Supreme Court — Direct Tax

1. Supreme Court · 25 Aug 2015
   SC - CBDT Instruction No. 3/2011 specifying minimum monetary tax effect of Rs 10 lacs for Revenue appeals before HC is not retrospective in nature. Instruction applicable only to such cases which are filed after the issuance of the instruction.

   CIT. vs. Suman Dhamija

   (2015) TaxCorp(LJ) 8551 (SC)

2. Supreme Court · 25 Aug 2015
   SC - Income of trust was not taxable in the hands of assessee even though the same was created for the benefit of assessee’s minor children because clubbing provisions are not applicable where minor child is entitled to income on attaining majority.

   Kapoor Chand vs. ACIT

   (2015) TaxCorp(LJ) 8548 (SC)

3. Supreme Court · 24 Aug 2015
   SC - Allows additional depreciation claim even where Form 3AA (i.e Accountant’s report for claiming additional depreciation) was not filed along-with the return of income but during assessment proceedings.

   CIT. vs. G.M. Knitting Industries(P) Ltd.

   (2015) TaxCorp(LJ) 8543 (SC)

4. Supreme Court · 21 Aug 2015
   SC - HC, being Court of Record under Article 215, have the inherent power of review.

   CIT. vs. Meghalaya Steels Ltd.

   (2015) TaxCorp(LJ) 8510 (SC)

5. Supreme Court · 20 Aug 2015
   SC - SLP Dismissed - Gujarat High Court had rejected AO’s invocation of Explanation 3 to Sec 43(1). Factum of respondent-assessee not having paid consideration for acquiring individual assets cannot be construed as illusory or colorable.

   CIT. vs. Sandvik Chokshi Ltd.

   (2015) TaxCorp(LJ) 8508 (SC)

6. Supreme Court · 20 Aug 2015
   SC - SLP Dismissed - Gujarat HC had granted Sec 32AB deduction to assessee for utilizing amount withdrawn from investment deposit account towards term loans’ repayment.

   CIT. vs. Nirma Credit & Capital Ltd.

   (2015) TaxCorp(LJ) 8499 (SC) · Section 32AB

7. Supreme Court · 17 Aug 2015
   SC - Section 234B interest is automatic if conditions are met. Form I.T.N.S. 150 is a part of the assessment order and it is sufficient if the levy of interest is stated there.

   CIT vs. Bhagat Construction Co. Pvt. Ltd

   (2015) TaxCorp(LJ) 8494 (SC) · Section 234B

8. Supreme Court · 18 Aug 2015
   SC - High Courts, being Courts of Record under Article 215, have the inherent power of review. There is nothing in s. 260A(7) to restrict the applicability of the provisions of the CPC to s. 260A appeals.

   CIT vs. Meghalaya Steels Ltd

   (2015) TaxCorp(LJ) 8493 (SC) · Section 260A

9. Supreme Court · 18 Aug 2015
   SC - Interest u/s 234B was part of Form I.T.N.S. 150, which contained calculation of interest payable on assessed tax, therefore Sec 234B interest is to be levied for shortfall in advance tax payment despite no direction in the assessment order for payment of interest.

   CIT. vs. Bhagat Construction Co.

   (2015) TaxCorp(LJ) 8486 (SC) · Section. 234B

10. Supreme Court · 17 Aug 2015
    Interest u/s 234B is automatic even if assessment order does not contain any direction for payment- SC

    Bhagat Construction Co Private Limited vs. Commissioner of Income-tax, Delhi

    (2015) TaxCorp(LJ) 8480 (SC) · Section. 234B

11. Supreme Court · 14 Aug 2015
    SC - CBDT’s SLP against Gujarat HC ruling dismissed which allowed writ praying return filing due-date extension.

    CBDT. Vs. All Gujarat Federation of Tax Consultants

    (2015) TaxCorp(LJ) 8467 (SC)

12. Supreme Court · 13 Aug 2015
    Interim stay of the operation and implementation of the judgement of the Bombay High Court upholding the constitutional validity of service-tax on lawyers granted

    Bombay Bar Association vs. UOI

    (2015) TaxCorp(LJ) 8464 (SC)

13. Supreme Court · 13 Aug 2015
    HC - Advances paid towards acquisition of assets amounts to utilization of capital gains for the purpose of exemption u/s 54G.

    Fibre Boards (P) Ltd. vs. CIT

    (2015) TaxCorp(LJ) 8449 (SC)

14. Supreme Court · 05 Aug 2015
    SC - AY 1998-99 - TDS u/s 194C @ 2% and not u/s 194I @ 20% applicable while making payment for landing and parking charges to Airport Authority of India.

    Japan Airlines Co Ltd vs CIT

    (2015) TaxCorp(LJ) 8401 (SC) · Section 194I

15. Supreme Court · 06 Aug 2015
    S. 194-I: In deciding whether a payment is for "use of land", the substance of the transaction has to be seen. If the payment is for a variety of services and the use of land is minor, the payment cannot be treated as "rent"

    Japan Airlines Co. Ltd vs. CIT

    (2015) TaxCorp(LJ) 8385 (SC) · Section 194-I

16. Supreme Court · 05 May 2015
    Supervising & Liasioning in relation to loading goods cannot be classified as C & F Agents services

    M/s. Coal Handlers Private Ltd. vs. CCE

    (2015) TaxCorp(LJ) 7208 (SC)

17. Supreme Court · 04 Jul 2015
    SC - S. 24-AA Surtax Act - Principles of interpretation of a law conferring an exemption or concession explained

    Oil & Natural Gas Corporation Limited vs. CIT

    (2015) TaxCorp(LJ) 7098 (SC) · Section 24-AA

18. Supreme Court · 07 Jul 2015
    SC - Law on impleading Court / Tribunal as 'party' while deciding writs.

    Sh. Jogendrasinhji Vijaysinghji vs. State of Gujarat & Others

    (2015) TaxCorp(LJ) 7096 (SC)

19. Supreme Court · 01 Jul 2015
    SC - Payments made by ONGC and received by the non-resident assessees or foreign companies under the said contracts is more appropriately assessable under the provisions of Section 44BB and not Section 44D of the Act.

    Oil and Natural Gas Corporation Vs. CIT

    (2015) TaxCorp(LJ) 7081 (SC) · Sections. 44BB, 44D

20. Supreme Court · 02 Jul 2015
    SC - ONGC's payments for supervisory services taxable u/s 44BB, not u/s 44D.

    Oil & Natural Gas Corporation Limited vs. CIT

    (2015) TaxCorp(LJ) 7042 (SC) · Sections. 44BB, 44D

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