HC: Denies foreign tax credit u/s 91, but allows expense-deduction; Distinguishes reliance on Wipro ruling

Bombay HC upholds foreign tax credit denial u/s 91 to Reliance Infrastructure Ltd. (‘assessee’) with respect to taxes paid in Saudi Arabia during AY 1983-84, however, allows expense-deduction for foreign

Dec 23,2016

HC: Rejects ITAT’s literal interpretation to section 153C 2015-amendment; Upholds block assessment

Delhi HC reverses ITAT’s order, upholds block assessment proceedings u/s 153C against assessee for AYs 2005-06 to 2010-11; Pursuant to search operation u/s 132 in the business premises of two

Dec 23,2016

HC: Exclusive reliance on UK revenue information insufficient to reopen a decade old assessment

Delhi HC dismisses Revenue’s appeal for AY 1982-83, quashes reassessment proceedings initiated u/s 147/148 for taxing amount of interest earned on bank accounts in UK and loan advanced out of undisclosed

Dec 22,2016

HC: Dismisses writ against reassessment notice to scrutinize CCPS-premium taxability

Madras HC dismisses writ filed by assessee (a Private Ltd. Company) for AY 2009-10, upholds reassessment proceedings initiated u/s 147/148 for taxing excess share premium on issuance of compulsory convertible

Dec 21,2016

HC: Higher TDS u/s 194J inapplicable on EPC-contract payments; Human intervention didn't constitute 'technical service'

Punjab and Haryana HC dismisses Revenue’s appeal for AY 2012-13, domestic payments made by assessee-company towards erection, testing, commissioning and trial operation of the equipment to contractors did not involve provision of professional/technical

Dec 20,2016

HC: Restricts taxman's 'unlimited' TDS calls to Airtel on non-resident payments

Delhi HC relies extensively on co-ordinate bench judgment in Vodafone Essar to allow Bharti Airtel's writ petition, rules that show cause notice must be issued within a 'reasonable' time even

Dec 20,2016

HC: Sec 245D(4A) time-limit for passing Settlement Commission order mandatory, not directory; Distinguishes Star TV ratio

Karnataka HC allows assessee’s writ, quashes order passed by Income Tax Settlement Commission (‘ITSC’), being barred by limitation for AYs 2006-07 to AY 2012-13, upholds invocation of Sec 245HA(1)(iv) [which

Dec 20,2016

HC: Revenue debarred from re-looking assessee’s set-off claim by invoking Sec. 147

Delhi HC allows assessee’s writ, quashes reassessment proceedings initiated u/s 147/148 for AY 2004-05; Revenue initiated reassessment proceedings on the ground that assessee should have desisted from filing Form. 56F

Dec 16,2016

HC: Reopening valid absent assessee establishing genuineness of share-capital receipt & investors' creditworthiness

Delhi HC dismisses assessee-company’s writ for AY 2008-09, upholds reassessment proceedings initiated u/s 147/148 on account of assessee’s failure to substantiate genuineness of transactions relating to receipt of share capital; Observes that

Dec 16,2016

HC: Allows VRS exemption to retired ICICI bank employee despite belated tax-return

Madras HC allows writ filed by assessee (a senior citizen and a retired employee of ICICI Bank), grants VRS exemption u/s 10(10C) in respect of amount received under the Early Retirement Option Scheme, 2003;

Dec 15,2016