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Rulings

Feb 24,2017

Chennai ITAT upholds Sec 14A disallowance for AYs 2011-12 & 2012-13 in respect of strategic investments made by assessee-company in subsidiary / associate companies for business purposes;  ITAT clarifies that

Feb 23,2017

Mumbai ITAT quashes DIT(Exemption) order u/s 12AA(3) cancelling registration granted to the assessee (a public charitable trust set up with the objects for promoting development of various arts) u/s 12A

Feb 23,2017

Mumbai ITAT accords ‘valid’ trust status to assessee being a trust settled by IL&FS Trust Co. Ltd, rejects Revenue’s stand that it was not a genuine trust and should be

Feb 23,2017

SC dismisses Revenue’s appeal challenging Bombay HC decision in the case of A.P. Moller Maersk A/S (assessee, a Danish shipping company); Holds that amounts received by the assessee from its

Feb 22,2017

SC dismisses Revenue’s SLP against Gujarat HC judgement in case of Sardar Sarovar Narmada Nigam Ltd. (‘assessee’ engaged in execution of ‘Sardar Sarovar  Project’, mainly consisting of construction of dam

Feb 21,2017

Special Bench (‘SB’) of ITAT rules in favour of taxpayers, holds Sec. 206AA (which provides for higher TDS rate of 20% absent PAN) cannot override beneficial DTAA rates; SB rules

Feb 21,2017

Delhi ITAT attributes 30% of profits to Indian branch (PE) of Singapore-based assessee (engaged in trading of medical equipment) in respect of direct sales in India by head office during

Feb 21,2017

Mumbai ITAT grants Article 8 benefit under India-Singapore DTAA to assessee (a Singapore based shipping company), holds assessee’s gross freight earnings collected from India during AY 2008-09 not taxable in

Feb 20,2017

Bombay HC dismisses Revenue’s writ challenging Settlement Commission order (‘ITSC’) u/s 245D(4), ITSC had allowed the Settlement application filed by the Lodha group (‘assessee’); Rejects Revenue’s stand that ITSC’s determination

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