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
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
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
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
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
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
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
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
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
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