HC: Payment to hospitals by TPA attract TDS; CBDT circular upheld  

Delhi HC upholds CBDT circular requiring TPAs to deduct TDS u/s 194J while making payment to hospital; Circular set aside to the extent it provides for levy of penalty u/s

Oct 02,2011

HC: Capital gains u/s 48 to be calculated on full value of consideration, not market value

Capital gains on built-up area received under JDA, cannot be computed using market price of the property; Act consciously adopts two different concepts - ‘full value of consideration’ u/s 48

Sep 28,2011

HC: Amended Sec 14A also applies for pre-2001 cases before Tribunals and HC

Sec 14A amendment by Finance Act, 2002 has retrospective application for pending assessments; Amended Sec 14A also applicable for pending appeal before ITAT and HC; Sec 14A disallowance upheld for

Sep 23,2011

HC: HC Dismisses Satyam writ, says no powers to extend time limit for Sec 153 assessment

Time limit for completing assessment u/s 153 cannot be extended by filing petition under Article 226, in absence of a legal provision

Sep 23,2011

HC: HC Directs Asst Comm to pass Sec 197 order without CIT's 'advise'/ 'consent'

Order u/s 197 to be passed after 'independent application of mind', not on 'dictation' or 'advise' of CIT

Sep 21,2011

HC: No 'notional' tax on investment advisory fees of AMC

Limits under SEBI regulations for Asset Management companies for charging advisory fees or recovery of expenses cannot be the basis to notionally levy tax; AMC's decision was a bonafide commercial

Sep 19,2011

HC: Marketing cost allocation between units using turnover ratio upheld

Marketing cost allocation between tax holiday units and other divisions based on turnover ratio upheld

Sep 19,2011

HC: Period of limitation not applicable to Sec 201 order regarding TDS default

Period of limitation not applicable to Sec 201 orders, Delhi HC ruling in NHK Japan Broadcasting not correct position in law

Sep 16,2011

HC: Reopening of assessment to deny concessional rate of 10% on LTCG u/s 112 invalid

No specific reason for non-applicability of proviso to Sec 112 in AO's notice for re-opening assessment; Re-assessment seeking higher tax rate of 20% instead of 10% on long term capital

Sep 15,2011

HC: Sec 234D Interest leviable only if excess refund granted pursuant to intimation u/s 143(1)

Sec 234D interest leviable only when excess refund was granted to the assessee pursuant to intimation u/s 143(1) and not upon appellate orders: Bombay HC 

Sep 14,2011