HC: EPC contractor claiming 'insurance' for equipment transit-loss, no ‘reason’ for reassessing contract-revenue

Bombay HC upholds ITAT order setting aside reassessment for AY 2000-01 in case of assessee (an EPC contractor), holds material used by AO for issuing reopening notice was without any

Oct 24,2016

HC: Directs Revenue to consider taxpayer’s compounding application, despite conviction order against taxpayer-assessee

Madras HC directs CCIT to consider assessee’s (a 71 year old lady) compounding application, despite conviction order passed by Criminal Court against assessee; Assessee was penalised and prosecuted by the

Oct 21,2016

HC: Settlement Commission application withdrawal permitted, once tax-arrears settled under KVSS

Gujarat HC quashes order passed by the Income-Tax Settlement Commission (‘ITSC’) rejecting assessee’s (an individual) application for withdrawal of settlement-application in view of certificate issued under Kar Vivad Samadhan Scheme,1998 (‘KVSS’,

Oct 17,2016

HC: Concealment penalty, a strict “civil” liability; Rejects “bonafide-belief” plea for sales-tax professional

Andhra Pradesh HC dismisses assessee’s appeal for AY 2003-04, upholds levy of penalty u/s 271(c) for concealment of income from different sources; Notes that consequent to search/survey operation u/s 132,

Oct 14,2016

HC: Non-cash capital contribution into firm not a colourable device; Exempts pre-1987 transaction

HC reverses ITAT order, capital contribution in the form of immovable properties, stocks and shares by assessee-company to a partnership-firm not a taxable transfer u/s 45 for AY 1980-81; On noting that

Oct 07,2016

HC: Delay in curing TDS certificate defects results in Sec 244A interest denial

Kerala HC dismisses assessee’s writ, upholds Chief Commissioner’s order denying interest on income-tax refund u/s 244A for the period of delay which occurred in curing defects in TDS certificates for

Oct 07,2016

HC: Upholds CBDT order denying extension of time for complying with Sec 54F requirements

Punjab and Haryana HC dismisses assessee-HUF’s writ, upholds CBDT order denying extension of time for complying with the requirements of Sec. 54F; Notes that assessee was unable to utilize the capital gains

Oct 06,2016

HC: Refund-adjustment limited to amount required for granting stay u/s 220(6); Applies CBDT's 2016 Office-Memorandum

Punjab & Haryana HC modifies order u/s 220(6) granting partial stay of demand to assessee-company, directs Revenue to adjust the refunds only to the extent of amount required for granting

Oct 03,2016

HC: Construes 'rent' u/s 22 widely; Maintenance directly paid to builder taxable in sub-licencee's hands

HC dismisses assessee’s (a sub-licencee) appeal for AY 2002-03, holds that maintenance charges paid by sub-sub-licensee directly to the builder forms part of sub-licencee assessee's rent for the purpose of computing property’s annual letting value

Sep 30,2016

HC: "Admitted" advance-tax not refundable despite 'invalid' return; Tax-levy u/s 4(1) independent of assessment-order

Delhi HC dismisses assessee-company’s writ for AY 2013-14, upholds recovery proceedings u/s 226(3); Notes that assessee’s return of income for subject AY was declared as invalid owing to its failure

Sep 30,2016