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Rulings

Apr 12,2017

ITAT circuit bench at Mysore, quashes re-assessment for AY 2005-06,  which was initiated merely on the basis of survey proceedings u/s 133A during the pendency of assessee’s appeal before Bangalore

Apr 11,2017

Bangalore ITAT upholds 40% profit attribution to Indian operations of Arrow Group for AYs 2000-01 to 2004-05 in reassessment proceedings pursuant to survey conducted at liaison office premises, however, upholds restriction of TP-adjustment to 40%

Apr 10,2017

Nandu Atmaram Wajekar (‘assessee’) filed a declaration under the Income Declaration Scheme, 2016 (part of the Finance Act, 2016) (‘Scheme’) on September 30, 2016 declaring undisclosed income of Rs.11.59 crores  

Apr 10,2017

Nandu Atmaram Wajekar (‘assessee’) filed a declaration under the Income Declaration Scheme, 2016 (part of the Finance Act, 2016) (‘Scheme’) on September 30, 2016 declaring undisclosed income of Rs.11.59 crores  

Apr 10,2017

Delhi ITAT confirms disallowance of interest on borrowed funds in the hands of assessee-partner (an individual) for AY 2010-11 in view of interest-free advances made to the firm, interest is disallowed

Apr 06,2017

Ahmedabad ITAT holds that assessee (an Indian company) not liable to deduct TDS u/s 195 at the time of crediting royalty amount to the account of its Italy based group

Apr 06,2017

Bangalore ITAT rejects assessee's (Google India) contention to restrict partial payment to 15% for grant of stay of outstanding demand of Rs. 486 Cr for AY 2012-13, directs deposit of

Apr 06,2017

Bombay HC upholds ITAT order deleting unexplained cash credit addition u/s. 68 with respect to share premium received by assessee-company during AY 2008-09; HC notes that Revenue had invoked proviso

Apr 05,2017

Bombay HC reverses ITAT order, exempts land-transfer from capital gains tax for AY 2007-08, accepts assessees’ plea that land was ‘agricultural’ in nature; ITAT had held land as non-agricultural observing that it was un-cultivable and that only

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