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Rulings

Mar 08,2017

Jaipur ITAT grants Sec. 11 exemption to assessee-society (having main objects of promoting education by setting up educational institutions) for AY 2010-11, rejects Revenue’s stand that  assessee society was running

Mar 08,2017

Mumbai ITAT rules that ‘retainership fees’ payment by assessee (a film production company) under the service contract, constitutes ‘salary’, TDS u/s 192 applicable for AY 2005-06, rejects assessee’s stand that

Mar 07,2017

Delhi ITAT quashes draft as well as final assessment order passed by AO for AY 2007-08 in case of Mitsui Marubeni (‘assessee’, an AOP), not being 'eligible assessee' as defined u/s.

Mar 07,2017

SC dismisses SLP against Madras HC judgement which had dismissed assessee’s (finance and leasing company) rectification plea u/s. 154 of Income Tax Act for exclusion of lease rentals from block

Mar 06,2017

Delhi HC upholds ITAT order, deletes additions u/s 153A made on the basis of re-valuing  assessee’s property sold during AY 2008-09; HC notes that while the dispute relating to transaction

Mar 02,2017

Kolkata ITAT excludes retention money from book profits for the purposes of MAT calculation u/s 115JB in case of assessee (engaged in executing turnkey contracts) for AY 2006-07; Rejects Revenue’s

Mar 02,2017

Gujarat HC dismisses petitioner-director’s (holding 98% shareholding in a public limited company) writ, upholds order u/s 179 (relating to liability of director of private company) lifting the corporate veil and

Mar 01,2017

Chennai ITAT upholds AO's action of restricting depreciation claim by invoking Explanation 3 to Sec. 43(1) for determining the actual cost of second-hand windmill acquired by the assessee for AY

Feb 28,2017

Mumbai ITAT upholds concealment penalty u/s 271(1)(c) on assessee-individual ( a salaried employee) for not disclosing income on account of director's sitting fee (Rs. 4 lakh) and short term capital

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