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Rulings

Apr 17,2018

Mumbai ITAT upholds re-assessment on assessee (an iron and steel trader) for AY 2009-10 based on tangible information received from the Sales tax investigation wing, however restricts bogus purchases disallowance

Apr 16,2018

Mumbai ITAT deletes addition towards proceeds of benefit match in the hands of former cricketer Mr Sameer Dighe (assessee), holds that sum received is in the nature of capital receipt;

Apr 16,2018

Delhi ITAT confirms Sec. 43B disallowance on assessee (engaged in the building and constructing industries) on account of service tax received from the service recipients, but not deposited within the return filing due-date

Apr 16,2018

Madras HC dismisses assessee-company’s appeal for AY 2002-03, upholds denial of Sec. 80IA deduction (available to entities engaged in generation or generation and distribution of power) as assessee not owner

Apr 13,2018

Bengaluru ITAT grants Sec. 11 exemption to  assessee-trust (running educational institutions)  for AY 2012-13, rejects Revenue’s stand that assessee violated the provisions of Karnataka Educational Institutions (prohibition of capital fees) Act, 1984

Apr 13,2018

Delhi ITAT disallows assessee’s (an individual) claim of loss for AY 2001-02 on shares purchased from her husband, applies provisions of Sec. 60; Notes that assessee had purchased 4200 shares

Apr 13,2018

Bombay HC quashes order u/s 179 holding petitioner director liable for unpaid taxes of AY 2011-12 for a delinquent private limited company (of which it was director till 2013) absent

Apr 12,2018

Mumbai ITAT reverses CIT(A) order, denies Sec. 80-IB(10) benefit to assessee-builder for AY 2007-08 in respect of a residential project approved by Maharashtra Slum Rehabilitation Authority(SRA) as assessee could not complete

Apr 12,2018

Karnataka HC upholds ITAT order,  allows Sec. 10B deduction to a mining company (‘assessee’) on profits derived from export of iron ore, despite iron-ore processed in a plant located outside

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