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Provision of training services rendered to AE falls within the ambit of FTS in terms of Article 12 of India-Singapore DTAA and liable to taxed in India.
Danone Asia Pte Limited Vs ACIT
(2022) TaxCorp(LJ) 30547 (ITAT-DELHI)
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The interest income earned out of investment made from surplus funds would be taxable as income from other sources and would not be eligible for deduction under Section 80P(2)(a)(i).
The Bharathi Co-operative Credit Society Vs The Income Tax Officer
(2022) TaxCorp(LJ) 30546 (ITAT-BANGALORE) · Sections 80P, 57
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The Assessee has made complete disclosure of facts and the issue whether interest received from the idle funds in the form of FDRs is a capital or revenue receipt is highly debatable.
Nagarjuna Oil Corporation Ltd Vs The ACIT
(2022) TaxCorp(LJ) 30545 (ITAT-CHENNAI)
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Article 24(1) of India-Singapore DTAA is not applicable to the chartered income derived by the Assessee on the voyages from Indian ports, as the income is sourced in Singapore and assessable to tax in Singapore on accrual and not on remittance basis.
Maersk Tankers Singapore Pte. Ltd Vs The Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 30537 (ITAT-RAJKOT)
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Deduction under Section 80-IA can be availed only when the development agreement is entered into by Assessee with Central or State Government or a local authority or any other statutory body.
BSC C&C JV Vs Assessing Officer, National e-Assessment Centre
(2022) TaxCorp(LJ) 30536 (ITAT-DELHI) · Section 80-IA
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Non-mentioning of date of commencement or mentioning of wrong date in Form No. 10CCB by the Auditors can be an error of reporting and thus, Assessee’s claim cannot be rejected on this basis.
Vodafone India Ltd Vs Dy. Commissioner of Income Tax
(2022) TaxCorp(LJ) 30535 (ITAT-MUMBAI)
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Even if a proposal of a scheme of amalgamation is approved by the Adjudicating Authority, no provision of such a scheme can override the existing provision of the Act.
Grasim Industries Ltd Vs DCIT
(2022) TaxCorp(LJ) 30532 (ITAT-MUMBAI)
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Distribution revenue received by the BBC World from BBC India cannot be termed as royalty, either under section 9(1)(vi) of the Act or under the India-UK DTAA.
BBC World Distribution Ltd Vs ADIT
(2022) TaxCorp(LJ) 30531 (ITAT-DELHI)
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Filing of separate application before CIT(A) for admissibility of additional evidence is not mandated under Rule 46A.
Mayur Batra Vs ACIT
(2022) TaxCorp(LJ) 30524 (ITAT-DELHI)
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There is a sale of an entire undertaking as a going concern and assessing officer should have computed the capital gains under section 45 to 50.
Lifestyle International Pvt. Ltd Vs The DCIT
(2022) TaxCorp(LJ) 30523 (ITAT-BANGALORE)
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Since the Assessee claimed deduction by filing the revised return under Section 139(5) and also uploaded the requisite audit report in Form No. 56F along with that, no infirmity can be found in the impugned order in accepting the Assessee’s claim in this regard.
Capgemini Technology Services India Limited Vs DCIT
(2022) TaxCorp(LJ) 30522 (ITAT-PUNE)
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Since assessee did not furnish any evidence or confirmation regarding the trading liability, the same shall be treated as cessation of trading liability under Section 41(1)(a), thus deemed it as business income.
Soorajmul Nagarmull Vs PRINCIPAL COMMISSIONER OF INCOME TAX
(2022) TaxCorp(LJ) 30515 (HC-CALCUTTA) · Section 41(1)(a)
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The disallowance made by the Assessee was on an ad hoc basis and a mere guess estimate.
H.T. Media Limited Vs PRINCIPAL COMMISSIONER OF INCOME TAX-4
(2022) TaxCorp(LJ) 30514 (HC-DELHI) · Section 14A
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VSV Act is neither an amnesty act nor an exemption scheme as it does not provide for any exemption or benefit solely to the taxpayer.
MUFG Bank Ltd Vs COMMISSIONER OF INCOME TAX
(2022) TaxCorp(LJ) 30513 (HC-DELHI)
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Demonetised currency was received by the Assessee and was wrongfully deposited with the bank.
Vaishnavi Bullion Private Limited Vs ACIT
(2022) TaxCorp(LJ) 30512 (ITAT-HYDERABAD) · Section 68
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The distribution revenue received by the Mauritian Firm from ESPN India is not taxable in India, neither as royalty under Article 12 nor as business profits under Article 7 of India- Mauritius DTAA.
ESS Distribution (Mauritius) SNC et Compagnie Vs DDIT
(2022) TaxCorp(LJ) 30511 (ITAT-DELHI)
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Since TDS provisions under Section 194A are not applicable on payment of interest to Assessee’s members, the addition under Section 40(a)(ia) cannot be sustained.
Nagalambika Pattina Souharda Sahakari Niyamita Vs ITO
(2022) TaxCorp(LJ) 30504 (ITAT-BANGALORE)
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The facts put forth in the present writ petition are disputed questions of facts, which cannot be adjudicated by a writ court exercising jurisdiction under Article 226 of the Constitution of India.
Ajay Gupta (HUF) Vs INCOME TAX OFFICE
(2022) TaxCorp(LJ) 30503 (HC-DELHI)
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Framing assessment on a non-existing entity is a jurisdictional defect which cannot be cured under Section 292B.
Candor Renewable Energy Pvt. Ltd Vs Asst. Commissioner of Inocome Tax
(2022) TaxCorp(LJ) 30502 (ITAT-MUMBAI)
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Assessee, despite the adequate opportunity afforded by Revenue, failed to rebut the findings of the Revenue that the transaction of sale of the share is a bogus transaction.
Abhishek Ashok Lohade Vs ITO
(2022) TaxCorp(LJ) 30501 (ITAT-PUNE) · Section 10(38)
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