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ITAT - Addition on figures scribbled on loose slips, found and seized during the course of search is not justified as the rest of substantive addition has been deleted, then there is no ground to uphold the protective addition in the hands of present assessee
Asstt. Commissioner of Income Tax, Shri Suresh Monga Versus Shri Suresh Monga, ACIT, Circle 23(1), New Delhi
(2015) TaxCorp(LJ) 5703 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=39957&Category=ITAT&CategoryType=Zip
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ITAT - If the disallowance u/s 40A(3) is directly relatable to the profit of the eligible projects, then the deduction u/s 80IB be accordingly recomputed.
DCIT Versus M/s Surya Merchants Ltd.
(2015) TaxCorp(LJ) 5696 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=39941&Category=ITAT&CategoryType=Zip
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ITAT - Assessee furnished the evidences to prove the identity of the creditors/share applicants by furnishing their PAN number and copy of acknowledgment of Income-tax Return, Share application was received through banking channel. No addition on account of bogus accommodation entry.
Income Tax Officer Versus M/s Reliance Marketing Pvt. Ltd.
(2015) TaxCorp(LJ) 5695 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=39943&Category=ITAT&CategoryType=Zip
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ITAT - Omission on the part of the assessing officer to issue notice under section 143(2) cannot be cured by taking recourse to the deeming fiction u/s 292 BB
Greater Noida Industrial Development Authority Versus ACIT, Circle 3, Noida
(2015) TaxCorp(LJ) 5694 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=39896&Category=ITAT&CategoryType=Zip
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ITAT - Employment of 37 engineers out of a total staff of 69 by assessee could not per se lead to conclusion that assessee was a technical services provided for transfer pricing purpose
Dassault Systems India (P.) Ltd. v. Deputy Commissioner of Income-tax, Circle-10(1), New Delhi
(2015) TaxCorp(LJ) 5688 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=39952&Category=ITAT&CategoryType=Zip
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ITAT - Any amount received in lieu of a source of income is a capital receipt not chargeable to tax is not applicable in all circumstances. Exception is that when such source of income is in the nature of capital asset, being not any of those specified in section 55(2)
Usha International Ltd. vs. DCIT
(2015) TaxCorp(LJ) 5668 (ITAT-DELHI)
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ITAT - Revenue has not pointed out any basis for apportionment of expenses on the basis of sales ratio of Parwanoo and non-Parwanoo unit so as to increase the profit of the Parwanoo business which may result in higher deduction u/s 80IB. Apportionment of expenses placed by assessee is approved.
NIIT GIS Ltd. Versus Asstt. Commissioner of Income Tax
(2015) TaxCorp(LJ) 5662 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=39920&Category=ITAT&CategoryType=Zip
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ITAT - Assessee's (a senior citizen) explanation for cash deposits made from bank withdrawals is accepted as valid u/s 68. The departmental machinery so set in motion in the case of “Senior-citizens” may need an administrative policy rethink
ITO vs Dinesh Chand
(2015) TaxCorp(LJ) 5658 (ITAT-DELHI)
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ITAT - In transfer pricing proceedings, TPO taking a view that assessee could not prove that services were actually rendered and it derived any benefit from said services, determined arm's length price of transaction in question at 'NIL'.
Rockwell Automation India (P.) Ltd. v. Deputy Commissioner of Income-tax, Circle- 15 (1), New Delhi
(2015) TaxCorp(LJ) 5623 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=39143&Category=ITAT&CategoryType=Zip
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ITAT - Photocopies in the possession of a Searched person ("relates to") does not mean and imply that they “belong to" the person who holds the originals. There is difference between “belongs to” and “relates to”
DCIT vs Qualitron Commodities Pvt. Ltd
(2015) TaxCorp(LJ) 5595 (ITAT-DELHI) · Section 153C
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ITAT - In absence of non service of the mandatory notice u/s. 143(2), assessment completed u/s. 143(3) / 147 of the I.T. Act is invalid
Shri Jai Shiv Shankar Traders Pvt. Ltd. Vs. ITO
(2015) TaxCorp(LJ) 5577 (ITAT-DELHI) · Section. 143(2)
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ITAT - The requirement of filing of audit report along with the return was not mandatory but directory and that if the audit report was filed at any time before the framing of the assessment, the requirement of section 80-IA(7) would be met
DCIT. vs. M/s Surya Merchants Ltd.
(2015) TaxCorp(LJ) 5566 (ITAT-DELHI)
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ITAT - For xection 10A exemption, approvals given by the Directors of Software Technology Parks of India are valid having the authority of the Inter-ministerial Standing Committee
Mentor Graphics (Noida) P. Ltd. Vs. DCIT
(2015) TaxCorp(LJ) 5563 (ITAT-DELHI) · Section 10A
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ITAT - Since assessee-society is having as its dominant objects of promoting improvement of public health and medical education, therefore ‘endorsement money’ received from Pepsico for products delivering health benefits will be exempt u/s 11.
ADIT vs Indian Medical Association
(2015) TaxCorp(LJ) 5535 (ITAT-DELHI) · Section 11
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ITAT - Taxability of royalty received by assessee a foreign company from foreign OEMs on sale of CDMA technology-enabled handsets. When the royalty is for use of a technology in manufacturing, it is to be taxed at the situs of manufacturing the product, and, when the royalty is for use of technology in functioning of the product so manufactured, it is to be taxed at the situs of use.
Qualcomm Incorporated vs ADIT
(2015) TaxCorp(LJ) 5513 (ITAT-DELHI)
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ITAT - In view of proviso to section 153C, date of receipt of seized material would be considered to count limitation period for issuing section 153C notice
R.L. Allied Industries v. Income-tax Officer, Ward-20(1), New Delhi
(2015) TaxCorp(LJ) 5501 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=39547&Category=ITAT&CategoryType=Zip
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ITAT - A company engaged in developing software tools after R&D and were intellectual property of the company cannot be a chosen as functionally comparable for a Company developing software on contract basis without any IP rights
Element K India (P.) Ltd. v. Income-tax Officer, Ward 11 (1), New Delhi
(2015) TaxCorp(LJ) 5499 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=38648&Category=ITAT&CategoryType=Zip
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ITAT - Merely because the assessee disclosed additional income suo motu after issue of a notice u/s 143(2) of the Act, does not amount to detection of concealment by the AO u/s. 271(1)(c) of the Act.
ACIT. Vs. Ashok Raj Nath
(2015) TaxCorp(LJ) 5498 (ITAT-DELHI) · Section. 143(2)
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ITAT - Unless revenue proves understatement of consideration with some cogent evidence, addition u/s 69B on the basis of DVO’s report is not justified.
ACIT vs. Rakesh Narang
(2015) TaxCorp(LJ) 5495 (ITAT-DELHI) · Section 50C, 69B
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ITAT - Purchase of gold having been shown as investment in balance sheet as well as in wealth-tax return, loss incurred on sale of gold within a year was to be treated as short-term capital loss.
Deputy Commissioner of Income-tax, Circle 11 (1), New Delhi v. Laxman Dass Mittal
(2015) TaxCorp(LJ) 5480 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=39754&Category=ITAT&CategoryType=Zip
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