All landmark rulings

1. Direct Tax ·Bombay High Court · 03 Feb 2016
   HC - Re-assessment order passed without disposing assessee’s objections to reasons for reopening quashed in writ.

   Bayer Material Science Pvt Ltd vs. DCIT

   (2016) TaxCorp(LJ) 9811 (HC-BOMBAY)

2. Direct Tax ·Supreme Court · 03 Feb 2016
   SC - SLP Dismissed - HC had held that payment of consultancy fees to Singaporean company for forex derivative transaction was FTS.

   CIT vs. Andaman Sea Food Pvt. Ltd.

   (2016) TaxCorp(LJ) 9810 (SC)

3. Direct Tax ·ITAT Bangalore · 02 Feb 2016
   ITAT - Stay extended beyond 365 days till disposal of appeal or further period of 180 days.

   SAP Labs India Pvt Ltd vs ACIT

   (2016) TaxCorp(LJ) 9809 (ITAT-BANGALORE)

4. Direct Tax ·ITAT Delhi · 01 Feb 2016
   ITAT - Set-off of losses allowed by assessee’s STPI unit against income from non-STPI unit in view of CBDT circular no. 7 dated July 16, 2013.

   NEC HCL System Technologies Ltd vs. ACIT

   (2016) TaxCorp(LJ) 9808 (ITAT-DELHI)

5. Direct Tax ·Delhi High Court · 02 Feb 2016
   HC - In absent of PE in India, contract revenue received by a UAE based company from ONGC is not taxable in India

   NPCC vs DIT

   (2016) TaxCorp(LJ) 9807 (HC-DELHI)

6. Direct Tax ·Supreme Court · 29 Jan 2016
   SC - HC to admit Revenue’s appeal on identical issue admitted earlier.

   CIT vs. Bangalore Housing Dev. & Investments

   (2016) TaxCorp(LJ) 9806 (SC)

7. Direct Tax ·ITAT Mumbai · 29 Jan 2016
   Subsidy granted to set up a wind project is a capital receipt. the subsidy cannot be reduced under Explanation 10 to s. 43(1) from the cost of the assets acquired though 100% depreciation is allowed on the cost of the assets. The subsidy is also not assessable either u/s 41(1) or u/s 50

   UniDeritend Limited vs. ACIT

   (2016) TaxCorp(LJ) 9805 (ITAT-MUMBAI) · Sections 41(1), 50

8. Direct Tax ·Karnataka High Court · 29 Jan 2016
   HC - 50% additional depreciation allowable in second year.

   CIT vs. Rittal India Pvt. Ltd.

   (2016) TaxCorp(LJ) 9804 (HC-KARNATAKA) · Section 32(1)(iia)

9. Direct Tax ·ITAT Bangalore · 29 Jan 2016
   ITAT - Sec 54F exemption available to assessee for investing long term capital gains arising on sale of various sites in a single property.

   Shri. S. Gangadhar vs. CIT

   (2016) TaxCorp(LJ) 9803 (ITAT-BANGALORE) · Section 54F

10. Direct Tax ·AAR · 26 Jan 2016
    An installation project which does not last more than 183 days in a fiscal year is not a "Permanent Establishment" and the business profits are taxable only in Singapore under Article 7(1) of the India-Singapore DTAA

    In Re Tiong Woon Project & Contracting (Pte) Limited

    (2016) TaxCorp(LJ) 9802 (AAR)

11. Direct Tax ·Supreme Court · 25 Jan 2016
    S. 271C: Penalty for failure to deduct TDS cannot be levied if Dept is unable to show contumacious conduct on the part of the assessee

    CIT vs. Bank Of Nova Scotia

    (2016) TaxCorp(LJ) 9801 (SC) · Section 271C

12. Direct Tax ·ITAT Kolkata · 27 Jan 2016
    ITAT - Investment in preference shares by assessee be considered for determining average value of investments under Rule 8D(2)(iii).

    West Bengal Infrastructure Development Finance Corporation vs. ACIT

    (2016) TaxCorp(LJ) 9800 (ITAT-KOLKATA)

13. Direct Tax ·ITAT Chennai · 27 Jan 2016
    ITAT - Settling new house property in favour daughter without any consideration vide settlement deed within 3 years does not violate Sec 54 conditions.

    ITO vs. Abdul Hameed Khan Mohammed

    (2016) TaxCorp(LJ) 9799 (ITAT-CHENNAI) · Section 54

14. Direct Tax ·ITAT Visakhapatnam · 28 Jan 2016
    ITAT - For salary (u/s 192), flat rate of TDS u/s 206AA is not automatic wherever PAN is not furnished.

    Rashtriya Ispat Nigam Ltd. vs. ACIT

    (2016) TaxCorp(LJ) 9798 (ITAT-VISAKHAPATNAM) · Sections 206AA, 192

15. Direct Tax ·Delhi High Court · 25 Jan 2016
    HC - No TDS u/s 195/194J on software purchase payments by assessee [a Value Added Reseller of software in India] under VAR agreements.

    THE PRINCIPAL COMMISSIONER OF INCOME TAX-6 Vs M. TECH INDIA P. LTD.

    (2016) TaxCorp(LJ) 9797 (HC-DELHI)

16. Direct Tax ·ITAT Panaji · 22 Jan 2016
    ITAT - Provisions of sec. 80IB(10) does not talk of any pro-rata deductions.

    DCIT vs Models Construction Pvt. Ltd

    (2016) TaxCorp(LJ) 9796 (ITAT-PANAJI) · Section 80IB(10)

17. Direct Tax ·AAR · 22 Jan 2016
    AAR - Fees received by a UK company for rendering 'supply management' services to its Indian group company is, neither FTS nor royalty under India-UK DTAA.

    Cummins Limited., In re

    (2016) TaxCorp(LJ) 9795 (AAR)

18. Direct Tax ·AAR · 21 Jan 2016
    AAR - Proposed transfer of Indian group company’s shares by a Mauritian company to its Singaporean affiliate is not taxable in India being driven by "operational-excellence". No Tax avoidance.

    Dow AgroSciences Agricultural Products Ltd., In re

    (2016) TaxCorp(LJ) 9794 (AAR)

19. Direct Tax ·AAR · 20 Jan 2016
    AAR - Satyam’s class action suit settlement payments to US Settlement Fund is capital in nature and not taxable in India.

    Qualified Settlement Fund USA, In re

    (2016) TaxCorp(LJ) 9793 (AAR)

20. Direct Tax ·AAR · 20 Jan 2016
    AAR - Receipt of settlement payments in capacity of trustees for investors' claims is a capital receipt, not taxable in India. Surrogatum principle does not apply to amounts received pursuant to a fraud.

    Aberdeen Claims Administration Inc.,

    (2016) TaxCorp(LJ) 9792 (AAR)

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