High Court Rulings

Intra-group share transfer triggers Sec 79; Ultimate Holding company not 'beneficial' owner 

HC upholds ITAT order, denies set off and carry forward of business losses u/s 79 owing to 100% change in shareholding of assessee-company during AY 2009-2010; Dismisses assessee’s contention th...View More

Larger-bench to rule on Sec 244A interest entitlement on self-assessment tax refund

Delhi HC division bench refers the matter to larger bench to rule on “Whether the assessee was entitled to interest u/s 244A on the amount of self-assessment tax ('SA-tax') paid and if yes, whet...View More

Allows writ against property registration denial, Sec.194IA-TDS inapplicable for consideration payment pre-June'13 

HC allows assessee’s writ against property registration denial for non-deduction of TDS u/s 194IA (inserted w.e.f June 1, 2013 relating to TDS on transfer of immovable property); Holds assessee-...View More

Pre-commencement interest inextricably linked with business set-up, capital receipt; Fund-raising mode ‘irrelevant’

HC confirms ITAT order, holds interest on FDRs earned during pre-commencement period, a capital receipt being inextricably linked with setting up of power project; During AY 2009-10, assessee raised s...View More

Upholds fee u/s 234E pre-2015 amendment; Levy not ultra-vires absent appeal / condonation provisions 

Rajasthan HC dismisses assessee’s writ, upholds constitutional validity of Sec 234E (which levies fee for delay in filing TDS returns) even for period prior to Finance Act, 2015 amendments (amen...View More

Rejects assessee's slump-sale net worth computation sans depreciation deduction , reverses ITAT order

HC rules in favour of Revenue and reverses ITAT order, holds that ‘net-worth’ of business transferred on slump-sale basis should be computed after providing for depreciation, despite not c...View More

TDS inapplicable on interest to members by co-operative banks pre -2015 amendment 

HC reverses ITAT order, assessee (a co-operative society engaged in banking business) not liable to deduct TDS u/s 194A on interest paid to members for AYs 2008-09 to 2014-15; Acknowledges that t...View More

Directing special audit u/s 142(2A) beyond Settlement Commission's scope, allows assessee's writ 

HC allows assessee’s writ, sets-aside Settlement Commission (‘ITSC’) order directing conduct of special audit u/s 142(2A) during the course of settlement proceedings; Assessee made s...View More

Excluding IPC/FERA offenders from 1998 disputes-settlement scheme not 'arbitrary; Upholds constitutional validity

HC dismisses assessee’s writ challenging constitutional validity of section 95(iii) of the Kar Vivad Samadhan Scheme, 1998 (‘the KVSS’ which was aimed at bringing down the pendi...View More

Disputed ‘statutory levy’ deductible on accrual basis, though subsequently held unconstitutional

HC reverses ITAT order, allows deduction to assessee (a public company) on accrual basis for ‘cess’ and ‘cess surcharge’ levied under Madras Panchayats Act, 1958, despite levy ...View More