Editor's Pick

ITAT: Capital reserve created on Amalgamation, not 'revaluation reserve'; Deletes book profit adjustment

Delhi ITAT deletes AO's adjustment to book-profit u/s 115JB by treating capital reserve created on amalgamation (excess arising

Mar 15,2019

ITAT: Quashes over Rs.750 cr. assessment on Tata Sons, Addl. CIT lacked 'jurisdiction' to pass order u/s.143(3)

Mumbai ITAT quashes assessment order passed u/s.143(3) by the Additional CIT (by way of exercising powers of AO)

Mar 15,2019

ITAT: Deletes Sec.69 addition; Transaction between JV-partners can't be considered on commercial basis

Hyderabad ITAT rules in favour of assessee-AOP [formed to carryout the business of Joint Venture Maytas - CTR

Mar 13,2019

ITAT: Court induced adjournment mandates stay extension, notwithstanding Revenue reliance on SC ratio

Delhi ITAT accedes to assessee's stay application and grants further extension of stay of demand beyond 6 months

Mar 13,2019

SC: Dismisses Revenue's SLP challenging Sec. 194C TDS applicability on channel placement fees

SC dismisses Revenue's SLP challenging Bombay HC order in case of a Broadcasting co. [assessee]; HC had relied

Mar 13,2019

HC: Settlement Commission cannot give retrospective effect to order invalidating settlement application

Bombay HC rules that Settlement Commission [ITSC] was not justified in giving retrospective effect to the order invalidating

Mar 11,2019

ITAT: No Sec. 68 addition for share premium charged in excess of FMV valuation as per Rule 11UA

Mumbai ITAT deletes addition u/s 68 towards excess share premium received from issue of shares to Mauritian co.

Mar 08,2019

ITAT: UAE Co.'s management fees constitutes 'business income' absent specific FTS-article; Directs PE examination

Bengaluru ITAT rules that consideration received by assessee (a UAE based company) from its Indian counterpart pursuant to

Mar 07,2019

SC: Rules on deductibility of 'excessive' sugarcane purchase price paid by sugar manufacturers

SC sets aside lower appellate authorities order holding that sugarcane purchase price paid by sugar manufacturer (assessee society)

Mar 06,2019

SC: Directs Settlement Commission to re-decide interest waiver issue considering Ghaswala & Brij Lal ruling

SC sets aside HC order regarding waiver of interest u/s 234A,B and C in settlement proceedings, remands matter

Mar 05,2019