Weekly DT Digest

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

HC: Upholds 'transfer' in the year of execution of development agreement, and not POA

Bombay HC approves ITAT order, holds that transfer of property took  place u/s. 2(47)(v) in subject AY 2002-03

Mar 02,2018

ITAT: Remands matter to AO for identifying real beneficiaries of accommodation entries

Delhi ITAT remands the issue of taxability of bogus accommodation entries with respect to the sum involved in

Mar 02,2018

ITAT: Income accrued earlier not taxable in year of receipt on assessee becoming resident

Chennai ITAT deletes addition with respect to consultancy income received by assessee (RNOR) in AY 2010-11  for services

Mar 02,2018

ITAT: Restores Sec. 12A registration; Mere failure to intimate amended objects, a mere irregularity

Ahmedabad ITAT restores back registration u/s 12A to assessee (a public charitable trust) cancelled by Revenue u/s 12AA(3)

Mar 02,2018

HC: Payment to National Stock Exchange for acquisition of membership, ‘capital’ in nature

Delhi HC holds that amount of Rs. 5 lakhs paid to National Stock Exchange (NSE) by assessee-company(engaged in

Feb 23,2018

ITAT: Allows deduction u/s. 37(1) for brand building expense; Follows Fine Jewellery (Mumbai ITAT)

Chennai ITAT allows deduction u/s. 37(1) by assessee-company  for advertisement expenditure incurred for brand building of “Jansons”, holds  it

Feb 23,2018

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