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Rulings

Feb 21,2017

Special Bench (‘SB’) of ITAT rules in favour of taxpayers, holds Sec. 206AA (which provides for higher TDS rate of 20% absent PAN) cannot override beneficial DTAA rates; SB rules

Feb 21,2017

Delhi ITAT attributes 30% of profits to Indian branch (PE) of Singapore-based assessee (engaged in trading of medical equipment) in respect of direct sales in India by head office during

Feb 21,2017

Mumbai ITAT grants Article 8 benefit under India-Singapore DTAA to assessee (a Singapore based shipping company), holds assessee’s gross freight earnings collected from India during AY 2008-09 not taxable in

Feb 20,2017

Bombay HC dismisses Revenue’s writ challenging Settlement Commission order (‘ITSC’) u/s 245D(4), ITSC had allowed the Settlement application filed by the Lodha group (‘assessee’); Rejects Revenue’s stand that ITSC’s determination

Feb 17,2017

Panaji ITAT rules on assessee-bank's (State Bank of Mysore branches) challenge against initiation of proceedings u/s 201(1)/(1A) for non-deduction of TDS u/s 194A on interest payments to Vishveshvaraya Technological University

Feb 17,2017

Chandigarh ITAT allows assessee-individual’s claim of long term capital loss on transfer of plot to his nephews during AY 2009-10, rejects Revenue's application of Sec 50C on an unregistered document;

Feb 16,2017

Delhi ITAT dismisses Revenue’s appeal for AY 2008-09, holds that pre-operative expenses towards audit fees, salaries, legal  and professional charges, financial and bank charges are allowable u/s 57(iii) since such

Feb 16,2017

Delhi ITAT allows Sec 11/12 exemption to Patanjali Yogpeeth (a public charitable trust having pre-dominant object to provide medical relief through pranayama and yoga and impart education in field of

Feb 16,2017

Punjab & Haryana HC holds petitioner (‘an individual’) entitled to avail remedy under Pradhan Mantri Garib Kalyan Yojna Deposit Scheme  (‘PMGKY Schme’) with respect to Rs. 30 lakhs cash seized

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