HC: Allows additional depreciation u/s 32(1)(iia) on machinery used for production of ready mix concrete

Madras HC reverses ITAT order, allows additional depreciation u/s 32(1)(iia) on the machinery used for production of ready mix concrete for AY 2011-12 in the case of the assessee engaged

Dec 01,2017

HC: Denies adjustment upto Rs.20,000 threshold u/s 269SS for ‘cash’ loan, upholds penalty

Allahabad HC upholds penalty levy u/s. 271D for cash loans taken by assessee-individual in violation of Sec.269SS provisions during AY 1999-00;  Rejects assessee’s claim that in view of the statutory

Dec 01,2017

HC: Holds taxpayer guilty for false depreciation claim, rejects 'clerical error' plea

Delhi HC confirms the judgement and order of sentence passed by Additional Chief Metropolitan Magistrate (‘ACMM’), holds assessee-company guilty u/s. 276C/277 of the Income Tax Act for false depreciation claim

Nov 30,2017

HC: Upholds ITAT; Compensation received for breach of ‘ROFR’, a capital receipt

Bombay HC upholds ITAT order, rules that compensation received by 2 Parle Group companies (‘assessees’) in AY 1998-99 for breach of Right of First Refusal (‘ROFR’) granted by Coca Cola USA

Nov 29,2017

HC: Non-compete payment towards other obligations/covenants; Holds competitive threats "illusory", denies deduction

Delhi HC denies deduction to assessee (an Indian Arm of the GKN group based in Germany and engaged in manufacture and sale of axle assembly for vehicles) with respect to

Nov 28,2017

HC: Grants Sec.80-IA benefit to taxpayer’s power distribution undertaking considering substantial renovation, modernization

Kerala HC reverses ITAT order for AY 2008-09, grants Sec.80-IA benefit to assessee-company, rules that fulfilling any one of the conditions contained in clauses (a), (b) and (c) of Sec. 80-IA(4)(iv) is

Nov 28,2017

HC: Denies Sec.80-IC deduction on FD interest despite assessable as business income

Uttarakhand HC denies Sec. 80-IC deduction to assessee-undertaking (engaged in manufacturing electric meters) during AY 2009-10 with respect to interest earned on fixed deposit with bank, rules that Sec.80-IC benefit

Nov 28,2017

HC: Revision Petition u/s 264 maintainable, not availing appeal remedy no bar for availing right u/s. 264

Delhi HC allows non-resident assessee’s writ for AY 2012-13, holds revision petition u/s 264 maintainable; HC notes that the assessee had offered income u/s 44BB whereas AO taxed it as

Nov 24,2017

HC: Income from licensing fully established running hotel, business income for hotel operator

Kerala HC reverses ITAT order for AY 2005-06, holds license fee received by assessee (operating hotels) for giving the hotel along with furniture and fixtures on license, taxable as 'business

Nov 22,2017

HC: Judges split over non-discrimination benefit, requirement to examine PE-status for TDS u/s 195

Delhi HC judges differ on the interplay between Sec 40(a)(i) expense disallowance for Sec. 195 TDS default on payment by assessee (Mitsubishi India, ‘MI’) to group companies (based in Japan,

Nov 21,2017