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Rulings

May 27,2016  

SC sets aside HC order, permits IT Department to take steps for recovery of tax dues from assessee; Assessee was declared sick under The Sick Industrial Companies Act, 1985 (‘SICA’)

May 27,2016  

HC allows assessee’s appeal for AY 2009-10, remands the matter of interest calculation u/s 234A to ITAT in light of CBDT Circular No.2/ 2015; CBDT Circular No.2/2015 provides that no

May 27,2016  

Pune ITAT reverses CIT(A) order, holds compounding fees to the tune of Rs. 45 lakhs paid to the Reserve Bank of India (‘RBI’) for regularising external commercial borrowings (ECB) from an

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10 key takeaways from CBDT's draft 'indirect transfer' valuation rules

CBDT's draft valuation rules to be applicable for tangible as well as intangible assets; In respect of listed shares, value

May 23,2016

Akhilesh Ranjan: BEPS Multilateral instrument won't affect India-Mauritius protocol

Akhilesh Ranjan (Principal CCIT - International Tax & Transfer Pricing) speaks on interplay of India-Mauritius protocol and BEPS Implementation, at

May 20,2016

IT Dept. issues guidance on information exchange from BVI, foresees increased requests for Panama-investigation

IT Department issues internal guidance to officers while making requests for "exchange of information" (EOI) to British Virgin Islands (‘BVI’) in order

May 16,2016

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Litigation Tracker

May 25,2016  

SC admits Revenue’s SLP against Karnataka HC judgement in case of Mphasis Software (‘assessee’); HC had allowed Sec 10A benefit to assessee

May 14,2016  

SC  admits SLP against Madras HC judgement upholding Cyprus notification; HC had dismissed writ petitions challenging validity of Sec 94A notification

May 04,2016  

SC admits Revenue’s SLP against Karnataka HC judgement; HC had allowed Sec 80P(2) benefit to assessee co-operative society providing credit facilities to

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