Editor's Pick

ITAT: Disallows cash purchases of land u/s 40A(3) despite not claimed as 'business expense'

Amritsar ITAT treats the land purchase & sale transaction by assessee-individual [dealing in iron/steel, cement, timber, etc.] as

Feb 14,2019

HC: Upholds ITAT order allowing unabsorbed depreciation set-off against LTCG

Bombay HC upholds ITAT order for AY 2008-09, allows set-off of unabsorbed depreciation of earlier years against current

Feb 14,2019

HC: Expense disallowance u/s. 40(a)(ia) for TDS default cannot be invoked in Trust's case pre-April'19

Karnataka HC upholds ITAT order, rules that expense disallowance u/s. 40(a)(ia) for TDS default cannot be invoked in

Feb 12,2019

ITAT: No restriction u/s. 54 on investing capital gains from sale of 'multiple' houses

Mumbai ITAT upholds CIT(A)'s order allowing exemption u/s 54 in respect of long term capital gains ('LTCG') arising

Feb 12,2019

ITAT: Offers lifebuoy to assessee despite several 'unjustifiable' adjournments, imposes exemplary cost

Bangalore ITAT permits assessee-company to raise an additional ground before CIT(A) relating to taxability of management fees, but

Feb 11,2019

ITAT: Rejects firm's deemed dividend addition as partners held shares in personal capacity

Mumbai ITAT deletes deemed dividend addition u/s 2(22)(e) made on assessee (partnership firm) which had taken loan from

Feb 11,2019

HC: HC rules on taxpayer's entitlement for interest on 'seized cash' refund

Bombay HC grants interest u/s. 244A(1)(b) to assessee on refund of cash seized by IT Department pursuant to

Feb 08,2019

HC: Payment by investment advisory company to Mauritian affiliate for 'fund-raising' assistance, deductible u/s. 37

Delhi HC denies to admit Revenue's appeal challenging ITAT order allowing deduction u/s. 37(1) for one time consultancy

Feb 06,2019

HC: Condones delay in seeking TDS refund; Accepts plea of 'inadvertent omission' by CA

Delhi HC condones assessee company's delay in filing application u/s. 119(2)(b) seeking refund of TDS amount for AY

Feb 05,2019

ITAT: Denies presumptive taxation benefit u/s. 44AD to partner on remuneration & interest from firm

Chennai ITAT denies assessee-partner's claim of estimating income on presumptive basis u/s. 44AD with respect to interest and

Feb 05,2019

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