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Rulings

Aug 02,2017

Chennai ITAT deletes Sec 40(a)(i) disallowance for belated TDS remittances u/s. 195 on payment of professional charges and corporate maintenance charges by assessee (an Indian company) to  German and UK

Aug 02,2017

Delhi HC confirms ITAT’s order for AYs 1994-95 and 1995-96, holds that assessee’s (a Japanese company) liaison office (‘LO’) in India, doesn’t constitutes its PE and accordingly assessee’s  income from business

Aug 01,2017

Allahabad HC rules on the treatment of interest income (on FD receipts pledged with the bank for availing export credit facility) in computing deduction u/s 80HHC for AY 1998-99; HC holds that "the interest

Aug 01,2017

Bombay HC dismisses Revenue’s writ, confirms AAR ruling that capital gains arising to JSH (Mauritius) Ltd., (‘assessee’, part of Jardines group) in respect of transfer of shares of Tata Industries Limited (‘TIL’)

Jul 31,2017

Chennai ITAT allows Revenue’s appeal for AY 2011-12, denies Sec. 11 exemption to assessee (an institute formed with an objective to promote Indian Composites Industry through collaboration and exchange of information relating to

Jul 27,2017

Ahmedabad ITAT rejects Revenue’s attempt to re-characterize remuneration received by Sun Pharmaceuticals Industries Ltd ('assessee') from a partnership firm (in which assessee holds 97.5% share) as royalty income, rejects Revenue’s

Jul 25,2017

Andhra Pradesh and Telangana HC rules in favour of individual-assessee for AY 2010-11, upholds ITAT order deleting levy of penalty  u/s. 271(1)(c) as the show-cause notice did not specify as to whether it

Jul 24,2017

Delhi HC upholds ITAT order allowing Sec. 80-IA benefit to assessee-company [which was initially a small scale industrial undertaking (‘SSI’), subsequently converted to medium scale undertaking] for AYs 2000-01 to 2002-03,

Jul 21,2017

Delhi HC quashes assessment u/s. 153A on assessee-company for AY 2008-09 as the assessment for relevant AY was not ‘pending’ as on the date of initiation of search and no

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