SC: Convicts Sasikala; IT-order doesn't certify lawfulness of 'source', irrelevant in corruption proceedings

SC overturns Karnataka HC ruling and restores Trial Court verdict convicting AIADMK leader, Ms. Sasikala Natarajan in disproportionate assets case, Trial Court had held accused guilty in corruption case and

Feb 14,2017

SC: Dismisses Revenue's SLP in IBM; Human skill transfer, database payments - revenue expenditure

SC dismisses Revenue’s SLP against Karnataka HC ruling in the case of IBM Global Services India Private Ltd. (‘assessee’) for AY 1998-99; HC had held that payments for domestic customer database

Feb 13,2017

SC: Dismisses SLP; Upholds HC ruling quashing TDS-default proceedings beyond 4 yrs

SC dismisses Revenue’s SLP against Delhi HC judgement in case of Tata Teleservices Ltd.; HC had quashed Sec.201(1)/(1A) proceedings on assessee in respect of TDS default on pre-paid cards payments

Feb 09,2017

SC: Grants immunity from prosecution despite belated tax payments contravening Settlement Commission directions

SC allows assessee’s appeal, grants immunity from prosecution u/s 245H despite tax & interest payments made beyond the time specified by Settlement Commission vide its final order u/s 245D(4); SC

Jan 23,2017

SC: Loose paper-sheets "irrelevant, inadmissible" evidence; Rejects investigation plea in Sahara/Birla case

SC dismisses petition filed by Shanti Bhushan & Prashant Bhushan, seeking constitution of Special Investigation Team, directing investigation of the allegedly incriminating material seized in CBI/tax department raids conducted on

Jan 19,2017

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