SC: Receipt on SARs redemption not perquisite pre-2000; Clause (iiia) to Sec 17(2) prospective

SC dismisses Revenue's appeal, holds that amount received by assessee (Chairman and Managing Director of Procter and Gamble India) towards redemption of Stock Appreciation Rights (SARs) is to be treated

Apr 25,2018

SC: No double taxation of Sikkim lottery-income pre-1990 absent specific enabling provision

SC holds that assessee’s (an individual, resident in India) lottery income from Sikkim cannot be taxed under Income-tax Act, 1961 for AY 1986-87 as the same was already taxed under

Apr 25,2018

SC: Denies Sec 80-O deduction citing assessee's failure to prove 'technical' nature of services

SC upholds HC-order disallowing Sec 80-O deduction claimed by assessee [for rendering specialized industrial and commercial knowledge relating to the Indian automobile industry to Sumitomo Corporation, Japan] for AY 1997-98

Apr 25,2018

SC: Quashes reassessment proceedings as notice u/s 143 assessment addressed similar issue on Sec 10A

SC upholds HC’s quashing of reassessment proceedings, holds that initiation of such proceedings merely on account of AO's view that Sec 10A deduction was allowed in excess was based on

Apr 25,2018

SC: 'Incidental' FD interest on share application proceeds, non-taxable ; Deductible against IPO expenses

SC holds that interest income earned on share application money kept in fixed deposits as per the statutory requirements, is not taxable as Income from Other Sources; Upholds HC decision

Apr 25,2018

SC: Dismisses Skylight Hospitality's SLP; Re-assessment notice on dissolved company, an error curable u/s. 292B

SC dismisses SLP filed by Sky Light Hospitality LLP (converted into LLP from Pvt. Ltd. Co. and where Mr. Robert Vadra is one of the LLP partners) challenging Delhi HC

Apr 10,2018

SC: Upholds HC; Prasar Bharati’s commission payments to advertising agencies, attract TDS u/s. 194H

SC upholds HC order, commission payment by Prasar Bharati Doordarshan Kendra to various accredited advertising Agencies  during AYs 2002-03 and 2003-04 attract TDS u/s. 194H, upholds TDS default proceedings u/s.

Apr 04,2018

SC: Dismisses SLP; TDS-default proceedings on Tata-Teleservices for pre April’07 period unsustainable

SC dismisses Revenue’s SLP against Delhi HC judgment allowing Tata Teleservices’s writ; HC had quashed Sec 201(1)/(1A) proceeding relating to periods prior to April 2007 in respect of TDS default

Apr 03,2018

SC: Dismisses Revenue’s SLP; Television news software export eligible for Sec. 80HHE benefit

SC dismisses Revenue’s SLP against Delhi HC judgement allowing Sec. 80HHE deduction to New Delhi Television Ltd. ('NDTV', assessee) for AY 1999-00; HC had observed that television news software exported

Apr 02,2018

SC: Dismisses SLP; AO cannot ‘re-assess’ claim pending before appellate forum

SC dismisses Revenue’s SLP against Gujarat HC quashing re-assessment for AY 2010-2011 on assessee- partnership firm on the ground that the reason stated for re-opening was subject matter of appeal

Mar 29,2018