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Mar 19,2018

Delhi HC reverses ITAT order for AY 2010-11, restores penalty levy u/s 271AAA [applicable in search cases], holds Sec. 271AAA(2) condition of ‘substantiating’ the ‘manner’ of deriving undisclosed income not satisfied

Mar 16,2018

Andhra Pradesh and Telangana HC reverses ITAT order and rules in favour of assessee-individual for AY 2006-07, deletes unexplained credit addition u/s. 68 with respect to gift of Rs.73 lakh

Mar 16,2018

Pune ITAT rules that assessee is entitled to Sec 10A deduction on additional income offered on account of suo-moto TP-adjustment for AY 2011-12; Notes that TPO/ CIT(A) disallowed the deduction

Mar 16,2018

SC upholds Delhi HC ruling in Maxopp Investments Ltd., holds that interest paid on borrowings used for acquiring strategic investments is subject to Sec 14A disallowance even if earning dividend

Mar 16,2018

SC rules on the State's powers to amend law so as to undo the Court's judgment in context of Karnataka Money Lenders Act ('ML Act') and Karnataka Pawn Brokers Act

Mar 15,2018

Ruling on a writ petition , Delhi HC denies  credit of advance tax paid against the liability under the Pradhan Mantri Garib Kalyan Yojna, 2016 (‘PMGKY’), however, partially allows declaration

Mar 15,2018

Delhi HC dismisses Nokia's writ petition, confirms Revenue's initiation of Special Audit u/s 142(2A) and rejects assessee's contention that assessment proceedings for AY 2009-10 had been abated and time barred

Mar 14,2018

AAR rules that the applicant company (a non-resident seller based in Finland) eligible for lower rate of tax @ 10.506% (inclusive of surcharge and cess) on capital gains arising on sale

Mar 14,2018

SC rules against the Revenue in a batch of over 50 appeals, holds that receipts by premises cooperative societies (assessees) from its members, on account of non-occupancy charges, transfer charges, common

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