Editor's Pick

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

Sep 21,2018

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

Sep 21,2018

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

Sep 19,2018

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

Sep 17,2018

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

Sep 14,2018

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)

Sep 12,2018

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

Sep 11,2018

ITAT: Deduction u/s 10A(1) available despite belated return filing, dismisses Revenue's appeal

Bangalore ITAT allows Sec. 10A(1) deduction to assessee-individual for AY 2010-11 , holds that the proviso below Sec. 10A(1A)  which mandates

Sep 10,2018

HC: Sees no difficulty in STT recovery on delivery-based derivatives considering CBDT-communication

Bombay HC takes on record the CBDT communication of August 27th clarifying STT applicability on delivery-based derivative settlements, pursuant to

Sep 05,2018

ITAT: Political misuse apprehension no ground for not furnishing info; Confirms Sec. 272A Penalty

Delhi ITAT upholds levy of penalty u/s. 272A(1)( c) on Young Indian (assessee) for AY 2011-12 for non-furnishing

Aug 31,2018