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Rulings

Apr 27,2017

Chennai ITAT grants Sec. 11 exemption to assessee (a Christian Religious Society), holds that publication and distribution of Christian literature, religious books amounts to a religious activity eligible for exemption; Notes

Apr 27,2017

Madras HC upholds ITAT order allowing deduction u/s. 36(1)(iii) for lease compensation charges paid by assessee-company (engaged in the manufacture of Soft drinks under a franchise from Coco Cola) to

Apr 26,2017

SC upholds Delhi HC's finding that Formula One World Championship Ltd. (‘FOWC’, assessee) has a fixed place PE in India by virtue of the international circuit (i.e. place were the

Apr 25,2017

Delhi HC upholds ITAT order allowing foreign tax credit (‘FTC’) to assessee (a co-operative society registered in India)  in respect of dividend received from its JV company in Oman during

Apr 25,2017

Ahmedabad ITAT directs Revenue to consider assessee-company’s foreign tax credit (FTC) claim for AYs 2008-09 and 2009-10 on taxes withholding in China despite no such claim made through return of income, but remits matter

Apr 21,2017

Ahmedabad ITAT allows deduction to assessee-employee with respect to notice pay recovered from his salary by previous employers during AY 2010-11; Rejects Revenue’s stand that no deduction for notice pay

Apr 20,2017

Mumbai ITAT upholds deletion of Sec 14A disallowance in case of assessee (a Morgan Stanley group company engaged in providing investment research advisory support, consultancy services to group companies) for

Apr 20,2017

HC sets aside ITAT’s order dismissing assessee’s (a charitable trust running a children home) appeal on the grounds of delay, condones 1902 days of appeal-filing delay and remits matter back to

Apr 19,2017

Ahmedabad ITAT allows set-off of foreign exchange derivative loss against normal business profits of assessee-company during AY 2008-09; Rejects Revenue’s stand that since the contract was settled otherwise than through delivery,

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