MIXED BUZZ

French taxmen raid Google's Paris office in alleged USD 2.5 bn tax evasion case

CASE LAWS

2016-TII-30-HC-DEL-TP

PR CIT Vs CASHEDGE INDIA PVT LTD: DELHI HIGH COURT (Dated: May 4, 2016)

Income tax - foreign exchange fluctuation - selection of comparable - segmental data & safe harbour rules

Whether an entity engaged in software development, software products & marketing can compared to a software developer, in absence of published segmental data as far as software development segment is concerned - NO: HC

Whether 'Safe Harbour Rules' can be applied to a case of forex fluctuation, in case such rules came into force subsequent to the A.Y in which such forex fluctuation was was occured - NO: HC

Revenue's appeal dismissed

2016-TII-29-HC-DEL-TP

ST MICROELECTRONICS PVT LTD Vs DCIT: DELHI HIGH COURT (Dated: May 18, 2016)

Income tax - Sections 143(2), 144C, 221 & 271(1)(c).

Keywords - change of address - completition of assessment - dispatch of order - final assessment order & penalty.

Whether the failure of the Department to demonstrate that the AO who passed the assessment order ceased to have any control over the same and that it left his hand soon after it was passed, can lead to a presumption that the final assessment order was not passed within the time period specified u/s 144(C)(4) r/w/s 144(C)(3) - YES: HC

Whether the final assessment order should be passed within one month from the end of the month in which the period for filing of objections u/s 144(C) would expire - YES: HC

Whether any order of penalty u/s 271(1)(c) and notice u/s 221 mentioned in the final assessment order, deserves to be quashed, in case the said assessment order neither records the impugned demand upon which such penalty was levied, nor was dispatched & delivered to the correct address of the assessee available with the Department - YES: HC

Assessee's petition allowed