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

SC: Dismisses Revenue’s SLP; Allows Sec. 244A interest on TDS refund to deductee

SC dismisses CBDT’s SLP against Meghalaya HC ruling allowing Sec. 244A interest on TDS refund  to assessee-deductee (a co-operative bank) for AYs 2000-01 to 2003-04; With respect to TDS on

Mar 21,2018

SC: Re-assessment initiation based on PE allegation not sustainable once arm's-length threshold met

SC allows Honda Motor’s (a Japanese company) appeal and sets aside Allahabad HC ruling, quashes issuance of re-assessment notice;  HC had dismissed assessee’s writ and had upheld re-assessment based on material

Mar 20,2018

SC: Upholds Sec. 14A disallowance on strategic investments; Dominant purpose test irrelevant

SC upholds Delhi HC ruling in Maxopp Investments Ltd., holds that interest paid on borrowings used for acquiring strategic investments is subject to Sec 14A disallowance even if earning dividend

Mar 16,2018

SC: Explains State's powers regarding amendments undoing court judgments; Quashes retrospective application

SC rules on the State's powers to amend law so as to undo the Court's judgment in context of Karnataka Money Lenders Act ('ML Act') and Karnataka Pawn Brokers Act

Mar 16,2018

SC: Co-op Society exempt on transfer-fee received from transferee; Explains mutuality principle

SC rules against the Revenue in a batch of over 50 appeals, holds that receipts by premises cooperative societies (assessees) from its members, on account of non-occupancy charges, transfer charges, common

Mar 14,2018

SC: Lifts corporate veil of Multinational Accounting Firms, raps ICAI for inaction

SC, in a detailed 75 pages judgment, lifts corporate veil of Multinational Accounting Firms (MAFs), holds that MAFs violate CA Act, orders further investigation by Enforcement Directorate & examination by

Feb 23,2018

SC: Reverses HC’s quashing of Sec. 143(2) notice served beyond 12 months, considering peculiar circumstances

SC reverses HC order quashing notice issued u/s 143(2) which was served on assessee after 12 months from the end of the month in which return was filed; Assessee filed

Feb 23,2018