HC: Invoking Rule 8D based on AO's reasonable presumption permissible, actual quantification not required

Punjab and Haryana HC upholds AO’s resort to Rule 8D for ascertaining Sec 14A disallowance for AY 2008-09, inference drawn by AO that assessee would have incurred certain administrative expenses

Feb 13,2017

HC: Bank holding shares as stock-in-trade not hit by Sec 14A disallowance

Punjab and Haryana HC rules that Sec 14A disallowance not applicable to an assessee-bank for AY 2008-09, holds that Sec. 14A applies only to shares held as ‘investments’ and not

Feb 13,2017

HC: Reverses ITAT; Discontinued unit's assets forming part of 'block' eligible for depreciation

Delhi HC allows Sony India’s appeal and reverses ITAT order for AY 2005-06, allows depreciation on assets forming part of ‘block of assets’ in  respect of  assessee’s unit which was

Feb 10,2017

HC: Sec 143(1) intimation, despite not order, subject to CIT's revision u/s 264 to consider taxpayer's claim

Kerala HC allows assessee’s (a charitable society) writ, directs CIT to consider assessee’s revision petition u/s 264 for AY 2013-14; Notes that assessee received intimation u/s 143(1) wherein certain deduction

Feb 10,2017

HC: Property transfer cannot be taxed by substituting 'fair value' over 'transaction price' u/s 48

Punjab & Haryana HC dismisses Revenue’s appeal, rules that the fair market value ('FMV’) of the property cannot be substituted for the full value of consideration u/s 48 for the

Feb 07,2017

HC: Upholds Article 8 relief on Lufthansa & KLM's "pool" receipts; Distinguishes British Airways ratio

Delhi HC holds that profits earned by assessees (international airlines, KLM Royal Dutch and Lufthansa German) from providing technical services to other airlines is not taxable in India under Articles

Jan 31,2017

HC: Chinese telecom co's receipts for supply of ‘embedded-software’, not royalty

Delhi HC upholds ITAT order, consideration received by assessee (a Chinese telecom company) for supply of software to Indian companies, not royalty for AYs 2004-05 to 2009-10; Rejects Revenue’s stand that

Jan 27,2017

HC: Software purchase payments by a software-dealer, not royalty; Sec 194J TDS inapplicable

Madras HC dismisses Revenue’s appeal for AY 2011-12, domestic software purchase payments by assessee (an Indian company engaged in buying and selling software), not royalty, Sec 194J TDS not applicable;

Jan 24,2017

HC: Power to grant/refuse 'compounding application', discretionary; CBDT's 'eligibility criteria', a mere guidance

Delhi HC allows assessee’s writ, sets-aside Chief Commissioner’s order refusing to consider assessee’s compounding application u/s 279(2); Pursuant to prosecution launched u/s 276B for failure to deposit TDS amount deducted

Jan 20,2017

HC: Sets-aside ITAT order dismissing rectification application in breach of Tribunal-Rules

Bombay HC allows assessee’s (club) writ for AY  2009-10, sets aside ITAT order dismissing assessee’s application for rectification of order passed u/s 254(1);  Notes that ITAT’s order which was subject to rectification (dated Feb. 3,2016)

Jan 19,2017