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Rulings

Aug 08,2018

Cochin ITAT holds that compensation of Rs. 40 cr. received by assessee (a Geojit group of company) during AY 2009-10 from BNP Paribas (a French Bank) for discontinuing commodity trading

Aug 07,2018

Kerala HC reverses ITAT order, upholds CIT’s cancellation of registration in case of assessee-Trust (having objects of establishing a fund for carrying out public charity); HC notes that assessee implements social

Aug 07,2018

Ahmedabad ITAT rejects assessee’s methodology towards adjustment and set off of brought forward loss and unabsorbed depreciation while calculating book profit for AY 2011-12, holds the same not in tune

Aug 07,2018

Kerala HC confirms Single Judge order, upholds taxability u/s. 56(2)(viib) with respect to excess share premium received by assessee-company (a closely held co.), despite satisfactory explanation on source of funds

Aug 06,2018

Hyderabad ITAT holds that obligation for withholding tax u/s. 192 on ESOP perquisite arises upon allotment of shares by assessee-employer and not at the ‘time of exercise’ of option by employee

Aug 06,2018

Bangalore ITAT rules in favour of Revenue, disallows Apple India’s claim for warranty expenses provision to the extent of Rs. 82.5 cr. for AY 2013-14, upholds AO’s order restricting warranty

Aug 03,2018

ITAT disallows deduction to Indian Insurance company (assessee) for reinsurance premium paid to non-resident citing non-deduction of TDS, also holds that pre-2014, any re-insurance arrangement involving a direct payment of

Aug 03,2018

Delhi ITAT rules on the stage at which deduction should be allowed for MAT credit available u/s. 115JAA, holds that MAT credit, inclusive of surcharge and education cess etc. should be reduced

Aug 03,2018

Madras HC reverses ITAT order for AY 2000-01, Rejects Revenue's capital expenditure plea for non-compete fees paid by assessee-company (a television broadcasting co.) to one of its directors for not

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