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Rulings

Dec 14,2017  

SC dismisses Revenue’s appeals​​, ​holds that ​entertainment-tax ​subsidy received by multiplexes (‘assessees’) under the ​​respective subsidy schemes​ of the ​​states of Maharashtra and West Bengal ​, were capital in nature

Dec 12,2017  

Karnataka HC sets-aside CIT’s revisionary order u/s. 264 for AYs 2015-16 & 2016-17, rejects Revenue’s stand that the beneficial FTS clause under the India-Finland treaty  (which was made effective from

Dec 18,2017  

Delhi ITAT allows benefit u/s. 10A  to assessee (a 100% EOU) for AY 2010-11, being the last year of the 10-year tax holiday period; Notes that assessee (incorporated in AY

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Key US Tax Reforms and its impact on India

Pranith Golecha (Senior Manager, Deloitte India)

Dec 14,2017

US Senate passes historic tax reform bill , paves way for tax code overhaul

USA Senate, on a 51-49 party line vote passes tax reform bill authored by Republican Senators ; Bill passed in

Dec 02,2017

SC : Affirms Delhi HC ruling in Modipon, balance in PLA account deductible u/s 43B

SC affirms Delhi HC ruling in Modipon Ltd case; HC had held that balance in Personal Ledger Account (PLA) is

Nov 24,2017

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Litigation Tracker

Dec 13,2017  

Bengaluru ITAT directs Google India (‘assessee’) to deposit  Rs. 175 crores on or before December 15th in respect of the

Dec 12,2017  

Delhi HC admits Ansal Housing & Construction Ltd.’s (‘assessee’) writ challenging vires of Sec. 43CA (which deems stamp duty valuation

Nov 28,2017  

Karnataka HC disposes off writ petition filed by Google India, directs tech giant to maintain in its bank account 20%

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