HC: Payment by investment advisory company to Mauritian affiliate for 'fund-raising' assistance, deductible u/s. 37

Delhi HC denies to admit Revenue's appeal challenging ITAT order allowing deduction u/s. 37(1) for one time consultancy fees paid by assessee (an Indian co. rendering investment advisory services to

Feb 06,2019

HC: Condones delay in seeking TDS refund; Accepts plea of 'inadvertent omission' by CA

Delhi HC condones assessee company's delay in filing application u/s. 119(2)(b) seeking refund of TDS amount for AY 2013-14; Takes note of assessee's submission that its Chartered Accountant / auditor

Feb 05,2019

HC: Allows Sec. 10B benefit to manufacturer of diamond studded 'handmade' jewellery sans machinery

Bombay HC dismisses Revenue's appeal against ITAT's order allowing Sec. 10B benefit to assessee-firm (a 100% EOU), engaged in manufacturing of diamond studded gold jewellery, rules that absence of plant

Feb 04,2019

HC: Non-conformity of assessment as per Jurisdictional HC ratio, error rectifiable u/s. 154

Calcutta HC dismisses assessee's writ challenging show cause notice issued u/s 154 proposing to withdraw deductions allowed u/s. 80 HH / 80-I for AYs 1991-92 to 1993-94, upholds Revenue's invocation

Jan 31,2019

HC: Expresses doubt on ITAT invoking TP-mechanism absent AO's directions while deciding Sec 36(1)(iii)-interest allowability

Bombay HC expresses doubt on whether ITAT can give a direction to invoke TP-mechanism while in the appeal filed by the assessee, the sole question was whether the dis­allowance of

Jan 26,2019

HC: ITAT 'misdirected itself' in examining re-insurance payments to NR through Sec. 37 lens

Madras HC holds that ITAT 'misdirected itself' and exceeded its jurisdiction in holding that payment of reinsurance premium by assessees' (Indian Insurance companies) to non-resident insurance companies is prohibited by

Jan 24,2019

HC: Allows enhanced Sec. 10A deduction claimed in revised computation filed during assessment proceedings

Delhi HC upholds ITAT order allowing assessee's enhanced Sec. 10A deduction claim on the basis of the revised computation of income furnished during the course of assessment proceedings for AY

Jan 22,2019

HC: Interest levy u/s. 234B(2A), although prospective, applicable to pending Settlement cases

Delhi HC dismisses assessee's writ, rules that levy of interest u/s. 234B(2A) [inserted vide Finance Act, 2015] would be applicable to pending applications before the Settlement Commission as on the

Jan 21,2019

HC: Upholds constitutional validity of dividend income taxation u/s 115BBDA, rejects 'hostile discrimination' plea

Delhi HC upholds constitutional validity of Sec 115BBDA and proviso to Sec 10(34) providing for taxation of dividend income in the hands of specified assessees where dividend income exceeds Rs.

Jan 21,2019

HC: Quashes re-assessment initiation; Bharti Infratel 'fully disclosed' its Rs. 5000+ cr. demerger deal

Delhi HC quashes re-assessment initiation (beyond 4 yrs period) on Bharti Infratel Ltd. (assessee, a subsidiary of Bharti Airtel Ltd.) for AY 2008-09, as the primary facts relating to scheme

Jan 19,2019