Editor's Pick

HC: Treatment of ‘Tax borne by employer’ as salary, a settled issue; Sec 154 order Valid

Rectification of order u/s 154 by AO, on an issue not decided by ITAT, held valid; Inclusion of taxes borne

Jul 14,2011

ITAT: Sec 80IB(10) deduction available though area of few units exceed 1500 sq ft

Sec 80IB deduction cannot be denied for entire project where area of few residential units exceeded 1,500 sq ft: Chennai

Jul 11,2011

HC: No denial of refund due to mere non - mentioning in ITR form

Refund cannot be denied due to mere non-mentioning in ITR form, when all supporting documents filed by assessee; annexures form

Jul 08,2011

HC: No refund via Writ Petition if tax wrongly paid & no revised return filed

Wealth Tax paid due to ' misconstruing ' or ' wrong interpretation ' of an Act, cannot be claimed through

Jul 08,2011

ITAT: Banks qualify as 'Financial Institutions', eligible for deduction u/s 36(1)(viii)

Banks covered as 'Financial Institutions' and eligible for deduction u/s 36(1)(viii), prior to amendment by Finance Act, 2007;  Amendment to Sec 36(1)(viii) clarificatory

Jul 08,2011

ITAT: Sec 10A deduction available despite STPI approval as 'expansion'

Deduction u/s 10A cannot be denied merely based on STPI's approval as "Expansion" of unit, instead of approval as "New

Jul 08,2011

HC: ‘Net’ value of assets taxable as Capital gains upon liquidation

Assets received by shareholders pursuant to liquidation, taxable as Capital Gains, on fair value of assets as reduced by attached liabilities

Jul 07,2011

SC: No absolute ' Secrecy ' under DTAA

No absolute bar of ' Secrecy' under Article 26 of India-Germany DTAA; Vienna Convention relevant in treaty interpretation under Indian

Jul 05,2011

HC: As alternative remedy of DRP available, writ petition against Sec 147 notice dismissed

Writ against Sec 147 notice dismissed on account of 13 month delay in filing petition; alternate remedy of

Jul 04,2011

HC: No interest u/s 234B/C on tax liability due to retrospective amendment in later years

Advance tax liability must exist atleast on last day of financial year for levy of interest u/s 234B and 234C

Jul 04,2011