Weekly DT Digest

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

Delhi HC allows assessee’s writ, sets-aside Chief Commissioner’s order refusing to consider assessee’s compounding application u/s 279(2); Pursuant

Jan 20,2017

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

Mumbai ITAT deletes addition u/s 40(a)(i) for TDS default on payments made by assessee-company to NR-individuals for providing

Jan 20,2017

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

Bombay HC allows assessee’s (club) writ for AY  2009-10, sets aside ITAT order dismissing assessee’s application for rectification of order

Jan 19,2017

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

Delhi HC dismisses Revenue’s appeal for AY 2001-02, upholds deletion of sums brought to tax by the AO

Jan 18,2017

SC: Dismisses assessee’s SLP challenging share-application money probe u/s 263

SC dismisses assessee’s SLP against Calcutta HC order in the case of Rajmandir Estates Pvt. Ltd. for AY 2009-10;

Jan 14,2017

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

Chennai ITAT dismisses assessee’s (a dealer in shares and securities)appeal for AY 2009-10, upholds disallowance made u/s 14A

Jan 13,2017

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

Bombay HC dismisses Revenue’s appeal for AY 1986-87, holds that assessee (a financial institution engaged in leasing of

Jan 13,2017

ITAT: Quashes CIT’s Sec 263 order directing brought forward loss set-off against Sec 10A profits

Mumbai ITAT quashes CIT’s order u/s 263 directing AO to set  off the brought forward losses, while computing

Jan 06,2017

ITAT: Common utility terminal payments by airlines, a payment for ‘facility’, not FTS

Mumbai ITAT holds that payments made by assessee (a Foreign Airline company) for common utility terminal charges (CUTE)

Jan 06,2017