Editor's Pick

ITAT: Deletes Sec. 271(1)(c) penalty as foundation for levy significantly altered by appellate authority

Ahmedabad ITAT quashes imposition of penalty u/s 271(1)(c) on assessee-individual for AY 2009-10, rules that “where the original basis

Feb 28,2018

ITAT: Allows loss set-off; 51% voting power remained with same individuals, despite shareholding change

Mumbai ITAT allows set off of brought forward house property losses of AY 2009-10 and 2010-11 against income

Feb 26,2018

HC: Sec. 12AA(3) doesn’t empower retrospective withdrawal of Trust registration, rejects Sinhagad ruling reliance

Allahabad HC rules that amended Sec. 12AA(3) does not authorize Commissioner to cancel charitable trust's registration from retrospective effect considering

Feb 14,2018

SC: Advises unconditional apology but declines relief in contempt proceedings initiation against taxpayer /TRO

SC refuses to interfere with Bombay HC order directing initiation of civil and criminal contempt proceedings against the President

Feb 13,2018

Taxsutra Eye Share : TDS on rent payments exceeding Rs.50k - A 360 degree analysis

Taxsutra Eye Share : TDS on rent payments exceeding Rs.50k - A 360 degree analysis

Feb 13,2018

ITAT: Construes "residential house" to include furniture, notwithstanding two agreements; Allows Sec. 54 deduction

Ahmedabad  ITAT allows assessee-individual’s claim of deduction u/s 54 in entirety for investing the capital gains in residential

Feb 12,2018

ITAT: Reliance Communication's software payments for wireless network operation, not royalty under DTAA

Mumbai ITAT rules that payment by Reliance Communication Ltd. (‘assessee’) to non-resident vendors (based in Australia, Israel, Sweden,

Feb 08,2018

ITAT: Interest on credit co-operative society's 'statutory deposits' eligible for Sec 80P deduction; Distinguishes SC ruling

​​Pune ITAT allows deduction u/s 80P(2)(a)(i) to​ ​​an employee credit co-operative society (engaged in providing credit facilities to

Jan 09,2018

ITAT: ‘Ex-gratia’ from employer for settling industrial dispute eligible for retrenchment compensation exemption u/s 10(10B)

Ahmedabad ITAT adopts pragmatic approach in interpreting 'public welfare' provisions, ​holds that the ex-gratia compensation received by assessee-employee

Jan 09,2018

ITAT: Approves policyholders' and shareholders' account aggregation for computing insurance company income

Delhi ITAT rules in favour of Max Life Insurance Co. Ltd. (‘assessee’) for AY 2010-11, approves assessee’s action

Jan 09,2018