Direct Tax landmark rulings

1. Bombay High Court · 28 Mar 2016
   HC - Rejected revenue’s erroneous interpretation that even prima facie merits cannot be considered by him while exercising his powers of stay u/s 220(6).

   Maharashtra Industrial Development Corporation vs. CIT

   (2016) TaxCorp(LJ) 10042 (HC-BOMBAY)

2. Bombay High Court · 28 Mar 2016
   Strictures passed against high-handed and unfair approach of AO (IRS Officer) in refusing to give an acknowledgement of stay application. Chief CIT directed to ensure such behaviour is not repeated. Dept directed to nominate another AO to hear stay application

   Piramal Fund Management Pvt. Ltd vs. DCIT

   (2016) TaxCorp(LJ) 10041 (HC-BOMBAY)

3. Bombay High Court · 28 Mar 2016
   S. 220(6): Dept directed to redeposit moneys collected illegally by attachment of assessee’s bank account during pendency of stay application. A order passed on a stay application must give reasons for the refusal to stay the demand

   Khandelwal Laboratories Pvt. Ltd vs. DCIT

   (2016) TaxCorp(LJ) 10040 (HC-BOMBAY) · Section 220(6)

4. ITAT Bangalore · 28 Mar 2016
   Deduction of section-10B, transferring pricing adjustment on account of ECB from parent company

   Intergarden India Pvt Ltd vs. ACIT

   (2016) TaxCorp(LJ) 10039 (ITAT-BANGALORE) · Section 10B

5. ITAT Jaipur · 28 Mar 2016
   S. 68: Law on when share application moneys and share premium from private companies can be treated as bogus and assessed as cash credits explained

   ACIT vs. Dhanlaxmi Equipment Pvt. Ltd

   (2016) TaxCorp(LJ) 10038 (ITAT-JAIPUR) · Section 68

6. Calcutta High Court · 25 Mar 2016
   S. 115JB: As the loss suffered on transfer of business was rightly debited to the P&L A/c as per AS 13, it cannot be added back to the Book Profits

   CIT vs. Binani Cement Ltd

   (2016) TaxCorp(LJ) 10037 (HC-CALCUTTA) · Section 115JB

7. Bombay High Court · 25 Mar 2016
   S. 195/ 40(a)(ia): Controversy whether in view of retrospective amendment to s. 195 to provide that s. 195 applies whether or not the non-resident person has a residence or place of business or business connection in India, even commission to non-resident agents for services rendered outside India is liable for TDS u/s 195 and has to suffer disallowance u/s 40(a)(ia) to be reconsidered by ITAT

   Sesa Resources Ltd vs. DCIT

   (2016) TaxCorp(LJ) 10036 (HC-BOMBAY) · Sections 195, 40(a)(ia)

8. ITAT Mumbai · 24 Mar 2016
   ITAT - Assesse justified in not offering the amount to tax on the ground that income did not accrue as Enron had gone bankrupt.

   Bechtel International Inc vs. DDIT

   (2016) TaxCorp(LJ) 10035 (ITAT-MUMBAI)

9. ITAT Jaipur · 24 Mar 2016
   ITAT - Cessation of temporary work doesn’t amount to retrenchment. Exemption u/s 10(10B) not available.

   Ambika Jyoti Datta vs. ITO

   (2016) TaxCorp(LJ) 10034 (ITAT-JAIPUR) · Section. 10(10B)

10. ITAT Mumbai · 24 Mar 2016
    ITAT - 100% stay granted as outstanding-demand adjustment against refund /TDS

    Huertey Petrochem SA vs. DCIT

    (2016) TaxCorp(LJ) 10033 (ITAT-MUMBAI)

11. ITAT Bangalore · 23 Mar 2016
    ITAT - FMV of land relevant for capital gains and not construction cost on transfer of land pursuant to a JDA.

    ACIT. Vs. Shankar Vittal Motor Co. Ltd.

    (2016) TaxCorp(LJ) 10032 (ITAT-BANGALORE)

12. ITAT Mumbai · 23 Mar 2016
    ITAT - Amount received by Gavaskar from ESPN Star Sports for providing services as a presenter and commentator is available for deduction u/s .80RR.

    Sunil Gavaskar vs. ITO

    (2016) TaxCorp(LJ) 10031 (ITAT-MUMBAI) · Section. 80RR

13. Delhi High Court · 24 Mar 2016
    HC - Sec. 194I applicable to hotel room tariffs.

    Apeejay Surrendera Park Hotels Ltd. and ANR, Federation of Hotel and Restaurant Associations of India and ORS Vs Union of India

    (2016) TaxCorp(LJ) 10030 (HC-DELHI) · Section. 194I

14. Delhi High Court · 23 Mar 2016
    No exemption to Indian National Congress for violating the conditions set out in Sec. 13A.

    CIT. vs. Indian National Congress

    (2016) TaxCorp(LJ) 10029 (HC-DELHI) · Section. 13A

15. ITAT Bangalore · 22 Mar 2016
    ITAT - Wealth tax to be levied on an urban land even though the land was part of the JDA.

    Triad Resorts & Hotels P. Ltd. V. WTO

    (2016) TaxCorp(LJ) 10028 (ITAT-BANGALORE)

16. AP High Court · 22 Mar 2016
    HC - Even though contractor had sub-contracted majority work, still TDS credit will be available to contractor.

    IVRCL- KBL(JV) Vs. ACIT

    (2016) TaxCorp(LJ) 10027 (HC-AP)

17. Bombay High Court · 22 Mar 2016
    HC - No TDS u/s 195 on fees paid by a non-resident bank to non-resident sub-arrangers as the same not taxable as FTS.

    Credit Lyonnais Vs. DIT

    (2016) TaxCorp(LJ) 10026 (HC-BOMBAY)

18. ITAT Mumbai · 21 Mar 2016
    ITAT - Even though India operations of a UK company were discontinued, yet set-off of business loss relatable to its India operations allowed against other income.

    ADIT. Vs. Lloyds Register U.K.

    (2016) TaxCorp(LJ) 10025 (ITAT-MUMBAI) · Section. 71

19. ITAT Ahmedabad · 21 Mar 2016
    ITAT (SB) - Transfer of carbon credits is a taxable receipt. Dissent from Hyderabad bench ruling in My Home Power case.

    Kalpataru Power Transmission Ltd. vs. DCIT

    (2016) TaxCorp(LJ) 10024 (ITAT-AHMEDABAD)

20. ITAT Mumbai · 18 Mar 2016
    ITAT - Amount received by a US company upon entering into contract with Indian company for setting up of power plant in India, not FIS under India-USA DTAA.

    Raytheon Ebasco Overseas Ltd. vs. DCIT

    (2016) TaxCorp(LJ) 10023 (ITAT-MUMBAI)

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