Editor's Pick

ITAT: Builder's stock-in-trade excluded from Sec. 56(2)(vii)(b) clutches regarding property receipt for inadequate consideration

Jaipur ITAT rules that Sec.56(2)(vii)(b)(ii) cannot be invoked with respect to land purchased by assessee-individual (engaged in real

May 03,2019

HC: Expresses anguish at ITAT upholding dubious penalty levy, suspects 'coercion' by Department

Madras HC quashes ITAT order upholding penalty levy u/s.271(1)(c), holds that the lower authorities, right from the AO,

May 02,2019

HC: Directs expeditious release of Vodafone Idea's refund; System lapse in rectifying TDS mismatch irrelevant

Bombay HC directs release of refund of Rs. 21 cr. arising to Vodafone Idea Ltd. (assessee) out of

May 02,2019

ITAT: DVO's Valuation Report obtained for sec.50C purposes, can be challenged in appeal

Ahmedabad ITAT holds that the valuation report of the Departmental Valuation Officer (DVO) u/s.50C(2) can be challenged before

Apr 30,2019

HC: Payment for lounge services by Jet Airways not rent, TDS u/s.194-I inapplicable

Bombay HC rules against the Revenue, holds that payment by Jet Airways (assessee) for usage of lounge space

Apr 29,2019

ITAT: Advertisement hoardings rent of developer taxable as 'house property income', not IFOS

Mumbai ITAT rules that rent received by assessee-firm (builders and developers) during AY 2011-12 for giving permission to

Apr 29,2019

ITAT: Dismisses Revenue's plea in MA to bring Flipkart's 'foregone profits' under tax net

Bangalore ITAT dismisses Revenue's MA, declines to rectify its earlier order whereby it had quashed Revenue's attempt to

Apr 26,2019

ITAT: Salary received in NRE A/c for services rendered in Nigeria, not taxable in India

Kolkata ITAT holds that salary received by assessee-individual in his NRE A/c in India for services rendered in

Apr 25,2019

ITAT: Rejects AO's adoption of cost of acquisition u/s 49(1) for MAT purposes

Mumbai ITAT deletes addition made by AO to the book profit by adopting cost of acquisition of shares

Apr 24,2019

ITAT: Unrealised forex gains taxability on forward contracts can't be deferred till settlement

Mumbai ITAT upholds CIT's order u/s. 263, rejects Tata Consultancy Services' (TCS, assessee) claim of deduction for mark

Apr 23,2019