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Rulings

Dec 02,2016  

SC reverses Uttaranchal HC order for AY 1989-90, upholds ITAT’s basis of arriving at cost of acquisition u/s 55(2) for computing capital gains accruing from land acquisition compensation and sale

Dec 02,2016  

Delhi HC reverses AAR order in the case of Formula One World Championship Ltd. (‘FOWC’ / ‘assessee’, a UK tax resident Company), holds that assessee constituted a fixed place PE

Dec 01,2016  

Chennai ITAT allows assessee’s (US Company engaged in exploration/ processing of oil and natural gas) appeal for AY 2010-11, holds that consideration received on transfer of participation rights/interests in oil banks and overriding royalty

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CBDT seeks to clarify rumours around jewellery taxation under proposed demonetisation amendments

CBDT seeks to clear air around rumors making rounds that gold jewellery (including ancestral jewellery) shall be taxed @ 75%

Dec 01,2016

Searches yield Rs. 11,000cr undisclosed income’ admission; Black money rampant in real estate, education

Analysis of data pursuant to searches conducted by IT Department during last three financial years reveals that the main sectors

Nov 30,2016

LS passes demonetization related amendments to Income-tax Act, Taxation Laws Bill

Lok Sabha passes Taxation Laws Amendment Bill, amendments proposed by Govt. to Income tax Act, amid din; Finance Minister Arun

Nov 29,2016

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Litigation Tracker

Nov 29,2016  

SC lists Sec 14A-related appeals on January 11, 2017 including Maxopp Investment Ltd.’s case; Delhi HC in case of Maxopp had

Nov 29,2016  

SC grants leave to appeal in respect of SLP filed by SBI employees co-operative society (‘assessee’) against the Gujarat HC

Oct 18,2016  

SC admits Revenue’s SLP against Delhi HC ruling in case of a UAE based Petroleum Company (‘assessee’); Delhi HC had held that

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