HC: Directs refund processing pending scrutiny notice; Taxpayer drops constitutional challenge to Sec 143(1D)

Bombay HC directs expeditious processing of assessee’s Rs 19 crores refund application for AY 2014-15 in accordance with law, despite Sec 143(2) notice issued; Revenue had argued that refund cannot

Dec 09,2016

HC: No capital gains upon firm's Chapter-IX conversion into company despite premature share-transfer

Bombay High Court dismisses Revenue's writ against AAR ruling involving a Luxembourg based non-resident applicant on the issue of capital gains;   HC approves AAR's finding that "In  part  IX  of 

Dec 08,2016

HC: Revenue not debarred from making Sec.14A disallowance absent express recording of dissatisfaction

Delhi HC dismisses asseessee’s (an NBFC) appeal for AY 2009-10, upholds Sec 14A disallowance as computed by AO; During relevant AY, assessee had suo-motu offered Rs. 25 lakhs as expenses

Dec 07,2016

HC: Draws credence from buyer's ruling; Accepts seller's Sec 50B ‘slump-sale’ genuineness

Delhi HC sets-aside ITAT order,  grants slump-sale benefit u/s 50B for AY 2007-08 to seller citing similar treatment in the hands of the acquirer, treats capital gains as long term; Rejects Revenue’s

Dec 07,2016

HC: Reverses AAR, Formula One Championship circuit constitutes fixed-place PE

Delhi HC reverses AAR order in the case of Formula One World Championship Ltd. (‘FOWC’ / ‘assessee’, a UK tax resident Company), holds that assessee constituted a fixed place PE

Dec 02,2016

HC: Quashes reassessment proceedings u/s 147/148; Relies on Kelvinator India (SC)

Delhi HC dismisses Revenue’s appeal,  quashes reassessment proceedings initiated u/s 147/148; Notes that assessee’s claim for provision of bad and doubtful debts was considered by the AO in original assessment completed u/s

Dec 02,2016

HC: Lack of “precise” reasons in notice issued u/s 127 doesn’t constitute fatal infirmity

Delhi HC dismisses assessee’s writ challenging transfer/ centralisation of cases u/s 127 pursuant to search proceedings carried out u/s 132; Notes that the very first sentence in the notice specifically alluded

Nov 25,2016

HC: Tribunal duty-bound to consider assessee’s alternative plea raised during hearing

Bombay HC allows assessee’s writ for AYs 1987-88 &1988-89, holds that the Tribunal is duty–bound to grant relief to the assessee as claimed during the hearing, even if there is no

Nov 25,2016

HC: Upholds transfer u/s 127 for coordinated post search investigation

Delhi HC dismisses assessee’s writ challenging transfer/centralisation of case u/s 127 for coordinated post search investigation and meaningful assessment, pursuant to proceedings u/s 133A; Rejects assessee’s plea that failure to mention any reason

Nov 25,2016

HC: Upholds rejection of Sec 234A/B/C interest waiver application; Pending quantum appeal irrelevant

Bombay HC dismisses asssessee’s writ challenging Chief Commissioner’s order u/s 119(2) rejecting assessee’s application for waiver of interest u/s 234A/B/C for non-payment of advance tax on capital gains arising during

Nov 24,2016