HC: Reverses ITAT; Upholds penalty on ‘voluntarily’ declared additional income absent explanation

Delhi HC reverses ITAT order for AY 2009-10, upholds concealment penalty u/s. 271(1)(c) despite assessee (a Medical Practitioner) voluntarily declared additional income of Rs. 2 cr. in revised return; HC

Feb 22,2018

HC: Confirms Sec. 68 addition considering ITAT's minute examination of genuineness of transactions

Gujarat HC upholds ITAT order, confirms unexplained cash credit addition u/s 68 in case of assessee (an individual), with respect to receipt of unsecured loan despite confirmation from lender; Rejects assessee’s stand that since

Feb 22,2018

HC: Upholds DTAA's primacy over higher TDS rate of 20% u/s 206AA; Approves Serum ratio

Delhi HC partly allows assessee’s (a non-resident company) writ challenging constitutional validity of Sec. 206AA (as it existed prior to the amendment in 2016 and which prescribed higher withholding rate

Feb 16,2018

HC: Depreciation allowed under State enactment not to be reduced while determining WDV u/s. 43(6) pre-2010

Kerala HC reverses ITAT order for AY 2002-03 and rules in favour of assessee (engaged in manufacture and sale of centrigued latex and rubber), rules that while computing written down

Feb 16,2018

HC: Dismisses Skylight Hospitality's writ; Human error/AO's 'lapse' can't invalidate re-assessment proceedings

Delhi HC dismisses writ petition filed by Sky Light Hospitality LLP (converted into LLP from Pvt. Ltd. Co. and where Mr. Robert Vadra is one of the LLP partners ), challenging the re-assessment notice issued in the name of

Feb 15,2018

HC: Sec. 12AA(3) doesn’t empower retrospective withdrawal of Trust registration, rejects Sinhagad ruling reliance

Allahabad HC rules that amended Sec. 12AA(3) does not authorize Commissioner to cancel charitable trust's registration from retrospective effect considering that cancellation of assessee's (a State development authority) registration u/s. 12A is

Feb 14,2018

HC: Upholds retrospective withdrawal of Sec 10(23C) exemption citing educational Trust’s illegal activities

Karnataka HC dismisses assessee’s (a Trust running 13 Educational Institutions) writ, upholds withdrawal of Sec. 10(23C) exemption with retrospective effect from April 1, 2009 (i.e. the date on which approval

Feb 13,2018

HC: Quashes reassessment; Reopening reasons, a verbatim repetition of audit objections

Madras HC allows Cholamandalam’s writ, quashes re-assessment proceedings whereby AO had sought to tax Rs. 193.53 cr. on the basis of audit objections raised by the CAG for AY 2010-11;

Feb 09,2018

HC: Subsequent retro amendment can't result in Sec. 40(a)(i) disallowance; Approves Channel Guide ratio

Bombay HC upholds ITAT order, deletes Sec. 40(a)(ia) disallowance for channel placement fees paid to cable operations by NGC Networks (India) Pvt. Ltd. (‘assessee’) during AY 2009-10 on which tax

Feb 06,2018

HC: Larger bench to examine AO's power to reassess income beyond recorded reasons

Delhi HC division bench refers the matter to larger bench on whether the interpretation of Sec. 147 read with Explanation (3), given by co-ordinate bench in Ranbaxy Laboratories Ltd.’s case

Feb 06,2018