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Rulings

Sep 06,2017  

SC directs Formula One World Championship Ltd. (‘FOWC’) to remit the amount which it received from Jaypee Sports under LCs, towards discharging its expected tax liability on payments received under the

Sep 19,2017  

Gujarat HC dismisses assessee's writ, upholds reopening for AY 2009-10 (beyond 4 years period) based on fresh material unearthed by the IT Department through the investigation wing indicating that purchase

Sep 21,2017  

Mumbai ITAT treats interest earned by assessee company on fixed deposit as capital receipt for AY 2012-13, being inextricably linked with setting up of power project, directs set-off against pre-operative

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European Commission treads 'parallel' path on digital economy taxation; Seeks time-bound, meaningful progress

The European Commission (EU Commission) releases new EU agenda on digital economy taxation, expresses concern that 'patchwork unilateral measures' by

Sep 21,2017

CBDT: Proposes self-reporting mechanism for income estimates by companies & tax audit cases

CBDT proposes to insert new Rule 39A with a view to create a mechanism for self-reporting of estimates of current

Sep 19,2017

IT Department highlights new SARFAESI requirement to file attachment order with Central Registry

IT Department reminds IRS officers about changes in SARFAESI Act, 2002 (vide amendment in August, 2016), impacting the collection of taxes out

Sep 15,2017

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Litigation Tracker

Sep 08,2017  

SC reserves judgement on taxation of mobilisation/ demobilsation fees for oil rigs u/s 44BB in a batch of 50 appeals

Aug 24,2017  

Delhi HC admits a Chinese company’s (‘assessee’) appeal against ITAT judgement;  ITAT had attributed 35% of net global profits as

Aug 09,2017  

SC to hear IT Department's appeal against Delhi HC judgement in the case of National Petroleum Construction Company (assessee); Reversing ITAT

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