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Rulings

Jan 09,2018

Delhi ITAT rules in favour of Max Life Insurance Co. Ltd. (‘assessee’) for AY 2010-11, approves assessee’s action of aggregating both the policyholders' and shareholders ' account while determining the

Jan 08,2018

Jaipur ITAT upholds AO’s stand of recognizing revenues in respect of advance received by assessee (engaged in residential township development) from the customers during AY 2012-13 applying percentage completion method (PCM’) [Category 1], but rejects

Jan 08,2018

Pune ITAT rejects assessee's claim of deduction u/s 80IA on sales tax subsidy received from State Government as an incentive for electricity generation through windmill during AYs 2008-09 and 2009-10;

Jan 05,2018

Madras HC allows assessee-HUF’s writ, grants waiver of interest under Sections 234A (for delay in furnishing the return of income), 234B (for default in payment of advance tax) and 234C

Jan 05,2018

Mumbai ITAT rejects Revenue’s request for constitution of Special Bench on software taxation matter involving various Reliance ADAG group of companies (‘assessees’)   rejects the constitution of Special Bench; ITAT

Jan 04,2018

Mumbai ITAT rejects AO’s invocation of deeming fiction u/s. 50C in computing capital gains on land introduced into an LLP as a capital contribution during AY 2012-13; Assessee (a private

Jan 04,2018

Kerala HC reverses ITAT order for AY 2009-10, rules that interest income from bank deposits accrued but not due and hence not credited to assessee’s (a Public sector undertaking) account

Jan 03,2018

Bombay HC holds that manual processing of return is legally permissible in case of glitches ​in the system, ​further ​directs CBDT to formulate a ​'​rational​'​ policy for processing of returns​

Jan 03,2018

Mumbai ITAT rules that non-compete fees of Rs. 40.50 cr received by then RSM senior partner & well known CA Ashok Wadhwa (‘assessee’) from PwC during AY 2008-09, constitutes a

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