HC: Denies exemption u/s 11 absent separate books of accounts for incidental business

Bombay HC denies Sec.11 exemption  to assessee-trust for AY 1992-93 on account of non-maintenance of separate books of accounts u/s 11(4) in respect of its incidental business of holding exhibition

Mar 24,2018

HC: Rules on unabsorbed depreciation set-off against other income post 1996 amendment

Kerala HC holds that pursuant to 1996 amendment to Sec. 32(2), set-off of unabsorbed depreciation is allowable against other heads of income also for AY 1997-98, however, carried forward unabsorbed depreciation

Mar 22,2018

HC: Absent tax payment by payee reporting loss, deductor not absolved from Sec. 40(a)(ia) disallowance

Kerala HC upholds ITAT order, confirms Sec.  40(a)(ia) disallowance for TDS default on lease rent paid / payable  by assessee (an educational institution)  during AYs 2007-08 to 2009-10​, HC rejects assessee’s contention that second

Mar 21,2018

HC: Examination during original assessment based on prima facie untrue disclosure, irrelevant; Upholds reopening

Gujarat HC dismisses assessee's writ, upholds reassessment initiated (beyond 4 years period) on the basis of information received from Investigation Wing of the Department for AY 2010-2011; Post completion of

Mar 19,2018

HC: Reverses ITAT ruling; Penalty on search u/s 271AAA attracted absent 'substantiation' of income

Delhi HC reverses ITAT order for AY 2010-11, restores penalty levy u/s 271AAA [applicable in search cases], holds Sec. 271AAA(2) condition of ‘substantiating’ the ‘manner’ of deriving undisclosed income not satisfied

Mar 19,2018

HC: Reverses ITAT; Deletes Sec. 68 addition, no ‘occasion’ required for receiving gift from ‘relative’

Andhra Pradesh and Telangana HC reverses ITAT order and rules in favour of assessee-individual for AY 2006-07, deletes unexplained credit addition u/s. 68 with respect to gift of Rs.73 lakh

Mar 16,2018

HC: PMGKY a self-contained code , denies credit of advance tax payment post demonetization

Ruling on a writ petition , Delhi HC denies  credit of advance tax paid against the liability under the Pradhan Mantri Garib Kalyan Yojna, 2016 (‘PMGKY’), however, partially allows declaration

Mar 15,2018

HC: Confirms Revenue's initiation of special audit on Nokia; Dismisses time-barred assessment plea

Delhi HC dismisses Nokia's writ petition, confirms Revenue's initiation of Special Audit u/s 142(2A) and rejects assessee's contention that assessment proceedings for AY 2009-10 had been abated and time barred

Mar 15,2018

HC: Honourarium to staff/doctors necessary for decent hospital, quashes Sec. 10(23C) exemption denial

Bombay HC sets aside CCIT’s order rejecting assessee-society’s (running a hospital providing medical facilities at subsidized rates) application for grant/continuation of exemption u/s 10(23C)(vic) for AY 2009-10; With respect to

Mar 13,2018

HC: Obtaining 100% EOU status by DTA-unit cannot entitle Sec 10B benefit beyond 10 years

Uttarakhand HC allows Revenue’s appeal, denies Sec. 10B benefit to assessee (engaged in manufacture of handicrafts) for AY 2009-10; Notes that assessee claimed deduction u/s. 80HHC from AYs 1992-93 to 2003-04

Mar 09,2018