HC: Explains law on hearing opportunity in Sec 263 proceedings; Sets aside Cairn India's revision

Madras HC sets aside DIT’s revisionary order u/s. 263 in case of Cairn India (‘assessee’, engaged in oil and gas exploration) for AY 2004-05, remands matter back to DIT to

Nov 10,2017

HC: HC explains law on CIT's revisionary power, rules decisively in Revenue's favour

HC dismisses assessee's appeal challenging the revisionary power of CIT u/s 263 on the grounds that each of the issues which were sought to be re-opened, were subject matter of scrutiny

Nov 10,2017

HC: Dismisses writ seeking return filing without Aadhaar, rejects 'mis-reading' of SC's partial stay

Madras HC dismisses assessee's (individual) writ petition seeking permission for filing income-tax return without Aadhaar number as also the plea to direct the tax department not to initiate coercive action against the assessee ; Rejects assessee’s stand

Nov 09,2017

HC: Sec.80-IA benefit available once 30 units located in industrial park, commencement certificate irrelevant

Gujarat HC rules that the assessee-company (involved in setting up an industrial park) would be entitled to deduction u/s 80-IA once the minimum number of units in accordance with the Industrial Park

Nov 09,2017

HC: Upholds deletion of Sec. 40(A)(3) disallowance, cash purchases from individual agriculturist below prescribed-limit

Kerala HC upholds ITAT third member view holding no Sec 40A(3) disallowance for purchase of rice made in cash beyond the prescribed limit of Rs. 20,000; Observes that purchases from

Nov 08,2017

HC: Delhi HC strikes down several ICDS standards as ultra-vires; Can't overrule binding judicial precedents

Delhi HC, in order to preserve constitutionality of ICDS, reads down Sec.145 (2) of Income tax Act, restricts power of Central Govt. to notify ICDS so as to ensure that

Nov 08,2017

HC: After Kerala, Madras HC grants interim relief, allows taxpayer to file return sans Aadhaar

Madras HC grants interim relief to individual assessee on Aadhaar-PAN linkage and directs Revenue to permit assessee to file her income tax return for AY 2017-18 either manually or through

Nov 03,2017

HC: Reverses ITAT; Including ‘Bank’ in co-operative society’s name cannot disentitle Sec. 80P benefit

Andhra Pradesh and Telangana HC reverses ITAT order, allows Sec.80P deduction to assessee (a co-operative society)  for AYs 2007-08 to 2009-10; Assessee claimed deduction u/s 80P(2) on the ground that it

Nov 03,2017

HC: Full Bench: Settles Sec 10A/10B tax-holiday eligibility on interest income in taxpayer’s favour

Full Bench of the Karnataka High Court rules in favour of  taxpayer, holds that income by way of interest on bank deposits or staff loans earned by 100% export oriented unit is

Nov 01,2017

HC: Allows ESPN's writs, quashes re-opening; Calls out AO's 'unacceptable conduct'

Delhi HC allows writ petitions filed by ESPN Mauritius entities, quashes re-opening notices issued by AO; HC also quashes assessment orders passed by the AO in complete disregard of both earlier

Oct 31,2017