Editor's Pick

SC: Reverses HC; Allows Sec 80HHC deduction to exporter on incentive-payments from export-houses

SC sets-aside Madras HC order, allows Sec 80HHC deduction on services charges / incentive payments received by assessee (marine

Mar 31,2016

SC: Reverses HC-ruling on stock-exchange fees; 'Specialized, exclusive' attributes distinguish service from facility

Supreme Court lays down law 'technical services' definition u/s 9(1)(vii), distinguishes 'service' from a 'facility'; Reversing Bombay HC ruling,

Mar 30,2016

CBDT: Warns IRS officers against laxity in processing charitable trust exemption applications u/s 12AA

CBDT directs CIT (Exemptions) to strictly adhere to time limit of 6 months while processing registration application u/s

Nov 07,2015

CBDT clarifies on TDS-applicability to TV channels' payments to production houses / advertising companies

CBDT clarifies that TDS u/s 194C, not Sec 194J, to be applicable on payments made by broadcasters/telecasters to production

Mar 01,2016

NJRS-update reveals 500+ appeals addition before SC since September, 2015

National Judicial Reference System (‘NJRS’)  statistics reveals 5.15 lakhs tax appeals filed at various appellate/Court  levels till February 2016;

Mar 04,2016

ITAT: Evaluating entitlement for refund u/s240, not mistake apparent from record; Quashes rectification u/s 154

ITAT allows assessee’s appeal, quashes rectification u/s 154; Notes that Revenue while giving effect to ITAT’s order quashing assessment

Mar 04,2016

Rare India-China MAP concluded, CBDT holds out hope for more

India and China conclude Mutual Agreement Procedure (MAP) for a Government of China undertaking involving taxation of offshore equipment

Feb 18,2016

ITAT: Right of first-refusal in future business initiatives not IPR, rejects royalty re-characterization

Payment by assessee-company to its Managing Director cum promoter (‘MD’) for granting right of first refusal to assessee

Mar 02,2016

HC: Quashes Oracle’s reassessment taxing royalty -income invoking 'force of attraction rule'; Follows coordinate-bench

Delhi HC follows coordinate bench ruling  for AY 2001-02 and quashes reassessment for AY 2005-06 initiated after 4

Feb 26,2016

HC: Deeming fiction u/s 50 cannot restrict short-term capital gain set-off against long-term loss

Bombay HC dismisses Revenue’s appeal, holds that assessee was entitled  to set-off deemed short term capital gains (‘STCG’)

Feb 24,2016

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