Direct tax Weekly Digest

Weekly Digest #20 29 Jul to 04 Aug 2017 3 Rulings

High Court HC:Quashes Sec. 153A assessment absent notice u/s 143(2)

Aug 04, 2017

In Favour of : Assessee
Citation Number : TS-316-HC-2017(ALL)

High Court HC:Upholds ITAT; Rule 8D(2)(ii) inapplicable, entire interest related to earning of taxable income

Aug 04, 2017

In Favour of : Assessee
Citation Number : TS-317-HC-2017(BOM)

High Court HC:Upholds ITAT's order; Compensation to sole-selling agent upon agreement termination, deductible u/s. 37(1)

Aug 04, 2017

In Favour of : Assessee
Citation Number : TS-318-HC-2017(GUJ)

Weekly Digest #19 22 Jul to 28 Jul 2017 6 Rulings

High Court HC:Linking seized-document with taxpayer's undisclosed income 'must' for invoking Sec. 292C presumption

Jul 27, 2017

In Favour of : Assessee
Citation Number : TS-303-HC-2017(CAL)

Supreme Court SC:HC larger bench to decide on Sec. 244A interest entitlement on self-assessment tax refund

Jul 27, 2017

In Favour of : Assessee
Citation Number : TS-302-SC-2017

High Court HC:Rejects Revenue's re-assessment of HCL's export tax-holiday on profits of foreign branches

Jul 28, 2017

In Favour of : Assessee
Citation Number : TS-305-HC-2017(DEL)

High Court HC:Wrong deduction claim cannot make earlier disclosure not 'true' to trigger re-assessment

Jul 27, 2017

In Favour of : Assessee
Citation Number : TS-301-HC-2017(DEL)

High Court HC:Upholds deduction u/s. 37 for legal expenses incurred to defend taxpayer's mining lease

Jul 24, 2017

In Favour of : Assessee
Citation Number : TS-297-HC-2017(KAR)

High Court HC: Multiple establishments in same complex, not prerequisite for 'commercial complex'; Grants wealth-tax exemption

Jul 28, 2017

In Favour of : Assessee
Citation Number : TS-306-HC-2017(DEL)

Weekly Digest #18 08 Jul to 21 Jul 2017 5 Rulings

Income tax Appellate Tribunal ITAT:Seconded employees' services, being technical in nature, taxable as FIS

Jul 21, 2017

In Favour of : Revenue
Citation Number : TS-294-ITAT-2017(Bang)

High Court HC:Allows protective assessment in block assessment proceedings u/s 158BC/BD; Follows Mahindra Finlease

Jul 21, 2017

In Favour of : Revenue
Citation Number : TS-295-HC-2017(ALL)

Supreme Court SC:Dismisses Revenue SLP against HC order quashing reassessment on General Insurance Corp.

Jul 21, 2017

In Favour of : Assessee
Citation Number : TS-292-SC-2017

High Court HC:Dismisses Revenue's writ, upholds Settlement Commission order granting immunity from penalties / prosecution

Jul 21, 2017

In Favour of : Assessee
Citation Number : TS-291-HC-2017(DEL)

Income tax Appellate Tribunal ITAT:Allows sales promotion expenses; MCI guidelines not applicable to ayurvedic products

Jul 14, 2017

In Favour of : Assessee
Citation Number : TS-279-ITAT-2017(PAT)

Weekly Digest #17 01 Jul to 07 Jul 2017 4 Rulings

Income tax Appellate Tribunal ITAT:Follows co-ordinate bench's Zee Media ruling for amortizing 'content cost' to broadcasting company

Jul 07, 2017

In Favour of : Assessee
Citation Number : TS-266-ITAT-2017(Mum)

Supreme Court SC:Dismisses Revenue's SLP against HC order allowing privilege fee deduction

Jul 07, 2017

In Favour of : Assessee
Citation Number : TS-268-SC-2017

Income tax Appellate Tribunal ITAT:Grants partial benefit u/s. 54F, no relaxation for cheque returned un-encashed for technical glitches

Jul 07, 2017

In Favour of : Revenue
Citation Number : TS-267-ITAT-2017(Mum)

High Court HC:Taxpayer's revision application u/s. 264 against AO's rectification order u/s. 154, maintainable

Jul 07, 2017

In Favour of : Assessee
Citation Number : TS-269-HC-2017(CAL)

Weekly Digest #16 24 Jun to 30 Jun 2017 4 Rulings

Income tax Appellate Tribunal ITAT:No denial of charity exemption u/s. 11 for change in Trust's objects aiming pan-India presence

Jun 30, 2017

In Favour of : Assessee
Citation Number : TS-252-ITAT-2017(Mum)

High Court HC: Upholds Sec. 68 addition for unexplained share-application money, assessee failed to establish contributors' credit-worthiness

Jun 30, 2017

In Favour of : Revenue
Citation Number : TS-253-HC-2017(MAD)

Income tax Appellate Tribunal ITAT:Allows sharing of consideration between taxpayer and builder upon 're-developed flat' sale

Jun 29, 2017

In Favour of : Assessee
Citation Number : TS-249-ITAT-2017(Mum)

Income tax Appellate Tribunal ITAT:Deletes notional profit addition on property sale, quashes reference to DVO

Jun 30, 2017

In Favour of : Assessee
Citation Number : TS-255-ITAT-2017(CHANDI)

Weekly Digest #15 17 Jun to 23 Jun 2017 3 Rulings

Income tax Appellate Tribunal ITAT: Upholds Sec. 271(1)(c) penalty, confirms income concealment based on AIR details

Jun 23, 2017

In Favour of : Revenue
Citation Number : TS-238-ITAT-2017(CHNY)

Income tax Appellate Tribunal ITAT:Liquidated damages, though received as part of land-sale consideration, assessable as 'income from other sources'

Jun 23, 2017

In Favour of : Revenue
Citation Number : TS-239-ITAT-2017(Mum)

Income tax Appellate Tribunal ITAT: Bonus stripping u/s 94(8) not applicable on 'share-sale' transaction; Follows co-ordinate bench

Jun 23, 2017

In Favour of : Assessee
Citation Number : TS-240-ITAT-2017(PUN)

Weekly Digest #14 26 May to 16 Jun 2017 4 Rulings

Income tax Appellate Tribunal ITAT: ITAT: Sec. 10A tax-holiday period to be reckoned from date of re-locating to STPI unit

Jun 16, 2017

In Favour of : Revenue
Citation Number : TS-227-ITAT-2017(CHNY)

Income tax Appellate Tribunal ITAT:Restores case to AO for 'denovo' assessment; Denies assessee's illegitimate grievance

Jun 16, 2017

In Favour of : Both, Partially
Citation Number : TS-226-ITAT-2017(DEL)

Income tax Appellate Tribunal ITAT:Quashes assessment u/s. 153A, distinguishes Gunjan Girishbhai Mehta (SC) ruling

Jun 09, 2017

In Favour of : Assessee
Citation Number : TS-215-ITAT-2017(DEL)

Income tax Appellate Tribunal ITAT: Allows MTM losses deduction to Reliance Infra, applies Woodward Governor ratio

Jun 15, 2017

In Favour of : Assessee
Citation Number : TS-225-ITAT-2017(Mum)

Weekly Digest #13 20 May to 25 May 2017 3 Rulings

Income tax Appellate Tribunal ITAT:Grants stay of penalty proceedings pending disposal of quantum proceedings

May 25, 2017

In Favour of : Assessee
Citation Number : TS-198-ITAT-2017(DEL)

High Court HC:Upholds ITAT order quashing invocation of Sec.153A; Applies Kabul Chawla ratio

May 26, 2017

In Favour of : Assessee
Citation Number : TS-199-HC-2017(DEL)

Income tax Appellate Tribunal ITAT:Holds land as agricultural as AO failed to prove commercial activities

May 26, 2017

In Favour of : Assessee
Citation Number : TS-200-ITAT-2017(CHNY)

Weekly Digest #12 29 Apr to 19 May 2017 4 Rulings

Income tax Appellate Tribunal ITAT:Training expense remitted to Chinese parent for payment to third party, not reimbursement

May 19, 2017

In Favour of : Both, Partially
Citation Number : TS-190-ITAT-2017(Kol)

Income tax Appellate Tribunal ITAT:Declaring undisclosed income vide revised return prior to notice issuance - not 'concealment'

May 05, 2017

In Favour of : Assessee
Citation Number : TS-172-ITAT-2017(CHNY)

Income tax Appellate Tribunal ITAT:Allows depreciation deduction despite TDS default on 'capitalised' software payment

May 05, 2017

In Favour of : Assessee
Citation Number : TS-173-ITAT-2017(Bang)

Income tax Appellate Tribunal ITAT:Restricts assessee's Sec. 54 deduction claim, observes diversion of sale proceeds into business

May 19, 2017

In Favour of : Assessee
Citation Number : TS-192-ITAT-2017(CHNY)

Weekly Digest #11 22 Apr to 28 Apr 2017 3 Rulings

Income tax Appellate Tribunal ITAT:Directs CIT(A) to admit additional evidence; non-cooperation from CA, 'reasonable cause'

Apr 28, 2017

In Favour of : Both, Partially
Citation Number : TS-165-ITAT-2017(Mum)

High Court HC:Quashes re-opening merely based on a 'Sauda-Chitthi' for land-sale

Apr 10, 2017

In Favour of : Assessee
Citation Number : TS-139-HC-2017(GUJ)

High Court HC: Upholds ITAT order granting charity registration to State development authority

Apr 28, 2017

In Favour of : Assessee
Citation Number : TS-167-HC-2017(ALL)

Weekly Digest #10 08 Apr to 21 Apr 2017 3 Rulings

High Court HC:Upholds unaccounted sales addition on account of excess gold consumption

Apr 21, 2017

In Favour of : Revenue
Citation Number : TS-154-HC-2017(GUJ)

High Court HC:Allows taxpayer's writ; Quashes AO's curtailment of 30 days period for demand payment u/s. 220

Apr 21, 2017

In Favour of : Assessee
Citation Number : TS-155-HC-2017(DEL)

Income tax Appellate Tribunal ITAT:No Sec. 194A TDS on Bank's interest provisioning under CBS software reversed subsequently

Apr 21, 2017

In Favour of : Assessee
Citation Number : TS-156-ITAT-2017(Bang)

Weekly Digest #9 25 Mar to 07 Apr 2017 4 Rulings

Income tax Appellate Tribunal ITAT:Income from operating ships in international traffic not taxable, applies POEM guidelines

Apr 07, 2017

In Favour of : Assessee
Citation Number : TS-135-ITAT-2017(Rjt)

High Court HC: HC: Exorbitant 'legal fees' no ground to deny Sec. 37 deduction claim

Apr 07, 2017

In Favour of : Assessee
Citation Number : TS-137-HC-2017(MAD)

Income tax Appellate Tribunal ITAT:Grants charity exemption to Sec. 25 company engaged in cyber security services

Apr 07, 2017

In Favour of : Assessee
Citation Number : TS-138-ITAT-2017(DEL)

High Court HC:Allows balance additional depreciation in succeeding year; Finance Act, 2015 amendment, retrospective

Apr 07, 2017

In Favour of : Assessee
Citation Number : TS-136-HC-2017(MAD)

Weekly Digest #8 18 Mar to 24 Mar 2017 3 Rulings

Income tax Appellate Tribunal ITAT:No Sec 194C TDS on Sugar manufacturing company's payment to contractors on farmers' behalf

Mar 24, 2017

In Favour of : Assessee
Citation Number : TS-114-ITAT-2017(VIZ)

Income tax Appellate Tribunal ITAT:NBFC's statutory fund transfer, not diversion of income, denies deduction

Mar 24, 2017

In Favour of : Revenue
Citation Number : TS-115-ITAT-2017(CHNY)

Income tax Appellate Tribunal ITAT:Gains on mortgaged-property sale, though received by Bank, not income-diversion for taxpayer

Mar 24, 2017

In Favour of : Revenue
Citation Number : TS-116-ITAT-2017(CHNY)

Weekly Digest #7 04 Mar to 17 Mar 2017 5 Rulings

Supreme Court SC: Declines to interfere in exercise of jurisdiction u/s 263 absent leakage of revenue

Mar 10, 2017

In Favour of : Assessee
Citation Number : TS-90-SC-2017

Income tax Appellate Tribunal ITAT:Deletes Sec 14A disallowance on Morgan Stanley, absent exempt income earning

Mar 15, 2017

In Favour of : Assessee
Citation Number : TS-98-ITAT-2017(Mum)

Income tax Appellate Tribunal ITAT: Co-operative society not 'person' u/s 2(31) pre-2002 amendment; rejects assessment as AOP

Mar 17, 2017

In Favour of : Assessee
Citation Number : TS-103-ITAT-2017(DEL)

High Court HC:Non-filing return by NR despite accrued bank-interest, not valid reopening reason

Mar 10, 2017

In Favour of : Assessee
Citation Number : TS-91-HC-2017(BOM)

High Court HC:Director's statement during search, sufficient satisfaction for company's assessment u/s 153C

Mar 17, 2017

In Favour of : Both, Partially
Citation Number : TS-105-HC-2017(DEL)

Weekly Digest #6 18 Feb to 03 Mar 2017 3 Rulings

High Court HC:Upholds capital gains exclusion from book profit calculation u/s 115JB, grants Sec 54EC benefit

Mar 03, 2017

In Favour of : Assessee
Citation Number : TS-708-HC-2016(MAD)

Income tax Appellate Tribunal ITAT:Software payments to NR, not royalty under India-Singapore DTAA

Mar 03, 2017

In Favour of : Assessee
Citation Number : TS-81-ITAT-2017(Kol)

High Court HC: Dismisses writ; Empowers ITAT to call for records / file in connection with transfer-order u/s 127

Mar 03, 2017

In Favour of : Both, Partially
Citation Number : TS-82-HC-2017(DEL)

Weekly Digest #5 11 Feb to 17 Feb 2017 3 Rulings

High Court HC:Assessee's ground for non-payment of advance-tax non-existent, confirms interest levied u/s 215

Feb 17, 2017

In Favour of : Revenue
Citation Number : TS-60-HC-2017(BOM)

High Court HC:Deletes Sec. 40(a)(ia) disallowance on interest paid to foreign supplier towards machinery imported

Feb 17, 2017

In Favour of : Assessee
Citation Number : TS-62-HC-2017(DEL)

High Court HC:Upholds ITAT; Investment trust not assessable as AOP; Sec 164(1) inapplicable

Feb 17, 2017

In Favour of : Assessee
Citation Number : TS-63-HC-2017(KAR)

Weekly Digest #4 04 Feb to 10 Feb 2017 3 Rulings

Income tax Appellate Tribunal ITAT:FTS, not taxable sans specific FTS article under India-Thai DTAA; Rejects residuary-clause applicability under Article 22

Feb 06, 2017

In Favour of : Assessee
Citation Number : TS-37-ITAT-2017(CHNY)

Income tax Appellate Tribunal ITAT:Allows interest deduction u/s 24(b) on vacant property subject to offering 'notional' rental-income

Feb 10, 2017

In Favour of : Revenue
Citation Number : TS-47-ITAT-2017(Mum)

Income tax Appellate Tribunal ITAT: NR's project office in India, not installation PE absent contract execution through PO

Feb 10, 2017

In Favour of : Assessee
Citation Number : TS-48-ITAT-2017(Kol)

Weekly Digest #3 15 Jan to 20 Jan 2017 4 Rulings

High Court HC: Upholds deletion of unexplained income u/s 68 absent intensive investigation by AO

Jan 18, 2017

In Favour of : Assessee
Citation Number : TS-18-HC-2017(DEL)

High Court HC:Sets-aside ITAT order dismissing rectification application in breach of Tribunal-Rules

Jan 19, 2017

In Favour of : Assessee
Citation Number : TS-19-HC-2017(BOM)

Income tax Appellate Tribunal ITAT:NR-payments for IPS not taxable as stay in India less than 183 days

Jan 20, 2017

In Favour of : Assessee
Citation Number : TS-23-ITAT-2017(Mum)

High Court HC:Power to grant/refuse 'compounding application', discretionary; CBDT's 'eligibility criteria', a mere guidance

Jan 20, 2017

In Favour of : Assessee
Citation Number : TS-25-HC-2017(DEL)

Weekly Digest #2 07 Jan to 14 Jan 2017 3 Rulings

High Court HC:Allows investment allowance u/s32A on machinery leased despite no actual-use” by assessee

Jan 13, 2017

In Favour of : Assessee
Citation Number : TS-11-HC-2017(BOM)

Income tax Appellate Tribunal ITAT:Confirms Sec. 14A disallowance for assessee-dealer in shares, Rejects no expense plea

Jan 13, 2017

In Favour of : Revenue
Citation Number : TS-702-ITAT-2016(CHNY)

Supreme Court SC:Dismisses assessee's SLP challenging share-application money probe u/s 263

Jan 14, 2017

In Favour of : Assessee
Citation Number : TS-13-SC-2017

Weekly Digest #1 31 Dec to 06 Jan 2017 3 Rulings

High Court HC:Upholds Sec 271(1)(c) penalty deletion for wrong loss set-off claim based on CA opinion

Jan 06, 2017

In Favour of : Assessee
Citation Number : TS-699-HC-2016(P & H)

Income tax Appellate Tribunal ITAT:Common utility terminal payments by airlines, a payment for 'facility', not FTS

Jan 06, 2017

In Favour of : Assessee
Citation Number : TS-697-ITAT-2016(Mum)

Income tax Appellate Tribunal ITAT:Quashes CIT's Sec 263 order directing brought forward loss set-off against Sec 10A profits

Jan 06, 2017

In Favour of : Assessee
Citation Number : TS-698-ITAT-2016(Mum)