Supreme Court — Direct Tax

1. Supreme Court · 05 Aug 2016
   SC - SLP Dismissed - HC had held that no addition could be made in the block assessment proceedings for want of undisclosed income.

   Shibu Soren vs. CIT

   (2016) TaxCorp(LJ) 10790 (SC)

2. Supreme Court · 18 Jul 2016
   SC - SLP Dismissed - HC had disallowed provision for loss on transit-breakages absent scientific basis to determine the amount of provision.

   Seagram Distilleries (P) Ltd. Vs. Commissioner Of Income Tax-Iii

   (2016) TaxCorp(LJ) 10671 (SC)

3. Supreme Court · 15 Jul 2016
   SC - SLP Granted - Taxability of lease-line charges reimbursement

   DIT. vs. WNS Global Services (UK) Ltd.

   (2016) TaxCorp(LJ) 10663 (SC)

4. Supreme Court · 14 Jul 2016
   SC - SLP Dismissed - HC had held that mere sending of pre-printed notice with all ground mentioned not sufficient to levy penalty.

   CIT. vs. Veerbhadrappa Sangappa & Co.

   (2016) TaxCorp(LJ) 10654 (SC)

5. Supreme Court · 08 Jul 2016
   SC - Subsidy by way of refund of excise duty and interest for setting up new industrial undertaking is a capital receipt.

   CIT. vs. Shree Balaji Alloys

   (2016) TaxCorp(LJ) 10606 (SC)

6. Supreme Court · 07 Jul 2016
   Subsidy by way of refund of excise duty and interest for setting up a new industrial undertaking is a capital receipt & not taxable as income. Alternatively, such receipts are "derived" from the industrial undertaking and are deductible u/s 80-IB

   CIT vs. Shree Balaji Alloys

   (2016) TaxCorp(LJ) 10576 (SC) · Section 80-IB

7. Supreme Court · 06 Jul 2016
   Entire law on assessment of shipping companies under the "Tonnage Tax" Scheme in Chapter XIIG of the Income-tax Act, 1961 in the context of "slot charters" explained

   CIT vs. Trans Asian Shipping Services Pvt. Ltd

   (2016) TaxCorp(LJ) 10573 (SC)

8. Supreme Court · 06 Jul 2016
   Interest paid for broken period should not be considered as part of the purchase price, but should be allowed as revenue expenditure in the year of purchase of securities. American Express vs. CIT 258 ITR 601 (Bom) affirmed, Vijaya Bank 187 ITR 541 (SC) distinguished

   CIT vs. CitiBank N.A.

   (2016) TaxCorp(LJ) 10571 (SC)

9. Supreme Court · 02 Jun 2016
   SC - Assessee’s appeal admitted against HC-order declining intervention by way of writ to quash notices u/s 148.

   Adobe Systems Software Ireland Ltd. vs. Asstt. Director Of Income Tax

   (2016) TaxCorp(LJ) 10287 (SC)

10. Supreme Court · 27 May 2016
    SC - Where assessee was ceased to be a sick industrial undertaking, IT Department to take steps for recovery of tax.

    DGIT vs. GTC Industries Ltd.

    (2016) TaxCorp(LJ) 10251 (SC)

11. Supreme Court · 20 May 2016
    SC - Assessee is entitled to interest u/s 244(1A) on refund utilised by the revenue against outstanding tax demand.

    CIT. vs. Jyotsna Holdings Pvt. Ltd.

    (2016) TaxCorp(LJ) 10238 (SC)

12. Supreme Court · 18 May 2016
    SC - Assessment order valid even though passed beyond limitation period of two years prescribed u/s 153 as ssessment pendency before IAC to be excluded from limitation period.

    CIT. vs. Saurashtra Cement & Chem. Industries Ltd.

    (2016) TaxCorp(LJ) 10217 (SC)

13. Supreme Court · 13 May 2016
    SC - SLP Dismissed - HC had held that penalty u/s 271(1)(c) cannot be deleted on guise or pretence of legal opinion as a smokescreen and façade.

    N.G. TECHNOLOGIES (IN LIQUIDATION) Vs COMMISSIONER OF INCOME TAX

    (2016) TaxCorp(LJ) 10188 (SC)

14. Supreme Court · 11 May 2016
    SC - Where requisite and due enquiries were not made during assessment proceedings, revision u/s 263 was justified.

    CIT. vs. Amitabh Bachchan

    (2016) TaxCorp(LJ) 10187 (SC)

15. Supreme Court · 10 May 2016
    SC - Rent can be said to have accrued or arisen only when a right to receive the same is vested in the assessee even in case of retrospective enhancement.

    P.G.& W.SAWOO PVT. LTD. Vs. ACIT

    (2016) TaxCorp(LJ) 10185 (SC)

16. Supreme Court · 07 May 2016
    S. 5/ 147: Even if income by way of rent is enhanced with retrospective effect, it accrues only when a right to receive the income is vested in the assessee. A notice u/s 148 seeking to assessee the income prior to its accrual is without jurisdiction

    P.G. & W. Sawoo Pvt. Ltd vs. ACIT

    (2016) TaxCorp(LJ) 10179 (SC) · Sections 5, 147

17. Supreme Court · 05 May 2016
    SC - SLP dismissed - HC was justified in deleting interest levied u/s 234A/B/C as Revenue had failed to adjust seized cash.

    CIT. vs. Sunil Chandra Gupta

    (2016) TaxCorp(LJ) 10167 (SC) · Secton. 234A/B/C

18. Supreme Court · 28 Apr 2016
    SC - HC justified in excluding period for which interim stay against special audit direction u/s 142(2A) was in operation for counting period of limitation for passing block assessment order.

    VLS Finance Limited Vs. COMMISSIONER OF INCOME TAX & ANR.

    (2016) TaxCorp(LJ) 10157 (SC)

19. Supreme Court · 27 Apr 2016
    S. 15, 17, 192: Concept of "salary" explained. Held that as "tips" are paid to employees of the assessee from an outsider on a voluntary basis and the employees have no vested right to receive the same, the same is not "salary" and the assessee has no obligation to deduct TDS

    ITC Limited vs. CIT

    (2016) TaxCorp(LJ) 10149 (SC) · Sections 15, 17, 192

20. Supreme Court · 26 Apr 2016
    SC - TDS u/s 192 on salaries is not applicable on payment of tips by assessee hotel to its staff/waiters.

    ITC LIMITED GURGAON Vs COMMISSIONER OF I.T. (TDS) DELHI

    (2016) TaxCorp(LJ) 10147 (SC)

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