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Rulings

May 16,2017

Delhi HC upholds charity exemption u/s. 11 to Vishwa Hindu Parishad (assessee, 'VHP') for AY 1993-94 despite assessee’s failure to comply with mandatory condition u/s. 12A(b) of filing of audit report;

May 15,2017

SC upholds Bombay HC ruling and dismisses taxpayer’s appeal, rental income arising to assessee-firm from sub-licensing of shopping centre, taxable as ‘house property’ income and not business income for AY

May 15,2017

Chennai ITAT holds that gains arising on sale of land shall be exigible to capital gains tax for AY 2012-13, characterises assessee-individual’s land (inherited from father) as non-agricultural, despite purchased

May 12,2017

Mumbai ITAT allows deduction u/s. 37 to Zee Entertainment (‘assessee’) with respect to write off of advance given to BCCI, rejects Revenue's stand that it represents a capital loss as it is in relation to

May 11,2017

Delhi HC upholds ITAT order, export commission payment by assessee-company [engaged in manufacture and sale of motorcycles using technology licensed by Honda Motor Co. Ltd., Japan (‘HMCL’]) to HMCL, neither

May 10,2017

Chennai ITAT upholds levy of penalty u/s 271(1)(c) on false depreciation claim made by assessee company on the furnace for AY 2004-05; Assessee had argued that the machinery (i.e furnace)

May 10,2017

Bombay HC upholds ITAT order for AY 2010-11, payment by Marks and Spencer Reliance India Pvt. Ltd. (assessee, a JV company between Marks & Spencer and Reliance) to Marks & Spencer

May 09,2017

Madras HC reverses ITAT order for AYs 1999-2000 and 2000-01, categorizes loss arising on sale of foreign cars as business loss in the hands of assessee (a shipping agent) , rejects invocation of

May 08,2017

SC rules against the taxpayer, holds that Sec.14A disallowance is applicable to dividend income on which tax is payable u/s. 115-O; Rejects assessee’s stand that in view of inter-linkage between

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