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Rulings

Oct 03,2017

Ahmedabad ITAT upholds CIT(A)’s order and rules in favour of assessee, grants Sec. 244A interest on the refund of interest paid u/s. 234B [relating to advance tax default] for AY 2007-08; As

Sep 29,2017

Gujarat HC holds that mere issuance of notice u/s. 143(2) & claiming extended period for processing of refund u/s. 143(1) would not be sufficient to withhold tax refund for AYs

Sep 29,2017

Ahmedabad ITAT deletes unexplained cash credit addition with respect to share application money received by assessee (a private limited company) during AY 2010-11 from one of the shareholder (who is

Sep 28,2017

ITAT Special Bench (ITAT SB) holds that penalty u/s. 221(1) attracted for default in payment of self-assessment tax due u/s 140A while filing original tax-return even though assessee subsequently files

Sep 28,2017

Delhi HC quashes Sec. 148 proceedings (initiated beyond 4 years period) on assessee–company (engaged in the real estate business) for AY 2008-09; AO had recorded reasons that the five companies that subscribed

Sep 28,2017

Goa bench of Bombay HC sets aside AO’s order rejecting Vedanta’s prior permission request u/s Sec. 281(1) (applicable before effecting an asset transfer or creating a charge thereon); HC refers to Sec. 281

Sep 28,2017

Delhi ITAT rules that ‘Signature bonus’ of  about Rs. 220 cr. received by ONGC (‘assessee’) for demitting 60% of rights in the oil fields  during AY 1995-96, a non-taxable capital receipt;

Sep 27,2017

Karnataka HC dismisses assessee company’s (a wholly owned subsidiary of Canara Bank) writ, upholds Chief Commissioner’s order u/s. 119 denying waiver of interest u/s. 234C for the quarter ending September 15,

Sep 26,2017

SC dismisses assessee’s (running a jewellery shop) appeal, confirms Delhi HC order upholding block assessment on assessee for the block period 1991 to 2000; SC notes that in May, 2000,

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