HC: Denies capital gains exemption benefit u/s. 54F as flat construction preceded land-transfer

Gujarat HC upholds ITAT order for AY 2009-10, denies capital gains exemption benefit u/s. 54F to assessee-individual as the construction of the flats for personal use was completed before the sale of the capital asset (i.e. land); Assessee owned

May 22,2018

HC: Allows exemption u/s 10(10C) for VRS payment despite scheme not as per Rule 2BA

Madras HC allows assessee’s claim for exemption u/s 10(10C)  for VRS payment of AY 2004-05; Assessee's (employee of ICICI Bank) claim was denied by the Income-tax authorities holding that the

May 18,2018

HC: Adopts different approach, treats TDS default order u/s 201 as 'show-cause' notice to assessee

Madras HC directs the order u/s 201(1)/(1A) ​(for TDS default on payments to non-resident) ​be treated as ​'show-​cause​'​  notice to the assessee instead of remitting back the matter for a fresh consideration; HC

May 17,2018

HC: Concessional education facility not perquisite prior to 2001- amendment to Rule 3, TDS inapplicable

Gujarat HC reverses ITAT order, holds that payment to education society for recouping deficit in payment of tuition fees of employees' children does not amount to perquisite for AY 2000-01

May 16,2018

HC: Directs examination of taxability of airline company's crew lease payment as FTS

Delhi HC sets aside ITAT order holding payment by airline company (assessee) for services under crew lease agreement with Lufthansa, Germany as non-taxable 'business profit' absent PE in India, directs

May 15,2018

HC: Upholds reassessment, notes live-link between investigation wing data and income escapement

Punjab and Haryana HC dismisses assessee’s writ (engaged in trading of shares through his broker) for AY 2009-10, upholds reassessment proceedings u/s 147/148, rules that there was a direct nexus/live

May 12,2018

HC: Serving notice to taxpayer's CA not service at all, quashes reassessment proceedings

Chhattisgarh HC allows assessee-company’s writ, quashes re-assessment proceedings for AY 2009-10, as “no notice was served to the petitioner-assessee u/s. 148(1) and service of notice to the Chartered Accountant (‘CA’)

May 11,2018

HC: Technical know-how payments deductible u/s. 35AB, not u/s. 37; Deviates from Gujarat/Karnataka HC

Bombay HC holds that expenditure incurred during AY 1986-87 for obtaining technical knowhow under a license is classifiable u/s. 35AB (which allows deduction for 1/6th of amount) and not u/s. 37 ; Rejects assessee’s contention

May 10,2018

HC: Upholds re-opening based on Jt. CIT's 'satisfaction', notwithstanding erroneous seeking of CIT's view

Gujarat HC confirms ITAT ruling that upheld the re-opening of re-assesment for AY 2005-06, rejects assessee's contention that since the Joint Commissioner, after recording his satisfaction forwarded the same to CIT,

May 08,2018

HC: Dismisses Govt's petition seeking injunction against Vodafone from pursuing arbitration under India-UK BIPA

Delhi HC dismisses Union of India's (UOI) petition for permanent injunction against Vodafone Group restraining them from pursuing arbitrations under India UK bilateral Investment Promotion Agreement (BIPA) since the arbitration

May 07,2018