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Rulings

Dec 05,2017

Delhi ITAT confirms substantial portion of capital gain addition on sale of shares of Scorpio Beverages Pvt. Ltd. (‘SBPL’, a company owned by assessee) by Analjit Singh (‘assessee’) to CGP

Dec 05,2017

Himachal Pradesh HC reverses ITAT order in a batch of over 40 cases and rules in favour of taxpayers, allows  Sec. 80-IC benefit to units established after January 7, 2003 (i.e.

Dec 04,2017

Kolkata ITAT rules that payment received by assessee (a US company engaged in manufacturing and sale of bearings) from its Indian subsidiary (‘TIL’) towards reimbursement of expenses for the services

Dec 04,2017

Hyderabad ITAT upholds penalty levy on assessee-individual with respect to non-recording of bank-deposits  during AY 1999-00; Rejects assessee’s stand that no addition was made to the income admitted in the

Dec 01,2017

Ahmedabad ITAT upholds re-assessment proceedings in case of assessee-individual for AY 2005-06, rejects assessee’s stand that since the AO had obtained prior approval for reopening from CIT, and not from Joint/Additional

Nov 30,2017

Jaipur ITAT rejects AO’s invocation of Sec. 56(1) to tax share premium money received by assessee-company (one of the Motisons Group of companies) during AY 2009-10, clarifies that share premium amount cannot be taxed

Nov 30,2017

Delhi HC confirms the judgement and order of sentence passed by Additional Chief Metropolitan Magistrate (‘ACMM’), holds assessee-company guilty u/s. 276C/277 of the Income Tax Act for false depreciation claim

Nov 29,2017

Rajkot ITAT considers principles relevant for applicability of Article 24 of India-Singapore DTAA with respect to denial of treaty benefit on freight income earned by a Singaporean based shipping co. (‘assessee’) during

Nov 29,2017

Delhi ITAT rules that payment made by assessee (Indian subsidiary company) during AY 2000-01 to 2006-07, to its German parent towards intranet charges and SAP software, amounts to royalty under

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