HC

HC: Holds PILCOM as agent of foreign Cricket Boards regarding 1996 World Cup receipts

Calcutta HC reverses ITAT order and rules in favour of Revenue for AY 1996-97, holds PILCOM as agent of Non-Resident Cricket Boards in relation to 1996 World Cup receipts; Pursuant

Sep 28,2018

HC: Explains income diversion vs. application; Diverting major liquor profits to DIAGEO constitutes BEPS

Karnataka HC reverses ITAT order and rules in favour of Revenue, holds that the ‘distributable surplus’ paid to Indian subsidiary of UK based Liquor Conglomerate (‘DIAGEO’) under the Agreement whereby

Sep 26,2018

HC: Amount remaining with agent after dispute settlement with principal, taxable trading receipt

Kerala HC upholds ITAT order, rules that balance remaining with assessee-agent after settlement of accounts with the Principals upon agency termination and after deducting the expenses incurred, constitutes trading receipts u/s 28(ii)(c)

Sep 25,2018

HC: Settlement application allowed ‘to be proceeded with’ no bar from criminal proceedings initiation

Delhi HC upholds ongoing criminal proceedings against assessee-individual on the strength of sanction for prosecution u/s. 279 accorded by the DIT (Investigation); Rejects assessee’s stand that once the Settlement Commission

Sep 22,2018

HC: Quashes ITSC order rejecting settlement application, as 'prima facie' findings based on surmise

Delhi HC quashes Settlement Commission’s order rejecting the settlement applications of the assessee u/s 245D(1); ITSC had rejected the assessee’s application observing that the petitioners had failed to establish sources

Sep 22,2018

HC: Upholds re-opening as Samsung failed to disclose FTS/royalty income; Tax deduction irrelevant

Delhi HC confirms ITAT order upholding re-opening in case of Samsung Electronics Co. Ltd. (resident of Korea) as it failed to declare income from royalty/FTS from its Indian subsidiary during

Sep 22,2018

HC: Deletes deemed dividend addition; RBI’s ‘substantiality test’ for money lending business irrelevant

Delhi HC upholds ITAT order deleting deemed dividend addition made by AO u/s. 2(22)(e) in respect of advances received by assessee-company from two companies “which were concededly NBFC”; Rejects Revenue’s

Sep 22,2018

HC: Upholds suppressed sales addition, 'security deposit' plea mere device to defer tax liability

HC upholds AO’s undisclosed income addition for suppressed sale proceeds pursuant to block assessment proceedings, rejects assessee’s (one of the Ansal group companies) stand that the sum represented a mere

Sep 21,2018

HC: Calculates compounding fee @100% of 'tax' evaded, not on income addition

Gujarat HC rules that compounding fees should be levied @ 100% of ‘tax’ sought to be evaded and not @ 100% of ‘income addition’ with respect to prosecution initiated on

Sep 21,2018

HC: Rejects Revenue's ‘rapidly improving technology’ stand to disallow Nokia’s warranty provision claim

Delhi HC upholds ITAT order allowing Nokia India Pvt. Ltd.’s (assessee) claim for provision for warranty during AY 2003-04; Revenue had argued that the technology in the mobile phone industry

Sep 18,2018

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