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Rulings

Dec 12,2017

Karnataka HC sets-aside CIT’s revisionary order u/s. 264 for AYs 2015-16 & 2016-17, rejects Revenue’s stand that the beneficial FTS clause under the India-Finland treaty  (which was made effective from

Dec 12,2017

Delhi HC dismisses assessee's writ, upholds reopening of assessment u/s 147 for AY 2007-08 and AY 2008-09 (beyond completion of 4 years of relevant AY) on ground that assessee had

Dec 08,2017

SC dismisses Revenue’s SLP against Delhi HC ruling in case of Pepsi Foods Pvt. Ltd. with respect to AYs 2006-07 to 2011-12 ; HC had quashed Sec. 153C notice issued

Dec 08,2017

Allahabad HC upholds ITAT order making addition u/s 68 in the hands of assessee-company during AY 2007-08 with respect to share capital subscribed by investors, rules that, assessee failed to

Dec 08,2017

Delhi ITAT reverses CIT(A)’s order, holds that assessee-company (allegedly engaged in the business of purchase and sale of fabric) introduced undisclosed income under the garb of purchases/ sales of fabric

Dec 08,2017

Delhi ITAT holds that guarantee fees received by non-resident assessee-company for AY 2011-12 in respect of guarantees provided to support credit facilities availed by its subsidiaries in India is taxable

Dec 07,2017

Delhi HC rules in favour of Revenue, refuses to grant deduction u/s 43B for AY 1999-2000 for unutilized MODVAT credit as at the end of year representing excise duty paid

Dec 07,2017

Madras HC dismisses assessee’s writ petition challenging transfer of its case u/s 127 from DCIT, Corporate Circle-1(1), Chennai to the Central Circle-1(1), Chennai;  HC notes that reasons for transfer as

Dec 06,2017

Rajkot ITAT holds that income of assessee (a UAE Co.) arising from operation of ships in India, not taxable, grants relief under Article 8 of India-UAE DTAA for AY 2008-09;

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