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Rulings

Dec 15,2018

Delhi HC dismisses writ filed by Vodafone Mobile Services Ltd seeking direction to AO for expeditious processing of return and issue of Rs. 4,759.74 Cr refund for AYs 2014-15 to 2017-18; Peruses

Dec 14,2018

Mumbai ITAT deletes Rs 301.25 Cr addition u/s 56(2)(vii)(c) on assessee (an individual) in respect of rights issue of shares held in closely held company (in which assessee is a

Dec 14,2018

Delhi HC quashes re-assessment initiation for AY 1998-99 on assessee-individual (who was non-resident for subject AY), as it was barred by limitation u/s. 149; Relying on assessee’s statement during search

Dec 14,2018

Delhi HC dismisses Patanjali Ayurveda’s writ, upholds initiation of special audit u/s 142(2A) for AY 2010-11 citing complexity in the accounts; Rejects assessee’s stand that once its accounts were audited,

Dec 13,2018

Mumbai ITAT rules on quantum of carried forward MAT credit, holds that tax includes surcharge and education cess for the purposes of computing the MAT credit for AY 2008-09, follows

Dec 13,2018

SC dismisses Revenue’s SLP challenging Bombay HC order in case of assessee (belonging to Lodha group of companies engaged in real estate business) for AY 2009-10; HC had dismissed Revenue’s

Dec 13,2018

Mumbai ITAT rejects deemed dividend taxation u/s. 2(22)(e) in hands of assessee (a Mauritian Co.) with respect to the transaction relating to the Inter Corporate Deposits (ICDs) between its two

Dec 12,2018

Mumbai ITAT allows Akshaye Khanna’s claim for expenditure (depreciation, insurance expenses) on account of speed boat owned by him for AY 2012-13, rejects Revenue’s stand that the entire speed boat

Dec 12,2018

Pune ITAT denies deduction u/s. 80P(2)(a)(i) to assessee (a Co-operative society engaged in banking business) in respect of ‘gross’ commission receipts (arising on account of collecting electricity charges for &

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