Editor's Pick

ITAT: Quashes Sec. 263-order, AO’s acceptance of fictitious capex & bogus shares nexus, ‘permissible view’

Mumbai ITAT quashes revision u/s 263 made by Pr.CIT on the grounds that there was no nexus between

Dec 07,2018

ITAT: Rejects 'improper notice service plea' citing authorised representative's 'no objection’ before AO

Pune ITAT rules that service of notice u/s. 143(2) on the manager of assessee-firm and not partners, would

Dec 06,2018

ITAT: Allows ICC sponsorship fees; Benefit to group companies irrelevant for Sec. 37(1) deduction

Delhi ITAT allows deduction u/s. 37(1) to PepsiCo India (assessee) for sponsorship fees paid to ICC during AY

Dec 05,2018

ITAT: 'Strengthening' of existing road not ‘widening’; Denies relief u/s 80IA(4) for highway project

Bangalore ITAT rules that strengthening and maintaining of the existing road would not come within the purview of

Dec 04,2018

ITAT: No TDS obligation on royalty towards 'bundled software' until license key activation

Ahmedabad ITAT deletes disallowance u/s 40(a)(i) for TDS non-deduction on provision for liability in respect of royalty payable

Nov 23,2018

ITAT: NRI’s Swiss bank deposits, non-taxable sans AO establishing nexus with India sourced income

Mumbai ITAT deletes addition u/s. 68/69 in hands of assessee-individual (a non-resident) relating to deposits found in HSBC

Nov 22,2018

HC: Upholds penalty levy u/s. 271C on deductor-Bank despite TDS deducted & deposited before year closing

Allahabad HC upholds ITAT order, rules that deduction of TDS on interest income before close of the financial

Nov 22,2018

HC: Upholds ITAT; Undertaking’s Sec. 10B claim not affected by change in ownership / merger

Karnataka HC upholds ITAT order allowing Sec.10B deduction to assessee-firm (a 100% EOU) for AY 2009-10, clarifies that

Nov 21,2018

ITAT: Deletes Rs.598 Cr. addition; Hefty share-premium no ground to doubt transaction genuineness u/s. 68

Mumbai ITAT upholds CIT(A)’s order, deletes Sec. 68 addition on account of share premium of Rs. 598.44 cr.

Nov 20,2018

ITAT: Dismisses cross-objection as issue not agitated before lower authorities

Delhi ITAT dismisses assessee’s (a manufacturer of consumer products) cross objection (CO) for AY 1998-99 since the issue

Nov 19,2018