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Rulings

Aug 09,2017

ITAT Special Bench (‘SB’) deletes addition in hands of GTC Industries (assessee, a cigarette manufacturing company) on account of premium generated through sale of cigarettes using alleged Twin Branding Mechanism

Aug 08,2017

Amritsar ITAT allows assessee-bank's claim of loss on revaluation of securities and investments on inter-transfer of securities from one category to another for AY 2006-07; Revenue had argued that loss

Aug 07,2017

Bombay HC upholds ITAT order, interest  received by assessee-individual pursuant to investing  enhanced compensation on land with Bank’s Fixed Deposit account, taxable as income from other sources (‘IFOS’) for AYs

Aug 07,2017

Delhi HC allows Maruti Suzuki’s writ, grants deduction u/s. 35(2AB) in respect of capital expenditure incurred on its R&D unit at Rohtak during AY 2011-12 despite DSIR recognition received in

Aug 05,2017

Kerala HC admits writ petition filed by an individual assessee on Aadhaar-PAN linkage, issues interim direction to Income-Tax officer to allow petitioner to manually file Income tax return without insisting

Aug 04,2017

Bombay HC upholds ITAT order, forex gain arising to assessee (Indian company) on ‘exempt’ royalty/interest income from Malaysian JV company during AY 1991-92, taxable; During relevant AY, assessee received royalty

Aug 03,2017

SC  dismisses Revenue’s appeal, holds that assessees engaged in the business of bottling liquefied petroleum gas (LPG) into cylinders are ‘industrial undertaking’ and thus, entitled to benefit u/s 80HH, 80I

Aug 03,2017

Bombay HC upholds ITAT order, quashes block assessment for the block period 1989-90 to 1999-2000, accepts assessee’s stand that issuance of Sec. 158BC notice by AO, Nagpur was without jurisdiction;

Aug 03,2017

Patna HC quashes prosecution proceedings u/s. 276B launched against assessee-company for committing TDS default, grants immunity u/s. 278AA for AY 2010-11; During relevant AY, assessee deducted TDS u/s. 194A/194H for

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