ANARKALI SARABHAI V. CIT 224 ITR 422 (SC), [1997] 90 TAXMAN 509 (SC)

The Supreme Court held that redemption of preference shares amounted to ‘sale, exchange or relinquishment of asset’ within meaning of section 2(47)(i) Facts of the Case The assessee is an individual and the assessment year under reference is AY 1969-70.  The assessee held 297 redeemable preference shares of Universal Corporation Private Limited a company incorporated […]


OLF (India) Software Pvt Ltd v ACIT [TS-456-ITAT-2021(Bang)-TP] [Judges: Shri Baskaran and Smt Beena Pillai] – The assessee is engaged in rendering software development services to AE. The assessee sought exclusion of Persistent Systems, Aspire Systems, Larsen and Toubro Infotech, Nihilent Technologies, Infosys Ltd, Thirdware Solution & Cybage Software on the ground that these companies […]

TDS on AWS, Mail Chimp, Online Ads – URBAN LADDER HOME DÉCOR SOLUTIONS PVT. LTD [TS-773-ITAT-2021(Bang)]

The Assessment years involved are AY 2015-16, 2016-17 and 2017-18.  The Assessee-Company is engaged in the business of dealing in home décor products and sells its products mainly through online marketing.  The Assessee placed advertisements on the platform of Facebook, Ireland.  The Assessee also used the bulk mail facility offered by M/s Rocket Science Group, […]

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