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HC - Delhi HC Sets Aside Sec.148A(b) Notice for non-application of mind by the Revenue; Directs Reassessment Proceedings
Home Credit India B. V. Vs ASSISTANT COMMISSIONER OF INCOME TAX
(2023) TaxCorp(LJ) 31838 (HC-DELHI) · Section 148A(b)
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As per Article 24, the exemption or reduction of tax to be allowed under the DTAA in India shall only apply to so much of the income as is remitted to or received in Singapore where the laws in force in Singapore provides that the said income is subject to tax based on the amount remitted or received in Singapore, however, where under the laws in force if the income is subject to tax based on full amount regardless of remission or receipt in Singapore, then Article 24(1) would not apply.
Citicorp Investment Bank (singapore) Ltd. Vs Commissioner Of Income Tax(IT)-2
(2023) TaxCorp(LJ) 31837 (HC-BOMBAY)
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As long as the exemption certificate is in force, the Assessee is entitled to exemption.
Rashtreeya Sikshana Samithi Trust Vs PR COMMISSIONER OF INCOME-1 TAX
(2023) TaxCorp(LJ) 31830 (HC-KARNATKATA)
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The determinative test to qualify for the benefit of deduction under Section 10A, is that the rendition of onsite services outside India by the Assessee should be an integral part of the overall computer software development project, which the Assessee undertook to do for its foreign customer.
LTIMindtree Limited Vs Additional Commissioner of Income Tax
(2023) TaxCorp(LJ) 31829 (ITAT-MUMBAI)
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The donations to trust forming part of CSR obligation would be eligible for deduction under Section 80G and the benefit under Chapter VI-A for computing ‘total taxable income’ cannot be denied as it would lead to double disallowance which is contrary to the intention of legislature.
Synergia Lifesciences Pvt. Ltd Vs Dy. Commissioner of Income Tax
(2023) TaxCorp(LJ) 31823 (ITAT-MUMBAI) · Section 80G
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Perusal of the show cause notice under Section 148A(b) clearly stipulates that no allegation mentioned in Section 148A(d) order concerning the two companies with respect to the Assessee was made to enable the Assessee to defend and explain the said allegations.
Rajesh Kumar Agarwal Vs UNION OF INDIA AND ORS
(2023) TaxCorp(LJ) 31822 (HC-CALCUTTA) · Sections 148A(d), 148A(b)
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The interest on enhanced compensation received through an arbitration award is to be treated as part of the said compensation and the same is taxable under the head of long term capital gain and not under income from other sources.
The Baranagar Jute Factory PLC Vs Principal CIT-1
(2023) TaxCorp(LJ) 31821 (ITAT-KOLKATA)
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If there was no commercial expediency, there was no reason for the Assessee to incur these amounts or participate in the rehabilitation scheme of MMC, thus expenditure is deductible under Section 28.
Mahindra and Mahindra Ltd Vs Commissioner of Income Tax
(2023) TaxCorp(LJ) 31820 (HC-BOMBAY) · Section 28
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Obligation to deduct tax at source under Section 195 arises only when such remittances is a sum chargeable to tax under section 4, 5 and 9 of the Act.
Trusted Aerospace Engineering Pvt. Ltd Vs The Deputy Commissioner of Income Tax
(2023) TaxCorp(LJ) 31819 (ITAT-CHENNAI)
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Once a particular asset, forms a part of particular block of assets in respect of depreciation was allowed, even when that particular asset is not used in the relevant assessment year, the depreciation on that particular block of asset on WDV of that particular block of asset in which this asset falls is still allowable.
Bilcare Limited Vs DCIT
(2023) TaxCorp(LJ) 31812 (ITAT-PUNE)
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Section 80 by a non obstante clause prohibits claim of carry forward of losses unless determined under Section 139(3) which, in turn, mandates, the loss return must be filed within time limit prescribed under Section 139(1).
RRPR Holding Private Limited Vs Deputy Commissioner of Income Tax
(2023) TaxCorp(LJ) 31811 (ITAT-DELHI)
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ITAT - Pune ITAT Quashes Revisionary Order on Share-Premium Taxability, CIT failed to point out where the Revenue went wrong in allowing the claim.
Indospace Park Chakan 1 Phase 2A Private Limited Vs Pr.CIT (Central)
(2023) TaxCorp(LJ) 31810 (ITAT-PUNE)
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HC - Delhi HC Rescues Assessee from Appeal-Filing Error, Though ignorance of the law is no excuse but still not everyone knows the law, Directs Admission of VsV Declaration
Ardent Info Systems Pvt. Ltd Vs PR COMMISSIONER OF INCOME TAX -1 & ORS
(2023) TaxCorp(LJ) 31803 (HC-DELHI)
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Ruling does not give to a general principle that, a notice under Section 143(2) which is couched in general terms would lose veracity under the Act and would compromise the fate of an assessment that follows.
Angusamy Gounder Subbu Rathinamun Vs The Assistant Commissioner
(2023) TaxCorp(LJ) 31802 (HC-MADRAS) · Section 143(2)
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It would be a dichotomy, if the ROI filed by the assessee in the name of non existing entity is considered as valid return and assessment order passed by the LD AO on such nonexistent entity on the basis of such ROI is held to be invalid. Rules of the assessment cannot be different for the assessee and AO.
Star India Pvt. Ltd. (Successor of Star Sports India Pvt. Ltd.) Vs ACIT
(2023) TaxCorp(LJ) 31795 (ITAT-MUMBAI)
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Section 195 has no application once the nature of payment is determined as salary and deduction has been made under Section 192.
Ernst & Young U.S. LLP Vs The A.C.I.T.
(2023) TaxCorp(LJ) 31794 (ITAT-DELHI)
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The interest-meter continues to tick, which, sadly, is having no impact on the officers who are required to ensure that once determination is made, money by way of refund, inclusive of interest, should be remitted to the assessee at the earliest.
Peoplestrong Technologies Private Limited Vs ASSISTANT COMMISSIONER OF INCOME-TAX & ORS.
(2023) TaxCorp(LJ) 31793 (HC-DELHI)
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In the absence of finding that non-recovery of the tax due from the company can be attributed to any gross- negligence, misfeasance or breach of duty on the part of the directors, no order could have been made under Section 179(1) for recovering the same from the directors.
Prakash B. Kamat Vs Principal Commissioner of Income-tax
(2023) TaxCorp(LJ) 31785 (HC-BOMBAY) · Section 179
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When the supply of plant and equipment has been treated as sale transaction completed outside India, hence, not taxable in India, the sale and supply of drawings and designs being inextricably linked to sale and supply of plant and equipment has to be considered cumulatively and as a part of sale and supply of plant and equipment.
SMS Concast AG Vs DDIT
(2023) TaxCorp(LJ) 31780 (ITAT-DELHI)
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The onus to establish the existence of PE is entirely on the Revenue and Existence of a PE is to be determined year-to-year.
Nuovo Pignone International Vs DCIT
(2023) TaxCorp(LJ) 31779 (ITAT-DELHI)
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