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Rulings

Oct 05,2018

Ahmedabad ITAT rules that compensation / damages received by assessee-developer for development agreement not honored by land-owner, a non-taxable capital receipt for AY 2008-09; Notes that despite development agreement entered

Oct 03,2018

Bombay HC condemns Revenue officials for the unpleasant state of affairs prevailing in the Department, warns that “it is time, the Revenue officers inculcate a discipline and set their house

Oct 03,2018

Jammu & Kashmir HC dismisses assessee’s writ, upholds prosecution proceedings  initiation u/s 276-C/277 against assessee-individual (proprietor of a Finance co.) for wilful attempt to conceal the particulars of income with a

Oct 02,2018

Kerala HC rejects petitioner’s interim prayer to submit returns within the extended due-date of October 15th without insistence of interest payment u/s. 234A; Opines that the matter requires further consideration and

Oct 01,2018

Pune ITAT allows assessee’s (engaged in electricity distribution) business expenditure claim for AY 2012-13, rejects Revenue’s stand that assessee’s business stands discontinued by virtue of handing over its entire infrastructure

Oct 01,2018

Mumbai ITAT upholds CIT(A) order, deletes addition u/s 69B for AY 2012-13 on account of difference in the capital account balance of assessee-partner in his books of account vis-a-vis the

Sep 28,2018

Calcutta HC reverses ITAT order and rules in favour of Revenue for AY 1996-97, holds PILCOM as agent of Non-Resident Cricket Boards in relation to 1996 World Cup receipts; Pursuant

Sep 28,2018

Pune ITAT allows Sec 80IB(10) deduction to assessee-developer for AY 2012-13 on pro-rata basis, considering violation of Sec 80IB(10)(f) conditions only in respect of 2 residential flats in the housing project; Rejects

Sep 27,2018

SC dismisses Revenue's SLP against Bombay HC ruling in Manjula J. Shah on account of low tax effect; HC had upheld ITAT Special Bench ruling to hold that while computing

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