HC: Upholds deletion of Sec. 40(A)(3) disallowance, cash purchases from individual agriculturist below prescribed-limit

Kerala HC upholds ITAT third member view holding no Sec 40A(3) disallowance for purchase of rice made in cash beyond the prescribed limit of Rs. 20,000; Observes that purchases from

Nov 08,2017

HC: Delhi HC strikes down several ICDS standards as ultra-vires; Can't overrule binding judicial precedents

Delhi HC, in order to preserve constitutionality of ICDS, reads down Sec.145 (2) of Income tax Act, restricts power of Central Govt. to notify ICDS so as to ensure that

Nov 08,2017

HC: After Kerala, Madras HC grants interim relief, allows taxpayer to file return sans Aadhaar

Madras HC grants interim relief to individual assessee on Aadhaar-PAN linkage and directs Revenue to permit assessee to file her income tax return for AY 2017-18 either manually or through

Nov 03,2017

HC: Reverses ITAT; Including ‘Bank’ in co-operative society’s name cannot disentitle Sec. 80P benefit

Andhra Pradesh and Telangana HC reverses ITAT order, allows Sec.80P deduction to assessee (a co-operative society)  for AYs 2007-08 to 2009-10; Assessee claimed deduction u/s 80P(2) on the ground that it

Nov 03,2017

HC: Full Bench: Settles Sec 10A/10B tax-holiday eligibility on interest income in taxpayer’s favour

Full Bench of the Karnataka High Court rules in favour of  taxpayer, holds that income by way of interest on bank deposits or staff loans earned by 100% export oriented unit is

Nov 01,2017

HC: Allows ESPN's writs, quashes re-opening; Calls out AO's 'unacceptable conduct'

Delhi HC allows writ petitions filed by ESPN Mauritius entities, quashes re-opening notices issued by AO; HC also quashes assessment orders passed by the AO in complete disregard of both earlier

Oct 31,2017

HC: Allows Sec. 80IA(4) benefit to developer despite assigning maintenance/operations of infra facility

Gujarat HC upholds ITAT order for AY 2003-04, allows Sec. 80IA(4) deduction to assessee company (entrusted with the road project by Government on BOT basis), despite assessee assigning the task

Oct 31,2017

HC: Early SPN redemption, clever but permissible tax planning; Interest deductible u/s. 36(1)(iii); Reverses ITAT

Gujarat HC reverses ITAT order, allows deduction u/s. 36(1)(iii) for interest on Special Purpose Notes (‘SPN’) to Nirma Ltd. (assessee)  claimed upon pre-mature redemption of SPNs during AY 1999-2000; HC notes

Oct 31,2017

HC: No automatic stay vacation u/s. 254(2A) proviso, unless assessee responsible for procrastination of hearing

Andhra Pradesh & Telangana HC holds proviso to Sec. 254(2A) as directory, notes that Sec. 254(2A) uses the phrase ‘wherever it is possible’ implying that the Parliament had thought it

Oct 30,2017

HC: Payment by Hospital to retainer doctors , professional fees and not salary

Rajasthan HC reverses ITAT order, holds that payments made by  assessee (running a Hospital) to retainer doctors are in the nature of professional fees and not salary, TDS u/s. 194J

Oct 27,2017