HC

HC: Holds conversion of higher carat to lower carat gold as manufacture; Grants Sec.80-IB deduction

Jammu and Kashmir HC affirms ITAT order , holds that for AY 2010-11 processes employed by assessee for converting 24 carat standard gold into 22 carat gold ornaments amount to manufacture and

Aug 23,2017

HC: Allows deduction u/s. 37, commission-payment to Jordan-based agent not illicit under Volcker-report

Bombay HC affirms ITAT order, holds that for AYs 2000-01 to 2003-04 assessee-company’s commission payment to a Jordan based company (assessee’s agent for business in Iraq) were not in the

Aug 23,2017

HC: Allows Trust's depreciation claim, Finance Act 2014 amendment not retrospective

Madras HC allows assesse’s (a charitable trust) depreciation claim on fixed assets, cost of which was already allowed as 'application of income' w.r.t. AY prior to April 1, 2015, rejects

Aug 23,2017

HC: Allows trust's claim for depreciation and capital cost deduction before AY 2015-16

Karnataka HC holds that prior to April 1, 2015 depreciation is allowable as deduction in computing the total income of a charitable trust u/s. 11 even though the amount spent

Aug 23,2017

HC: Restrains Vodafone from pursuing parallel arbitrations under Netherlands & UK BIPA for identical reliefs

Delhi HC restrains Vodafone Group Plc. UK (defendant) from initiating parallel arbitration proceedings under India-UK Bilateral Investment Promotion and Protection Agreement (‘BIPA’), while the arbitration under India-Netherlands BIPA is pending;

Aug 23,2017

HC: Holds non-compete agreement as genuine recognizing taxpayer’s stature in advertising industry

Delhi HC confirms ITAT order for AY 1995-96, holds that non-compete fee received by assessee-individual (who was working as the President of TSME, an advertising agency and was holding 51%

Aug 22,2017

HC: Upholds assessee's writ; Withdrawal of earlier deduction claims eligible for settlement u/s 245C

Bombay HC allows assessee-company’s ( a step-down subsidiary company of the Norway based Telenor Group) writ, sets-aside Income-tax Settlement Commission (‘ITSC’) order rejecting assessee’s settlement application on the ground that assessee failed to

Aug 22,2017

HC: Film artist's non-compete arrangement only a smoke screen, payment taxable as revenue receipt

Madras HC reverses ITAT order for AY 2001-02, confirms taxation of non-compete fee received by assessee-individual (a film artist) from a media company (in which assessee is a director and substantial shareholder)

Aug 21,2017

HC: AO cannot make disallowance in final order beyond draft order variations/ DRP-enhancement

Madras HC confirms ITAT order for AY 2009-10, holds that AO exceeded the jurisdiction by making new disallowance while passing order u/s 144C(13) giving effect to DRP directions when such

Aug 18,2017

HC: Allows Dept.'s withdrawal of interest granted u/s 244A to deduce tax arrears u/s 90 of KVSS, 1998

Punjab and Haryana HC upholds withdrawal of interest u/s. 244A granted on refund of tax pursuant to favourable CIT(A) order, as assessee’s declaration for settlement of dispute under the Kar Vivad

Aug 18,2017

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