Supreme Court
Payment Received For Providing Access To Computer Software To Member Firms Not Taxable As ‘royalty’ : Supreme Court Dismisses Income Tax Dept. SLP
Case Title: Commissioner Of Income Tax (International Taxation)-2 Versus Gracemac Corporation
The Supreme Court has dismissed the Special Leave Petition (SLP) filed by the Commissioner Of Income Tax (International Taxation) challenging the non-taxability of payment received for providing access to computer software to member firms.
Income Tax Chargeable On Trusteeship Relinquishment Compensation; Supreme Court Affirms
Case Title: Jose Thomas Vs. PCIT
Case No.: Special Leave Petition (Civil) Diary No. 36001/2024
The Supreme Court while upholding the Kerala High Court ruling held that the income tax is chargeable on the compensation received for trusteeship relinquishment.
Delhi High Court
TOLA Doesn’t Alter Structure For Income Tax Reassessment Approval; Delhi High Court Quashes Notices For 4 Years Old AY
Case Title: Abhinav Jindal HUF Versus ITO
Case No.: W.P.(C) 2698/2022
The Delhi High Court has held that the Taxation and Other Laws (Relaxation & Amendment of Certain Provisions) Act, 2020 (TOLA) does not alter or amend the structure for Income Tax Reassessment approval and sanction which stands erected by virtue of Section 151 of the Income Tax Act.
Employee Or His Legal Heirs Can’t Be Held Liable For TDS Non-Deposit: Delhi High Court
Case title: Sh. Meenu Gupta (Legal Heir Of Late Sh. Vipin Gupta) V/S Assistant Commissioner Of Income Tax, Circle 67(1), Delhi & Ors.
Citation: W.P.(C) 10162/2024 & CM APPL. 41748/2024 (Stay)
The Delhi High Court has held that the employee or his legal heirs cannot be held liable for the non-deposit of TDS.
PE Is An Independent Taxable Entity, Affirms Delhi High Court
Case Title: Hyatt International Southwest Asia Ltd. Versus Additional Director Of Income Tax
Case No.: ITA 216/2020
The Delhi High Court has held that a Permanent Establishment (PE) is conceived to be an independent taxable entity and cannot possibly be doubted or questioned.
Bombay High Court
Bombay High Court Allows Income Tax Deduction To IDBI Bank On Bad And Doubtful Debts
Case Title: IDBI Vs. DCIT
Case No.: Income Tax Appeal No. 511 Of 2004
The Bombay High Court has allowed income tax deduction to Industrial Development Bank of India (IDBI Bank) on bad and doubtful debts.
Madras High Court
Madras High Court Condones Delay In Filing Appeal Subject To Depositing Of Rs. 1000 In Advocate Clerks Welfare Association
Case Title: M/s.Arulmigu Aruthra Kapaleeswarar Temple v/s The Commissioner of Income Tax (Appeals)
Citation: W.P.No.26716 of 2024
The Madras High Court has condoned the delay in filing appeal subject to depositing of Rs. 1000 in Advocate Clerks Welfare Association.
Allahabad High Court
Financier Of Vehicle Entering Lease Agreement Is Liable To Pay Motor Vehicle Tax: Allahabad High Court
Case Title: Dileep Kumar Upadhyay Versus State
Case No.: Writ Tax No. 1323 Of 2024
The Allahabad High Court has held that the financier of motor vehicle entering lease agreement is liable to pay motor vehicle tax.
Kerala High Court
Relief To Castrol India: Manufacturer Knows Best Value Of Products & Dept. To Accord Due Deference: Kerala High Court
Case Title: Castrol India Ltd. Versus State Of Kerala
Case No.: OT.Rev No. 53 Of 2023
In a major relief to Castrol India, the Kerala High Court has held that department to assign valid reasons for rejecting books of account.
Kerala High Court Upholds Income Tax Disallowance On Revenue Expenditure Incurred By Broker On IPO
Case Title: M/S.Inditrade Capital Limited Versus Commissioner Of Income Tax
Case No.: ITA NO. 246 OF 2019
The Kerala High Court has upheld the income tax disallowance on revenue expenditure incurred by brokers on Initial Public Offer (IPO).
Income Tax Addition Can’t Be Made On Mere Admission Of Assessee Without Any Corroborative Evidence: Rajasthan High Court
Case Title: PCIT Vs. M/s Esspal International Pvt. Ltd.
Case No.: D.B. Income Tax Appeal No. 25/2024
The Rajasthan High Court has held that income tax addition cannot be made on mere admission of assessee without any corroborative evidence.
Income Tax Dept. Empowered To Seek Interim Custody Of Currency Notes Seized: Kerala High Court
Case Title: Kasinath Rangonda Kanade V/S State Of Kerala
Citation: Crl.Mc No. 1742 Of 2024
The Kerala High Court has held that the income tax department is empowered to seek interim custody of currency notes seized.
ITAT
Distribution Revenue Received From Us Broadcasting Company Towards Granting Of Distribution Rights Can’t Be Taxed As ‘royalty’: ITAT
Case title: Turner Broadcasting System Asia Pacific, Inc. United States of America v/s Deputy Commissioner of Income-tax
Citation: I.T.A. No. 2432/DEL/2023 (A.Y 2020-21)
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the distribution revenue received from the US Broadcasting Company towards granting of distribution rights cannot be taxed as ‘royalty’.
IIBI Bank To Pay Minimum Tax On Book Profits Even When Undergoing Voluntary Liquidation: ITAT
Case title: Industrial Investment Bank of India Limited v/s PCIT, Kolkata
Citation: I.T.A. No.: 406/KOL/2023
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has held that the Industrial Investment Bank of India Limited (IIBI) is liable to pay minimum tax on book profits even when undergoing voluntary liquidation.
