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- ASSISTANT COMMISSIONER OF INCOME TAX & ANR. VS MAERSK GLOBAL SERVICES CENTRE (I) P. LTD. & ANR.
BOMBAY TRIBUNAL, Apr 19, 2018 1. The appeal is filed by Revenue, being ITA No. 944/Mum/2016 for assessment year (A.Y.) 2011-12 , and Cross Objections bearing no. 50/Mum/2016 arising out of appeal in ITA No. 944/Mum/2016 for AY 2011-12 are filed by the assessee and both the appeal as well CO are directed against assessment Order dated 29-12-2015 passed by learned Assessing Officer(hereinafter called “the AO”) u/s... - ABAD TRUST VS ASSISTANT DIRECTOR OF INCOME TAX
COCHIN TRIBUNAL, Apr 19, 2018 1. This appeal at the instance of the assessee is directed against the order of the Commissioner of Income-tax dated 29.02.2015. The relevant assessment year is 2007-2008. 2. The grounds raised read as follows:- “1. The order of the Commissioner of Income Tax (Appeals) is bad in law and opposed to facts and circumstances of the case to the extent objected to hereunder... - ASSISTANT COMMISSIONER OF INCOME TAX & ANR. VS SWASTIK PIPES LTD. & ANR.
DELHI TRIBUNAL, Apr 18, 2018 1. This order shall dispose-off all the above departmental appeals and the cross objections filed by the assessee on identical issues. 2. We have heard the learned Representatives of both the parties and perused the material on record... - GARG BROTHERS PVT. LTD. & ORS. VS DEPUTY COMMISSIONER OF INCOME TAX & ORS.
KOLKATA TRIBUNAL, Apr 18, 2018 When AO had framed assessment u/s 153A as per law and adopted one of courses permissible in law, then even if it had resulted in loss to revenue, said decision of AO could not be treated as erroneous and prejudicial to interest of revenue u/s 263 - PRINCIPAL COMMISSIONER OF INCOME TAX VS N. S. SOFTWARE (FIRM)
HIGH COURT OF DELHI, Apr 18, 2018 I. FACTS 1. This appeal has been filed under Section 260A of the Income Tax Act, 1961 (“the Act”) for the Assessment Year (AY) 2009-10 against order dated 28.02.2017 of the Income Tax Appellate Tribunal (TTAT’ hereafter)... - INCOME TAX OFFICER & ANR. VS ATHIRAMPUZHA REGIONAL SERVICE COOPERATIVE BANK LTD. & ANR.
COCHIN TRIBUNAL, Apr 17, 2018 A credit Society registered as such under the Kerala Co-operative Societies Act, 1969, is entitled to the benefit of deduction u/s 80P(2) of the Income-tax Act. - MARUTI ESTATES (INDIA) PVT. LTD. VS ASSISTANT COMMISSIONER OF INCOME TAX
CUTTACK TRIBUNAL, Apr 17, 2018 1. This is an appeal filed by the assessee against the order of the CIT(A)-1, Bhubaneswar dated 13.1.2017 for the assessment year 2004-05. 2. This appeal is time barred by 108 days. The assessee has filed condonation petition supported with an affidavit requesting to condone the delay... - DEPUTY COMMISSIONER OF INCOME TAX & ORS. VS ORISSA MINERALS DEVELOPMENTS CO. LTD. & ORS.
KOLKATA TRIBUNAL, Apr 17, 2018 Per Bench: 1. These appeals by the Revenue as well as the assessee and the cross objection by the assessee arise out of the common order of the Learned Commissioner of Income Tax(Appeals)-2, Kolkata [in short the ld CIT(A)] in Appeal No... - ASSISTANT COMMISSIONER OF INCOME TAX & ANR. VS ZEE MEDIA CORPORATION LTD. & ANR.
BOMBAY TRIBUNAL, Apr 16, 2018 In the absence of any cogent evidence on record, addition made solely based on AIR information is not sustainable. - KNIGHT RIDERS SPORTS PVT. LTD. & ANR. VS ASSISTANT COMMISSIONER OF INCOME TAX & ANR.
BOMBAY TRIBUNAL, Apr 16, 2018 1. These are the cross appeals filed by the assessee and Revenue against the order of CIT(A)-52, Mumbai dated 02/09/2018 for A.Y.2009-10 in the matter of penalty imposed u/s.271(1)(c) of the IT Act. 2. At the outset, learned AR placed on record the order of the Tribunal in quantum appeal, wherein addition so made by the AO and confirmed by the CIT(A) was deleted by the Tribunal with respect to disallowance made on account of expenses paid to Cricket Association of Bengal, fee paid to John Buchanan and payment for participation in the fashion show... - CIRCULAR NO. 02/2018, DATED: 15-02-2018 CIRCULAR INCOME-TAX ACT Finance Act, 2017 ? Explanatory Notes to the Provisions of the Finance Act, 2017 CIRCULAR NO. 2/2018, DATED THE 15th OF FEBRUARY, 2018 AMENDMENTS AT A GLANCE Section/Schedule Particulars / Paragraph number Finance Act, 2017 First Schedule Rate Structure, 3...
- ORDER, DATED: 12-02-2018 In exercise of powers conferred under section 138(1)(a) of Income tax Act, 1961 ('Act'), the Central Board of Direct taxes hereby directs that Principal Director General of Income-tax (Systems), New- Delhi (Pr. DGIT(Systems)) shall be the specified authority for furnishing the information to the Chief Executive Officer, Government e Marketplace (GeM) as notified vide Notification No………...
- F. No. 370149/20/2018-TPL, Dated: 04-02-2018 Under the existing regime, long term capital gains arising from transfer of long term capital assets, being equity shares of a company or a unit of equity oriented fund or a unit of business trust, is exempt from income-tax under clause (38) of section 10 of the Act...
- CIRCULAR NO. 01/2018, DATED: 10-01-2018 Order under section 119 of the Income-tax Act, 1961 Sub-clause (vi, of clause (a) of sub-section (1) of section 143 of the Income-tax Act, 1961 ('Act') as introduced vide Finance Act, 2016, w.e.f. 01.04.2017, while processing the return of income, prescribes that the total income or loss shall be computed after making adjustment for addition of income appearing in Form 26AS or Form 16A or Form 16 (the three Forms) which has not been included in computing the total income in the return...
- CIRCULAR NO. 29/2017, DATED: 05-12-2017 Reference is invited to Circular No. 01/2017 dated 02.01.2017 whereby the rates of deduction of income-tax from the payment of income under the head "Salaries" under Section 192 of the Income-tax Act, 1961 (hereinafter ‘the Act'), during the financial year 2016-17, were intimated...
- NOTIFICATION NO. 20/2018, DATED: 12-04-2018 S.O. 1589(E).—Whereas the Protocol, amending the Convention between the Government of the Republic of India and the Government of the Republic of Kazakhstan for the avoidance of double taxation and the prevention of fiscal e...
- NOTIFICATION NO. 19/2018, DATED: 11-04-2018 S.O.1558.(E).— In exercise of the powers conferred by section 295 read with section 9A of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:- 1...
- NOTIFICATION NO. 18/2018, DATED: 09-04-2018 G.S.R. 352(E).—In exercise of the powers conferred by section 139A read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:— 1...
- NOTIFICATION NO. 17/2018, DATED: 06-04-2018 S.O. 1517(E).—In exercise of the powers conferred by section 295, read with sub-clause (ii) of clause (14) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:- (1) Short title, Commencement and application...
- NOTIFICATION NO. GSR. 254E, DATED: 21-03-2018 G.S.R. 254(E).—In exercise of the powers conferred by the proviso to article 309 of the Constitution, the President hereby makes the following rules to amend the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, Tax Assistant Group C Posts, Recruitment Rules, 2015, namely:- 1...
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 | India’s focus on anti-abuse provisions in tax treaties with speci... |
Samir Shah, Sr Mgr, Jason Sanctis, Deputy Mgr, Deloitte Haskins & Sells LLP
On March 19, 2018, India and Hong Kong signed Double Taxation Avoidance Agreement (DTAA). The DTAA will stimulate the inflow of investment, technology and personnel. The DTAA improves tax transparency, curbs ta....
More  | Assessing the efficacy of grandfathering relief under India-Mauri... |
Daksha Baxi, Executive Dir, Ankit Namdeo, Associate, International Tax Practice at Khaitan & Co, Mumbai
The AAR has recently released two contrasting rulings, one where it upheld the eligibility to the Treaty benefit and granted exemption from capital gains tax to a Mauritian resident on capital gains arising fro....
More  | Direct Tax Code-What to Expect |
Namrata Arora, Sr Mgr, Sagar Chaturvedi, Assistant Mgr, Deloitte Haskins and Sells LLP
The fate of DTC had always been under a question. However, on account of continuous action from the government and the constitution of the task force to draft a new legislation, one can expect DTL to be enacted....
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