HC: Kerala HC admits writ on Aadhaar-PAN linkage, allows petitioner to file return sans Aadhaar

Kerala HC admits writ petition filed by an individual assessee on Aadhaar-PAN linkage, issues interim direction to Income-Tax officer to allow petitioner to manually file Income tax return without insisting

Aug 05,2017

HC: Upholds ITAT’s order; Compensation to sole-selling agent upon agreement termination, deductible u/s. 37(1)

Gujarat HC upholds ITAT’s order for AY 2007-08, allows deduction u/s. 37(1) to assessee-company for payment of compensation to sole-selling agent on pre-mature termination of agreement; During relevant AY, assessee

Aug 04,2017

HC: Upholds ITAT; Rule 8D(2)(ii) inapplicable, entire interest related to earning of taxable income

Bombay HC upholds ITAT order, quashes CIT's revision u/s 263 enhancing Sec 14A disallowance by invoking Rule 8D(2)(ii) for AY 2008-09; Upholds ITAT order that no interest expenditure was available

Aug 04,2017

HC: Quashes Sec. 153A assessment absent notice u/s 143(2)

Allahabad HC upholds ITAT order quashing Sec. 153A assessment on assessee for AY 2006-07 absent notice u/s 143(2); Observes that Revenue invoked Sec 153A without serving notice u/s 143(2) which

Aug 04,2017

HC: Forex gain on royalty/interest income 'exempt' under Malaysian DTAA, taxable

Bombay HC upholds ITAT order, forex gain arising to assessee (Indian company) on ‘exempt’ royalty/interest income from Malaysian JV company during AY 1991-92, taxable; During relevant AY, assessee received royalty

Aug 04,2017

HC: Case transfer u/s 127 cannot be retrospective; Quashes block-assessment absent jurisdictional AO's notice

Bombay HC upholds ITAT order, quashes block assessment for the block period 1989-90 to 1999-2000, accepts assessee’s stand that issuance of Sec. 158BC notice by AO, Nagpur was without jurisdiction;

Aug 03,2017

HC: Launching prosecution after 3 years lapse for delay in TDS deposit, mere harassment

Patna HC quashes prosecution proceedings u/s. 276B launched against assessee-company for committing TDS default, grants immunity u/s. 278AA for AY 2010-11; During relevant AY, assessee deducted TDS u/s. 194A/194H for

Aug 03,2017

HC: Liaison office, not PE absent Revenue demonstrating business activity carried through LO

Delhi HC confirms ITAT’s order for AYs 1994-95 and 1995-96, holds that assessee’s (a Japanese company) liaison office (‘LO’) in India, doesn’t constitutes its PE and accordingly assessee’s  income from business

Aug 02,2017

HC: Upholds taxpayer's treatment of interest income in Sec 80HHC deduction; Differs from Delhi HC

Allahabad HC rules on the treatment of interest income (on FD receipts pledged with the bank for availing export credit facility) in computing deduction u/s 80HHC for AY 1998-99; HC holds that "the interest

Aug 01,2017

HC: Jardines not "fly by night" operator, allows Mauritius DTAA benefit; 'Azadi' holds

Bombay HC dismisses Revenue’s writ, confirms AAR ruling that capital gains arising to JSH (Mauritius) Ltd., (‘assessee’, part of Jardines group) in respect of transfer of shares of Tata Industries Limited (‘TIL’)

Aug 01,2017