HC: Entering into JDA cannot make vacant land 'business asset'; Upholds wealth-tax levy

Andhra Pradesh and Telangana HC upholds taxation of vacant land purchased by assessee-individual during AY 2009-10 for wealth tax purpose, rejects assessee’s stand that entering into JDA with developer immediately

Oct 25,2018

HC: Directs ITAT to dispose MAs in the order in which they are instituted/filed

Bombay HC directs ITAT to expeditiously dispose off assessee’s Miscellaneous Application (MA), expresses anguish on ITAT not communicating to assessee-petitioner regarding fixing a specific date of hearing of a MA;

Oct 25,2018

HC: Lays down principles on interest allowability u/s. 36(1)(iii), AO wrongly interpreted S.A Builders case (SC)

Delhi HC upholds ITAT order deleting interest disallowance u/s. 36(1)(iii),  notes that pursuant to HC remand directing AO to examine the issue in light of SC ruling in S. A.

Oct 25,2018

HC: Expenditure on allied objects having nexus with predominant activity cannot disentitle benefit u/s 10(23C)

Madras HC grants exemption u/s 10(23C)(iiiad) to assessee (an educational trust) for AY 2014-15, rules that merely spending a meagre amount towards distribution of sarees to mothers and grandmothers of

Oct 23,2018

HC: Denovo block assessments pursuant to ITAT remands, not governed by time limit u/s 153B

Delhi HC quashes block assessments framed u/s 153A pursuant to ITAT's remand for AYs 2005-06 to AY 2012-13 holds that limitation period provided under erstwhile Sec. 153(2A) would apply and

Oct 16,2018

HC: Upholds framing of prosecution charges for non-filing of return u/s 139(1) despite refund claim

Delhi HC upholds Trial Magistrate’s order framing prosecution charges on assessee u/s 276CC for non-filing of return before due date u/s 139(1) and failure to comply with notice u/s 142(1)

Oct 15,2018

HC: Directs CBDT to consider petitioner’s representation on extending return filing due-date beyond October 31st

Gauhati HC directs CBDT to consider petitioner’s representation on extending return filing & tax audit due date; Petitioner had argued that though CBDT had extended due date till October, 31st,

Oct 13,2018

HC: Dismisses Revenue’s appeal; No interest disallowance u/s. 36(1)(iii) for non-interest-bearing advances to third-parties

Delhi HC dismisses Revenue’s appeal challenging ITAT order allowing deduction u/s. 36(1)(iii) for interest paid on unsecured loans; During the relevant AY 2011-12, AO had proportionately disallowed an amount of

Oct 12,2018

HC: Upholds re-assessment initiation on Sun Direct TV for Rs. 200 cr. share premium probe

Madras HC upholds reassessment initiation on Sun Direct TV Pvt. Ltd. (assessee) for AY 2009-10 (initiated beyond 4yrs period), dismisses writ; Based on the information received from the CBI, AO

Oct 11,2018

HC: Estates of ex-ruler assessable as HUF, not individual; Rule of 'primogeniture' inapplicable

Delhi HC rules against Revenue in a bunch of over 50 cases, rules that estates of assessees (ex-rulers) shall be assessable as ‘HUF’ and not in ‘individual’ capacity; Assessee (in

Oct 09,2018