Rulings

Rulings

Feb 15,2019

Delhi ITAT quashes assessment order for AY 2008-09 as time-barred, refuses to exclude period taken for special audit u/s 142(2A) citing non-application of mind by AO while initiating special audit;

Feb 15,2019

Calcutta HC dismisses individual's (Petitioner) writ petition, holds that sufficient material was on record for the petitioner to stand trial for violation of the provisions of Black Money (Undisclosed Foreign

Feb 14,2019

Amritsar ITAT treats the land purchase & sale transaction by assessee-individual [dealing in iron/steel, cement, timber, etc.] as a business venture for AY 2012-13, disallows cash payments made for land-purchase

Feb 14,2019

Bombay HC upholds ITAT order for AY 2008-09, allows set-off of unabsorbed depreciation of earlier years against current year's long term capital gains ('LTCG'); ITAT had held that as per

Feb 13,2019

Bengaluru ITAT accepts assessee-individual's [resident but not ordinarily resident in India (RNOR)] claim of long term capital gains (LTCG) of Rs. 26 cr. arising on sale of shares received as

Feb 12,2019

Karnataka HC upholds ITAT order, rules that expense disallowance u/s. 40(a)(ia) for TDS default cannot be invoked in assessee-Trust's case for AY 2006-07;  Assessee-Trust was running a hospital, during subject

Feb 12,2019

Mumbai ITAT upholds CIT(A)'s order allowing exemption u/s 54 in respect of long term capital gains ('LTCG') arising from sale of 3 residential flats, relies on Bombay HC ruling in

Feb 11,2019

Bangalore ITAT permits assessee-company to raise an additional ground before CIT(A) relating to taxability of management fees, but subject to payment of cost of Rs. 2 lakh or equivalent to

Feb 11,2019

Mumbai ITAT deletes deemed dividend addition u/s 2(22)(e) made on assessee (partnership firm) which had taken loan from sister concern, distinguishes SC ruling in Gopal & Sons and National Travel

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