Apr 20,2017

HC sets aside ITAT’s order dismissing assessee’s (a charitable trust running a children home) appeal on the grounds of delay, condones 1902 days of appeal-filing delay and remits matter back to

Apr 19,2017

Ahmedabad ITAT allows set-off of foreign exchange derivative loss against normal business profits of assessee-company during AY 2008-09; Rejects Revenue’s stand that since the contract was settled otherwise than through delivery,

Apr 19,2017

Mumbai ITAT rules that payment made by KPMG India (‘assessee’) to KPMG International (‘KPMGI’, registered in Switzerland) under the Membership agreement, not taxable on the grounds of ‘mutuality’ for AY

Apr 19,2017

SC dismisses Revenue’s appeal for AY 1991-92, upholds Gujarat HC judgement granting assessee’s claim of deduction under the then existing Sec. 48(2) which was allowable only from long term capital gains;

Apr 18,2017

Delhi HC rules that the Income-tax Department cannot reject an application for compounding of offences u/s 279(2) either on the ground of limitation or on the ground that such application

Apr 17,2017

SC upholds Karnataka HC judgment in Revenue's favour, holds that waiver of liability due by amalgamating company after amalgamation is taxable in the hands of the amalgamated company u/s 41(1);

Apr 17,2017

SC dismisses Revenue’s SLP against Delhi HC judgment, HC had allowed assessee’s (a US company) writ and directed CBDT  to  grant approval u/s 10(15A)  with respect to lease rentals received

Apr 13,2017

Delhi ITAT sets aside assessment u/s 153A on assessee (chairman of Jindal Group of companies) for AY 2006-07 making addition of Rs. 69.07 lakhs representing undisclosed bank account balance; Notes that

Apr 12,2017

Delhi HC reverses ITAT order, deletes disallowance u/s 40A(2) with respect to professional remuneration payment by assessee-company to its Vice President (Marketing) [who is a related party u/s 40A(2)(b)]  during