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HC - Sec 194C TDS and not commission or brokerage u/s Sec 194H is applicable in respect of payment made for administration and management of drug store by assessee, the same being a contractual payment.
CIT. vs. Jaslok Hospital and Research Centre
(2015) TaxCorp(LJ) 6398 (HC-BOMBAY) · Section. 194C
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HC - Application for stay of order in appeal before CIT(A) is inherent in it as an appellate authority while Assessing Officer and Commissioner do not stay order in appeal but only stay demand issued consequent to order which is in appeal
GERA Realty Estates v. Commissioner of Income-tax (Appeals)
(2015) TaxCorp(LJ) 6397 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=58556&Category=Judgment&CategoryType=Zip
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HC - Courts and Tribunals to refrain from adversely commenting and remarking on conduct of parties or their representatives or pleaders, if the same were not required for the decision of a case. Judicial 'sobriety'/'restraint' should be maintained.
Madhukar B. Thakoor and Ors vs. ITAT
(2015) TaxCorp(LJ) 6361 (HC-BOMBAY)
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HC - No Sec 40(a)(ib) disallowance on STT collected by assessee- broker on behalf of its clients for onward forwarding to Revenue.
CIT. vs. HSBC Securities & Capital Markets (India) P Ltd.
(2015) TaxCorp(LJ) 6359 (HC-BOMBAY) · Section. 40(a)(ib)
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HC - ITAT Members should maintain patience. Sobriety and restraint in judicial conduct is of paramount importance. They should refrain from passing any adverse remarks or making harsh comments on the conduct of the parties
Madhukar B. Thakoor vs. ITAT
(2015) TaxCorp(LJ) 6346 (HC-BOMBAY)
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HC - CIT(A) is entitled to himself make inquiry and refer the matter to DVO on failure of AO to do so
Rallis India Ltd. v. Commissioner of Income-tax (Appeals)- XXI, Mumbai
(2015) TaxCorp(LJ) 6319 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=60523&Category=Judgment&CategoryType=Zip
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HC - Rent received from income from unsold portion of the property constructed by assessee (a real estate developer), is chargeable under the head income from house property and not under business.
CIT. vs. Sane & Doshi Enterprises
(2015) TaxCorp(LJ) 6305 (HC-BOMBAY)
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HC - Pendency of an appeal filed in the High Court u/s 260A is no bar to the maintainability of a MA filed u/s 254(2)
R. W. Promotions P. Ltd. vs. ITAT
(2015) TaxCorp(LJ) 6296 (HC-BOMBAY) · Sections. 254(2), 260A
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HC - Assessee eligible for Sec 80I benefit as none of the conditions stipulated therein prohibits assessee from taking industrial undertaking on hire and using it for manufacturing activity
Vijay Udhyog vs. CIT
(2015) TaxCorp(LJ) 6285 (HC-BOMBAY) · Section. 80I
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HC - FBT not payable by assessee for subscription payment to Tata Sons pursuant to contractual agreement of ‘‘Brand Equity and Business Promotion Agreement” to associate itself with the TATA name absent employer-employee relationship between the parties
CIT. vs. Tata Consultancy Services Ltd.
(2015) TaxCorp(LJ) 6282 (HC-BOMBAY)
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HC - No Section 43B disallowance for unpaid service tax. Section 43B does not contemplate liability to pay the service tax before actual receipt of the funds in the account of the assessee.
CIT. vs. Ovira Logistics Pvt. Ltd.
(2015) TaxCorp(LJ) 6273 (HC-BOMBAY)
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HC - Merely because assessee challenged ITAT’s order does not mean that ITAT is prevented in law from dealing with application u/s 254(2). Section 254(2) confers power upon ITAT to rectify any mistake apparent from the record within 4 years from the date of order.
R W Promotions P ltd vs ITAT
(2015) TaxCorp(LJ) 6251 (HC-BOMBAY) · Section. 254
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HC - Section 80P(2)(a)(i) deduction available to assessee co-operative society engaged in providing credit facilities to its members as assessee not a co-operative bank as per Banking Regulation Act.
The Quepem Urban Co-operative Credit Society Ltd vs ACIT
(2015) TaxCorp(LJ) 6249 (HC-BOMBAY) · Section. 80P
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HC- Where assessee sold goods to stockiest below MRP by treating the differential amount as managerial fees, question of invoking section 194J against assessee did not arise
Commissioner of Income-tax (TDS) v. Piramal Healthcare Ltd.
(2015) TaxCorp(LJ) 6206 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=59201&Category=Judgment&CategoryType=Zip
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HC - No reassessment on the basis of mere change of opinion by AO
Godrej Agrovet Ltd. v. Deputy Commissioner of Income-tax, 10(2)
(2015) TaxCorp(LJ) 6205 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=59304&Category=Judgment&CategoryType=Zip
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HC - Amount remitted by Indian branch to overseas group entities is not taxable as income unless RBI approval as required under FERA is obtained.
DIT. vs. Booz Allen and Hamilton (India) Ltd & Co
(2015) TaxCorp(LJ) 6191 (HC-BOMBAY)
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HC - Order of Tribunal granting set-off of business loss of AY 2002-03 against the profits of erstwhile 10A unit for AY 2005-06 is confirmed as losses/depreciation set-off arising from AY 2001-02 and subsequent years is allowed.
CIT vs. Shantivijay Jewels Ltd
(2015) TaxCorp(LJ) 6163 (HC-BOMBAY) · Section. 10A
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HC - Non-compete relatable to consideration for sale of division is taxable as business income u/s 28(va)
Arun Toshniwal and Anr vs. DCIT
(2015) TaxCorp(LJ) 6161 (HC-BOMBAY) · Section. 28(va)
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HC - Where assessee's claim for depreciation on intangible asset was based on incorrect valuation, notice under section 148 was valid.
Powerdeal Energy Systems (I) (P.) Ltd. v. Assistant Commissioner of Income-tax, Circle 2, Nashik
(2015) TaxCorp(LJ) 6160 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=58502&Category=Judgment&CategoryType=Zip
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HC - Where tenancy of rental premises belonged to individual partners and not to assessee-firm, Firm could not be assessed for transfer of tenancy rights.
Commissioner of Income Tax-17 v. Bombay Electric Laundry
(2015) TaxCorp(LJ) 6157 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=59246&Category=Judgment&CategoryType=Zip
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