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Rulings

Dec 06,2018

Bombay HC upholds ITAT order, allows exemption u/s 54 to individual assessee for flats received as part of consideration for sale of residential property for AY 2007-08; Notes that assessee

Dec 05,2018

Delhi ITAT allows deduction u/s. 37(1) to PepsiCo India (assessee) for sponsorship fees paid to ICC during AY 2009-10; Rejects Revenue’s stand that since the expenditure benefitted other group entities

Dec 05,2018

Delhi ITAT deletes Rs. 1558.57 cr. capital gains addition on Telenor India for AY 2014-15, holds that set off of non-refundable entry fee paid by group co. (UW) to DoT

Dec 04,2018

Bangalore ITAT rules that strengthening and maintaining of the existing road would not come within the purview of laying down new infrastructure facility, denies claim of 100% deduction u/s. 80IA(4)

Dec 04,2018

Madras HC reverses ITAT's order, grants deduction u/s. 80P(2)(a)(i) to assessee (a society engaged in the business of banking and providing credit facilities to its members) on income earned from

Dec 03,2018

Delhi ITAT upholds CIT(A)'s order deleting Sec 40(a)(i) disallowance on reimbursement of salary of seconded employees to Cyprus resident entity pursuant to manpower supply agreement, holds assessee rightly deducted TDS

Dec 03,2018

Mumbai ITAT dismisses Revenue’s appeal against CIT(A) order for AY 2008-09 allowing exemption u/s 10(22) to assessee trust running international school in Bombay;  Holds that “unlike the present Sec.10(23C)(vi), there

Nov 30,2018

Mumbai ITAT holds that no taxable capital-gain arises upon conversion of a private limited company into assessee-LLP as the assets/liabilities were transferred at book value however, holds that the conversion

Nov 29,2018

Delhi ITAT confirms partial addition u/s. 69A (for unexplained money) in hands of assessee (a salaried individual) for AY 2012-13 towards the cash found in locker pursuant to search &

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