Weekly DT Digest

HC: Willingness to pay arrears only condition for Kar-Vivad Scheme application, extends benefit 

HC allows assessee’s writ petition, extends benefit of Kar Vivad Samadhan Scheme, 1998 (Scheme) providing for termination of appeal /

Jul 18,2014

Bombay HC admits MTDC's appeal on interest income classification as business vs IOS

Bombay HC admits Maharashtra Tourism Development Corporation’s appeal against Mumbai ITAT ruling on interest income treatment of State / Central

Jul 18,2014

ITAT: Withdrawal of recovery suit does not imply debt recovery, allows bad-debt claim 

ITAT allows assessee’s bad debt claim, rejects AO’s reasoning that since assessee had withdrawn recovery suit against debtor, debt had

Jul 18,2014

HC: Allows employee PF deduction applying Sec 43B, follows Alom Extrusions ruling 

HC allows deduction of employees’ contribution to PF for AY 2006-07 applying Sec 43B; Discusses retro effect of Finance Act

Jul 18,2014

HC: Allows severance pay amortization u/s 35DDA absent cessation of manufacturing activity 

HC upholds ITAT’s order allowing deduction for severance pay by amortization (in 5 instalments) u/s 35DDA; Assessee had transferred its

Jul 18,2014

ITAT: Proof beyond doubt necessary for establishing 'reasonable cause' u/s 273B; Confirms Sec 271D penalty 

ITAT confirms penalty u/s 271D for contravening Sec. 269SS absent proof ‘beyond shadow of doubt’ regarding existence of ‘reasonable cause’ u/s 273B; No

Jul 18,2014

HC: Permits rectification recourse u/s 254 based on SC's subsequent interpretation of law 

HC upholds recourse to rectification proceedings against ITAT order u/s 254 in view of subsequent SC decision clarifying correct legal

Jul 18,2014

HC: Allows assessee’s supplementary refund claim, rejects application of ‘non-existing’ Circular 670 

HC allows assessee’s supplementary refund claim for AY 2002-03 to 2004-05, based on receipt of TDS certificates post assessment completion;

Jul 18,2014

ITAT: Denies ‘interest on interest’ claim; Follows Gujarat Fluoro ratio 

ITAT disallows assessee’s claim of interest on ‘interest on refund’ following SC ruling in Gujarat Fluoro Chemicals; AO had adjusted

Jul 11,2014

ITAT: TDS u/s 194C applicable on payment for "software development" in packaged form 

ITAT quashes AO’s order u/s 201 for short-deduction of tax, payment by assessee (engaged in software business) for development of

Jul 11,2014

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