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ITAT - Neither AO nor CIT disclosed the basis of approval after the objection as raised by the assessee to the show cause notice u/s 142(2A) and hence order is a vitiated order.
M/s. Unitech Ltd. Versus Additional CIT, New Delhi And Vice-versa
(2016) TaxCorp(LJ) 10622 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=49897&Category=ITAT&CategoryType=Zip
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ITAT - TPO was justified in segregating the international transactions of payment of royalty and FTS from other international transactions as these are not linked with import of raw material etc. from its AE.
Gruner India Pvt. Ltd. Versus DCIT, Circle-10 (2) , New Delhi
(2016) TaxCorp(LJ) 10479 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=49902&Category=ITAT&CategoryType=Zip
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ITAT - Business loss cannot be set off against the income assessed u/s 68, where the same is not falling under any of the five heads of income
Asstt. Commissioner of Income Tax, Circle, Haridwar Versus M/s. Sant Steel & Alloys (P) Ltd.
(2016) TaxCorp(LJ) 10478 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=49903&Category=ITAT&CategoryType=Zip
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S. 30/ 37(1): Expenditure on repairs of rented premises, even if huge and accumulated, are allowable as revenue expenditure. Fact that CIT(A) admitted additional evidence is no justification for seeking a set aside to the AO if the CIT(A) called for a remand report from the AO: Savarana Spinning mills Limited 293 ITR 201 (SC) distinguished
DCIT vs. Ikea Trading (India) P Ltd
(2016) TaxCorp(LJ) 10473 (ITAT-DELHI) · Sections 30, 37(1)
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ITAT - Initiation of two parallel proceedings (sec. 154 and 147) on a similar subject matter cannot sustain.
Sushil Kumar Jain vs. ACIT
(2016) TaxCorp(LJ) 10472 (ITAT-DELHI)
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S. 147/ 148: The AO is duty bound to provide to the assessee the reasons recorded for reopening the assessment within a reasonable time. Failure to do so renders the reassessment order unsustainable in law
Inderjeet Singh Sachdeva vs. DCIT
(2016) TaxCorp(LJ) 10337 (ITAT-DELHI) · Sections 147, 148
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ITAT - Receipts on account of supply of software were integrally connected to the supply of hardware and, therefore, AO was not right in taxing such receipts as royalty.
ZTE Corporation Versus Addl. Director of Income-tax And Vice-Versa
(2016) TaxCorp(LJ) 10324 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=49365&Category=ITAT&CategoryType=Zip
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ITAT - No addition on account of variation in the value of closing stock between the value declared in the accounts and the value declared to the Bank where assessee demonstrated with evidence that the closing stock declared in the books of account is correct.
Ratan Singh Ror Prop. Ved Poultry Feed Versus ITO, Ward, Karnal
(2016) TaxCorp(LJ) 10323 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=49528&Category=ITAT&CategoryType=Zip
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ITAT - Income arising from the DMRC contract was not assessable to tax in the hands of AOP but each member of the AOP in their own capacity.
ADIT, Circle-2 (1) , New Delhi Versus Persys Punj Lloyd JV, New Delhi
(2016) TaxCorp(LJ) 10275 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=49348&Category=ITAT&CategoryType=Zip
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ITAT - NO TDS on payment on account of inter-connectivity charges and usage of leased line as same is not chargeable to tax in India.
M/s. YRC Logistics India Pvt. Ltd., (Now MIQ Logistics India Pvt. Ltd.) Vesus ITO, Ward 18 (4) , New Delhi
(2016) TaxCorp(LJ) 10274 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=49350&Category=ITAT&CategoryType=Zip
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S. 147: Non-furnishing by the AO of reasons recorded for reopening the assessment results in violation of the law laid down in GKN Driveshaft 259 ITR 19 (SC) & renders the reopening void
Ujagar Holdings Pvt. Ltd vs. ITO
(2016) TaxCorp(LJ) 10258 (ITAT-DELHI) · Section 147
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S. 147/ 148/ 153C: A case where the AO detects incriminating material in search has to be processed only u/s 153C and not u/s 147. A notice u/s 148 to assess such undisclosed income is void ab initio
Rajat Saurabh Chatterji vs. ACIT
(2016) TaxCorp(LJ) 10257 (ITAT-DELHI) · Sections 147, 148, 153C
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S. 271(1)(c) vs. 271AAA: Levy of penalty u/s 271(1)(c) on income disclosed in a search instead of u/s 271AAA is not sustainable
Ashwani Kumar Arora vs. ACIT
(2016) TaxCorp(LJ) 10256 (ITAT-DELHI) · Sections 271(1)(c), 271AAA
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S. 92(2): Important principles of law laid down with regard to the “Need Test”, “Evidence Test” or “Rendition Test” to evaluate the ALP of intra-group services rendered by an Associated Enterprise and whether the TPO has the right to determine the ALP at ‘Nil’
GE Money Financial Services Pvt Limited vs. ACIT
(2016) TaxCorp(LJ) 10175 (ITAT-DELHI) · Section 92(2)
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S. 147/ 148, 151: Law on validity of reopening where S. 148 notice is issued in a mechanical manner, based on information received from another AO, and sanction is accorded by the CIT in a mechanical explained
Banke Bihari Properties Pvt. Ltd vs. ITO
(2016) TaxCorp(LJ) 10145 (ITAT-DELHI) · Sections 147, 148, 151
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ITAT - Explanation given by assessee that it was under a genuine belief that it was entitled for relief u/s 80 IA (supported by CA-certificate) is bonafide. Penalty u/s 271(1)(c) deleted.
Oxford Softech P. Ltd. vs. ITO
(2016) TaxCorp(LJ) 10135 (ITAT-DELHI) · Section. 80IA
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S. 271(1)(c): Income-tax provisions are highly complicated and it is difficult for a layman to understand the same. Even seasoned tax professionals have difficulty in comprehending these provisions. Making a claim for deduction u/s S.80 IA which has numerous conditions is a complicated affair & cannot attract penalty
Oxford Softech P. Ltd vs. ITO
(2016) TaxCorp(LJ) 10133 (ITAT-DELHI)
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S. 147: Reopening in the absence of fresh material and merely on change of opinion is nor permissible
Vijay Power Generators Ltd vs. ACIT
(2016) TaxCorp(LJ) 10093 (ITAT-DELHI) · Section 147
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S. 145: Books of account cannot be rejected on an arbitrary basis
Samwon Precision Mould Mfg. (India) P. Ltd. vs. ITO
(2016) TaxCorp(LJ) 10092 (ITAT-DELHI) · Section 145
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Section 68- Cash Credit
Hitender Pal Singh vs. ITO
(2016) TaxCorp(LJ) 10064 (ITAT-DELHI) · Section 68
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