Editor's Pick

ITAT: Voluntary CSR-expenses deductible for AY 2008-09; Expl 2 to Sec. 37(1) not retrospective.


Raipur ITAT grants Sec. 37(1) deduction to voluntary expenses incurred by assessee towards corporate social responsibility

Jul 04,2016

ITAT: Holds Sec 40(a)(ia) second proviso retrospective; Follows favourable Delhi-HC ruling over Kerala HC

Raipur ITAT deletes expense disallowance u/s 40(a)(ia) for AY 2010-11 allowing  retrospective benefit of second proviso to Sec 40(a)(ia)

Jul 04,2016

ITAT: Pre-schooling an integral part of education ; Grants Sec.12A registration to assessee-trust

ITAT grants registration to assessee (an educational trust) u/s 12A, holds that pre-schooling is an integral part of the

Jul 01,2016

Multilateral-Instrument to have arbitration provision, toolkits for developing countries work-in-progress, updates OECD

OECD’s recent Tax Talks  saw active deliberations on implementation of BEPS Project,

Jun 27,2016

ITAT: Allows business loss set-off against deemed income u/s 68; Amended Sec 115BBE prospective

Agra ITAT upholds AO's action of taxing such income u/s 68, but observes that such income shall be assessable as

Jun 14,2016

ITAT: Share application money not share-capital, interest thereon a ‘revenue’ expenditure

Pune ITAT allows deduction to assessee (a closely held company) for interest paid on share application money received

Jun 06,2016

ITAT: Receipt of bonus-shares, though without consideration, not taxable u/s 56(2)

Bangalore ITAT dismisses Revenue’s appeal, bonus shares received by assessee during AY 2012-13 does not result in ‘receipt

Jun 02,2016

CBDT extends time-limit for e-filing of CIT(A) appeals to mitigate taxpayers’ inconvenience

CBDT extends time limit for e-filing of appeals before CIT(A) to mitigate taxpayers' inconvinience, appeal due on or

May 27,2016

10 key takeaways from CBDT's draft 'indirect transfer' valuation rules

CBDT's draft valuation rules to be applicable for tangible as well as intangible assets; In respect of listed

May 23,2016