HC: Quashes re-assessment notice as taxpayer disclosed source for cash deposited post demonetization

Gujarat HC quashes re-assessment notice on assessee-individual for AY 2015-16 on the basis of cash deposited by assessee during post demonetization period; AO held that assessee’s returned income of Rs.

Sep 17,2018

HC: Upholds penalty; Rejects Finance co. ’s inadvertent mistake plea in claiming land keep-up expenses

Madras HC rules in favour of Revenue, upholds penalty levy u/s 271(1)(c) on assessee-company (engaged in financial services) for wrongly claiming non-business expense (i.e. land keep-up expenses) during AY 1989-90;

Sep 14,2018

HC: Reprimands Revenue for high handed recovery; Highlights AO’s incompetence to understand law

Karnataka HC admonishes AO for attaching assessee’s bank account for recovery of entire tax demand immediately upon CIT(A)’s confirmation of assessment order, without waiting for appeal period statutorily provided u/s.

Sep 12,2018

HC: Denies capital gains exemption absent shares allotment by Successor Co within reasonable time

Karnataka HC rules in favour of Revenue, holds the successor-company liable for capital gains tax for AY 2000-01 due to failure to comply with Sec. 47(xiii)(b) condition for availing capital

Sep 11,2018

HC: Dismisses Rahul and Sonia Gandhi's writ petition challenging reassessment on National Herald issue

Delhi HC dismisses writ petition filed by Ms Sonai Gandhi, Mr Rahul Gandhi and Mr Oscar Fernandes challenging reassessment with respect to National Herald issue; AO reopened the assessments alleging

Sep 10,2018

HC: TDS u/s. 194LA inapplicable on providing tenements for squatters'/ hutment dwellers' rehabilitation

Bombay HC dismisses Revenue’s appeals for AYs 2000-01 to 2009-10, holds that the regional development authority (assessee) not liable to deduct TDS u/s. 194L / LA on providing tenements to the

Sep 10,2018

HC: ‘True & full disclosure’ - life-line of Settlement proceedings, rejects its deferral till finalisation

Madras HC dismisses assessee’s writ against Settlement Commission (ITSC) order rejecting assessee's settlement application, based on a report received by Revenue u/s 245D(2B) stating that assessee has not made a

Sep 07,2018

HC: Deletes Sec. 271(1)(c) penalty; HC’s quantum appeal admission indicates ‘debatable’ issue

Bombay HC dismisses Revenue’s appeal, deletes penalty levy u/s. 271(1)(c) in case of assessee co. dealing in pan masala, tobacco products for AYs 2003-04, 2004-05 and 2005-06; HC notes that

Sep 06,2018

HC: Holds ITAT’s remand, ‘cryptic’; Materials on record sufficient to examine PE constitution

Bombay HC holds ITAT’s remand to AO for examining whether assessee (a Dutch company) has a PE in India, as ‘cryptic’, accepts assessee’s stand that the Tribunal should not have remanded

Sep 05,2018

HC: Block assessment annulment can't result into refund of tax admitted in return

Madras HC rejects assessee’s claim of refund of entire tax paid in view of block assessment annulled by Tribunal, holds that by virtue of nullifying of assessment, there is deemed

Sep 05,2018