HC: Protective assessment possible in block assessment proceedings: Delhi HC

Tax officer has power to make protective assessment in block assessment proceedings: Delhi HC

Feb 03,2011

HC: Income received by foreign satellite companies not taxable in India

In a sigificant ruling in the case of ASIA SATELLITE TELECOMMUNICATIONS CO. LTD., the Delhi High Court held that income received by foreign satellite companies was not taxable in India.

Feb 02,2011

HC: Delhi HC ruling - ITAT can accept additional evidence

Delhi HC: ITAT has power to accept additional evidence filed by assessee

Jan 27,2011

HC: Madras HC -Additional depreciation on assets acquired after Sept

Madras HC: Additional depreciation on assets shall be limited only to the extent of 50% of eligible amount where asset was used for less than 180 days in a year

Jan 27,2011

HC: Madras HC- "Completed contract method" - AS 7 - Section 145(1)

Madras High Court- "Completed contract method" under AS 7 doesn't contravene Section 145(1)

Jan 25,2011

HC: Business income of Charitable trust

Charitable trust- business income from property in trust is exempt if utilized for its charitable object.

Jan 20,2011

HC: Madras HC - Wind-mill assembly amounts to "manufacture" and eligible for tax holiday

Activity of assembly of different parts wind-mills amounts to "manufacture" and eligible for tax holiday under section 80-IB

Jan 19,2011

HC: Delhi HC allows claim for depreciation on goodwill for Coca Cola

The Delhi HC has held in the case of CIT v Hindustan Coca Cola Beverages Pvt Ltd that where tax officer allowed depreciation on goodwill (which was a possible view

Jan 18,2011

HC: Deduction u/s 80IA and 80HHC

Section 80IA deduction is not required to be reduced in computing section 80HHC deduction.

Jan 17,2011

HC: Demerger scheme of Vodafone Essar Gujrat Limited

Demerger struck down by the High Court on tax evasion ground.

Jan 15,2011