HC: Upholds settlement applications, taxpayer’s additional disclosure, not ‘substantial’, distinguishes Ajmera Housing ruling

Gujarat HC dismisses Revenue’s writ, upholds Income-tax Settlement Commission’s (‘ITSC’) order accepting assessees’ settlement application u/s 245D for AYs 2010-11 to 2014-15; In the settlement application, taxpayers (belonging to same

Jun 26,2017

HC: Rejects rectification application; Original assessment not remand proceeding relevant for Sec 154 limitation

Allahabad HC confirms Lucknow ITAT order for AY 2003-04, dismisses assessee’s rectification application, being barred by  limitation period u/s. 154 (7); HC notes that assessee missed filing rectification petition (within

Jun 22,2017

HC: Sets-aside ITAT order, denies capital gains exemption upon proprietorship succession by company

Kerala HC sets-aside ITAT’s order and restores CIT’s Sec. 263 order, denies capital-gains exemption benefit u/s. 47(xiv) upon take-over of assessee’s proprietary concern by a company during AY 2001-02, as

Jun 22,2017

HC: Disapproves taxpayer-company's "self" lifting of corporate veil to claim 'family settlement' relief

Bombay High Court holds that share-transfer by assessee-company pursuant to the family arrangement among the shareholders of assessee-company and other family members is not exempt; HC notes that assessee-company is

Jun 21,2017

HC: Rejects co-operative society's Sec. 80P claim on 'interest' income; Departs from co-ordinate bench ruling

Karnataka HC rules in favour of Revenue and sets-aside ITAT order, denies Sec. 80P(2)(d) deduction to assessee co-operative society (engaged in agro-marketing) with respect to  interest income earned on investments

Jun 21,2017

HC: Quashes block assessment, rejects Revenue’s plea of waiving Sec. 143(2) notice issuance requirement

Gujarat HC upholds ITAT order quashing block-assessment u/s. 158BC on the ground that no formal notice u/s. 143(2) was issued to assessee; Rejects Revenue’s stand that in view of long

Jun 20,2017

HC: Sandvik ratio applicable only to CBDT's 'wanton' delay, not for delayed refund claim

Meghalaya HC allows Sec. 244A interest on TDS refund  to assessee-deductee (a co-operative bank) for AYs 2000-01 to 2003-04, but rejects ‘interest on interest’ claim; With respect to TDS on

Jun 16,2017

HC: SLP​ dismissal qua withdrawal​​, ​no bar on review petition before HC

Delhi HC decides the preliminary objection on maintainability of the review petition in favour of assessee (i.e review petitioner), rules that “review petition to be not barred owing to the SLP

Jun 14,2017

HC: Upholds property attachment, rejects immunity under Settlement Commission order sans conditions fulfillment

Bombay HC dismisses assessee-individual’s (engaged in business of developing properties) writ, upholds attachment and sale of residential bungalow, allows special civil application by the intervener (auction-purchaser , who participated in

Jun 08,2017

HC: Quashes re-assessment citing delay in issuing Sec. 143(2) notice pursuant to return u/s 148

Delhi HC allows assessee's [successor to India Cellular Towers Infrastructure Ltd. (‘ICTIL’), a telecom company] writ, quashes reassessment proceedings for AY 2009-10 on the ground of delay in issuing notice u/s.

Jun 07,2017