Editor's Pick

ITAT: Applying beneficial provisions of Act for one source & treaty for another permissible

While determining service PE threshold, Mumbai ITAT rejects AO’s aggregation of number of days of visit by employees of the assessee (a Singaporean

Oct 19,2018

ITAT: Rejects capital-gains on land introduced upon firm's corporatisation and converted into stock-in-trade

Chennai ITAT deletes capital gains addition upon sale of portions of land (earlier converted from capital asset to stock

Oct 19,2018

ITAT: Hedging contracts with Banks, non-speculative; Allows deduction for premium & interest

Delhi ITAT allows deduction  to assessee co. for amount incurred towards premium and interest components under the hedging contract

Oct 11,2018

ITAT: Sec 40(a)(i) disallowance provision cannot be read into Mauritius treaty while computing PE profits

Delhi ITAT rejects AO’s invocation of Sec. 40(a)(i) disallowance for non-deduction of TDS on salaries paid by assessee

Oct 10,2018

ITAT: Co-op. Society's rental income from mobile towers, house property income, not IFOS

Mumbai ITAT accepts assessee co-operative society’s claim of treating income from letting out space on the building terrace

Oct 10,2018

HC: Upholds penalty; Sale & lease back transaction, 'hurriedly planned act' to claim 100% depreciation

Madras HC upholds penalty levy with respect to depreciation disallowance on machinery for AY 1996-97, holds that assessee-lessor

Oct 09,2018

ITAT: Deletes penalty levied for belated E-TDS returns filing; Grants immunity citing ‘technical glitch’

Mumbai ITAT deletes penalty levied u/s 272A(2)(k) for belated filing of TDS returns/statements by BCCI (assessee) during AY

Oct 08,2018

HC: Imposes Rs. 1.5 lakh cost on Revenue officer for raising demand without valid notice to assessee

Bombay HC imposes cost of Rs. 1.5 lakh on Revenue officials for irreverently adjusting refund due to assessee

Oct 08,2018

HC: Upholds prosecution proceedings initiation; Assessee to prove 'no willful default’ during Trial

Jammu & Kashmir HC dismisses assessee’s writ, upholds prosecution proceedings  initiation u/s 276-C/277 against assessee-individual (proprietor of a

Oct 03,2018

HC: Rejects petitioner’s interim prayer for submitting returns without Sec. 234A interest payment

Kerala HC rejects petitioner’s interim prayer to submit returns within the extended due-date of October 15th without insistence of

Oct 02,2018