HC: Denies agricultural income exemption for rendering maintenance services under ‘turnkey plantations’ contract

Bombay HC denies agricultural income exemption for AYs 1998-99 and 1999-2000 to income derived by assessee from rendering maintenance services under the turnkey plantations contract; Upholds ITAT’s splitting of assessee’s activity

Aug 10,2017

HC: Interest on FDs out of agricultural land compensation pending Court order taxable

Bombay HC upholds ITAT order, interest  received by assessee-individual pursuant to investing  enhanced compensation on land with Bank’s Fixed Deposit account, taxable as income from other sources (‘IFOS’) for AYs

Aug 07,2017

HC: Upholds Maruti Suzuki's R&D tax break u/s 35(2AB) though DSIR approval received subsequently

Delhi HC allows Maruti Suzuki’s writ, grants deduction u/s. 35(2AB) in respect of capital expenditure incurred on its R&D unit at Rohtak during AY 2011-12 despite DSIR recognition received in

Aug 07,2017

HC: Kerala HC admits writ on Aadhaar-PAN linkage, allows petitioner to file return sans Aadhaar

Kerala HC admits writ petition filed by an individual assessee on Aadhaar-PAN linkage, issues interim direction to Income-Tax officer to allow petitioner to manually file Income tax return without insisting

Aug 05,2017

HC: Upholds ITAT’s order; Compensation to sole-selling agent upon agreement termination, deductible u/s. 37(1)

Gujarat HC upholds ITAT’s order for AY 2007-08, allows deduction u/s. 37(1) to assessee-company for payment of compensation to sole-selling agent on pre-mature termination of agreement; During relevant AY, assessee

Aug 04,2017

HC: Upholds ITAT; Rule 8D(2)(ii) inapplicable, entire interest related to earning of taxable income

Bombay HC upholds ITAT order, quashes CIT's revision u/s 263 enhancing Sec 14A disallowance by invoking Rule 8D(2)(ii) for AY 2008-09; Upholds ITAT order that no interest expenditure was available

Aug 04,2017

HC: Quashes Sec. 153A assessment absent notice u/s 143(2)

Allahabad HC upholds ITAT order quashing Sec. 153A assessment on assessee for AY 2006-07 absent notice u/s 143(2); Observes that Revenue invoked Sec 153A without serving notice u/s 143(2) which

Aug 04,2017

HC: Forex gain on royalty/interest income 'exempt' under Malaysian DTAA, taxable

Bombay HC upholds ITAT order, forex gain arising to assessee (Indian company) on ‘exempt’ royalty/interest income from Malaysian JV company during AY 1991-92, taxable; During relevant AY, assessee received royalty

Aug 04,2017

HC: Case transfer u/s 127 cannot be retrospective; Quashes block-assessment absent jurisdictional AO's notice

Bombay HC upholds ITAT order, quashes block assessment for the block period 1989-90 to 1999-2000, accepts assessee’s stand that issuance of Sec. 158BC notice by AO, Nagpur was without jurisdiction;

Aug 03,2017

HC: Launching prosecution after 3 years lapse for delay in TDS deposit, mere harassment

Patna HC quashes prosecution proceedings u/s. 276B launched against assessee-company for committing TDS default, grants immunity u/s. 278AA for AY 2010-11; During relevant AY, assessee deducted TDS u/s. 194A/194H for

Aug 03,2017