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ITAT: Consideration by partner on relinquishment of share, not ‘receipt without adequate consideration’ u/s. 56(2)

Pune ITAT holds that amount of Rs. 21.53 crs received by assessee (a partner in firm) for surrender

Dec 22,2017

HC: Upholds grossing-up of foreign nationals’ salary u/s. 195A for tax borne by Indian agent

Kerala HC rules on Indian taxability of salary income earned by foreign nationals who were employees of the

Dec 21,2017

HC: Channel placement fees and subtitling charges subject to TDS u/s 194C, not Sec. 194J

Bombay HC dismisses Revenue's appeal, holds that carriage fees or placement fees paid by assessee (engaged in broadcasting television channels)

Nov 16,2017

ITAT: EPF interest exemption only upto retirement date, subsequent interest till withdrawal, taxable

Bangalore ITAT rules against an individual assessee (a retired Wipro employee), holds that interest accrued on accumulated balance in Employee

Nov 16,2017

HC: Delhi HC strikes down several ICDS standards as ultra-vires; Can't overrule binding judicial precedents

Delhi HC, in order to preserve constitutionality of ICDS, reads down Sec.145 (2) of Income tax Act, restricts

Nov 08,2017

ITAT: Crediting Partner's capital account towards revaluation of firm's assets & subsequent withdrawal, impermissible

Chennai ITAT denies deduction to assessee-company (formed on conversion of a partnership firm) with respect to interest (premium) on debentures

Nov 06,2017

ITAT: Upholds deemed dividend taxability; Taxpayer camouflaged ‘advance’ as ‘commercial transaction’

Bangalore ITAT upholds deemed dividend addition u/s. 2(22)(e) in hands of assessee-individual for AY 2013-14, with respect to

Nov 06,2017

ITAT: Bonus shares acquire character of original shares, concessional tax rate u/s 115E applicable

Hyderabad ITAT grants concessional rate of tax of 10% u/s 115E on long term capital gains (LTCG) earned

Nov 02,2017

ITAT: Routing management charges as reimbursement through holding company cannot absolve TDS-liability

Bangalore ITAT reverses CIT(A) order, upholds disallowance u/s 40(a)(ia) citing failure of assessee to deduct tax at source

Nov 02,2017

ITAT: Software payment, not royalty; Reliance on favourable HC-ruling permissible absent jurisdictional HC-ruling

Chennai ITAT holds that payment made by assessee-company to its parent in Italy towards software licenses purchase during

Nov 02,2017

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