SC

SC: Allows Sec 80-IC tax holiday w.r.t. substantial expansion year; Ignores earlier deductions u/s 80-IA & 80-IB

SC reverses HC's conclusion, allows assessee's claim for area-specific deduction u/s 80-IC in respect of its industrial undertaking located at Himachal Pradesh, rejects Revenue's claim that tax-holiday eligibility period of

May 18,2018

SC: Dismisses assessee’s SLP ; FD-interest assessable as business income ineligible for Sec 80IC deduction

SC dismisses assessee’s SLP against Uttarakhand HC decison denying Sec.80-IC deduction on interest earned on fixed deposit with bank for AY 2009-10 as it is not 'dervied from' eligible business;

May 18,2018

SC: Paves way for Tribunal appointments where suitable retired CJ/SC judges unavailable

Consequent to its direction to constitute a three-member Committee (with one of the members being former SC judge) to examine structure of Tribunals, SC clarifies that former SC judge  who

May 17,2018

SC: Committee to urgently examine structural overhaul of Tribunals ; Autonomous 'oversight' body necessary

SC recognizes the need to revisit the structure of Tribunals in order to uphold the rule of law and independence of judiciary, states "We broadly approve the concept of having an

May 11,2018

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

SC dismisses Revenue’s SLP against Delhi HC judgement; HC had ruled that the words ‘the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner’ occurring in Sec 260A(2)(a) (relating to

May 04,2018

SC: Rescues 'marginal taxpayers', holds amendment relaxing Sec. 40 (a) (ia) disallowance rigours as retrospective

SC upholds HC rulings giving retrospective effect to Finance Act, 2010 amendment that relaxed the rigours of Sec. 40(a)(ia), providing that all TDS made during the previous year can be

May 02,2018

SC: Reverses HC, permits block assessment aided by 'simultaneous' survey on connected person

SC allows Revenue's appeal, holds that material found in the course of simultaneous survey in the premises of builder with whom assessee had transaction, can be used in assessee's block

May 02,2018

SC: Upholds Delhi-HC ruling; ICDs qualify as 'Inland Port", eligible for Sec 80IA deduction

SC upholds Delhi HC decision, rules that Inland Container Depots (ICDs) [though not regarded as 'ports' applying maritime connotation], are held as 'inland ports' for the purposes of claiming tax

May 02,2018

SC: Capital asset loan waiver neither perquisite u/s 28(iv) nor cessation of trading liability

SC rules in favour of assessee, holds that waiver of loan for acquiring capital asset cannot be taxed as income u/s 28(iv) or Sec 41(1); Notes that assessee had acquired

May 02,2018

SC: 'Export turnover' exclusions u/s. 10A deductible from 'total turnover’; Can’t import Sec. 80HHC definition

SC dismisses Revenue's appeals in a batch of over 100 cases against various High Court decisions including in HCL Technologies, Gem Plus Jewellery India Limited and Tata Elxsi Ltd, holds

May 02,2018

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