SC

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

SC: Lays down law on loss set-off for Sec 10A/10B units in Yokogawa case

SC rules upon issue of set-off of losses of Sec. 10A/10B units, non- eligible units while computing benefit allowable u/s 10A/10B in Yokogawa India and other cases; Holds that Sec.

Dec 16,2016

SC: Cites Calcutta Discounts ratio to allow writ against re-assessment notice; Chhhabildas inapplicable

SC sets-aside HC judgements in a batch of over 40 cases including Jeans Knit P. Ltd., Kalanithi Maran; SC notes that HC had dismissed taxpayers’ writ petitions against notice issued u/s

Dec 16,2016

SC: Dismisses Revenue’s SLP challenging grant of Sec.80IB housing deduction on 'part project'

SC dismisses Revenue’s SLP against Delhi HC judgement in the case of Omaxe Buidhome Pvt. Ltd. for AYs 2007-08 to 2009-10; HC had granted Sec. 80IB(10) deduction to assessee-builder/developer in

Dec 16,2016

SC: Reverses HC; Subvention for subsidiary’s losses from holding company , a non-taxable capital receipt

SC reverses Karnataka HC ruling, holds subvention receipts by Siemens from its German parent for recoupment of losses, a non-taxable capital receipt for AYs 1999-00 to 2001-02; HC had held

Dec 10,2016

SC: Overrules HC; Rent from former Ruler's residential palace eligible for Sec 10(19A) exemption

SC reverses Rajasthan HC ruling, grants exemption u/s  10(19A) to assessee-individual (erstwhile Ruler of the princely State of Kota, which is now part of Rajasthan) on rental income derived from letting

Dec 06,2016

SC: Dismisses Revenue’s SLP against Uttarakhand HC's ONGC ruling

SC dismisses Revenue’s SLP against Uttarakhand HC order in the case of ONGC;  HC had dismissed Revenue's appeal on Dry Docking expenditure, which was held as revenue in nature by ITAT; SC

Dec 02,2016

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