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Rulings

Jul 09,2018

​SC delivers two separate judgments in respect of TDS applicability on payment of interest and lease rental to NOIDA (The New Okhla Industrial Development Authority​ constituted under UP Industrial Area Development

Jul 06,2018

Hyderabad ITAT denies Sec. 36(1)(iii) deduction for finance cost of Rs. 164 cr. incurred by assessee-company (a promoter company for the GVK group of companies) for advancing interest-free loan to

Jul 06,2018

Delhi ITAT deletes Sec. 40(a)(i) disallowance of Rs. 120 cr. for airfreight payments made by assessee (a logistic and Cargo handling company) without TDS to non-resident parties during AY 2014-15;

Jul 05,2018

Karnataka HC dismisses assessee-individual’s petition u/s. 438 of Criminal Procedure Code (CrPC) seeking protection from arrest, as assessee not an ‘offender’ but a ‘defaulter’ as per the Second Schedule; Notes

Jul 05,2018

Calcutta HC rules that failure to issue notice u/s. 143(2) would vitiate the reassessment proceedings altogether, rejects Revenue’s stand that the matter must be restored to the stage where a notice u/s.

Jul 04,2018

Kerala HC reverses ITAT order and upholds re-assessment for AY 1999-2000, rejects assessee-company's stand that no other issues can be dealt in re-opening other than what were recorded as reasons u/s. 148(2); Notes

Jul 03,2018

Madras HC allows assessee’s (Dr. Prathap Reddy, Chairman of Apollo Hospitals) writ, directs Income-tax Settlement Commission (‘ITSC’) to permit assessee to make good the short fall in payment of additional

Jul 03,2018

Kolkata ITAT allows the long term capital loss claim on off-market sale of shares by assessee to its group company during AY 2009-10; Rejects Revenue’s stand that the off market

Jul 02,2018

  SC upholds Allahabad HC order and rules in favour of Revenue, holds that assessee [New Okhla Industrial Development Authority (‘NOIDA’), constituted under UP Industrial Area Development Act, 1976] not ‘local

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