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.

Jan 31,2019

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

Jan 23,2019

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

Jan 21,2019

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

Jan 19,2019

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

Jan 18,2019

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

Jan 17,2019

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

Jan 15,2019

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

Jan 14,2019

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

Jan 14,2019

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

Jan 10,2019

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