HC

HC: Reverses AAR, Formula One Championship circuit constitutes fixed-place PE

Delhi HC reverses AAR order in the case of Formula One World Championship Ltd. (‘FOWC’ / ‘assessee’, a UK tax resident Company), holds that assessee constituted a fixed place PE

Dec 02,2016

HC: Quashes reassessment proceedings u/s 147/148; Relies on Kelvinator India (SC)

Delhi HC dismisses Revenue’s appeal,  quashes reassessment proceedings initiated u/s 147/148; Notes that assessee’s claim for provision of bad and doubtful debts was considered by the AO in original assessment completed u/s

Dec 02,2016

HC: Lack of “precise” reasons in notice issued u/s 127 doesn’t constitute fatal infirmity

Delhi HC dismisses assessee’s writ challenging transfer/ centralisation of cases u/s 127 pursuant to search proceedings carried out u/s 132; Notes that the very first sentence in the notice specifically alluded

Nov 25,2016

HC: Tribunal duty-bound to consider assessee’s alternative plea raised during hearing

Bombay HC allows assessee’s writ for AYs 1987-88 &1988-89, holds that the Tribunal is duty–bound to grant relief to the assessee as claimed during the hearing, even if there is no

Nov 25,2016

HC: Upholds transfer u/s 127 for coordinated post search investigation

Delhi HC dismisses assessee’s writ challenging transfer/centralisation of case u/s 127 for coordinated post search investigation and meaningful assessment, pursuant to proceedings u/s 133A; Rejects assessee’s plea that failure to mention any reason

Nov 25,2016

HC: Upholds rejection of Sec 234A/B/C interest waiver application; Pending quantum appeal irrelevant

Bombay HC dismisses asssessee’s writ challenging Chief Commissioner’s order u/s 119(2) rejecting assessee’s application for waiver of interest u/s 234A/B/C for non-payment of advance tax on capital gains arising during

Nov 24,2016

HC: Reverses ITAT; Rejects leasing between affiliates at lower rate, applies 'reasonable-rent' benchmark

Kerala HC sets aside ITAT order, holds ‘reasonable’ rent and not the lower actual rent received by assssee-individual, relevant for computing annual value of the property let out u/s 23(1)

Nov 21,2016

HC: Sec 234C interest mandatory though unanticipated income resulted in advance tax shortfall

Madras HC upholds levy of Sec 234C interest, does not accept taxpayer's argument that deferment in payment of advance tax was beyond the control of assessee; During relevant AY 2007-08,

Nov 18,2016

HC: Lack of detailed reasoning in transfer order doesn’t ensue “grave-prejudice” to assessee

Delhi HC dismisses assessee’s writ challenging transfer/centralisation of case u/s 127 for coordinated post search investigation and meaningful assessment, pursuant to proceedings u/s 133A; Rejects assessee’s plea that failure to

Nov 18,2016

HC: Settlement commission not entitled to 'review' own order, quashes order

Madras HC quashes order passed by the Income Tax Settlement Commission (‘ITSC’) rectifying / reviewing the order passed u/s 145D(4) for AYs 1988-89 to 1994-95 based on Revenue’s miscellaneous petition; Sec. 245F (conferring powers on

Nov 17,2016

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