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Rulings

Nov 24,2016

SC upholds Bombay HC judgement in Revenue's favour,  holds that CIT(A) is empowered  to examine the validity of search operations carried out u/s 132; HC had dismissed assessee’s writ challenging

Nov 24,2016

Bombay HC dismisses asssessee’s writ challenging Chief Commissioner’s order u/s 119(2) rejecting assessee’s application for waiver of interest u/s 234A/B/C for non-payment of advance tax on capital gains arising during

Nov 24,2016

SC dismisses Revenue’s SLP against Bombay HC judgement in case of Reliance Communication Ltd. for AY 2007-08; HC had upheld ITAT order quashing revision proceedings u/s 263 in relation to taxing

Nov 23,2016

Ahmedabad ITAT upholds assessee’s (HUF) claim, sums paid to brothers for getting the premises vacated allowable as cost of improvement for the purpose of computing long term capital gains (‘LTCG’) on sale of house

Nov 22,2016

Bangalore ITAT upholds depreciation disallowance on intangible asset  i.e. ‘distribution network’ and other assets acquired by Sanyo BPL Pvt. Ltd. (assessee, a JV co.) invoking Explanation 3 to Sec 43(1),

Nov 21,2016

Kerala HC sets aside ITAT order, holds ‘reasonable’ rent and not the lower actual rent received by assssee-individual, relevant for computing annual value of the property let out u/s 23(1)

Nov 21,2016

Mumbai ITAT allows business expenditure deduction u/s 37(1) for contribution made by assessee (a CA firm) to the Pune branch of Institute of Chartered Accountants of India ('ICAI') towards construction

Nov 21,2016

Ahmedabad ITAT upholds Sec 43B disallowance on unpaid service tax for AY 2006-07 in case of an Electricity transmission company (‘assessee’); Rejects  assessee’s stand that since service tax payable was

Nov 18,2016

Mumbai ITAT quashes DRP's dismissal of assessee's application u/s 144C(13) on the ground that assessee filed only a scanned copy of application in Form 35A, holds such defect to be

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