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Rulings

Sep 20,2017

Delhi ITAT allows deduction for provision regarding year-end circuit accruals (i.e. infrastructure cost and last mile charges paid to other operators for provision of telecom connectivity services) in the year of

Sep 19,2017

Gujarat HC dismisses assessee's writ, upholds reopening for AY 2009-10 (beyond 4 years period) based on fresh material unearthed by the IT Department through the investigation wing indicating that purchase

Sep 19,2017

Jammu and Kashmir HC reverses ITAT order and rules in favour of assessee (a JV company) for AY 2005-06, railway contract receipts of over Rs. 12 cr. not income of

Sep 18,2017

Gujarat HC holds that mere allotment of PAN u/s 139A would not make an allottee a separate entity for the purpose of assessment of tax, HC disposes-off assessee-society's appeal for

Sep 18,2017

Mumbai ITAT treats the gains arising on sale of shop by assessee-individual during AY 2011-12 (i.e in October, 2010), as short term capital gains (‘STCG’) and denies Sec. 54 exemption;

Sep 18,2017

Delhi ITAT upholds Sec. 153C assessment on assessee-company to confirm unexplained income addition for AY 2004-05, notes that assessee did not produce any documentary evidence regarding nature and genuineness of

Sep 16,2017

Gujarat HC upholds the constitutional validity of Sections 245D(2A), 245D(2D) and 245HA (which introduced payment of additional tax with interest at the time of filing of Settlement application itself) inserted

Sep 15,2017

Mumbai ITAT allows Sec. 54F exemption for AY 2010-11 with respect to long term capital gains (‘LTCG’) arising to assessee-individual upon flat sold on November 18, 2009, rejects Revenue’s action

Sep 15,2017

Allahabad HC sets-aside ITAT order, grants registration u/s. 12AA to assessee-society with effect from April, 2004 (date of filing fresh application) and not from  the date of original application u/s.

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