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ITAT: Allows loss on shares sold off-market to group company, rejects ‘colorable device’ plea

Kolkata ITAT allows the long term capital loss claim on off-market sale of shares by assessee to its

Jul 03,2018

ITAT: Share buy-back at lower than book value, non-taxable u/s 56(2)(viia); Fails ‘property’ test

Mumbai ITAT deletes addition of Rs. 82 lakhs made u/s 56(2)(viia) with respect to shares bought back by

Jul 02,2018

ITAT: Allows Forex fluctuation losses to PE for working capital loan from Spanish HO

Delhi ITAT allows deduction u/s. 37 for foreign exchange fluctuation losses arising to PE  (project office - PO)of assessee (a

Jun 29,2018

District Court : Convicts assessee & directors u/s 276C/D, penalty deletion on technical ground not savior

Delhi District Court convicts assessee-company and its directors  u/s. 276C / 276D for willful attempt to evade tax by underreporting

Jun 26,2018

ITAT: Capital-gains to Singaporean Co. from trading in Indian securities, non-taxable; LOB clause inapplicable

Mumbai ITAT rules that capital gains of Rs. 455.70 Cr. arising to assessee-company (a tax resident of Singapore),

Jun 22,2018

ITAT: Rejects ‘exempt’ demerger plea, however deletes capital-gains addition absent monetary consideration

Kolkata ITAT dismisses Revenue’s appeal for AY 2009-10, deletes long term capital gains (‘LTCG’) addition u/s. 50B, made

Jun 22,2018

ITAT: Trade advance driven by commercial consideration, not deemed dividend; Applies 2017 CBDT-circular

Chennai ITAT confirms CIT(A) order, rejects deemed dividend addition u/s. 2(22)(e) in hands of assessee-individual during AY 2014-15,

Jun 19,2018

HC: Insists Tax Clearance Certificate before director leaving country, considering Rs. 400 cr. demand raised u/s. 179

Kerala HC sets aside order u/s. 179 holding assessee-individual jointly and severally liable for payment of tax and penalty

Jun 18,2018

ITAT: Deletes unexplained cash credit addition as assessee not maintaining books of accounts

Delhi ITAT deletes addition u/s 68 [dealing with unexplained cash credits] in respect of cash deposited in the

Jun 14,2018

ITAT: Conducting ‘training’, providing CRS access to Marriott Hotels, not FTS for Dutch affiliate

Mumbai ITAT rules that consideration received by assessee (a Dutch company, part of the Marriott group) for the

Jun 12,2018

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