Editor's Pick

ITAT: Gives effect to Third Member order, Allows set-off of share-trading losses against derivatives profits

Kolkata ITAT division bench gives effect to Third Member order and rules in favour of assessee-company, allows set-off

Nov 15,2019

HC: Quashes AO's lower withholding certificate u/s. 197 in Lufthansa's case; Follows Bently Nevada ruling

Delhi HC quashes lower withholding certificate issued by AO u/s. 197 for AY 2020-21 directing TDS deduction @

Nov 15,2019

HC: Deposit in capital-gains account u/s. 54(2) irrelevant where amount invested in construction within Sec. 54(1) timeline

Madras HC allows assessee's writ against rejection of Sec. 264 revision petition whereby assessee-HUF had sought for enhancement

Nov 15,2019

ITAT: Deletes Sec. 56(2)(viib) addition for share premium received vide cheques, not encashed in relevant AY

Chandigarh ITAT deletes addition u/s. 56(2)(viib) made by AO on account of share capital / premium received vide

Nov 12,2019

HC: Stays criminal proceedings until appeal disposal; Assessment has bearing on prosecution u/s. 276C

Kerala HC stays prosecution proceedings u/s. u/s. 276C [for wilful attempt to evade tax] of the Income-Tax Act 

Nov 12,2019

ITAT: Shareholding in individual capacity, not executor/HUF capacity, relevant for reckoning 'substantial shareholding' u/s 2(22)(e)

Mumbai ITAT upholds CIT(A) order deleting deemed dividend addition u/s 2(22)(e) in hands of assessee-individual [common shareholder] in

Nov 11,2019

ITAT: Non-compete fees received by NR-promoter after stake sale in Indian co., non-taxable absent PE

Mumbai ITAT holds non-compete and non-solicitation fees received by assessee (a non-resident individual) constitutes 'business income', not taxable

Nov 11,2019

ITAT: Assessee's 'penny stock' investment, a device to launder black-money; Denies LTCG exemption

Pune ITAT rejects assessee-individual's LTCG [long term capital gains] exemption claim on sale of penny stock of a

Nov 07,2019

ITAT: Third Member : Condones over 500 days appeal filing delay; Non-communication by Counsel, a “sufficient cause”

Amritsar ITAT Third member concurs with Judicial Member's view, condones delay of 571 days by assessee-company in filing

Nov 06,2019

ITAT: Grants FTC to Tata Consultancy for taxes paid overseas, except in Canada, Finland

Mumbai ITAT grants foreign tax credit [FTC] claimed by Tata Consultancy Service Ltd (assessee) in respect of taxes

Nov 06,2019