HC: Overrules ITAT for incorrect application of Maersk ratio on Sec. 234B interest levy

Uttarakhand HC sets aside ITAT order deleting Sec.234B interest levy on assessee (a Mauritian Co.) for AY 2006-07, holds that ITAT erred in following jurisdictional HC full bench ruling in

May 07,2019

HC: Allows revised return filed beyond Sec. 139(5) timeline, pursuant to NCLT approved amalgamation scheme

Madras HC accepts validity of revised returns filed by assessee companies beyond the prescribed time limit u/s. 139(5) of the Income-tax Act, pursuant to the scheme of arrangement and amalgamation

May 07,2019

HC: Quashes Sec. 197 order denying Mauritius DTAA benefit, leaves window open for Revenue

Bombay HC quashes AO's Sec. 197 order denying 'Nil' withholding tax certificate to assessee (a Mauritian Co.) in respect of sale of shares of an Indian NBFC ('ICFL'), directs Revenue

May 06,2019

HC: Upholds ITAT order approving PSM approach for NR's TV channel distribution revenue

Bombay HC dismisses Revenue's appeal, upholds ITAT order with respect to computation of distribution revenue of a non-resident co.(assessee, engaged in distribution of TV channels) for AY 2007-08; Observes that the

May 03,2019

HC: Expresses anguish at ITAT upholding dubious penalty levy, suspects 'coercion' by Department

Madras HC quashes ITAT order upholding penalty levy u/s.271(1)(c), holds that the lower authorities, right from the AO, have abused their powers u/s. 271(1)(c), imposes cost of Rs. 10,000 on

May 02,2019

HC: Directs expeditious release of Vodafone Idea's refund; System lapse in rectifying TDS mismatch irrelevant

Bombay HC directs release of refund of Rs. 21 cr. arising to Vodafone Idea Ltd. (assessee) out of assessment u/s. 201(1) for AYs 2007-08 to 2010-11 with statutory interest, latest

May 02,2019

HC: Allows Sec.54F benefit on transfer of residential unit in Co­-operative Housing Society

Bombay HC upholds ITAT order for AY 2009-10, allows assessee-individual's Sec. 54F claim in respect of capital gains arising on transfer of jointly -owned inherited residential flat located in a

May 02,2019

HC: Payment for TV channels distribution rights, not royalty for 'use of copyright'

Bombay HC upholds that payment received by assessee (a Singaporean based TV broadcasting company) for granting distribution rights of the channels, was not taxable as royalty under the Act as

May 02,2019

HC: MAT inapplicable to banking companies prior to AY 2013-14; Holds 2012 amendment prospective

Bombay HC holds that MAT provisions u/s.115JB are not applicable to banking companies prior to amendment to Sec 115JB(2) by the Finance Act, 2012 effective from AY 2013-14; Notes that

Apr 30,2019

HC: Payment for lounge services by Jet Airways not rent, TDS u/s.194-I inapplicable

Bombay HC rules against the Revenue, holds that payment by Jet Airways (assessee) for usage of lounge space at the airport is not rent liable for TDS u/s. 194-I; Rejects

Apr 29,2019