HC: Reverses ITAT order; Holds gift from brother via nephew’s bank account, taxable

Rajasthan HC reverses ITAT order of deleting disallowance made on account of gift received by assessee-individual (partner in Jewellery firm) from his brother (NRI, residing in Hong Kong) through nephew’s

Dec 22,2017

HC: Upholds grossing-up of foreign nationals’ salary u/s. 195A for tax borne by Indian agent

Kerala HC rules on Indian taxability of salary income earned by foreign nationals who were employees of the Canadian consultant engaged by an Indian company [viz. ​Kerala State Electricity Board

Dec 21,2017

HC: Adjusting 'share application money' against sales doesn't amount to cessation of liability

Allahabad HC holds that adjustment made by assessee-company during AY 2007-08 of liability towards 'share application money' received from holding company, against receivables for sales made to holding company, by

Dec 15,2017

HC: Grants MFN-clause benefit; No notification enforcing beneficial provisions of subsequent treaty necessary

Karnataka HC sets-aside CIT’s revisionary order u/s. 264 for AYs 2015-16 & 2016-17, rejects Revenue’s stand that the beneficial FTS clause under the India-Finland treaty  (which was made effective from

Dec 12,2017

HC: Upholds reopening beyond 4 years on ground of wrong accounting for amalgamation

Delhi HC dismisses assessee's writ, upholds reopening of assessment u/s 147 for AY 2007-08 and AY 2008-09 (beyond completion of 4 years of relevant AY) on ground that assessee had

Dec 12,2017

HC: Confirms Sec. 68 addition, private company cannot feign ignorance of its investors' identity

Allahabad HC upholds ITAT order making addition u/s 68 in the hands of assessee-company during AY 2007-08 with respect to share capital subscribed by investors, rules that, assessee failed to

Dec 08,2017

HC: Upholds SB ratio; Unutilized MODVAT credit at year-end not deductible u/s 43B

Delhi HC rules in favour of Revenue, refuses to grant deduction u/s 43B for AY 1999-2000 for unutilized MODVAT credit as at the end of year representing excise duty paid

Dec 07,2017

HC: Communicating reasons to assessee not necessary for case transfer within same city

Madras HC dismisses assessee’s writ petition challenging transfer of its case u/s 127 from DCIT, Corporate Circle-1(1), Chennai to the Central Circle-1(1), Chennai;  HC notes that reasons for transfer as

Dec 07,2017

HC: New units undertaking substantial expansion entitled to 100% deduction u/s Sec. 80IC

Himachal Pradesh HC reverses ITAT order in a batch of over 40 cases and rules in favour of taxpayers, allows  Sec. 80-IC benefit to units established after January 7, 2003 (i.e.

Dec 05,2017

HC: No addition u/s 68 in the first year of business; Distinguishes Kapur Brothers

Allahabad HC upholds ITAT order, deletes cash credit addition u/s. 68 in the hands of AOP-assessee in the first year of business; HC notes that on the first day of

Dec 01,2017