SC: Quashes reassessment, rent taxable when right to receive vests, retrospective enhancement irrelevant

SC allows assessee’s SLP, quashes reassessment proceedings initiated u/s 147/148 for AY 1989-90 to tax enhanced rental income from premises let to the Government; Rent was enhanced vide letter issued

May 10,2016

SC: Upholds Sec.234A/B/C interest deletion, given Revenue’s failure to adjust seized cash against tax-liability

SC dismisses Revenue’s SLP appeal against Allahabad HC  order; HC had deleted interest levied u/s 234A/B/C for AY 2010-11, as Revenue had failed to adjust seized cash (available before return filing due-date, in

May 05,2016

SC: 'Special-audits' intergral to assessment, excludes stay period for block-assessment limitation

SC dismisses assessee's appeal with cost, confirms HC order excluding period for which interim stay against special audit direction u/s 142(2A) was in operation for counting period of limitation for

Apr 28,2016

SC: Hotel tips not salary absent reference to employment contract, TDS inapplicable

SC reverses Delhi HC order, holds that TDS u/s 192 on salaries is not applicable on payment of tips by assessee hotel to its staff/waiters; Observes that tips are voluntary

Apr 26,2016

SC: "Prosperous” Visvesvaraya University denied Sec. 10(23C) exemption; Rejects characterization of fees as Govt grant

SC upholds HC order, denies exemption u/s 10(23C)(iiiab) to Visvesvaraya Technological University (‘VTU’ ) on the ground that it doesn’t satisfy the condition of being an institution ‘wholly or substantially financed

Apr 23,2016

SC: SC dismisses Revenue’s SLP; Wheeling charges neither rent nor service

SC dismisses Revenue’s appeal against Bombay HC order holding that payment for transmission/ wheeling charges neither qualify as rent (u/s 194I) nor as FTS (u/s 194J) and thus no TDS

Apr 22,2016

SC: Dismisses Revenue’s SLP; No Sec 194J TDS on wheeling charges for electricity transmission

SC dismisses Revenue’s SLP against Delhi HC order holding that payment towards “wheeling charges” was not taxable as FTS u/s 194J; HC had accepted assessee’s plea that payment was towards

Apr 19,2016

SC: Dismisses taxpayer's SLP; Surrender of 'Floor Area Ratio' liable to capital gains

SC dismisses assessee’s SLP against Karnataka HC judgement; HC had held that surrender of Floor Area Ratio (‘FAR’) relating to land in favour of developer for construction of flats amounts

Apr 19,2016

SC: Reverses HC; Allows Sec 80HHC deduction to exporter on incentive-payments from export-houses

SC sets-aside Madras HC order, allows Sec 80HHC deduction on services charges / incentive payments received by assessee (marine products exporter) from export houses for AY 1994-95; Assessee had received 3.5% of FOB

Mar 31,2016

SC: Reverses HC-ruling on stock-exchange fees; 'Specialized, exclusive' attributes distinguish service from facility

Supreme Court lays down law 'technical services' definition u/s 9(1)(vii), distinguishes 'service' from a 'facility'; Reversing Bombay HC ruling, SC holds that transaction charges paid by stock exchange members to BSE do

Mar 30,2016