Direct tax Weekly Digest

Weekly Digest #11 18 Mar to 24 Mar 2018 4 Rulings

Income tax Appellate Tribunal ITAT:Non-filing of AOP's PAN /I-T return not basis for assessing income in member's hands

Mar 23, 2018

In Favour of : Assessee
Citation Number : TS-134-ITAT-2018(Bang)

Income tax Appellate Tribunal ITAT:Confirms Sec. 69 addition, credit-worthiness of parties not proved; Cites information from US Authorities

Mar 23, 2018

In Favour of : Assessee
Citation Number : TS-135-ITAT-2018(Mum)

High Court HC:Denies exemption u/s 11 absent separate books of accounts for incidental business

Mar 23, 2018

In Favour of : Revenue
Citation Number : TS-136-HC-2018(BOM)

Income tax Appellate Tribunal ITAT:Payment for acquiring management rights of drillship, a capital expenditure eligible for depreciation

Mar 23, 2018

In Favour of : Assessee
Citation Number : TS-132-ITAT-2018(DEL)

Weekly Digest #10 10 Sep to 17 Mar 2018 4 Rulings

Income tax Appellate Tribunal ITAT:Grants conditional stay to Thomson Reuters observing 'prima facie' case in favour

Mar 17, 2018

In Favour of : Assessee
Citation Number : TS-121-ITAT-2018(Mum)

Income tax Appellate Tribunal ITAT:Partnership firm having corporate entities as partners, a consortium eligible for deduction u/s 80IA(4)

Mar 16, 2018

In Favour of : Assessee
Citation Number : TS-118-ITAT-2018(PUN)

Income tax Appellate Tribunal ITAT: Sec. 143(2) notice by non-jurisdictional AO, invalid despite issued within statutory period

Mar 16, 2018

In Favour of : Assessee
Citation Number : TS-120-ITAT-2018(DEL)

Income tax Appellate Tribunal ITAT:Penalty for regularizing construction within byelaws of Slum Rehabilitation Authority allowable u/s 37(1)

Mar 16, 2018

In Favour of : Assessee
Citation Number : TS-119-ITAT-2018(Mum)

Weekly Digest #9 02 Mar to 09 Mar 2018 5 Rulings

Income tax Appellate Tribunal ITAT: Capital Gain taxable in year of entering development agreement; Cites Finance Act 2017 amendment

Mar 08, 2018

In Favour of : Revenue
Citation Number : TS-104-ITAT-2018(HYD)

Income tax Appellate Tribunal ITAT:Reopening invalid sans independent application of mind by Addl. CIT while according sanction

Mar 09, 2018

In Favour of : Assessee
Citation Number : TS-106-ITAT-2018(DEL)

Income tax Appellate Tribunal ITAT:Fees paid for business- development services to subsidiary not FTS under India-Singapore DTAA

Mar 09, 2018

In Favour of : Assessee
Citation Number : TS-107-ITAT-2018(Mum)

High Court HC:Penalty imposed u/s 158BFA(2), 'discretionary' and not 'mandatory' in nature

Mar 09, 2018

In Favour of : Assessee
Citation Number : TS-640-HC-2017(AP)

Income tax Appellate Tribunal ITAT:Considers registration date for determining holding period, absent possession transfer on agreement date

Mar 09, 2018

In Favour of : Revenue
Citation Number : TS-109-ITAT-2018(Bang)

Weekly Digest #8 24 Aug to 01 Mar 2018 5 Rulings

Income tax Appellate Tribunal ITAT:Restores Sec. 12A registration; Mere failure to intimate amended objects, a mere irregularity

Mar 02, 2018

In Favour of : Assessee
Citation Number : TS-92-ITAT-2018(Ahd)

Income tax Appellate Tribunal ITAT:Income accrued earlier not taxable in year of receipt on assessee becoming resident

Mar 02, 2018

In Favour of : Assessee
Citation Number : TS-93-ITAT-2018(CHNY)

Income tax Appellate Tribunal ITAT:Remands matter to AO for identifying real beneficiaries of accommodation entries

Mar 02, 2018

In Favour of : Assessee
Citation Number : TS-94-ITAT-2018(DEL)

High Court HC:Upholds 'transfer' in the year of execution of development agreement, and not POA

Mar 02, 2018

In Favour of : Assessee
Citation Number : TS-95-HC-2018(BOM)

High Court HC:Quashes re-assessment; AO cannot re-visit claim allowed by appellate authority

Mar 02, 2018

In Favour of : Assessee
Citation Number : TS-96-HC-2018(GUJ)

Weekly Digest #6 10 Feb to 16 Feb 2018 5 Rulings

Income tax Appellate Tribunal ITAT:Accepts Rent Capitalisation Method for determining FMV of tenanted properties

Feb 16, 2018

In Favour of : Assessee
Citation Number : TS-638-ITAT-2017(Mum)

Income tax Appellate Tribunal ITAT:Allows LTCG claim, holds 'agreement to sell', not agreement execution, relevant

Feb 16, 2018

In Favour of : Assessee
Citation Number : TS-59-ITAT-2018(JPR)

Income tax Appellate Tribunal ITAT:Confirms addition for notional interest on security deposit received to circumvent real rent

Feb 16, 2018

In Favour of : Revenue
Citation Number : TS-60-ITAT-2018(Mum)

High Court HC:Depreciation allowed under State enactment not to be reduced while determining WDV u/s. 43(6) pre-2010

Feb 16, 2018

In Favour of : Assessee
Citation Number : TS-61-HC-2018(KER)

Income tax Appellate Tribunal ITAT:'Referral-fee' paid by Indian-Branch of Credit Suisse to Dubai-Branch for referring clients not FTS

Feb 16, 2018

In Favour of : Assessee
Citation Number : TS-62-ITAT-2018(Mum)

Weekly Digest #5 26 Jan to 09 Feb 2018 6 Rulings

Supreme Court SC:Dismisses Revenue's SLP against Delhi HC allowing credit of advance - tax paid under IDS -2016

Feb 09, 2018

In Favour of : Assessee
Citation Number : TS-46-SC-2018

Income tax Appellate Tribunal ITAT:Denies exemption u/s 54F due to absence of certainty of honour of sale agreement

Feb 09, 2018

In Favour of : Revenue
Citation Number : TS-47-ITAT-2018(HYD)

Income tax Appellate Tribunal ITAT:Deletes addition u/s 115JB towards subsidized cost debited in accounts as per Companies Act

Feb 09, 2018

In Favour of : Assessee
Citation Number : TS-48-ITAT-2018(Mum)

High Court HC:Quashes reassessment; Reopening reasons, a verbatim repetition of audit objections

Feb 09, 2018

In Favour of : Assessee
Citation Number : TS-633-HC-2017(MAD)

Authority for Advance Rulings AAR:Allows 10 concessional LTCG tax rate to non-resident, follows Delhi HC ruling in Cairn UK

Feb 09, 2018

In Favour of : Assessee
Citation Number : TS-50-AAR-2018

Income tax Appellate Tribunal ITAT:Installation and commissioning fees of machinery installed outside India not FTS, Sec.195 inapplicable

Feb 09, 2018

In Favour of : Assessee
Citation Number : TS-49-ITAT-2018(CHNY)

Weekly Digest #4 20 Jan to 25 Jan 2018 4 Rulings

Income tax Appellate Tribunal ITAT:Formal trust deed not prerequisite for registration u/s 12AA/12A

Jan 24, 2018

In Favour of : Assessee
Citation Number : TS-630-ITAT-2017(Bang)

High Court HC:Grants benefit of presumption u/s. 132(4A), allows expense deduction to extent of seized documents

Jan 25, 2018

In Favour of : Assessee
Citation Number : TS-631-HC-2017(KER)

Income tax Appellate Tribunal ITAT:Denies depreciation on non-compete fees being ineligible intangible asset; Follows jurisdictional HC

Jan 25, 2018

In Favour of : Revenue
Citation Number : TS-31-ITAT-2018(DEL)

Income tax Appellate Tribunal ITAT:Quashes reassessment; Approval wrong authority equivalent to 'no approval'

Jan 25, 2018

In Favour of : Assessee
Citation Number : TS-632-ITAT-2017(Mum)

Weekly Digest #3 13 Jan to 19 Jan 2018 4 Rulings

Income tax Appellate Tribunal ITAT:No Sec. 271D penalty for accepting cash loan from sister-in-law and nephew

Jan 19, 2018

In Favour of : Assessee
Citation Number : TS-22-ITAT-2018(Kol)

Income tax Appellate Tribunal ITAT:Upholds CIT(A)'s order; Deletes book-profit addition towards diminution in current investment value

Jan 19, 2018

In Favour of : Assessee
Citation Number : TS-23-ITAT-2018(Mum)

Income tax Appellate Tribunal ITAT:Supply of software not 'Royalty' under India-Ireland DTAA; Follows co-ordinate-bench

Jan 19, 2018

In Favour of : Assessee
Citation Number : TS-24-ITAT-2018(Mum)

High Court HC:Upholds penalty levy in absence of 'bonafide' explanation substantiating source of unexplained income

Jan 19, 2018

In Favour of : Revenue
Citation Number : TS-25-HC-2018(KER)

Weekly Digest #2 06 Jan to 12 Jan 2018 10 Rulings

High Court HC:Refuses to invalidate return where ITR V filed within extended period

Jan 10, 2018

In Favour of : Assessee
Citation Number : TS-5-HC-2018(DEL)

Income tax Appellate Tribunal ITAT:No Sec. 195 TDS on reimbursement of spares purchased from US parent

Jan 12, 2018

In Favour of : Assessee
Citation Number : TS-621-ITAT-2017(DEL)

Supreme Court SC:Dismisses Revenue's SLP against HC quashing block assessment; Case transfer u/s127 prospective

Jan 12, 2018

In Favour of : Assessee
Citation Number : TS-11-SC-2018

High Court HC:Legal representative liable to comply notice u/s 133(6) on behalf of deceased assessee

Jan 12, 2018

In Favour of : Revenue
Citation Number : TS-12-HC-2018(KAR)

Income tax Appellate Tribunal ITAT:Payment for IT outsourcing services under contract subject to TDS u/s. 194J, not Sec.194C

Jan 12, 2018

In Favour of : Revenue
Citation Number : TS-622-ITAT-2017(Ahd)

Supreme Court SC:Dismisses Revenue's SLP against Delhi HC quashing re-assessment u/s 147 based on audit-report

Jan 12, 2018

In Favour of : Assessee
Citation Number : TS-13-SC-2018

Income tax Appellate Tribunal ITAT:Denies carry forward of unabsorbed depreciation u/s 72A; Amalgamating co not 'industrial undertaking'

Jan 12, 2018

In Favour of : Revenue
Citation Number : TS-623-ITAT-2017(Bang)

High Court HC:Allows indefinite carry forward for pre-2002 unabsorbed depreciation; Follows General Motors (Guj HC)

Jan 12, 2018

In Favour of : Assessee
Citation Number : TS-14-HC-2018(DEL)

Income tax Appellate Tribunal ITAT:Addition u/s 68 not sustainable for inability of donors to establish source

Jan 12, 2018

In Favour of : Assessee
Citation Number : TS-624-ITAT-2017(CHNY)

Income tax Appellate Tribunal ITAT:Sec. 200A amendment enabling Sec. 234E fee collection, prospective ; Follows Sibia Healthcare (co-ordinate bench)

Jan 12, 2018

In Favour of : Assessee
Citation Number : TS-15-ITAT-2018(Ahd)

Weekly Digest #1 23 Dec to 05 Jan 2018 3 Rulings

High Court HC:Can't divest forex gains from export income, allows Sec 10B tax holiday

Jan 02, 2018

In Favour of : Assessee
Citation Number : TS-606-HC-2017(GUJ)

Income tax Appellate Tribunal ITAT: Allows Sec. 80IA deduction for generation of steam power and cooling power

Jan 05, 2018

In Favour of : Assessee
Citation Number : TS-614-ITAT-2017(Mum)

Income tax Appellate Tribunal ITAT:Payment for self-imposed obligation vide Articles of Association, not income diversion

Jan 05, 2018

In Favour of : Revenue
Citation Number : TS-615-ITAT-2017(Mum)

Weekly Digest #38 16 Dec to 22 Dec 2017 3 Rulings

Income tax Appellate Tribunal ITAT:Statements without cross-examination become legally fragile, deletes bogus diamond purchases disallowance

Dec 19, 2017

In Favour of : Assessee
Citation Number : TS-594-ITAT-2017(Kol)

High Court HC:Reverses ITAT order; Holds gift from brother via nephew's bank account, taxable

Dec 22, 2017

In Favour of : Revenue
Citation Number : TS-600-HC-2017(RAJ)

High Court HC:Actual loans advanced amount, not amounts reflected in aging analysis, 'eligible advances' u/s 36(1)(viii)

Dec 22, 2017

In Favour of : Assessee
Citation Number : TS-602-HC-2017(KAR)

Weekly Digest #37 09 Dec to 15 Dec 2017 3 Rulings

High Court HC:Adjusting 'share application money' against sales doesn't amount to cessation of liability

Dec 15, 2017

In Favour of : Assessee
Citation Number : TS-590-HC-2017(ALL)

Income tax Appellate Tribunal ITAT:Succession of sole proprietor by company - taxable transfer, where consideration received other than shares

Dec 15, 2017

In Favour of : Revenue
Citation Number : TS-591-ITAT-2017(Bang)

Income tax Appellate Tribunal ITAT:Denies higher 60 depreciation on 'seismic-survey equipment' ; Holds 'processing' cannot alter equipment's character

Dec 15, 2017

In Favour of : Revenue
Citation Number : TS-592-ITAT-2017(Ahd)

Weekly Digest #36 02 Dec to 08 Dec 2017 4 Rulings

Income tax Appellate Tribunal ITAT:Allows deduction of administrative/selling expenses; Refers ICAI guidance-note for real-estate projects

Dec 08, 2017

In Favour of : Assessee
Citation Number : TS-581-ITAT-2017(DEL)

Income tax Appellate Tribunal ITAT:Rejects revision of reassessment order on issue not raised in reopening reasons

Dec 01, 2017

In Favour of : Assessee
Citation Number : TS-565-ITAT-2017(DEL)

Income tax Appellate Tribunal ITAT:Deletes penalty u/s 271(1)(c) for failure to disclose part-payment on land deal

Dec 08, 2017

In Favour of : Assessee
Citation Number : TS-582-ITAT-2017(ASR)

Income tax Appellate Tribunal ITAT:Holds assessee as 'investor' in shares, rejects taxation of gains as 'business income'

Dec 08, 2017

In Favour of : Assessee
Citation Number : TS-583-ITAT-2017(Kol)

Weekly Digest #35 25 Nov to 01 Dec 2017 7 Rulings

High Court HC:Denies adjustment upto Rs.20,000 threshold u/s 269SS for 'cash' loan, upholds penalty

Dec 01, 2017

In Favour of : Assessee
Citation Number : TS-562-HC-2017(ALL)

Income tax Appellate Tribunal ITAT:Deletes penalty levied in absence of specific charge in standard - printed notice issued u/s 274 r.w.s. 271(1)(c)

Dec 01, 2017

In Favour of : Assessee
Citation Number : TS-563-ITAT-2017(Mum)

Income tax Appellate Tribunal ITAT:Deletes disallowance u/s 40(a)(ia) for payment under cost sharing agreement; Upholds reimbursement plea

Dec 01, 2017

In Favour of : Assessee
Citation Number : TS-560-ITAT-2017(Mum)

High Court HC:Allows additional depreciation u/s 32(1)(iia) on machinery used for production of ready mix concrete

Dec 01, 2017

In Favour of : Assessee
Citation Number : TS-564-HC-2017(MAD)

Income tax Appellate Tribunal ITAT:Holds 'Tax' effect for maintainability of appeal as exclusive of education cess

Dec 01, 2017

In Favour of : Assessee
Citation Number : TS-561-ITAT-2017(Mum)

High Court HC:No addition u/s 68 in the first year of business; Distinguishes Kapur Brothers

Dec 01, 2017

In Favour of : Revenue
Citation Number : TS-567-HC-2017(ALL)

Income tax Appellate Tribunal ITAT:Interest earned on FDs, inextricably linked with the project, capital receipt, not IFOS

Dec 01, 2017

In Favour of : Assessee
Citation Number : TS-566-ITAT-2017(Mum)

Weekly Digest #34 12 Nov to 24 Nov 2017 6 Rulings

Income tax Appellate Tribunal ITAT:Receipt of trivial refundable security on JDA execution, not taxable as capital gains

Nov 24, 2017

In Favour of : Assessee
Citation Number : TS-542-ITAT-2017(Bang)

Income tax Appellate Tribunal ITAT: Deletes addition of on-money receipt against disputed land ; Absent corroborative evidence

Nov 24, 2017

In Favour of : Assessee
Citation Number : TS-543-ITAT-2017(Ahd)

Income tax Appellate Tribunal ITAT:Rejects business loss claim for write-off of rental deposit

Nov 24, 2017

In Favour of : Revenue
Citation Number : TS-544-ITAT-2017(Bang)

Income tax Appellate Tribunal ITAT: Taxpayer's share transaction, not bogus merely because SEBI initiated investigation against broker

Nov 24, 2017

In Favour of : Assessee
Citation Number : TS-545-ITAT-2017(Mum)

Income tax Appellate Tribunal ITAT:Milk processing unit transfer, slump-sale u/s. 50B; Rejects 'only specific assets transfer' plea

Nov 24, 2017

In Favour of : Revenue
Citation Number : TS-546-ITAT-2017(PUN)

High Court HC:Revision Petition u/s 264 maintainable, not availing appeal remedy no bar for availing right u/s. 264

Nov 24, 2017

In Favour of : Assessee
Citation Number : TS-547-HC-2017(DEL)

Weekly Digest #33 04 Nov to 11 Nov 2017 16 Rulings

High Court HC:Upholds deletion of Sec. 40(A)(3) disallowance, cash purchases from individual agriculturist below prescribed-limit

Nov 08, 2017

In Favour of : Assessee
Citation Number : TS-500-HC-2017(KER)

Income tax Appellate Tribunal ITAT:Providing an extract of 'reasons to believe' not sufficient, quashes re-opening

Nov 08, 2017

In Favour of : Assessee
Citation Number : TS-501-ITAT-2017(Mum)

Income tax Appellate Tribunal ITAT:Sec. 234B/C interest payable on MAT liability, dismisses taxpayer's appeal

Nov 08, 2017

In Favour of : Revenue
Citation Number : TS-502-ITAT-2017(DEL)

Income tax Appellate Tribunal ITAT:Sec.54EC deduction on minor's income permissible in addition to assessee's claim u/s. 54EC

Nov 11, 2017

In Favour of : Assessee
Citation Number : TS-509-ITAT-2017(PUN)

Income tax Appellate Tribunal ITAT:Allows deduction for commission paid to director-cum-shareholder, rejects treatment as 'dividend payment'

Nov 11, 2017

In Favour of : Assessee
Citation Number : TS-510-ITAT-2017(Mum)

Income tax Appellate Tribunal ITAT:Sales-tax subsidy given to taxpayer post accomplishment of project, a revenue receipt

Nov 11, 2017

In Favour of : Assessee
Citation Number : TS-511-ITAT-2017(DEL)

Income tax Appellate Tribunal ITAT:Deletes undisclosed income addition for Katrina Kaif

Nov 11, 2017

In Favour of : Assessee
Citation Number : TS-512-ITAT-2017(Mum)

High Court HC:Condones delay for investing capital-gains in infrastructure bonds beyond prescribed period u/s. 54EC

Nov 15, 2017

In Favour of : Assessee
Citation Number : TS-519-HC-2017(KAR)

Income tax Appellate Tribunal ITAT:Advance received from clients in fiduciary capacity, not taxable for law firm

Nov 15, 2017

In Favour of : Assessee
Citation Number : TS-520-ITAT-2017(DEL)

Income tax Appellate Tribunal ITAT:Sec. 201(1A) interest liability ceases from deductee's return-filing date, AO to verify whether taxes paid

Nov 15, 2017

In Favour of : Assessee
Citation Number : TS-521-ITAT-2017(HYD)

Income tax Appellate Tribunal ITAT:Deletes interest disallowance; Acquiring shares from MD not diversion of 'interest bearing funds'

Nov 13, 2017

In Favour of : Assessee
Citation Number : TS-514-ITAT-2017(VIZ)

Income tax Appellate Tribunal ITAT:Forward exchange contracts loss for hedging receivables is business & not speculation loss

Nov 17, 2017

In Favour of : Both, Partially
Citation Number : TS-526-ITAT-2017(VIZ)

Income tax Appellate Tribunal ITAT:Deletes penalty u/s. 271(1)(c) for AO's invocation of wrong limb while recording satisfaction

Nov 17, 2017

In Favour of : Assessee
Citation Number : TS-527-ITAT-2017(PUN)

Income tax Appellate Tribunal ITAT:Holds that payment made to pigmy - agents is salary, not commission to attract TDS u/s 194H

Nov 17, 2017

In Favour of : Assessee
Citation Number : TS-530-ITAT-2017(Bang)

Income tax Appellate Tribunal ITAT:Quashes penalty proceedings, as excess claim u/s. 90 rectified voluntarily through revised returns

Nov 17, 2017

In Favour of : Assessee
Citation Number : TS-531-ITAT-2017(DEL)

Income tax Appellate Tribunal ITAT:Acquiring master copy of software with right for modification, amounts to royalty

Nov 18, 2017

In Favour of : Both, Partially
Citation Number : TS-533-ITAT-2017(JPR)

Weekly Digest #32 28 Oct to 03 Nov 2017 6 Rulings

High Court HC:Reverses ITAT; Including 'Bank' in co-operative society's name cannot disentitle Sec. 80P benefit

Nov 03, 2017

In Favour of : Assessee
Citation Number : TS-488-HC-2017(AP)

Income tax Appellate Tribunal ITAT:Earnest money receipt irrelevant for construing 'year of transfer', deletes capital-gains addition

Nov 03, 2017

In Favour of : Assessee
Citation Number : TS-490-ITAT-2017(Mum)

Income tax Appellate Tribunal ITAT:Considers FMV of the property as cost of acquisition in year of sale of property

Nov 03, 2017

In Favour of : Assessee
Citation Number : TS-491-ITAT-2017(Mum)

High Court HC:After Kerala, Madras HC grants interim relief, allows taxpayer to file return sans Aadhaar

Nov 03, 2017

In Favour of : Assessee
Citation Number : TS-492-HC-2017(MAD)

Income tax Appellate Tribunal ITAT:Payment for Inspection - services, not FIS under US treaty; Deletes Sec. 40(a)(i) disallowance

Nov 03, 2017

In Favour of : Assessee
Citation Number : TS-493-ITAT-2017(DEL)

Income tax Appellate Tribunal ITAT:Only core income from shipping activity & incidental receipts eligible for Tonnage Tax Scheme

Nov 03, 2017

In Favour of : Revenue
Citation Number : TS-494-ITAT-2017(VIZ)

Weekly Digest #31 19 Oct to 27 Oct 2017 3 Rulings

Income tax Appellate Tribunal ITAT:Denies Sec. 11 exemption noting assessee-trust involved in commercial activities

Oct 27, 2017

In Favour of : Revenue
Citation Number : TS-472-ITAT-2017(Kol)

High Court HC:Upholds ITAT order; Gains on sale of industrial gala, short term u/s. 50

Oct 27, 2017

In Favour of : Assessee
Citation Number : TS-473-HC-2017(BOM)

High Court HC:Payment by Hospital to retainer doctors , professional fees and not salary

Oct 27, 2017

In Favour of : Assessee
Citation Number : TS-474-HC-2017(RAJ)

Weekly Digest #30 14 Oct to 18 Oct 2017 4 Rulings

Income tax Appellate Tribunal ITAT:Considers Indian traditions, grants partial relief for ornaments received by relatives sans evidence

Oct 18, 2017

In Favour of : Both, Partially
Citation Number : TS-463-ITAT-2017(Mum)

High Court HC:No Sec. 194J TDS on payments by Bus stand management authority to State corporation

Oct 18, 2017

In Favour of : Assessee
Citation Number : TS-464-HC-2017(HP)

Income tax Appellate Tribunal ITAT: Reckons property holding period from date of sale-deed, not allotment letter

Oct 18, 2017

In Favour of : Revenue
Citation Number : TS-466-ITAT-2017(Mum)

High Court HC:Directs ITSC to consider settlement application on merits for 'comprehensive' examination of matter

Oct 18, 2017

In Favour of : Assessee
Citation Number : TS-465-HC-2017(DEL)

Weekly Digest #29 07 Oct to 13 Oct 2017 3 Rulings

Income tax Appellate Tribunal ITAT:Rejects AO's backdoor entry to initiate re-assessment taking shelter of Sec 150's extended timeline

Oct 13, 2017

In Favour of : Assessee
Citation Number : TS-457-ITAT-2017(JPR)

Income tax Appellate Tribunal ITAT:Allows interest-deduction of closed units to operational unit in light of pending winding-up proceedings

Oct 13, 2017

In Favour of : Assessee
Citation Number : TS-458-ITAT-2017(DEL)

Income tax Appellate Tribunal ITAT: Sec 54B capital gains relief available though new property purchased without registration

Oct 13, 2017

In Favour of : Assessee
Citation Number : TS-459-ITAT-2017(CHANDI)