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Rulings

Oct 10,2017

Bengaluru ITAT rules in favour of assessee (a company based in Saudi Arabia) for AY 2010-11, rejects Revenue’s stand that assessee constituted service PE in India due to presence of 4

Oct 10,2017

Madras HC sets-aside re-assessment order for AY 2012-13 in case of assessee (a real estate company), remits matter back to AO for passing speaking order on the objections against re-opening

Oct 09,2017

SC rules in favour of Revenue, affirms Bombay HC Full bench ruling in Plastiblends India Ltd. in entirety, holds that assessee should mandatorily consider depreciation deduction while computing incentive deduction u/s.

Oct 09,2017

Bangalore ITAT deletes short term capital gains (‘STCG’) addition u/s. 50 (capital gains on depreciable assets) in case of assessee (‘amalgamating company’) for AY 2003-04; Pursuant to scheme of amalgamation approved by HC w.e.f.

Oct 05,2017

SC confirms HC’s decision deleting capital gains addition in the hands of assessee-individuals (members of various co-operative societies) absent registration of Joint Development Agreement (JDA) between the co-operative societies and

Oct 05,2017

Ahmedabad ITAT rules that exemption u/s. 54 allowable to assessee-individual for investing capital gains in new residential property  before furnishing return of income within extended due-date u/s. 139(4) for AY

Oct 04,2017

Ahmedabad ITAT dismisses Revenue’s appeal against deletion of expense disallowance u/s. 40(a)(i) for non-deduction of TDS u/s. 195 by assessee-company (eligible for Sec.10A deduction) for AY 2009-10; Applies CBDT Circular No.

Oct 03,2017

Ahmedabad ITAT rules that hoardings rent received by assessee (a co-operative housing society) during AY 2008-09 for giving permission for installing the hoardings in the compound, assessable as income from

Oct 03,2017

Hyderabad ITAT rules that cash seized from assessee-individual’s premises during AY 2009-10 pursuant to search and seizure operation u/s. 132 of the Income-tax Act, not liable for wealth tax under the

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