Weekly DT Digest

SC: Sets aside HC order dismissing Revenue's appeal without framing substantial question of law

SC sets aside HC order, holds HC was not justified in dismissing Revenue's appeal without framing substantial question

Apr 18,2019

ITAT: Foreign LLP not “eligible assessee” u/s 144C(15)(b); Quashes draft, final assessment orders

Mumbai ITAT allows assessee's additional ground, finds that assessee [limited liability partnership incorporated in Germany] cannot be termed

Apr 18,2019

ITAT: Assessee-firm's unregistered, non-dated resolution regarding partner's remuneration for Sec. 40(b) purposes, an 'afterthought'

Amritsar ITAT denies assessee-firm's claim of remuneration paid to its partners u/s. 40(b) during AY 2014-15; Notes that

Apr 18,2019

ITAT: DRP route inapplicable if no variation in returned income, tax-rate variation irrelevant

Mumbai ITAT quashes AO's assessment order invoking Sec.144C during AY 2014-15 absent any variation in the income or

Apr 18,2019

ITAT: Gives effect to Third Member order; Money distributed to retiring partner, not 'transfer'

Mumbai ITAT division bench gives effect to Third Member order and rules in favour of assessee (a partnership

Apr 18,2019

ITAT: No denial of housing project related deduction u/s. 80IB(10) for non-receipt of completion certificate

Pune ITAT upholds CIT(A)'s order allowing pro-rata deduction u/s 80-IB(10) to the assessee-developer for completed units, holds that

Apr 18,2019

SC: Dismisses Revenue's SLP challenging Calcutta HC judgment

SC dismisses Revenue's SLP challenging Calcutta HC, wherein HC had deleted Sec. 40(a)(ia) disallowance, and ruled that payment

Apr 12,2019

HC: Assessee-company gets sweet deal; Allows expenditure towards abandoned 'Mawa' project u/s 37(1)

Bombay HC upholds ITAT order for AY 2010-11, allows deduction u/s.37(1) for expenses incurred by assessee-company on abandoned

Apr 12,2019

ITAT: Considers flats allotment-date over sale-agreement date for capital-gains

Mumbai ITAT considers date on letter of allotment of rights in property over Revenue's reliance on date on

Apr 12,2019

ITAT: Allows provision for future expenses, subsequent year reversals not bar

Mumbai ITAT allows provisions made by assessee (ThyssenKrupp)  for future expenses relating Lumpsum Turnkey Projects during AY 2006-07,

Apr 12,2019

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