Weekly DT Digest

ITAT: Holds property not transferred in year of entering into JDA absent handing-over of possession

Chennai ITAT holds that transfer of property by assessee under Joint Development Agreement (JDA) took place in subsequent

Aug 17,2018

HC: Upholds commission disallowance, ITAT’s finding not perverse merely because another finding / conclusion possible

Delhi HC upholds ITAT order disallowing expenditure of Rs.1 crore paid as commission by assessee-company (agent of Korean

Aug 17,2018

HC: Directs ITAT to examine whether Company incorporated under ROC Sikkim Act constitutes Indian co. u/s. 2(26)

Delhi HC directs ITAT to examine as to whether the assessee company (incorporated under Registration of Companies (Sikkim)

Aug 17,2018

ITAT: Deletes capital-gains adjustment u/s 115JB, accepts authenticity of accounts prepared under Companies Act

Mumbai ITAT deletes adjustment made by AO towards capital gains arising to assessee-company on sale of property during

Aug 17,2018

ITAT: Allows deduction for ‘freebies’ to doctors, MCI regulations inapplicable to Pharma Co

Mumbai ITAT allows deduction u/s 37 to a Pharma co. (‘assessee’) in respect of freebies given to doctors

Aug 10,2018

HC: Treats payment for getting rid of encumbrances in property as part of 'acquisition cost'

Calcutta HC dismisses Revenue’s appeal,  rules that "the cost of getting rid of the encumbrances in any immovable property

Aug 10,2018

SC: Dismisses SLP against HC rejecting capital-gains taxability on asset revaluation by firm

SC dismisses Revenue’s SLP challenging Bombay HC order, both on the grounds of delay and merits; During relevant

Aug 10,2018

ITAT: Allows interest deduction to builder for loan taken for acquiring development rights

Mumbai ITAT allows interest deduction u/s 36(1)(iii) to assessee(builder & developer) for loan taken for the purpose of

Aug 10,2018

HC: Directs CBDT to allow filing of IT return without furnishing Aadhaar No.

Delhi HC allows assessees’ writ and directs CBDT to issue an appropriate direction and create a platform by

Jul 27,2018

ITAT: Labour payments through maistries, not a contract, Sec. 194C inapplicable

Visakhapatnam ITAT holds that the payments made by assessee (engaged in the business of transport and other allied

Jul 27,2018

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