HC : Rejects delay condonation holding Revenue's explanation as "after thought" to "cover lapses" 
Harinagar Sugar Mills Ltd.
July 28 2014
Bombay HC dismisses Revenue’s notice of motion and seeking condonation of over 1,000 days delay in filing Review Petition, states Revenue’s explanations offered as an “after thought&...View more

HC : Sec 244A interest taxable on ‘receipt’ basis notwithstanding pendency of appeals 
Venkatesh Dutt
July 28 2014
HC confirms income addition, holds interest received on tax refund u/s 244A taxable in year of receipt, notwithstanding pendency of appeal; Rejects assessee’s argument that interest income an un...View more

HC : HC's admission of appeal shows issue debatable; Concealment penalty not attracted 
Nayan Builders and Developers
July 28 2014
HC dismisses Revenue’s appeal against ITAT order setting aside imposition of penalty; Referring to co-ordinate bench’s appeal admission order in quantum proceedings of assessee, ITAT had d...View more

HC : Advance received against sale of room-nights under holiday scheme not taxable 
Pancard Clubs Limited
July 28 2014
HC confirms ITAT order, advance received by assessee (running hotels, resorts and clubs) from members against sale of room nights, not taxable; Pursuant to assessee's holiday scheme, it received advan...View more

SC : Directs Dongfang's fresh assessment on onshore/offshore supplies ; Sets aside HC order 
Dongfang Electric Corporation
July 28 2014
SC sets aside Calcutta HC and ITAT orders in Dongang Electric Corporation’s case, AO to make assessment afresh; Before SC, Assessee and Revenue Counsels agree to setting aside of HC and ITAT ord...View more

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SC: Posts IBM’s software payment characterization matter for final hearing in November

July 25 2014
SC posts IBM case for final hearing on November 25; Case to determine taxability of packaged software payments; Karnataka HC had held such payments to be taxable as royalty Senior Advocate Harish Sal...View more

HC to hear Booz entities' challenge against AAR ruling on India PE

July 24 2014
Bombay HC admits batch of writ petitions filed by Booz group entities against order of AAR; AAR had held Booz India as PE of Booz overseas entities (‘assessees’) and concluded that as...View more

NTT hangs by thread; CJI skeptical over Tribunal independence, standards, CA role

July 24 2014
5 judges Constitution bench of SC, led by Chief Justice of India (CJI) reserves judgment on constitutional validity of National Tax Tribunal (NTT); CJI poses barrage of questions to Attorney...View more

Bombay HC admits Millennium’s writ against AAR ruling on software payments taxability

July 23 2014
Bombay HC admits Millennium’s writ against AAR ruling on issue of whether payment received for computer software supply amounts to ‘royalty’; AAR had held that license fees paid for ...View more

HC to decide if DRP can issue directions at variance with draft order

July 23 2014
Bombay HC admits Revenue’s appeal against Mumbai ITAT ruling in Dredging International N.V.’s case; ITAT had held that DRP cannot take up new issue and issue directions which are at varian...View more

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ITAT : Proportionate, not full FTC available under Art 23 of India – Thailand DTAA 
Arvind Metals & Minerals (P) Ltd.
July 04 2014
ITAT dismisses assessee’s appeal, allows foreign tax credit on proportionate basis in view of Article 23(2) of India – Thailand DTAA, as against full credit claimed by assessee; As per Art...View more

HC : Mandatory interest u/s 234A/B/C unsustainable absent AO's ‘specific’ direction; Applies 'Ranchi Club' ratio 
Oswal Exports
July 04 2014
HC quashes AO’s order for charging interest u/s 234A / 234B / 234C (for AY 1990-91), as no specific direction for levying of interest given in assessment order; Though interest under above secti...View more

ITAT : Upholds McDonald’s re-assessment as lower tax rate application results in income escapement 
McDonald’s Corporation
July 03 2014
Tribunal upholds re-assessment in McDonald’s case as income escaped assessment by lower tax rate application accepted u/s 143(1); Application of 15% tax rate for royalty income under India-US DT...View more

ITAT : NR-payments for morphological studies not FTS, no ‘make available’ under India-UK DTAA 
Dholera Port Ltd. & Adani Port- Infrastructure Pvt. Ltd.
July 02 2014
ITAT quashes AO’s order u/s 201(1)/(1A) holding assessee (engaged in development of Dholera Port in Gujarat) in default, rules payment to UK company not liable to TDS u/s 195; Payments to UK com...View more

HC : “Less than full disclosure” during assessment prima facie valid for Sec 148 notice 
Rosy Blue (India) Ltd.
June 27 2014
HC dismisses assessee’s writ challenging reassessment notice u/s 148, prima-facie view suggested “less than full and true disclosure of material facts” by assessee during assessment ...View more

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CBDT issues revised tax audit report in form 3CD

July 28 2014
CBDT issues revised tax audit report in form 3CD; New tax audit report to come into effect from July 25, 2014...View more

'Unknown' beneficial interest to cost pass through status to Alternate Investment Funds: CBDT

July 28 2014
CBDT issues clarification regarding taxation of income of Alternate Investment Funds (AIF), being non-charitable trusts, where investor name and beneficial interest not known at the time of ...View more

Finance Bill copy as passed by Lok Sabha

July 28 2014
Copy of Finance Bill passed by Lok Sabha on July 25, 2014.  Click below to read and download a copy of the same. ...View more

Kar HC disapproves ITAT SB ratio in Alcargo on re-assessment scope

July 26 2014
Kar HC rules re-assessment need not be confined to material seized during course of search, in relation to proceedings u/s 153A ; Once assessment is re-opened u/s 153A, it is "open at large"; Principl...View more

Finance Bill enhances settlement commission & AAR's scope; Allows TP 'range' introduction

July 25 2014
Finance Bill as approved by Lok Sabha enhances powers of settlement commission to cover Sec 147 re-assessment & other specified cases; Extends AAR route to residents and increases AAR benches; Deb...View more

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List of Amendments to Finance Bill introduced in Lok Sabha
July 25 2014
List of Amendments to Finance Bill introduced in Lok Sabha; Amendments proposed by FM passed by Lok Sabha, amendments proposed by TMC MP Saugata Roy negated. ...View more

CBDT announces inter-city transfers of Addl/ Jt Commissioners
July 24 2014
CBDT orders inter-city transfers / postings of 33 Additional/Joint Commissioners with immediate effect.  Click below to read order No.112/2014...View more

Finance Bill enhances settlement commission & AAR's scope; Allows TP 'range' introduction
July 25 2014
Finance Bill as approved by Lok Sabha enhances powers of settlement commission to cover Sec 147 re-assessment & other specified cases; Extends AAR route to residents and increases AAR benches; Deb...View more

SC : Directs Dongfang's fresh assessment on onshore/offshore supplies ; Sets aside HC order 
Dongfang Electric Corporation
July 28 2014
SC sets aside Calcutta HC and ITAT orders in Dongang Electric Corporation’s case, AO to make assessment afresh; Before SC, Assessee and Revenue Counsels agree to setting aside of HC and ITAT ord...View more

HC : Reads Rajdharma to Revenue for wasting 'precious' court time; Public interest paramount 
 Larsen and Toubro Ltd
July 23 2014
HC reprimands Revenue for not abiding by ITAT’s findings in a matter based on settled principles of law, leading to wastage of precious judicial time; Holding Revenue officers as trustees of pub...View more