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Rulings

May 24,2017

Ahmedabad ITAT upholds unexplained cash credit addition u/s 68 in case of an individual-assessee for AY 2007-08 with respect to receipt of unsecured loans; AO reopened assessee’s case and made

May 24,2017

Chennai ITAT rules that land-transfer shall be taxable in the year of entering into the Joint Development Agreement (‘JDA’) and not in relevant AY 2011-12 (when constructed area was transferred),

May 20,2017

Delhi HC dismisses assessee’s writ petition (assessee being a US company having an India branch which is engaged in contract research activities) against CIT's rejection of interest waiver application u/s

May 19,2017

Mumbai ITAT rules that amount received by assessee ( a US company engaged in grading and certification of diamonds) on account of reimbursement of travel expenses, group health insurance and other

May 19,2017

Madras HC upholds ITAT order for AY 1998-99, holds that while computing 'eligible profit' for allowing deduction u/s 80HHD(1) (available to companies running hotels) loss from ineligible units/hotels cannot be

May 18,2017

Chennai ITAT grants Sec. 10A exemption to assessee (a software company) for AYs 2010-11 and 2011-12 with respect to software exported by assessee; Rejects Revenue’s stand that assessee was not

May 17,2017

Bangalore ITAT denies Sec. 80IB(10) deduction to assessee-builder for AY 2011-12 on account of violation of condition under clause (f) i.e. allotment of more than one residential unit to same

May 17,2017

Bangalore ITAT grants deduction to assessee (a partnership firm engaged in real estate business) for AY 2005-06 with respect to compensation damages (determined under arbitration award in August, 2005) for

May 17,2017

Hyderabad ITAT grants deduction to assessee [Dr. Reddy’s Laboratories Ltd., India (‘DRL, India’)] in respect of profit shared with DRL, Switzerland (‘DRL, SA’) for AY 2009-10 holding the arrangement to be bonafide; Pursuant to

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