HC: Restrains Vodafone from pursuing parallel arbitrations under Netherlands & UK BIPA for identical reliefs

Delhi HC restrains Vodafone Group Plc. UK (defendant) from initiating parallel arbitration proceedings under India-UK Bilateral Investment Promotion and Protection Agreement (‘BIPA’), while the arbitration under India-Netherlands BIPA is pending;

Aug 23,2017

HC: Holds non-compete agreement as genuine recognizing taxpayer’s stature in advertising industry

Delhi HC confirms ITAT order for AY 1995-96, holds that non-compete fee received by assessee-individual (who was working as the President of TSME, an advertising agency and was holding 51%

Aug 22,2017

HC: Upholds assessee's writ; Withdrawal of earlier deduction claims eligible for settlement u/s 245C

Bombay HC allows assessee-company’s ( a step-down subsidiary company of the Norway based Telenor Group) writ, sets-aside Income-tax Settlement Commission (‘ITSC’) order rejecting assessee’s settlement application on the ground that assessee failed to

Aug 22,2017

HC: Film artist's non-compete arrangement only a smoke screen, payment taxable as revenue receipt

Madras HC reverses ITAT order for AY 2001-02, confirms taxation of non-compete fee received by assessee-individual (a film artist) from a media company (in which assessee is a director and substantial shareholder)

Aug 21,2017

HC: AO cannot make disallowance in final order beyond draft order variations/ DRP-enhancement

Madras HC confirms ITAT order for AY 2009-10, holds that AO exceeded the jurisdiction by making new disallowance while passing order u/s 144C(13) giving effect to DRP directions when such

Aug 18,2017

HC: Allows Dept.'s withdrawal of interest granted u/s 244A to deduce tax arrears u/s 90 of KVSS, 1998

Punjab and Haryana HC upholds withdrawal of interest u/s. 244A granted on refund of tax pursuant to favourable CIT(A) order, as assessee’s declaration for settlement of dispute under the Kar Vivad

Aug 18,2017

HC: Deletes addition u/s. 68; Documentary evidences adequate to prove share application money genuineness

Bombay HC upholds ITAT order, deletes addition u/s. 68 in respect of application money received by assessee-company, holds no response/appearance by shareholders before Revenue against summons issued not fatal as

Aug 18,2017

HC: Quashes reassessment on UAE-resident; Requirement to furnish TRC applicable post 2012

Goa bench of Bombay HC allows assessee-individual’s (a tax resident of UAE) writ for AY 2005-06, quashes re-assessment initiated beyond 4 years period; During relevant AY, assessee had claimed India

Aug 18,2017

HC: Sets-aside ITAT order; Denies ‘Peak credit’ benefit as deposits remain unexplained

Delhi HC sets aside ITAT order, rejects application of ‘peak credit' principle in respect of unexplained source of deposit and corresponding outgo; While assessee-individual admitted to being an accommodation entry

Aug 17,2017

HC: Upholds provisional attachment of NDTV’s assets citing declining net-worth, assets liquidation apprehension

Delhi HC dismisses NDTV's writ, upholds re-assessment on NDTV (‘assessee’) for AY 2008-09 initiated beyond 4 years period, also upholds provisional attachment of assessee’s assets u/s. 281B;  AO had issued

Aug 17,2017