SC

SC: Deftly handles SLP against Cyprus blacklisting, guides assessee towards CBDT's rescission notification

SC disposes of SLP against Madras HC ruling upholding the blacklisting of Cyprus as a '‘non-cooperative jurisdiction’ u/s 94A;  Pursuant to assessee producing before the court a copy of the recent CBDT

Jan 16,2017

SC: Dismisses assessee’s SLP challenging share-application money probe u/s 263

SC dismisses assessee’s SLP against Calcutta HC order in the case of Rajmandir Estates Pvt. Ltd. for AY 2009-10; HC had upheld CIT’s Sec. 263 order directing further investigation into share application

Jan 14,2017

SC: Dismisses United Breweries' SLP against disallowance of guarantee commission payment to Mallya

SC dismisses United Breweries Ltd.’s SLP against Karnataka HC ruling for AYs 1990-91 to 1992-93; HC had denied deduction u/s 37 for guarantee commission paid by United Breweries to its Chairman cum

Jan 13,2017

SC: Dismisses SLP; Sec 271D penalty levy upheld for accepting cash-loan from director

SC dismisses assessee’s SLP against Rajasthan HC judgement upholding levy of penalty u/s 271D for Sec 269SS violation; During AYs 1992-93 and 1993-94, assessee (engaged in cement manufacturing) had accepted

Jan 12,2017

SC: Upholds deemed dividend addition on HUF despite shares issued in Karta's name

SC upholds deemed dividend addition u/s 2(22)(e) on assessee-HUF for AY 2006-07 with respect to loan/advances received from one concern (in which it beneficially held more than 10% share-capital); Rejects

Jan 05,2017

SC: Dismisses Revenue's SLP; Invoking revision-proceedings u/s 263 barred in case of "inadequate inquiry"

SC dismisses Revenue’s SLP challenging Bombay HC order quashing CIT’s order u/s 263 (revision proceedings) for AYs 2007-08 and 2008-09; CIT (A) had set aside assessment orders due to lack

Dec 30,2016

SC: Dismisses Revenue’s SLP against HC allowing AAR-application disreagrding 'standard' Sec 143(2) notice

SC dismisses Revenue’s SLP against Delhi HC judgment in the case of Hyosung Corporation & Anr. ( a Korean Company) for AY 2010-11; Delhi HC had allowed assessee’s writ against AAR

Dec 20,2016

SC: Dismisses taxpayer’s challenge to IDS-2 scheme, refrains from encroaching into policy domain

SC dismisses taxpayer’s writ challenging the Pradhan Mantri Garib Kalyan Yojna, 2016 (‘the scheme’) ; Petitioner had argued that the Union of India could have come with a better scheme

Dec 19,2016

SC: Dismisses taxpayer’s challenge to IDS-2 scheme, refrains from encroaching into policy domain

SC dismisses taxpayer’s writ challenging the Pradhan Mantri Garib Kalyan Yojna, 2016 (‘the scheme’) ; Petitioner had argued that the Union of India could have come with a better scheme

Dec 19,2016

SC: No Sec 234B/C interest on employee for employer's TDS default on non-compete fees

SC sets-aside Madras HC directions to the extent of levying interest u/s 234B/C on assessee-director for non-payment of tax on non-compete fees which was  assessed as ‘salary income’ for AY

Dec 19,2016

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