Editor's Pick

SC: Upholds ICAI Guidance based lease rental bifurcation; Allows lease equalization charge deduction

SC upholds Delhi HC order for AY 1999-2000, allows deduction to assessee-company (‘lessor’) on account of lease equalization charges debited to P&L

Apr 26,2018

HC: Denies housing-project deduction, filling/levelling of earth started prior to 'specified date'

Allahabad HC reverses ITAT order and rules in favour of Revenue, denies deduction u/s. 80IA(5) / 80IB(10) to

Apr 11,2018

ITAT: Nissan's warranty reimbursement on exported cars, not FTS; Income source outside India

Chennai ITAT rules that reimbursement of warranty expenditure by Nissan Motor India P. Ltd. (assessee) to its group

Apr 03,2018

HC: Condones delay in filing return due to delay in obtaining tax-audit report

Madras HC allows assessee-company’s writ, condones 37 days delay in filing income tax return for AY 2014-15 owing

Mar 30,2018

SC: Re-assessment initiation based on PE allegation not sustainable once arm's-length threshold met

SC allows Honda Motor’s (a Japanese company) appeal and sets aside Allahabad HC ruling, quashes issuance of re-assessment

Mar 20,2018

HC: Confirms Revenue's initiation of special audit on Nokia; Dismisses time-barred assessment plea

Delhi HC dismisses Nokia's writ petition, confirms Revenue's initiation of Special Audit u/s 142(2A) and rejects assessee's contention

Mar 15,2018

HC: Honourarium to staff/doctors necessary for decent hospital, quashes Sec. 10(23C) exemption denial

Bombay HC sets aside CCIT’s order rejecting assessee-society’s (running a hospital providing medical facilities at subsidized rates) application for grant/continuation

Mar 13,2018

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