Weekly DT Digest

ITAT: Sec.12AA registration cannot be denied if books not-maintained regarding Pharmacy located inside Hospital

Ranchi ITAT allows assessee-society's appeal for AY 2018-19, rules that CIT(E) was unjustified in denying grant of registration

May 10,2019

SC: Sets aside HC order denying extension of time-limit for installment payment under IDS, 2016

SC sets aside HC order denying to grant extension of time for payment of third installment under the

May 10,2019

SC: Dismisses SLP against block assessment quashing for non-issuance of Sec.143(2) notice

SC dismisses Revenue's SLP challenging Gujarat HC order quashing block-assessment u/s. 158BC, on the ground that no formal

May 10,2019

ITAT: 'Managerial services' not covered under FTS definition under India-Netherlands DTAA

Mumbai ITAT holds that payment made by Indian subsidiary to assessee (the Netherlands company) for rendering management services

May 10,2019

ITAT: AO cannot whimsically decline assessee's valuation-method, accepted in succeeding AY for Sec.56(2)(viib) purposes

Jalandhar ITAT dismisses Revenue's appeal for subject AY 2013-14, rules that AO cannot whimsically decline the DCF method

May 10,2019

ITAT: Consultancy services rendered for export outside India not taxable u/s 9(1)(vii)

Ahmedabad ITAT holds that consultancy fee paid by assessee to non-resident for the professional services having rendered outside

May 10,2019

ITAT: Allows deduction of 'provision of card receivable write-back' to NBFC for MAT purposes

Mumbai ITAT allows deduction of write-back on 'provision of card receivable' to assessee- company(a NBFC engaged in financing

May 10,2019

ITAT: Land with structures used for manufacturing purposes, not exigible to Wealth Tax

Kolkata ITAT rules that land with structures owned by a firm (in which the assessee-individual was a partner

May 09,2019

ITAT: Holding period for shares allotted in BSE pursuant to demutualization would include membership-card holding period

Kolkata ITAT holds that period of holding of equity shares allotted in in pursuance to demutualisation of a

May 06,2019

ITAT: 'Processing and raising' of Tea plantation, mandatory for Sec. 80IC deduction; Denies taxpayer's claim

Kolkata ITAT rules in favour of Revenue, denies Sec. 80IC(2)(b) deduction to assessee (an Assam based Team manufacturer) 

May 06,2019