SC: Reverses HC, Presumptive tax provision u/s 44AD inapplicable if gross-receipts exceed eligible limit

SC reverses HC order for AY 2009-10, holds special provisions u/s 44AD not applicable to assessee (engaged in civil contracts businesss) as the gross receipts exceed the eligible limit of

Sep 23,2016

SC: Share capital not business income, despite received towards allotment of flats/units

SC modifies Karnataka HC order on the issue of taxability of amount received by assessee-company (engaged in real estate business) on account of share capital from various share-holders, holds that

Sep 20,2016

SC: Allows Revenue's plea, HC to reexamine if SEZ’s trading activity constitutes ‘service’ u/s 10AA

SC sets-aside Andhra Pradesh HC judgement dismissing Revenue’s appeal; Observes that the question raised before HC was whether trading activity carried on by assessee’s SEZ unit amounts to 'service' eligible

Sep 15,2016

SC: Revenue withdraws appeal against Linde-Samsung consortium's AOP status citing CBDT's clarificatory circular

SC dismisses Revenue’s SLP against Delhi HC ruling in case of Linde AG; HC had held that consortium formed by Linde AG with Samsung (both non-residents), for undertaking a turnkey

Sep 15,2016

SC: Notes MAP resolution, dismisses infructuous Revenue SLP on UK firm taxability

SC dismisses Revenue’s SLP against Calcutta HC decision in case of P&O Nedlloyd granting India-UK DTAA benefits to assessee (a UK partnership firm); Observing that assessee has accepted the terms contained in MAP resolution

Sep 07,2016

SC: Confirms HC; Timelimit u/s 275(1)(c) applicable for penalty with respect to Sec. 269SS/T default

SC dismisses Revenue’s appeal against Rajasthan HC ruling in Hissaria Brothers deleting penalty u/s 271D/E for Sec 269SS/T default (accepting/repaying loan in cash); HC had held that penalty order was

Aug 30,2016

SC: Dismisses review petition; Upholds Sec 10(23C) exemption denial to "Prosperous” Visvesvaraya University

SC dismisses review petition against its earlier order dated April 22, 2016 denying exemption u/s 10(23C)(iiiab) to Visvesvaraya Technological University (‘VTU’ ) on the ground that it doesn’t satisfy the

Aug 29,2016

SC: Dismisses SLP; Assessee’s conduct indicative of having accepted jurisdiction under transfer-order u/s 127

SC dismisses assessee’s SLP against Bombay HC judgement; HC had dismissed assessee’s  writ petition challenging order u/s 127 dated August 31, 2012 transferring assessee’s file from Mumbai to Hyderabad; HC

Aug 17,2016

SC: Dismisses SLP, 2014 amendment cannot revive Oracle’s ‘concluded’ Sec 201 proceedings

SC dismisses Revenue’s SLP against Delhi HC judgement quashing Sec 201 notice dated January 20, 2015 in case of Oracle India Pvt. Ltd. (‘assessee’) for AY 2008-09; Earlier, HC had

Aug 16,2016

SC: Resolves business income vs house property controversy on lease-rentals in assessee's favour

SC reverses Madras HC judgement, rules in favour of assessee-company; Holds rental income arising to assessee from leasing property taxable as 'business income' and not 'house property' income, notes that

Aug 11,2016