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

SC: Dismisses Shibu Soren’s SLP, HC had struck down ITAT order quashing block assessment

SC dismisses Shibu Soren’s (‘assessee’) SLP against Delhi HC ruling; HC had struck down Tribunal order wherein it was held that no addition could be made in the block assessment proceedings in

Mar 18,2016

SC: SC modifies HC order with respect to de-novo adjudication on Sec 54F exemption claim

SC modifies Kerala HC order with respect to assessee’s capital gains exemption claim u/s 54F; HC had ruled that for claiming Sec 54F exemption, the date relevant for investment in residential

Mar 14,2016

SC: Allows Sec 80IB/IC deduction on subsidies applying ‘direct-nexus’ test; Distinguishes Pandian, Liberty rulings

SC rules in favour of taxpayer, upholds Gauhati, Delhi and Calcutta HC orders and rules that various subsidies (transport, power, interest and insurance) received qualify for incentive deduction u/s 80IB

Mar 14,2016