Editor's Pick

ITAT: Compensation received pre-2003 for termination of trademark user agreement non-taxable capital receipt

Chandigarh ITAT confirms CIT(A) order, compensation received during AY 1997-98 for termination of agreement to use trademarks "Eno"

Apr 14,2016

ITAT: Allows STCL on assignment of loan; Advance to subsidiary “capital asset” u/s2(14)

Mumbai ITAT reverses CIT(A) order, allows assessee’s (a non-resident Company) claim of short term capital loss on assignment

Apr 13,2016

ITAT: Disallows professional fees for common director's double role; Dismisses "different hats" argument

Mumbai ITAT dismisses assessee’s  appeal, upholds disallowance of professional fees paid to a Swiss company (Preroy AG/PAG) u/s

Apr 11,2016

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