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Rulings

Mar 15,2017

SC dismisses Revenue’s SLP against Allahabad HC ruling allowing Sec 80-IB benefit on additional income declared in return filed u/s 153A pursuant to search despite assessee's failure to file audit

Mar 14,2017

Pune ITAT allows set-off of long term capital loss on off-market sale of listed shares (which otherwise attract STT if routed through Stock Exchange) against taxable long term capital gains

Mar 13,2017

Bombay HC dismisses assessee-company’s writ, holds that TDS under the Income-tax Act, 1961 cannot be adjusted against the tax payable on the undisclosed income declared by assessee under the Voluntary Disclosure of Income

Mar 10,2017

ITAT rules in favour of Revenue for AY 2011-12, denies assessee’s Sec 54F exemption claim, being first made before CIT(A) and not AO; Notes that assessee made the fresh claim

Mar 10,2017

Delhi ITAT confirms Rs. 10,000 crores capital gains tax on Cairn UK Holdings over sale of its shareholding in Cairn India Holdings to Cairn India Ltd.; Tribunal in an extensive

Mar 08,2017

Jaipur ITAT grants Sec. 11 exemption to assessee-society (having main objects of promoting education by setting up educational institutions) for AY 2010-11, rejects Revenue’s stand that  assessee society was running

Mar 08,2017

Mumbai ITAT rules that ‘retainership fees’ payment by assessee (a film production company) under the service contract, constitutes ‘salary’, TDS u/s 192 applicable for AY 2005-06, rejects assessee’s stand that

Mar 07,2017

Delhi ITAT quashes draft as well as final assessment order passed by AO for AY 2007-08 in case of Mitsui Marubeni (‘assessee’, an AOP), not being 'eligible assessee' as defined u/s.

Mar 07,2017

SC dismisses SLP against Madras HC judgement which had dismissed assessee’s (finance and leasing company) rectification plea u/s. 154 of Income Tax Act for exclusion of lease rentals from block

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