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Sep 19,2018

Mumbai ITAT allows assessee’s (a telecom co.) claim that AY 2007-08 should be reckoned as the initial AY for claiming deduction u/s. 80-IA(4)(ii); though the audit report in Form No. 10CCB for

Sep 19,2018

Mumbai ITAT deletes addition on account of premium received by assessee (a private limited co.) on issue of redeemable preference shares to its holding co. during AY 2011-12; Noting that

Sep 19,2018

Chandigarh ITAT upholds characterization of monthly assured return received by assessee (individual, UK resident) from builder in lieu of advance towards sale price of commercial space in the proposed complex,

Sep 18,2018

Mumbai ITAT upholds CIT(A)’s order, deletes addition towards income from sale of Lodha Supremeus building in hands of assessee co. (engaged in land development and construction); Observes that assessee merely

Sep 18,2018

Delhi HC upholds ITAT order allowing Nokia India Pvt. Ltd.’s (assessee) claim for provision for warranty during AY 2003-04; Revenue had argued that the technology in the mobile phone industry

Sep 17,2018

Gujarat HC quashes re-assessment notice on assessee-individual for AY 2015-16 on the basis of cash deposited by assessee during post demonetization period; AO held that assessee’s returned income of Rs.

Sep 17,2018

Agra ITAT Third Member rules in favour of assessee (a finance co.), deletes penalty u/s. 271(1)(c) in respect of interest and commission disallowances for AY 1997-98; Penalty pertained to disallowance

Sep 14,2018

Chennai ITAT rules that payment received by a foreign company from its Indian subsidiary towards salary cost recharge of employees deputed in India, constitutes FTS for AY 2013-14 and not

Sep 12,2018

Karnataka HC admonishes AO for attaching assessee’s bank account for recovery of entire tax demand immediately upon CIT(A)’s confirmation of assessment order, without waiting for appeal period statutorily provided u/s.

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