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Rulings

Jan 03,2018

Mumbai ITAT allows revenue deduction to Knight Riders Sports Private Limited (‘assessee’) for annual Franchise fee of Rs. 30.03 cr paid to BCCI-IPL during AY 2009-10 relating to IPL Season-1;

Jan 02,2018

Bombay HC stays re-assessment initiation on assessee-individual for AY 2014-15, observes 'prima-facie' non-application of mind by the sanctioning authority while giving the necessary sanction for issuing the Sec. 148 notice, admits taxpayer's

Jan 02,2018

Hyderabad ITAT rejects taxpayer's "reverse Rule 8D" analogy to claim expense deduction ​u/s. 57(iii) while computing income chargeable under the head "income from other sources" and eventually applies Sec 80HHC's

Dec 27,2017

Kerala HC dismisses Revenue’s appeal, holds assessee eligible for Sec. 10B benefit from AY 2000-01 i.e. the year of inception of 100% export-oriented undertaking (‘EOU’) and not from AY 1998-99 i.e. the

Dec 26,2017

Pune ITAT allows depreciation claim for AYs 2004-05 and 2005-06 on intangible assets, viz. know-how, trademark and patents, goodwill acquired by assessee-company pursuant to takeover of the catalyst business on

Dec 23,2017

Bombay HC upholds ITAT order, treats the date of handing over of physical possession of property by assessee-individual (i.e. March 1, 2008), and not the date of execution of Development Agreement (i.e. September

Dec 22,2017

Bengaluru ITAT allows Sec. 10AA tax holiday to Biocon Research Ltd. (assessee, a subsidiary of Biocon Ltd and having a SEZ unit engaged in research and development of drugs) for

Dec 22,2017

Pune ITAT holds that amount of Rs. 21.53 crs received by assessee (a partner in firm) for surrender of rights/share in the firm, not taxable u/s 56(2)(vi) as income from

Dec 21,2017

Kerala HC rules on Indian taxability of salary income earned by foreign nationals who were employees of the Canadian consultant engaged by an Indian company [viz. ​Kerala State Electricity Board

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