Editor's Pick

ITAT: Investment of actual sale-proceeds, not deemed consideration u/s 50C, relevant for exemption u/s 54

Visakhapatnam ITAT allows exemption u/s 54 to assessee-doctor for investing net sale-consideration on sale of residential property during

Nov 02,2016

ITAT: Expenditure towards gifting of shares for setting up subsidiary's business deductible u/s 37

Cochin ITAT allows assessee's claim for deduction u/s 37 towards gift of subsidiary company’s shares to a key

Nov 01,2016

CBDT-Chairperson highlights gaps in tax collections, calls for personal monitoring by senior officers

CBDT Chairperson, Ms. Rani Singh Nair, calls for close monitoring of tax collections in the wake of 5% gap between

Oct 27,2016

ITAT: Sec. 50C amendment removing hardship by implementing Easwar committee recommendations, held retrospective

Ahmedabad ITAT deletes addition u/s 50C (relating to substitution of sale consideration with stamp duty valuation) while computing capital

Oct 10,2016

ITAT: SEZ unit rendering services to Galileo's Computer Reservation System eligible for Sec 10AA tax-holiday

Delhi ITAT grants Sec.10AA deduction to a software company (‘assessee’, an Indian company) on income generated by its

Sep 19,2016

Govt rules out extension of IDS, 2016 beyond Sept 30, Envisages no further clarifications

CBDT envisages that no further clarifications shall be issued in relation to the Income Declaration Scheme, 2016 (‘the

Sep 03,2016

ITAT: Redevelopment corpus-fund received by society member capital receipt but differential rent taxable

Mumbai ITAT allows assessee’s (a member of cooperative housing society) appeal, holds corpus fund received from developer on

Aug 26,2016

ITAT: Denies Sec. 10AA deduction to SEZ on receipts towards exclusive products marketing-rights

Pune ITAT denies Sec 10AA deduction to assessee (engaged in manufacture and sale of life saving drugs, export

Aug 24,2016

ITAT: Equipment AMC services rendered outside India not FTS, NR-payments not taxable

Delhi ITAT dismisses Revenue’s appeal for AY 2004-05, payment to an Israel based company by assessee (an Indian

Aug 24,2016

ITAT: ‘Offshore supplies’ not taxable, FOB/FCA delivery terms evidence title passed ‘outside India’

Delhi ITAT rules that contract revenue arising to assessee (a US company engaged in manufacture and sale of equipment used

Aug 24,2016