement Commission order granting immunity from penalties

SC dismisses Revenue’s SLP 'on the ground of delay as well as on merit' against Delhi HC order

Aug 31,2018

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