HC: Upholds CIT's probe u/s. 263 into Singaporean co.'s Rs. 100 cr. contract revenue from Cairn India

Uttarakhand HC upholds invocation of CIT's revisionary jurisdiction u/s. 263 in case of assessee (a Singaporean co. engaged in rendering offshore geophysical services), dismisses assessee's writ; Assessee had claimed that

Dec 26,2018

HC: Directs CBDT to consider return-filing extension / interest waiver applications u/s 119 by petitioners in Kerala

Kerala HC directs CBDT to consider applications u/s 119(2)(a)/(b) by petitioners in Kerala towards claim of deductions/exemptions/refunds or waiver of interest/penalty, taking note of the flood situation that affected the

Dec 25,2018

HC: Debars AO from undertaking 'full fledged' re-assessment to work out 'indexed cost'

Bombay HC sets-aside re-assessment notice for AY 2013-14 in case of individual-assessee, upholds assessee's computation of capital gain arising out of a sale of residential property; Notes that assessee's original return was accepted

Dec 24,2018

HC: Dismisses Revenue appeal; Retention of partial VAT on behalf of Government, not 'real' income

Himachal Pradesh HC dismisses Revenue's appeal, rules that the retention of a part of the VAT collected by assessee-society till the process of determination of its actual expenditure incurred on

Dec 21,2018

HC: Explains 'substantial interest' u/s 40A(2)(b) for SDT constitution; Relies upon ICAI Guidance Note

HC allows HDFC Bank's writ petition, quashes AO's order and subsequent reference to TPO alleging that certain related party transactions [purchase of loans from HDFC ltd, payment for rendering services

Dec 21,2018

HC: Quashes re-assessment on legal representative sans prior proceedings against deceased

Delhi HC quashes re-assessment on legal representative of a deceased assessee, observes that the reassessment notice was issued in the name of the deceased and no notice was issued to

Dec 21,2018

HC: No Sec. 40A(3) disallowance for payment by non-crossed drafts, once payee's account credited

Karnataka HC reverses ITAT order, deletes disallowance u/s. 40A(3) for payments made by assessee (a manufacturing company) to vendors by non-crossed bank drafts during AY 2005-06; Notes that Revenue had

Dec 20,2018

HC: Rejects stamp-duty valuation u/s. 50C for computing capital-gains on assignment of development rights

Bombay HC upholds ITAT order, rules that capital gains arising to assessee during AY 2005-06 on assignment of development rights, in respect of the immovable property, to a builder is

Dec 19,2018

HC: Discharges taxpayer from 'hurriedly' launched prosecution as tax-demand agitated before various fora

Madras HC discharges assessee-individual from the prosecution launched u/s. 276C(2) for non-payment of determined tax; Notes that since the assessee was agitating his case before various fora [CIT(A) / ITAT],

Dec 19,2018

HC: Upholds Sec. 263-order ; Condemns AO's 'slipshod' acceptance of books despite huge surrender in survey

Punjab & Haryana HC reverses ITAT order, upholds CIT's revisionary order u/s. 263 resulting in enhancement of assessee's income for AY 2008-09; Takes note of CIT's observations that AO had

Dec 18,2018