HC: Rejects demonetisation alibi for missing IDS installment deadline

Nandu Atmaram Wajekar (‘assessee’) filed a declaration under the Income Declaration Scheme, 2016 (part of the Finance Act, 2016) (‘Scheme’) on September 30, 2016 declaring undisclosed income of Rs.11.59 crores  

Apr 10,2017

HC: Allows balance additional depreciation in succeeding year; Finance Act, 2016 amendment, retrospective

Madras HC upholds ITAT’s order, allows assessee-company's balance additional depreciation claim u/s 32(1)(iia) (which provides for additional 20% depreciation on new plant and machinery installed) in subject AY 2011-12; Rejects

Apr 07,2017

HC: Exorbitant ‘legal fees’ no ground to deny Sec. 37 deduction claim

Madras HC upholds ITAT order, allows deduction for payment of legal fees for seeking advice in connection with protecting assessee’s rights in a registered software during AY 2006-07; Rejects Revenue’s

Apr 07,2017

HC: Sec. 68 proviso relating share-premium receipts, prospective; Lovely Exports ratio holds fort pre-2012

Bombay HC upholds ITAT order deleting unexplained cash credit addition u/s. 68 with respect to share premium received by assessee-company during AY 2008-09; HC notes that Revenue had invoked proviso

Apr 06,2017

HC: Local land laws relevant for characterization as agricultural land, rejects un-cultivable land plea

Bombay HC reverses ITAT order, exempts land-transfer from capital gains tax for AY 2007-08, accepts assessees’ plea that land was ‘agricultural’ in nature; ITAT had held land as non-agricultural observing that it was un-cultivable and that only

Apr 05,2017

HC: Allows advance-tax credit under IDS; No "intelligible differentia" between TDS, advance-tax

Delhi HC allows assessee-company’s writ, directs Revenue to grant credit of advance tax paid and TDS deducted against the tax payable under the Income Declaration Scheme, 2016 (‘IDS’); HC notes

Apr 03,2017

HC: AO cannot curtail earlier relief in remand proceedings, reinstates Telenor's 85% stay

Delhi HC sets-aside AO’s order on stay of demand to the extent it reviewed the previous order in case of assessee (Telenor (India) Communications Pvt. Ltd.) for AY 2014-15; AO had originally granted

Mar 31,2017

HC: Dismisses taxpayer’s writ; Permits Rs 900 cr. refund adjustment u/s 245 against subsequent year’s ‘stayed’ demand

Madhya Pradesh HC dismisses assessee’s writ, approves adjustment u/s. 245 of Rs. 900 cr. refund for AY 2012-13 against demand for subsequent AYs 2013-14 & 2014-15; Rejects assessee’s stand that

Mar 30,2017

HC: Compensation to employees of sick Govt company under special package exempt u/s 10(10B)

Madras HC grants exemption u/s 10(10B) on VRS payment receivable by employees of  Hindustan Photo Film Manufacturing company Ltd. (‘HPF’)], thus holds that payment is not subject to TDS; HPF, a wholly owned

Mar 30,2017

HC: HC-appeal limitation period begins even if non-jurisdictional 'commissioner' receives ITAT order

Delhi HC larger bench rules that words ‘the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner’ occurring in Sec 260A(2)(a) (relating to limitation period for filing appeal before HC)

Mar 25,2017