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Rulings

Jul 03,2017

Mumbai ITAT deletes addition u/s. 14A in case of assessee (a finance company), notes that during relevant AY 2008-09, assessee suo-motu disallowed Rs. 15 lakh (approx.) u/s. 14A towards interest

Jun 30,2017

Chhattisgarh HC upholds ITAT order, deletes Sec. 43B addition with regards to unpaid VAT, not claimed as deduction in the books of accounts; HC notes that while the VAT component collected was

Jun 30,2017

Kerala HC allows assessees’ writ, directs Revenue to process assessees’ declarations under the  Direct Tax Dispute Resolution Scheme, 2016 ('DRS') with respect to penalties imposed under Sections 271D, 271E and 272A(2)(C)

Jun 29,2017

Madras HC sets-aside ITAT order, condones 1631 days of appeal-filing delay and remits matter back to ITAT for decision on merits on grant of registration u/s. 12AA to assessee (a

Jun 29,2017

Allahabad HC upholds ITAT order quashing re-assessment proceedings  u/s. 148 (initiated beyond 4 years period), but holds that “notice issued u/s. 148 cannot be said to be illegal”  for AY 2007-08, despite

Jun 29,2017

Chandigarh ITAT grants capital gains exemption u/s. 54 to assessee-individual for investing gains arising on sale of residential house in a flat (i.e under-construction property) during AY 2013-14; Revenue had

Jun 28,2017

Andhra Pradesh and Telangana HC upholds ITAT order for AY 2005-06 in favour of taxpayer, capital gains arising to assessee (a Dutch company) on sale of shares of its Indian

Jun 28,2017

ITAT circuit bench at Mangaluru upholds capital gains taxability on shares for AY 1996-97, dismisses assessee-company’s plea that since shares were deposited in Escrow account in terms of the Arbitration

Jun 27,2017

Chennai ITAT upholds Sec. 14A disallowance, rejects assessee-individual’s plea that since no investment yielding exempt income was made during relevant AY 2012-13, invocation of Rule 8D was not warranted as

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