Editor's Pick

HC: Quashes re-assessment notice as taxpayer disclosed source for cash deposited post demonetization

Gujarat HC quashes re-assessment notice on assessee-individual for AY 2015-16 on the basis of cash deposited by assessee

Sep 17,2018

ITAT: Technical services 'made available' through deputed personnel; Salary recharge - FTS, not reimbursements

Chennai ITAT rules that payment received by a foreign company from its Indian subsidiary towards salary cost recharge

Sep 14,2018

ITAT: Deletes Sec. 56(2)(viib) addition for family owned co. absent possibility of black money generation

Chennai ITAT deletes addition u/s. 56(2)(viib) in hands of a private limited co. (assessee)

Sep 12,2018

HC: Denies capital gains exemption absent shares allotment by Successor Co within reasonable time

Karnataka HC rules in favour of Revenue, holds the successor-company liable for capital gains tax for AY 2000-01

Sep 11,2018

ITAT: Deduction u/s 10A(1) available despite belated return filing, dismisses Revenue's appeal

Bangalore ITAT allows Sec. 10A(1) deduction to assessee-individual for AY 2010-11 , holds that the proviso below Sec. 10A(1A)  which mandates

Sep 10,2018

HC: Sees no difficulty in STT recovery on delivery-based derivatives considering CBDT-communication

Bombay HC takes on record the CBDT communication of August 27th clarifying STT applicability on delivery-based derivative settlements, pursuant to

Sep 05,2018

ITAT: Political misuse apprehension no ground for not furnishing info; Confirms Sec. 272A Penalty

Delhi ITAT upholds levy of penalty u/s. 272A(1)( c) on Young Indian (assessee) for AY 2011-12 for non-furnishing

Aug 31,2018

ITAT: Denies deduction u/s. 35AB as Daimler Chrysler neither paid / allotted shares to know-how supplier

Pune ITAT denies assessee's claim for deduction u/s 35AB with respect to technical knowhow fee for AY 1998-99, holds that

Aug 31,2018

HC: Gratuity contribution for employees 'past services' under business take-over, deductible

Kerala HC reverses ITAT's order, allows deduction u/s 36(1)(v) for LIC premium paid in order to indemnify the liability

Aug 30,2018

HC: Disagrees with Cochin & Nagpur ITAT-ruling allowing Sec. 80P benefit on unexplained cash-credit additions

Kerala HC expresses disagreement with Cochin ITAT ruling in The Kadakkarappally Service Co-op Bank and Nagpur ITAT ruling

Aug 29,2018