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Rulings

Dec 20,2017

Delhi ITAT allows deduction to Delhi International Airport Limited (‘assessee’) for ‘upfront fee’ payment of Rs. 150 cr. to Airport Authority of India (‘AAI’) under the ‘Operation, Management and Development

Dec 20,2017

SC dismisses Revenue’s appeal in batch of over 50 cases, allows assessees’ (charitable institutions/trusts) depreciation claim on fixed assets; Rejects Revenue’s stand that once the capital expenditure on account of

Dec 18,2017

Delhi ITAT allows benefit u/s. 10A  to assessee (a 100% EOU) for AY 2010-11, being the last year of the 10-year tax holiday period; Notes that assessee (incorporated in AY

Dec 14,2017

SC dismisses Revenue’s appeals​​, ​holds that ​entertainment-tax ​subsidy received by multiplexes (‘assessees’) under the ​​respective subsidy schemes​ of the ​​states of Maharashtra and West Bengal ​, were capital in nature

Dec 14,2017

Mumbai ITAT deletes income ​addition of long term capital gains (‘LTCG’) arising to assessee-individual on account of surrender​ of​ shares of two group companies (​viz. ​‘ABL’ and ‘ACDL’) under the

Dec 13,2017

Kolkata ITAT deletes addition u/s. 56(2)(viib) in case of assessee-company (engaged in investment and financing) with respect to issuance of 0.1% redeemable non-cumulative preference shares (‘RNCPS’, of face value Rs.10

Dec 12,2017

Karnataka HC sets-aside CIT’s revisionary order u/s. 264 for AYs 2015-16 & 2016-17, rejects Revenue’s stand that the beneficial FTS clause under the India-Finland treaty  (which was made effective from

Dec 12,2017

Delhi HC dismisses assessee's writ, upholds reopening of assessment u/s 147 for AY 2007-08 and AY 2008-09 (beyond completion of 4 years of relevant AY) on ground that assessee had

Dec 08,2017

SC dismisses Revenue’s SLP against Delhi HC ruling in case of Pepsi Foods Pvt. Ltd. with respect to AYs 2006-07 to 2011-12 ; HC had quashed Sec. 153C notice issued

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