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Premium on redemption of debentures is taxable in the year of redemption and hence there was no exempt income whatsoever warranting invocation of the provisions of Section 14A.
Enzen Global Solutions Pvt. Ltd Vs ITO
(2022) TaxCorp(LJ) 30110 (ITAT-BANGALORE)
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Filing of Form No.67 is not mandatory but a directory requirement and Rule 128(9) does not provide for disallowance of FTC in case of delay in filing Form No. 67.
Vinodkumar Lakshmipathi Vs CIT(A) NFAC
(2022) TaxCorp(LJ) 30082 (ITAT-BANGALORE)
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Assessee is not liable to deduct tax at source under Section 195 since payment made to the foreign AE, Subex Tehcnologies Inc., USA, cannot be regarded as income deemed to accrue or arise in India as per the law applicable in the relevant AY 2008-09, thus deletes the disallowance under Section 40(a)(i).
Subex Technologies Limited Vs The Joint Commissioner of Income-tax
(2022) TaxCorp(LJ) 30080 (ITAT-BANGALORE) · Section 40(a)(i)
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If any issue had not been considered and decided by the First Appellate Authority, then on such matters, the CIT has powers to exercise revisionary jurisdiction under section 263.
Brocade Communications Systems Pvt. Ltd Vs The Principal Commissioner of Income Tax
(2022) TaxCorp(LJ) 30043 (ITAT-BANGALORE) · Section 263
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From the combined reading of Section 245R(2)(i) and Section 153, it is clear that assessment order is not void even though payment made to UAE entity is assessed and disallowed.
Think and Learn Private Limited Vs Principal Commissioner of Income Tax - 3
(2022) TaxCorp(LJ) 30004 (ITAT-BANGALORE)
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Powers under Section 251 are wide but cannot go to the extent of displacing powers under Section 147, 148 and 263.
C.N. Babu Vs ITO
(2022) TaxCorp(LJ) 29960 (ITAT-BANGALORE)
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Notice under Section 148 can be issued even if there is a time limit for issuance of notice under Section 143(2) has not been expired in pursuance of return filed under Section 139 for completing regular assessment.
C. Gangadhara Murthy Vs The Dy. Commissioner of Income-tax
(2022) TaxCorp(LJ) 29920 (ITAT-BANGALORE)
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The reference made to DVO under Section 142A by Revenue is not justified, thus the addition of Rs. 13.88 Cr based on DVO’s report cannot be sustained.
K. Satish Kumar Vs The Addl. CIT
(2022) TaxCorp(LJ) 29910 (ITAT-BANGALORE) · Section 142A
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The orders passed under Section 201(1) and 201(1A) is time barred since the notice itself was issued beyond the period of four years from the end of relevant FY.
Google India Pvt Ltd Vs The DCIT
(2022) TaxCorp(LJ) 29874 (ITAT-BANGALORE)
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Merely expenses for construction of building incurred in cash alone cannot be ground to hold that those expenses are related to non-specific purpose even when Revenue did not dispute the construction of building.
Gokula Education Foundation – Medical Vs The Additional Director of Income Tax
(2022) TaxCorp(LJ) 29835 (ITAT-BANGALORE) · Section 11
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The additional depreciation is allowable under Section 32(1)(iia) for assets acquired during the prior period and installed during the relevant financial year.
Bosch Limited Vs The Commissioner of Income Tax
(2022) TaxCorp(LJ) 29820 (ITAT-BANGALORE) · Section 32AC
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Property developer is not liable for deducting tax at source under Section 194A on payment of subvention charges or pre-EMI charges to housing finance company on behalf of buyer.
Ozone Urbana Infra Developers Pvt. Ltd Vs ACIT
(2022) TaxCorp(LJ) 29812 (ITAT-BANGALORE)
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The cause for the delay in filing the appeal, which could have been avoided by exercise of due care and responsibility, cannot be a sufficient cause within the meaning of the limitation provision.
Malnad Organics Pvt. Ltd Vs ITO
(2022) TaxCorp(LJ) 29761 (ITAT-BANGALORE)
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ITAT- The expenses incurred towards discontinued project of cafeteria and breakout area expansion does not bring any benefit of enduring nature to the Assessee and thus are allowable as revenue expenditure under Section 37.
Texas Instruments (India) Private Limited Vs The Additional Commissioner of Income-Tax
(2022) TaxCorp(LJ) 29735 (ITAT-BANGALORE)
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Assessee did not satisfy condition necessary for claiming deduction under Section 35AD.
Mangalore Chemicals & Fertilizers Limited Vs The Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 29723 (ITAT-BANGALORE) · Section 35AD
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Once the conditions laid down in Section 195 are fulfilled, Assessee is bound to deduct tax at source on the payment made to non-resident and Section 201 does not leave any room for exception in the cases of any contrary bonafide belief.
Nitesh Estates Limited Vs ADIT (Intl. Taxn)
(2022) TaxCorp(LJ) 29715 (ITAT-BANGALORE)
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Where only money value of partner’s interest in the firm is paid and no specific asset is distributed to the outgoing partner, section 45(4) is not applicable.
M/s. Thirumala Rice Industries Vs Asst. Commissioner of Income Tax
(2022) TaxCorp(LJ) 29614 (ITAT-BANGALORE) · Section 45(4)
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The moment an officer ceases to hold his office he becomes functus officio.
GMR Energy Limited Vs DCIT
(2022) TaxCorp(LJ) 29613 (ITAT-BANGALORE)
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Since the quantum addition is deleted by the Tribunal, there is no question of levying of any penalty.
Mahindra Electric Vehicles Ltd Vs JCIT
(2022) TaxCorp(LJ) 29568 (ITAT-BANGALORE) · Section 271(1)(c)
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It is not in dispute that the Assessee is a resident in India in the instant case and thus the taxability of capital gains is to be determined in accordance with the provisions of the Act.
Prabhukumar Aiyappa Kullatira Vs ITO
(2022) TaxCorp(LJ) 29561 (ITAT-BANGALORE)
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