HC: Non-compete fee to director, a deductible revenue expenditure; Distinguishes Sharp Business System ruling

Madras HC reverses ITAT order for AY 2000-01, Rejects Revenue's capital expenditure plea for non-compete fees paid by assessee-company (a television broadcasting co.) to one of its directors for not

Aug 03,2018

HC: No transfer upon entering into unregistered development agreement, Chaturbhuj Dwarkadas ruling inapplicable

Bombay HC upholds ITAT order in case of Mr. Fardeen Khan (assessee), rules that there was no transfer u/s 2(47)(v) upon entering into Development Agreement during subject AY 2008-09, since

Aug 02,2018

HC: Copy of Madras HC ruling granting interim relief by allowing manual return filing

Madras HC grants interim relief to petitioners by allowing them to file income-tax return for AY 2018-2019 manually  without an Aadhaar number, however, holds that “These returns will have to be filed

Jul 28,2018

HC: Directs CBDT to allow filing of IT return without furnishing Aadhaar No.

Delhi HC allows assessees’ writ and directs CBDT to issue an appropriate direction and create a platform by amending the digital IT return forms or  substituting them properly to enable “opt

Jul 27,2018

HC: ITAT’s setting aside revisionary order u/s 263 ‘faulty’, amounts to putting gloss over AO’s glaring omissions

Delhi HC holds ITAT’s approach of setting aside CIT’s revisionary order u/s 263 as ‘faulty’; Notes that CIT had observed that AO had failed to make any enquiry as regards

Jul 27,2018

HC: Interest on mobilization advance to contractors, a capital receipt; Dissents from co-ordinate bench

Kerala HC reverses ITAT order, rules that interest received by assessee (engaged in construction of roads / bridges) on mobilization advance made to contractors to ensure smooth commencement and completion

Jul 27,2018

HC: Directs AO to consider assessee’s claim u/s 80HHC when SC had nullified retrospective amendment to 80HHC(3)

Kerala HC directs ACIT to consider assessee’s claim of deduction u/s 80HHC where the retrospective amendment to Sec. 80HHC(3) was nullified by Gujarat HC and SC refused to interfere on

Jul 27,2018

HC: Confirms Sec 68 addition for gift from father-in-law despite receipt through banking channels

Andhra Pradesh and Telangana HC confirms ITAT order to uphold Sec 68 addition for gifts received by assessee-invidual from his father-in-law for AY 2005-06, rejects assessee's reliance on co-ordinate bench

Jul 27,2018

HC: Putting mushroom powder into capsule amounts to 'manufacture', grants Sec 80-IB benefit.

Madras HC reverses ITAT order for AYs 2003-04 & 2004-05, holds that the process of putting mushroom powder into capsule amounts to manufacture or production eligible for deduction u/s 80IB;

Jul 26,2018

HC: Weighs favourable 2G judgment vis-a-vis 'illustrative' CBDT instruction, directs re-consideration of Kalaignar TV's stay-plea

Madras HC sets aside CIT’s order directing Kaliagnar TV (‘assessee’) to pay 20% demand as a condition precedent for staying demand of approx. Rs. 90 cr for AYs 2009-10 and

Jul 25,2018