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Rulings

Sep 05,2017

Calcutta HC dismisses assessee-individual’s writ, refuses to interfere with the order passed by Tax Recovery officer (‘TRO’) u/s. 159 (which provides for proceedings against the legal representative of the deceased);

Sep 04,2017

Delhi ITAT sets-aside CIT(Exemptions) order, grants Sec. 12A registration to assessee-society involved in the upliftment of farmers and protection of farmers’ interests; Notes that “the section of public to whom benefit is intended

Sep 04,2017

Jammu and Kashmir HC reverses ITAT order for AY 1997-98, rules that loss on account of embezzlement by employees was incidental to assessee’s banking business and should be allowed as

Sep 01,2017

Delhi HC allows Sec. 80HHE deduction to NDTV for AY 1999-00, rules that  television news software exported by assessee falls within the definition ‘customized electronic data’ occurring in clause (b)

Aug 31,2017

Delhi HC  allows assessee’s (a general insurance company) claim for exemption in respect of profit on the sale of investments applying CBDT circular 528 of 1988 for AY 2005-06; Rejects

Aug 31,2017

SC dismisses Revenue’s SLP challenging Delhi HC judgement holding that notices issued u/s 148 for AYs 1999-2000 to 2002-2003 on assessee-company (a public financial institution) were time barred u/s 149

Aug 30,2017

SC upholds Bombay HC order, quashes Sec. 153C proceedings initiated against assessee (an educational institution) for AYs 2000-01, 2001-02, 2002-03 and 2003-04; Pursuant to search conducted at one of the

Aug 30,2017

Mumbai ITAT upholds reassessment initiated (beyond 4 years period) in case of assessee-individual for AY 2004-05 for making 'deemed dividend' addition u/ 2(22)(e); Firstly, ITAT rejects assessee’s stand that in absence

Aug 28,2017

Delhi HC reverses ITAT order for AY 2011-12, restores unexplained credit addition u/s. 68 in respect of loans/advances received from four parties as assessee failed to discharge the ‘initial’ onus

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