HC

HC: Dismisses writ against reassessment notice to scrutinize CCPS-premium taxability

Madras HC dismisses writ filed by assessee (a Private Ltd. Company) for AY 2009-10, upholds reassessment proceedings initiated u/s 147/148 for taxing excess share premium on issuance of compulsory convertible

Dec 21,2016

HC: Higher TDS u/s 194J inapplicable on EPC-contract payments; Human intervention didn't constitute 'technical service'

Punjab and Haryana HC dismisses Revenue’s appeal for AY 2012-13, domestic payments made by assessee-company towards erection, testing, commissioning and trial operation of the equipment to contractors did not involve provision of professional/technical

Dec 20,2016

HC: Restricts taxman's 'unlimited' TDS calls to Airtel on non-resident payments

Delhi HC relies extensively on co-ordinate bench judgment in Vodafone Essar to allow Bharti Airtel's writ petition, rules that show cause notice must be issued within a 'reasonable' time even

Dec 20,2016

HC: Sec 245D(4A) time-limit for passing Settlement Commission order mandatory, not directory; Distinguishes Star TV ratio

Karnataka HC allows assessee’s writ, quashes order passed by Income Tax Settlement Commission (‘ITSC’), being barred by limitation for AYs 2006-07 to AY 2012-13, upholds invocation of Sec 245HA(1)(iv) [which

Dec 20,2016

HC: Revenue debarred from re-looking assessee’s set-off claim by invoking Sec. 147

Delhi HC allows assessee’s writ, quashes reassessment proceedings initiated u/s 147/148 for AY 2004-05; Revenue initiated reassessment proceedings on the ground that assessee should have desisted from filing Form. 56F

Dec 16,2016

HC: Reopening valid absent assessee establishing genuineness of share-capital receipt & investors' creditworthiness

Delhi HC dismisses assessee-company’s writ for AY 2008-09, upholds reassessment proceedings initiated u/s 147/148 on account of assessee’s failure to substantiate genuineness of transactions relating to receipt of share capital; Observes that

Dec 16,2016

HC: Allows VRS exemption to retired ICICI bank employee despite belated tax-return

Madras HC allows writ filed by assessee (a senior citizen and a retired employee of ICICI Bank), grants VRS exemption u/s 10(10C) in respect of amount received under the Early Retirement Option Scheme, 2003;

Dec 15,2016

HC: AO obliged to grant stay pending CIT(A) appeal if 15% demand paid

Bombay HC sets-aside CIT’s order refusing to grant stay of demand to assessee for AY 2012-13; During relevant AY, assessee filed a loss return which was assessed at a demand

Dec 15,2016

HC: Upholds prosecution for filing false tax return declaration; Benevolent circular inapplicable

Karnataka HC dismisses assessee’s criminal petition seeking quashing of prosecution proceedings launched u/s 276(C)(2) read with Sec 277 for filing false declaration alongwith the return of income; On noting that

Dec 13,2016

HC: Forex gain on 'project receivables’ blocked for 11-years lose revenue nature

Calcutta HC confirms ITAT order for AY 2003-04, holds that excess amount of Rs. 37.91 cr received by assessee on account of exchange fluctuation in relation to foreign projects receivable (which

Dec 09,2016

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