SC: Dismisses Revenue SLP; AO can't deny Sec 11 relief ignoring Sec 12AA registration 

SC dismisses Revenue’s appeal against Gujarat HC judgement; HC had upheld ITAT’s order that assessee (Recognised Stock Exchange) was eligible for exemption u/s. 11/12 of the Act; Basic objective of

Feb 18,2014

SC: Sets aside Bombay HC order on Sec 40(a)(i) disallowance, procurement fees taxability 

SC sets-aside Bombay HC order in Black & Veatch India Pvt. Ltd. and remands the matter back to HC for proper consideration following provisions of Sec 260A; SC gives no

Feb 18,2014

SC: Dismisses Revenue's SLP; HC held computer peripherals entitled to 60% depreciation 

SC dismisses Revenue’s SLP against Delhi HC judgment; HC had allowed assessee’s depreciation claim @ 60 % on computer peripherals like CD writer, Printer, Network Cables, Switches, isolators etc; HC

Feb 17,2014

SC: Dismisses Revenue's SLP; HC rejected Sec 35D invocation after allowing amortisation initially 

SC dismisses Revenue’s SLP against Delhi HC judgement; HC had held that business establishment expenses allowed to be spread over 10 years period by AO could not be interfered with

Feb 13,2014

SC: Dismisses Revenue appeal; Pre-2002 CIT can't initiate penalty u/s 263 

SC dismisses Revenue’s appeal against Gujarat HC judgement; HC upheld ITAT’s order which set aside CIT’s order directing initiation of penalty proceedings, as they were not part of ‘assessment’ proceedings;

Feb 10,2014

SC: Dismisses Revenue SLP; HC deleted Sec 40(a)(ia) disallowance on transportation reimbursement to agents 

SC dismisses Revenue’s SLP against Gujarat HC judgement; HC upheld ITAT order deleting disallowance u/s 40(a)(ia) on transportation & other expenses reimbursed by assessee to C&F / consignment agent; Such

Feb 04,2014

SC: Dismisses SLP against HC ruling upholding penalty; HC distinguished Reliance Petro ruling 

SC dismisses assessee’s appeal against Bombay HC judgment; HC had upheld penalty imposition u/s 271(1)(c) on the basis that inaccurate particulars were furnished by assessee leading to concealment of income;

Feb 04,2014

SC: Dismisses Revenue SLP against deletion of concealment penalty upon voluntary surrender 

SC dismisses Revenue's appeal against Chattisgarh HC judgment; Chattisgarh HC had held that there was no “concealment” for imposition of Sec 271(1)(c) penalty, as there was neither detection nor possession

Feb 03,2014

SC: Lays down law on criminal proceedings for non-filing of tax return 

SC dismisses appeals filed by Sasi Enterprises and its partners Jayalalitha (Tamil Nadu Chief Minister) and N. Sasikala against initiation of criminal proceedings; IT Dept initiated criminal proceedings u/s 276CC

Jan 31,2014

SC: Restores SIN Oceanic's case to AAR, sets aside NetApp's Delhi HC order 

SC restores SIN Oceanic ASA’s case to AAR on issue of whether filing of ROI will attract bar u/s 245R(2) to admit AAR application; Matter restored in light of recent

Jan 30,2014