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Whether consideration recieved shall be commercial in nature, when the same is earned after providing services to various Government Agencies to educate people in the areas of Urban Hosing Development
ITO. Vs. SOCIETY FOR DEVELOPMENT STUDIES
(2014) TaxCorp(LJ) 4344 (ITAT-DELHI) · Income Tax - Sections 2(15), 11, 12A(a), 80G, 143(1), 194J
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Whether issue of notice under Section 148 will not be deemed as mere change of opinion, when fresh material comes into the possession which has nexus, with the reason to believe that income chargeable to tax has escaped assessment
KAMLESH BAHEDIA Vs. ACIT
(2014) TaxCorp(LJ) 4340 (ITAT-DELHI) · Income Tax - Sections 54F, 112, 143(3), 144(1), 147, 148, 154
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Whether in case it has been accepted by the CIT(A) that assessee was prevented by sufficient cause from producing certain evidences before the Assessment Officer, can it be granted an additional opportunity of being heard before the CIT, during appeal.
DCIT. Vs ANSAL LANDMARK TOWNSHIPS PVT. LTD.
(2014) TaxCorp(LJ) 4338 (ITAT-DELHI) · Income Tax - Section 145(3)
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A.O. is not only an adjudicator but also an investigator
Krishna Shriram Vs. Commissioner of Income Tax
(2014) TaxCorp(LJ) 4337 (ITAT-DELHI)
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CUP method can be applied by a comparing a pricing formulae, rather than the pricing quantification in amount. Rule 10AB inserted w.e.f. 01.04.2012 is beneficial in nature and so retrospective w.e.f. 01.04.2002
Toll Global Forwarding India Pvt. Ltd. vs. DCIT
(2014) TaxCorp(LJ) 4335 (ITAT-DELHI)
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S. 153A/ 153C: Entire law on recording of satisfaction by the AO and limitation period explained
ACIT vs. Inlay Marketing Pvt. Ltd.
(2014) TaxCorp(LJ) 4333 (ITAT-DELHI) · Sections. 153A, 153C
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S. 271(1)(c): No penalty can be levied for a bona fide "wrong" claim which is not a "false" claim
Poysha Goyal vs. ACIT
(2014) TaxCorp(LJ) 4325 (ITAT-DELHI) · Section. 271(1)(c)
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Rule 10B(1)(b): Resale Price Method applies even where the goods are bought from an AE and sold to another AE
Yamaha Motor India Pvt. Ltd. vs. ACIT
(2014) TaxCorp(LJ) 4312 (ITAT-DELHI)
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Though there is a functional difference between a PE Fund and a Merchant Banker, A manager or a sub-advisor to the PE Fund cannot be equated with the PE Fund so as not to be comparable with Merchant Bankers
Xander Advisors India Pvt. Ltd. vs. ACIT
(2014) TaxCorp(LJ) 4311 (ITAT-DELHI)
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S. 37(1): Law on deductibility of expenditure incurred on legal fees to defend criminal proceedings explained
Praveen Saxena vs. JCIT
(2014) TaxCorp(LJ) 4307 (ITAT-DELHI) · Section. 37(1)
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(i) Method of applying Resale Price Method (RPM) method, (ii) high advertisement expenses has no bearing on the RPM, (iii) comparables with more than 25% of related party transactions (RPTs) have to be excluded, (iv) transactions which do not impact the profitability should be excluded from the formula, (v) potentially comparable companies cannot be expelled only on the ground of high or low turnover
Nokia India (P) Ltd. vs. DCIT
(2014) TaxCorp(LJ) 4306 (ITAT-DELHI)
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S. 147/ 151: Sanction by the CIT with word "approved" without recording satisfaction note renders reopening invalid
ITO. vs. N. C. Cables Ltd.
(2014) TaxCorp(LJ) 4304 (ITAT-DELHI) · Sections. 147, 151
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If assessee has followed CUP method, it cannot argue at the appellate stage that TNMM should be followed even if TPO has for later years accepted TNMM as the Most Appropriate Method
DCIT. vs. Insilco Ltd.
(2014) TaxCorp(LJ) 4298 (ITAT-DELHI)
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S. 147 Reopening solely on the basis of information received from the investigation wing & without independent application of mind is void
ACIT. vs. Devesh Kumar
(2014) TaxCorp(LJ) 4293 (ITAT-DELHI) · Section. 147
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(i) As the work done by the branch in India required high technical and managerial skill, it is not preparatory and auxiliary work of a back office but constitutes a permanent establishment (ii) Attribution of profits under Rule 10B(2) on the basis of the H.O's profits in the absence of data on uncontrolled transactions is proper, (iii) As risks were shared by the H.O. and the PE, 50% 50% of the profits determined as per rule 10 are attributable to operations carried out by the PE in India
Consulting Engineering Corporation vs. JDIT
(2014) TaxCorp(LJ) 4292 (ITAT-DELHI)
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“Umbrage” taken in Casio that BMW did not follow L. G. Electronics is based on “wrong head note”. L. G. does not deal with a case of distributor and so there is no conflict with the law laid down therein
BMW India Pvt. Ltd. vs. ACIT
(2014) TaxCorp(LJ) 4274 (ITAT-DELHI)
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No disallowance u/s 14A & Rule 8D can be made towards exempt income earned on strategic investments
Interglobe Enterprises Ltd. vs. DCIT
(2014) TaxCorp(LJ) 4266 (ITAT-DELHI) · Section. 14A
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Expenditure by way of royalty for use of technology cannot be disallowed on the ground of being capital in nature or for non-business purpose
Groz Engineering Tools Pvt. Ltd. vs. DCIT
(2014) TaxCorp(LJ) 4264 (ITAT-DELHI)
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Adjustment for capacity underutilization has to be in the results of the comparables and not the tested party. A 100% captive unit has to show that underutilization was for reasons beyond its control
DCIT vs. EDAG Engineers & Design India Pvt Ltd.
(2014) TaxCorp(LJ) 4262 (ITAT-DELHI)
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In computing operating profits, expenditure of other years has to be excluded. Forex gains and losses have to be treated at par
ITO vs. EDAG Engineers & Design India Pvt Ltd.
(2014) TaxCorp(LJ) 4261 (ITAT-DELHI)
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