SUPREME COURT RULING (INCOME TAX)

Transcription

1 SUPREME COURT RULING (INCOME TAX) 2017-TIOL-275-SC-IT CIT Vs Hindustan Petroleum Corporation Ltd (Dated: August ) Whether when the activity of bottling of gas cylinders involves a complex technical process, it necessarily falls within the four walls of Production as per Ss 80I & 80IA - YES: SC 2017-TIOL-272-SC-IT Pr.CIT Vs Goodview Trading Pvt Ltd (Dated: July 24, 2017) Having heard the parties, the Supreme Court condoned the delay and issued notice to respective parties directing their appearences for further hearing on the issue of additions u/s TIOL-271-SC-IT Northern Coal Fields Ltd Vs ACIT (Dated: July 24, 2017) Having heard the parties, the Supreme Court declines to interfere with the order of the High Court. However, the Apex Court also observed that after the adjustment of the tax in the next year, the balance amount, if any, should be refunded to the Assessee by the Income Tax Department TIOL-269-SC-IT PR CIT Vs Mahesh Kumar Gupta (Dated: July 21, 2017) the Department to defend their case on the issue of 'Authority of CIT to add an amount on the basis of fresh appraisal of the existing materials' TIOL-268-SC-IT Unitech Hospitality Services Ltd Vs ACIT (Dated: July 21, 2017) Having heard the parties, the Supreme Court dismisses the SLP, thus concurring with the opinion of HC regarding treatement of conversion & development expenses TIOL-267-SC-IT CIT Vs Nagarbail Salt Owners Cooperative Society Ltd (Dated: July 21, 2017) Having heard the parties, the Supreme Court condoned the delay and allowed the application for exemption from filing certified copy of the impugned order. However the Apex Court dismisses the SLP concurring with the opinion of HC as regards taxability of amount transferred by Cooperative society to 'Distribution Pool Fund Account' TIOL-266-SC-IT Velvet Carpet & Co Ltd Vs CIT (Dated: April 5, 2017) Whether a non-resident who was agreed to be given a % of commission on goods shipped by Indian company to different territories on the orders procured by such nonresident, deserves to be treated as "agent" if the agreement between the two

2 approved by RBI says so - YES: SC Whether under such circumstances, the Indian company will be entitled to weighted deduction u/s 35B(1)(b)(iv) - YES: SC 2017-TIOL-260-SC-IT CIT Vs Ksb Pumps Ltd (Dated: July 21, 2017) Having heard the parties, the Supreme Court condoned the delay and issued notices to respective parties seeking their appearence for further hearing on the issue of allowability of deduction u/s 80IB TIOL-259-SC-IT CIT Vs Nirma Ltd (Dated: July 21, 2017) the Revenue Department to defend their case on the issue of sales tax liability in the hands of receipient TIOL-258-SC-IT PR CIT Vs Bussan Auto Finance India Pvt Ltd (Dated: July 21, 2017) Having heard the parties, the Supreme dismisses the SLP leaving the question of law open TIOL-257-SC-IT DGIT Vs India Trade Promotion Organization (Dated: July 14, 2017) the Revenue Department to defend their case on the issue of character of 'collection of fee by a charitable institution' TIOL-256-SC-IT CIT Vs Pix Transmission Ltd (Dated: July 13, 2017) Having heard the parties, the Supreme Court set aside the impugned order of the High Court and remand the case back to the High Court to decide the aforesaid question of law after hearing both the parties TIOL-255-SC-IT Engineers India Ltd Vs CIT (Dated: July 06, 2017) Whether it would be appropriate to refer the matter to the Larger bench, in case of difference of opinions between the Co-ordinate Benches of High Court - YES: SC 2017-TIOL-254-SC-IT CIT Vs Kwality Steel Suppliers Complex (Dated: March 21, 2017) Whether the CIT while exercising his revisional jurisdiction, cannot act as an appellate

3 authority for correcting every mistake of AO - YES: SC Whether where a partnership firm stood dissolved by the operation of law in view of death of one of the partners, but the business did not come to an end as the other partner continued with the business, there is no question of selling the assets of the firm and therefore it is not necessary to value stock-in-trade at market price - YES: SC Also see analysis of the order 2017-TIOL-253-SC-IT Paramount Communications Ltd Vs PR CIT (Dated: July 14, 2017) Having heard the parties, the Supreme Court dismisses the SLP, thus concurring with the opinion of High Court on the issue of reopening TIOL-252-SC-IT Income Tax Settlement Commission Vs Outotec Gmbh (Dated: July 14, 2017) Having heard the parties, the Supreme Court condones the delay and granted leave to Revenue Department to defend their case on the issue of interest payable to Settlement Commission TIOL-251-SC-IT CIT Vs Hindustan Petroleum Corporation Ltd (Dated: July 14, 2017) Having heard the parties, the Supreme Court condones the delay and grants leave to the Revenue Department to defend their case on the issue of deduction u/s 80IA on the activity of bottling of LPG Gas TIOL-246-SC-IT Advanta India Ltd Vs CIT (Dated: July 6, 2017) Having heard the parties, the Supreme Court grants leave to M/s Advanta India Ltd. to defend their case on the issue of treatment of expenditure incurred for acquiring a living organism and technical know-how under a licensing agreement TIOL-245-SC-IT PR CIT Vs Agilent Technologies (International) Pvt Ltd (Dated: July 4, 2017) Having heard the parties, the Supreme Court condones the delay and issued notices to respective parties for further hearing on the issue of continuation of interim protection TIOL-243-SC-IT Shyamal Sarkar Vs CIT (Dated: July 10, 2017) Having heard the parties, the Supreme Court dismissed the petition by observing no reason to interfere in the High Court order. The Apex Court thus confirms the HC's decision that the period of limitation would be extended by the time taken for special audit which is conducted in accordance with the approval of the CIT on the proposal of the AO TIOL-244-SC-IT CIT Vs Sanghvi And Doshi Enterprise (Dated: July 10, 2017)

4 Having heard the parties, the Supreme Court condones the delay and dismisses the SLP concurring with the views of HC regarding entitlement of a developer to claim deduction u/s 80IB(10) TIOL-242-SC-IT Takshashila Realties Pvt Ltd Vs DCIT (Dated: July 3, 2017) Having heard the parties, the Supreme Court condones the delay and dismisses the SLP concurring with the views of HC regarding validity of order passed u/s 142(2A) TIOL-238-SC-IT Pebble Investment And Finance Ltd Vs ITO (Dated: July 5, 2017) Having heard the parties, the Supreme Court issued notices to respective parties directing for their appearences and further hearing on the issue of suo motu extension of time limit for submission of audit report TIOL-237-SC-IT PR CIT Vs Phi Seeds Ltd (Dated: July 4, 2017) Having heard the parties, the Supreme Court dismisses the petition, after finding no infirmity in the decision of High Court TIOL-236-SC-IT Ashokbhai H Jariwala Vs ACIT (Dated: July 3, 2017) Having heard the parties, the Supreme Court dismisses the petition and concurred with the opinion of High Court that contradiction in assessee's statement can form basis of additions u/s 69A TIOL-235-SC-IT ACIT Vs Hatkesh Cooperative Housing Society Ltd (Dated: July 4, 2017) Revenue Department to defend their case on the issue of 'difference of opinion' TIOL-234-SC-IT CIT Vs Umlesh Goel (Dated: July 4, 2017) Having heard the parties, the Supreme Court condoned the delay and issued notices to respective parties for further hearing on the interpretation of Sections 158-BC & 132(1) TIOL-231-SC-IT Binoy Viswam Vs UoI (Dated: April 17, 2017) Whether the provisions of Section 139AA of the I-T Act and the provisions of Aadhaar Act operate in two distinct domains - YES: SC Whether provisions of Section 139AA are discriminatory and thus violates the spirit of

5 Article 14 of the Constitution - NO: SC Whether the provisions of Sec 139AA is violative of Article 19 of the Constitution - NO: SC Whether the provisions of Section 139AA are prospective in nature - YES: SC Also see analysis of the order