Editor's Pick
HC: Non-conformity of assessment as per Jurisdictional HC ratio, error rectifiable u/s. 154
Calcutta HC dismisses assessee's writ challenging show cause notice issued u/s 154 proposing to withdraw deductions allowed u/s.
ITAT: Legal-fees payment for advising foreign co. on transfer of Indian subsidiary's shares, deductible u/s. 48
Mumbai ITAT allows deduction u/s 48(i) for legal/professional fees paid to Accounting/Law firms for advising / assisting assessee
HC: Interest levy u/s. 234B(2A), although prospective, applicable to pending Settlement cases
Delhi HC dismisses assessee's writ, rules that levy of interest u/s. 234B(2A) [inserted vide Finance Act, 2015] would
HC: Quashes re-assessment initiation; Bharti Infratel 'fully disclosed' its Rs. 5000+ cr. demerger deal
Delhi HC quashes re-assessment initiation (beyond 4 yrs period) on Bharti Infratel Ltd. (assessee, a subsidiary of Bharti
ITAT: Treats father-son cash transaction, as 'gift' despite belated deed preparation; Deletes penalty
Ahmedabad ITAT deletes penalty levied u/s. 271D (for contravening Sec. 269SS provisions) for cash received by assessee-individual (a
HC: Quashes re-opening based on incorrect reasons; Return-processing u/s.143(1) no carte blanche for re-assessment
Bombay HC quashes re-assessment initiation (beyond 4yrs period) for AY 2011-12 as the 'reasons to believe' were based
HC: Delhi HC also joins the league, upholds constitutional validity of Sec. 234E
Delhi HC upholds constitutional validity of Sec. 234E imposing a fee for delayed filing of TDS statements, rejects
ITAT: Allows loss claim on 'listed' shares sold off-market; Rejects 'Colorable device' plea
Ahmedabad ITAT allows assessee-company's claim of long term capital loss ('LTCL') on 'off-market' sale of 30 lakhs shares
ITAT: NHAI subsidiary not liable to collect TCS on toll collection by collecting entity
Ahmedabad ITAT rules that assessee (a wholly owned subsidiary of NHAI incorporated to construct express highway between Ahmedabad
ITAT: Rejects capital-gains claim on 'penny stock' sale; Disregards paper-trail through contract-notes
Pune ITAT upholds undisclosed income addition for sale proceeds received by assessee-individual on sale of shares, rejects assessee's