Rulings

Rulings

May 17,2019

Chandigarh ITAT denies registration u/s.12AA to the assessee-trust (franchisee of Zee Learn) for AY 2017-18, holds trust's activities not to be of charitable nature; ITAT rejects assessee's contention that Trust

May 17,2019

Delhi HC dismisses Revenue's appeal against ITAT order allowing expenditure on royalty payment as revenue expenditure for AY 2010-11, distinguishes SC ruling in assessee's own case; Notes that ITAT had

May 17,2019

Delhi HC arrives at a considered prima facie view that the Central Government could not have exercised powers to issue notifications u/s. 85 and 86 of the Black Money (Undisclosed

May 16,2019

Jaipur ITAT sets aside preference shares valuation for Sec.56(2)(viib) purposes to the file of AO, however, upholds invocation of Sec.56(2)(viib) for excess share premium received by assessee co. upon issue

May 15,2019

Ahmedabad ITAT restores assessee's appeal to the file of CIT(A) for adjudication on merits, holds CIT(A) not justified in dismissing the appeal for non-filing of appeal in electronic mode as

May 14,2019

Karnataka HC division bench rejects Revenue's plea that appeal filing monetary limits prescribed by CBDT (vide Circular dated February 5, 2019) are not applicable to writ matters, dismisses Revenue's writ

May 14,2019

Amritsar ITAT sets-aside CIT(A)'s order for AY 2013-14 allowing deduction u/s.80-IB to assessee for its new unit, directs AO to examine if the new unit independently satisfied the conditions of

May 13,2019

Mumbai ITAT holds that interest on corpus fund cannot be taxed in the hands of assessee-builder for AY 2012-13, since the corpus fund itself cannot be considered as income of

May 10,2019

Cochin ITAT rules that assessee's (a signals distribution and cable networking company) expenditure on purchase of Set Top Boxes (STB) is capital in nature for AY 2014-15, upholds AO's order

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