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Rulings

Dec 08,2017

Allahabad HC upholds ITAT order making addition u/s 68 in the hands of assessee-company during AY 2007-08 with respect to share capital subscribed by investors, rules that, assessee failed to

Dec 08,2017

Delhi ITAT reverses CIT(A)’s order, holds that assessee-company (allegedly engaged in the business of purchase and sale of fabric) introduced undisclosed income under the garb of purchases/ sales of fabric

Dec 08,2017

Delhi ITAT holds that guarantee fees received by non-resident assessee-company for AY 2011-12 in respect of guarantees provided to support credit facilities availed by its subsidiaries in India is taxable

Dec 07,2017

Delhi HC rules in favour of Revenue, refuses to grant deduction u/s 43B for AY 1999-2000 for unutilized MODVAT credit as at the end of year representing excise duty paid

Dec 07,2017

Madras HC dismisses assessee’s writ petition challenging transfer of its case u/s 127 from DCIT, Corporate Circle-1(1), Chennai to the Central Circle-1(1), Chennai;  HC notes that reasons for transfer as

Dec 06,2017

Rajkot ITAT holds that income of assessee (a UAE Co.) arising from operation of ships in India, not taxable, grants relief under Article 8 of India-UAE DTAA for AY 2008-09;

Dec 06,2017

Hyderabad ITAT holds that share of profit paid by assessee-builder to SIDCPL (one Infrastructure Development company) under the terms of MoU, not diversion of income by overriding title, but only

Dec 06,2017

Delhi ITAT deletes protective addition of Rs.371.34cr in respect of income of overseas companies made in the hands of shareholder assessee (individual) while conducting search and seizure operation u/s 132(1)

Dec 05,2017

SC reverses Karnataka HC ruling and rules in favour of Revenue, denies Sec. 80-IB benefit as assessee ceased to be a small scale industrial undertaking (‘SSI’) in relevant AY, being 9th year of

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