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Jul 19,2018

Mumbai ITAT Special Bench (‘SB’) confirms penalty levy u/s. u/s 271D on assessee-company for receiving cash loans from one of its directors during AY 2008-09 as assessee failed to demonstrate

Jul 19,2018

SC dismisses assessee-company’s SLP against Allahabad HC judgement upholding addition u/s 68 with respect to share capital subscription as assessee failed to establish identity and genuineness of the investors; Noting

Jul 18,2018

Bombay HC reverses ITAT order for AY 1997-98, allows assessee-manufacturer’s claim of double deduction under Sections 80IA and 80HHC in respect of its two new factories;  During relevant AY, assessee

Jul 18,2018

Mumbai ITAT holds that payment received by assessee (Singapore company) during AY 2006-07 & 2007-08 from its associated enterprise in India viz. Morgan Stanley Advantage Services Private Limited (MSAS) towards

Jul 17,2018

Hyderabad ITAT Special Bench (‘SB’) rules in favour of assessee-company, holds that income from production and sale of white button mushrooms constitute ‘agricultural income’ exempt u/s. 10(1) for AYs 2008-09,

Jul 17,2018

Gujarat HC holds fresh re-assessment notice issued in March, 2017 on assessee (a share broking company) as invalid absent formal withdrawal of first notice of reopening by AO for AY

Jul 16,2018

Mumbai ITAT rejects assessee's claim to allow deduction u/s. 80-IB(10) while computing book-profits for MAT purposes u/s. 115JB for AY 2012-13; Rejects assessee’s reliance on SC ruling in Rolta India Ltd.

Jul 16,2018

Delhi HC upholds ITAT order, deletes penalty levy u/s. 271(1)(c) on assessee-company for making wrong ‘write-off’ claim for AY 2008-09; Penalty proceedings were initiated with respect to write-off of capital

Jul 13,2018

Kerala HC upholds ITAT order for AY 2008-09, denies deduction to assessee-employer for belated payment of employees' contribution to PF/ESI beyond the PF Act due-date, follows co-ordinate bench ruling in Merchem

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