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Rulings

May 02,2018

SC dismisses Revenue's appeals in a batch of over 100 cases against various High Court decisions including in HCL Technologies, Gem Plus Jewellery India Limited and Tata Elxsi Ltd, holds

May 02,2018

Delhi HC reverses ITAT order, allows deduction for software expenses incurred by assessee-bank during relevant AY as revenue expenditure; Rejects Revenue’s stand that the softwares acquired were depreciable assets for

Apr 30,2018

Delhi HC refers matter to larger bench on interpretation of the term ’undisclosed income’ for the purpose of block assessment, holds that “While examining the questions, the view expressed in

Apr 30,2018

SC refers matter to larger bench on Sec. 80HHC deduction entitlement to supporting manufacturer who receives export incentives in the form of duty draw back (DDB), Duty Entitlement Pass Book

Apr 27,2018

Bangalore ITAT upholds applicability of TDS u/s 194H on cash discount/ collection charges retained by Airline Operators while paying passenger service fees (PSF) to Delhi International Airport Pvt. Ltd (assessee)

Apr 27,2018

Delhi HC holds one time royalty payment under Trade Mark License Agreement deductible as revenue expenditure, holds that  no enduring benefit conferred on assessee; AO noted that during the  tenure

Apr 26,2018

Bangalore ITAT allows Flipkart India’s (assessee) appeal challenging disallowance of product discounts as capital expenditure, rejects AO/CIT(A)’s conclusion that assessee’s strategy of selling goods at lower than cost price leads

Apr 26,2018

Bangalore ITAT allows assessee-company’s claim of deduction u/s 35(1)(iv) r.w.s 35(2)(ia) for AY 2008-09 towards purchase of tangible assets for its in-house R&D facility, rejects Revenue’s contention that expenditure incurred

Apr 26,2018

SC dismisses Revenue's appeal for AY 1991-92 to 1993-94, upholds assessee's (an individual) claim that he acted merely as broker of Indian Bank for transactions in securities and not as an independent dealer

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