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Transfer Pricing: For the purpose of benchmarking the international transactions, the effect of underutilization of capacity/excess fixed costs has to be eliminated while computing the operating margins of the assessee
HCL Technologies BPO Services Ltd vs. ACIT
(2015) TaxCorp(LJ) 7243 (ITAT-DELHI)
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Additional Evidence under Rule 46A must be allowed for reasonable cause
M/s. ONS Creations Private Limited Vs. ITO
(2015) TaxCorp(LJ) 7218 (ITAT-DELHI)
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Section 153C not applicable in absence of satisfaction recorded in the case of person searched that document belongs to the Assessee
Ms. Meena Rani Vs. ACIT
(2015) TaxCorp(LJ) 7217 (ITAT-DELHI) · Section 153C
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S. 263 CIT cannot set aside Assessment order passed after proper examination, inquiry & verification
Maya Gupta vs. CIT
(2015) TaxCorp(LJ) 7209 (ITAT-DELHI) · Section. 263
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S. 148/ 292BB: Issue of notice in the name of the deceased person renders the assessment order null and void even if the order is passed in the name of the legal heir. The fact that the legal heir attended the proceedings does not make it a curable defect u/s 292BB
ITO vs. Late Som Nath Malhotra
(2015) TaxCorp(LJ) 7204 (ITAT-DELHI) · Sections 148, 292BB
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ITAT - No addition u/s 68 merely based on some documents impounded during search/seizure operation. No effort taken by AO in rebutting the evidence provided by assessee.
Delco India Pvt. Ltd. vs. ACIT
(2015) TaxCorp(LJ) 7186 (ITAT-DELHI) · Sections. 292C, 68
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ITAT - Addition cannot be made for cash deposits in the bank account received against sale of land as undisclosed investment for mere failure of Assessee to produce such purchases before the AO during the course of assessment.
Income Tax Officer Vs. Sh. Mahender Singh
(2015) TaxCorp(LJ) 7165 (ITAT-DELHI)
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ITAT - Assessment framed by the AO on the basis of the notice issued u/s 148 of the Act in the name of the deceased assessee was invalid.
Income Tax Officer Vs. Late Sh. Som Nath Malhotra, Through Smt. Raj Rani Malhotra
(2015) TaxCorp(LJ) 7150 (ITAT-DELHI)
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ITAT - In a case where there is inadequate inquiry but not lack of inquiry, the CIT u/s 263 must conduct inquiry and verification and record the finding how the assessment order is erroneous. He cannot simply remand the matter to the AO for verification.
Maya Gupta vs. CIT
(2015) TaxCorp(LJ) 7123 (ITAT-DELHI) · Section 263
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ITAT - Payment by Indian Company to a Finland company for reviewing design/drawings prepared by the contractor to ensure that they are of right quality is not FTS under Article 13 of India-Finland DTAA. No TDS u/s 195.
ITO. Vs. Nokia India Pvt. Ltd.
(2015) TaxCorp(LJ) 7120 (ITAT-DELHI)
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ITAT - The language of section 14A includes that AO must record a satisfaction if he was unsatisfied with any incorrect claim of the assessee. If he failed to record such a finding then it cannot be said that he rightly invoked provision of section 14A.
Multiplex Capital Ltd. Vs. ITO
(2015) TaxCorp(LJ) 7100 (ITAT-DELHI) · Section 14A
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ITAT - An assessment or appeal or any legal proceedings must be proceeded with the authority who assign jurisdiction over such assessee/individual/person.
Aerens Estates P. Ltd., New Delhi Vs. DCIT
(2015) TaxCorp(LJ) 7099 (ITAT-DELHI)
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ITAT - Once assessee discharges primary onus cast on him to explain unaccounted transaction, having explained with the help of evidence, onus shift to revenue to rebut the same.
DCIT. Vs. Delco India Pvt. Ltd.
(2015) TaxCorp(LJ) 7095 (ITAT-DELHI) · Section 292C
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ITAT - There was a reasonable cause in the assessee not mentioning the correct PANs in respect of a few deductees in Form No.26Q. Penalty u/s 272B cannot be imposed.
ITO (TDS), Rohtak vs. The Executive Engineer
(2015) TaxCorp(LJ) 7080 (ITAT-DELHI) · Section. 272B
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ITAT - When notice is not issued department cannot take advantage of section 292BB. Assessment is liable to be quashed in absence of issuance of notice u/s 143 (2).
New Okhla Industrial Development Authority Vs. ACIT
(2015) TaxCorp(LJ) 7077 (ITAT-DELHI) · Section. 1432()
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ITAT - Interest income earned on amount in Escrow Account cannot be treated as Income from other sources but under income from business.
ITO. Vs. SAB Miller India Pvt. Ltd.
(2015) TaxCorp(LJ) 7076 (ITAT-DELHI)
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ITAT - Mere cessation of any liability does not create a way for assessing officer to invoke provision of section 41 (1). Whenever, an amount is borrowed towards capital account and the loan is waived off, the same cannot be brought to tax net either in terms of sec-41 (1) or 28(iv) of the Act.
ITO. vs. M/s Tinna Finex Ltd.
(2015) TaxCorp(LJ) 7075 (ITAT-DELHI) · Section. 41(1)
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ITAT - Initiation of penalty u/s 272A(2)(k) for not filing of e-TDS return starts from the date of issuance of notice by competent authority
Modipon Ltd. vs. Addl. CIT (TDS)
(2015) TaxCorp(LJ) 7064 (ITAT-DELHI) · Section 272A(2)(k)
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ITAT - The estimate of the AO in assessing the income for the year under consideration was without any basis particularly when he himself assessed the income of the assessee at nil for the preceding assessment years.
DCIT, New Delhi vs. Style Syntex Pvt. Ltd.
(2015) TaxCorp(LJ) 7060 (ITAT-DELHI)
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ITAT - Suo motu disallowance made by the assessee, is in excess to the disallowance with the working under 14A r.w. rule 8D, therefore disallowance U/s. 14A cannot be made.
Teletec Finsec India P. Ltd. vs. ITO
(2015) TaxCorp(LJ) 7058 (ITAT-DELHI) · Section. 14A
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