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Rulings

Dec 26,2016

Ahmedabad ITAT dismisses Revenue’s appeal for AY 2010-11, allows depreciation on ‘goodwill’ claimed by the assessee – company during the course of assessment proceedings vide a revised computation of income

Dec 26,2016

Bangalore ITAT allows assessee’s (a Government undertaking) appeal for AY 2008-09, holds that long term capital gains (‘LTCG’) arrived at by reducing indexed cost of acquisition from asset’s sale proceeds to be considered

Dec 23,2016

Bombay HC upholds foreign tax credit denial u/s 91 to Reliance Infrastructure Ltd. (‘assessee’) with respect to taxes paid in Saudi Arabia during AY 1983-84, however, allows expense-deduction for foreign

Dec 22,2016

Chandigarh ITAT upholds CIT's revision u/s 263 in case of Virbhadra Singh HUF (Karta Mr Virbhadra Singh is Chief Minister of Himachal Pradesh) for lack of inquiry by AO on

Dec 22,2016

Delhi HC dismisses Revenue’s appeal for AY 1982-83, quashes reassessment proceedings initiated u/s 147/148 for taxing amount of interest earned on bank accounts in UK and loan advanced out of undisclosed

Dec 21,2016

Madras HC dismisses writ filed by assessee (a Private Ltd. Company) for AY 2009-10, upholds reassessment proceedings initiated u/s 147/148 for taxing excess share premium on issuance of compulsory convertible

Dec 20,2016

SC dismisses Revenue’s SLP against Delhi HC judgment in the case of Hyosung Corporation & Anr. ( a Korean Company) for AY 2010-11; Delhi HC had allowed assessee’s writ against AAR

Dec 20,2016

Punjab and Haryana HC dismisses Revenue’s appeal for AY 2012-13, domestic payments made by assessee-company towards erection, testing, commissioning and trial operation of the equipment to contractors did not involve provision of professional/technical

Dec 20,2016

Delhi HC relies extensively on co-ordinate bench judgment in Vodafone Essar to allow Bharti Airtel's writ petition, rules that show cause notice must be issued within a 'reasonable' time even

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