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Rulings

Aug 31,2018

Pune ITAT denies assessee's claim for deduction u/s 35AB with respect to technical knowhow fee for AY 1998-99, holds that assessee neither paid nor issued shares in lieu of payment to supplier

Aug 30,2018

Mumbai ITAT  rules on taxability of deceased assessee’s (Late Shri Vrajlal C Mehta) income arising post his death, holds that the right person to be assessed is “Estate of late Vrajlal C Mehta” u/s.

Aug 30,2018

Kerala HC reverses ITAT’s order, allows deduction u/s 36(1)(v) for LIC premium paid in order to indemnify the liability towards gratuity of employees taken over from another company pursuant to business

Aug 30,2018

Madras HC holds that assessee is required to gross-up the amount of fees for technical services (FTS) paid to UK based university, for the purpose of deducting TDS under India-UK

Aug 29,2018

Delhi ITAT confirms Rs. 80 lakh bogus share capital subscription addition u/s 68 in case of assessee (a private limited company) for AY 2005-06, also confirms unaccounted expenditure addition in

Aug 29,2018

Kerala HC expresses disagreement with Cochin ITAT ruling in The Kadakkarappally Service Co-op Bank and Nagpur ITAT ruling in Buldana Urban Cooperative Credit Society Limited allowing Sec. 80P benefit on

Aug 29,2018

SC dismisses Revenue’s SLP, imposes costs of Rs. 10 lakh citing inadequate and unconvincing explanation given for 596 days delay in filing the petition; Also takes note of Revenue’s misleading

Aug 28,2018

Delhi ITAT holds that payment made by assessee company to individuals (resident of Germany and Switzerland)  for AY 2008-09 and 2009-10 cannot be taxed as 'fees for technical services' under Article 12

Aug 28,2018

Delhi ITAT denies assessee company's claim for set-off of long term capital loss (LTCL) arising on sale of shares against long term capital gains (LTCG) arising on sale of property

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