Editor's Pick
HC: Holds PILCOM as agent of foreign Cricket Boards regarding 1996 World Cup receipts
Calcutta HC reverses ITAT order and rules in favour of Revenue for AY 1996-97, holds PILCOM as agent
ITAT: Grants pro-rata Sec. 80IB benefit as conditions violated only with respect to 2 flats
Pune ITAT allows Sec 80IB(10) deduction to assessee-developer for AY 2012-13 on pro-rata basis, considering violation of Sec 80IB(10)(f)
ITAT: Interprets ‘may’ u/s 50C(2); No discretion to AO on referring valuation to DVO
Chennai ITAT rejects AO’s claim that since Sec. 50C(2) has used the expression “may”, it was not compulsory
HC: Upholds suppressed sales addition, 'security deposit' plea mere device to defer tax liability
HC upholds AO’s undisclosed income addition for suppressed sale proceeds pursuant to block assessment proceedings, rejects assessee’s (one
HC: Calculates compounding fee @100% of 'tax' evaded, not on income addition
Gujarat HC rules that compounding fees should be levied @ 100% of ‘tax’ sought to be evaded and
ITAT: NR’s monthly return from builder until property possession, taxable as ‘Interest’
Chandigarh ITAT upholds characterization of monthly assured return received by assessee (individual, UK resident) from builder in lieu
HC: Quashes re-assessment notice as taxpayer disclosed source for cash deposited post demonetization
Gujarat HC quashes re-assessment notice on assessee-individual for AY 2015-16 on the basis of cash deposited by assessee
ITAT: Technical services ‘made available’ through deputed personnel; Salary recharge - FTS, not reimbursements
Chennai ITAT rules that payment received by a foreign company from its Indian subsidiary towards salary cost recharge
ITAT: Deletes Sec. 56(2)(viib) addition for family owned co. absent possibility of black money generation
Chennai ITAT deletes addition u/s. 56(2)(viib) in hands of a private limited co. (assessee)
HC: Denies capital gains exemption absent shares allotment by Successor Co within reasonable time
Karnataka HC rules in favour of Revenue, holds the successor-company liable for capital gains tax for AY 2000-01