Editor's Pick

ITAT: Entire capital gains from property taxable in husband’s hands, rejects co-ownership plea

Bangalore ITAT rejects assessee-individuals’ (husband and wife) claim that long term capital gains (‘LTCG’) arising on sale of

Mar 08,2018

HC: Reverses ITAT; Advance not genuine commercial transaction, cannot escape deemed dividend taxation

Delhi HC reverses ITAT’s order, holds that advance received by the assessee from Ginza (in which it had

Mar 01,2018

HC: Reverses ITAT; Separate non-compete fees received by Pharma company’s MD, a capital receipt

Andhra Pradesh and Telangana HC reverses ITAT order, holds that non-compete fees received by assessee-individual (Chairman & MD of

Mar 01,2018

HC: Audit report, though prepared for non-tax purpose, a tangible material to reopen assessment

Bombay HC dismisses assessee-company’s (an electronic spot exchange for commodities) writ, upholds re-assessment for AY 2010-11 initiated beyond 4 years period

Feb 28,2018

ITAT: Deletes Sec. 271(1)(c) penalty as foundation for levy significantly altered by appellate authority

Ahmedabad ITAT quashes imposition of penalty u/s 271(1)(c) on assessee-individual for AY 2009-10, rules that “where the original basis

Feb 28,2018

ITAT: Allows loss set-off; 51% voting power remained with same individuals, despite shareholding change

Mumbai ITAT allows set off of brought forward house property losses of AY 2009-10 and 2010-11 against income

Feb 26,2018

HC: Sec. 12AA(3) doesn’t empower retrospective withdrawal of Trust registration, rejects Sinhagad ruling reliance

Allahabad HC rules that amended Sec. 12AA(3) does not authorize Commissioner to cancel charitable trust's registration from retrospective effect considering

Feb 14,2018

SC: Advises unconditional apology but declines relief in contempt proceedings initiation against taxpayer /TRO

SC refuses to interfere with Bombay HC order directing initiation of civil and criminal contempt proceedings against the President

Feb 13,2018

Taxsutra Eye Share : TDS on rent payments exceeding Rs.50k - A 360 degree analysis

Taxsutra Eye Share : TDS on rent payments exceeding Rs.50k - A 360 degree analysis

Feb 13,2018

ITAT: Construes "residential house" to include furniture, notwithstanding two agreements; Allows Sec. 54 deduction

Ahmedabad  ITAT allows assessee-individual’s claim of deduction u/s 54 in entirety for investing the capital gains in residential

Feb 12,2018