Editor's Pick

CBDT issues FAQs for computing book-profits under MAT for Ind-AS compliant companies

CBDT issues circular containing 14 FAQs with respect to significant issues arising from the implementation of Minimum Alternate Tax (MAT)

Jul 25,2017

HC: Sets-aside ITAT order, denies capital gains exemption upon proprietorship succession by company

Kerala HC sets-aside ITAT’s order and restores CIT’s Sec. 263 order, denies capital-gains exemption benefit u/s. 47(xiv) upon

Jun 22,2017

ITAT: No loss set-off denial for ‘belated’ e-return, when return also filed ‘manually’ within due-date

Mumbai ITAT allows assessee’s claim of carry forward and set-off of business losses and unabsorbed depreciations for AY

Jun 20,2017

CBDT:Clarifies on seized-cash adjustment, trade-advance taxability u/s. 2(22)(e), TDS applicability on airline’s PSF payment

CBDT clarifies that Explanation 2 to Sec. 132B (debarring adjustment of seized cash against advance tax liability) is prospective  in nature, accepts the

Jun 12,2017

ITAT: Upholds Sec.14A disallowance; No specific format prescribed for recording AO's satisfaction

Bangalore ITAT upholds expense disallowance u/s. 14A, however, directs that business income increased by the amount of disallowance,

Jun 12,2017

CBDT: Notifies operating rules for TDS on rent payment exceeding Rs. 50k by individuals / HUFs

CBDT notifies operating rules and forms with respect to Sec. 194IB (inserted by Finance Act, 2017)  to provide

Jun 12,2017

Tax World abuzz with OECD's historic MLI signing

 Tax World abuzz with OECD's historic MLI signing

Jun 08,2017

ITAT: Disallows MTM loss on forex forward contract cover, distinguishes Woodward Governor ruling

Delhi ITAT disallows assessee’s claim for deduction on account of marked to market (MTM) losses on foreign exchange

Jun 05,2017

ITAT: Upholds royalty taxation, terms Standard Operating Procedures as information concerning scientific experience

Ahmedabad ITAT holds assessee-company in default u/s 201 for non-deduction of TDS u/s. 195 on payment to a

Jun 02,2017

HC: Expansively interprets Sec. 132(1), allows third-party bank a/c attachment; Fumes over false affidavit

Delhi HC upholds IT Department's action u/s 132(1) of the Income Tax Act directing the bank to attach

May 30,2017

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