HC: Quashes Black Money law prosecution against Chidambaram family, cites revised return disclosure

Madras HC quashes prosecution proceedings launched u/s. 50 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (‘BM Act’) against the Chidambaram family (Karti

Nov 14,2018

HC: Rejects assessee’s 'retrospective' interest plea, but orders ‘cost’ for Revenue’s appeal effect delay

Gujarat HC rejects assessee-Trust’s plea for additional interest on refund by retrospective application of sub-section [1A] of Sec. 244A (inserted w.e.f June 1, 2016), however, directs granting of such additional interest only

Nov 12,2018

HC: Single solitary sale transaction sans dominant intention of profit, not ‘adventure in nature of trade’

Kerala HC dismisses Revenue’s appeal against ITAT order holding that a single solitary sale transaction of sale of agricultural land generating huge profits would not result in adventure in nature

Nov 06,2018

HC: NPA interest non-taxable for Co-op. bank even prior to 2018 Sec 43D amendment

Punjab and Haryana HC deletes addition towards interest due on Non performing Assets (NPA) of co-operative bank (assessee) for AY 2009-10; Rejects Revenue’s stand that in view of specific provisions

Nov 01,2018

HC: Cannot treat FTS as royalty merely citing general IP protection clause in agreement

Madras HC dismisses Revenue’s appeal against ITAT order holding that payment made by assessee (automobile company) to the Austrian company for design of cylinder for improvement of fuel efficiency is

Nov 01,2018

HC: Explains SC judgment effect on Allahabad HC Full bench decision on deemed trust registration

Kerala HC confirms ITAT order, holds that failure to consider assessee trust's application for registration within stipulated period of 6 months would result in deemed grant of registration, but such

Nov 01,2018

HC: Upholds ITAT-order invoking Sec 60 to tax rental income in transferor’s hands

Delhi HC dismisses assessees’ writ petition, confirms ITAT's order for AY 2008-09 holding that agreement between 2 entities (ADI and AHR) conferring upon ADI, rights to enjoy lease income of

Oct 30,2018

HC: Madras HC follows Gujarat & Kerala; Belated Employees' contribution to PF/ESI not deductible

Madras HC dismisses assessee's writ petition, denies deduction for employees' contribution to PF / ESI deposited by assessee beyond due date provided under the respective enactment but before due date

Oct 29,2018

HC: Reverses ITAT, grants Sec 80HHB benefit; Assessee's foreign project, not repair & maintenance work

Madras HC reverses ITAT order for AY 2001-02, holds that assessee's project in Abu Dhabi for 'refinery shut down' qualifies as 'foreign project' entitled to deduction u/s 80HHB(2); AO had

Oct 29,2018

HC: TDS u/s 195 inapplicable on commission to non-resident agents despite some sale happened in India

Gujarat HC upholds ITAT order and deletes Sec. 40(a)(i) disallowance made by AO for TDS non-deduction on commission paid by assessee-company to non-resident agents appointed for procuring export orders during

Oct 26,2018