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MFN clause of the Protocol to India-France DTAA forms an integral part of the DTAA and applies automatically without any further notification.
Converteam Group Vs DCIT
(2022) TaxCorp(LJ) 30212 (ITAT-DELHI)
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Bank transactions alone are not sufficient to verify the trade in crypto currency.
Parmesh Chand Yadav Vs Income Tax Officer
(2022) TaxCorp(LJ) 30211 (HC-RAJASTHAN)
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The book profits of the partnership firm arrived at without providing for mandatory depreciation as per Section 32 did not reflect true and correct state of affairs for accretion on partner’s capital.
Arthi Nursing Home Vs High Court Andhra Pradesh
(2022) TaxCorp(LJ) 30210 (HC-AP)
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Exemption under Section 11 is to be restricted only to the amount diverted in violation of Section 13.
Mumbai Education Trust Vs DY.CIT (E)
(2022) TaxCorp(LJ) 30209 (ITAT-CHENNAI) · Sections 11, 13
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Assessee is entitled to Section 80-IA deduction claimed by the way of revised return filed within the time available under Section 139(5).
Aquasub Engineering Vs The DCIT
(2022) TaxCorp(LJ) 30208 (ITAT-CHENNAI) · Section 80-IA
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The sales and marketing services rendered by the Assessee to Indian entity does not fall within the ambit of FTS as defined under Section 9(1)(vii) or FIS under Article 12 of India-US DTAA, since the said services are not of technical managerial or consultancy in nature and does not fulfil the make available condition.
Manthan System Inc Vs The DCIT
(2022) TaxCorp(LJ) 30204 (ITAT-BANGALORE)
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Since the activities carried out by the Assessee are in the nature of making profits, the Assessee is not eligible for exemption under Section 11.
All India Granites & Stone Assocaition Vs ACIT
(2022) TaxCorp(LJ) 30203 (ITAT-BANGALORE) · Section 2(15)
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The word derived from in Section 80-HH must be understood as something which has direct or immediate nexus with the appellant’s industrial undertaking.
Kanakadurga Agro Oil Products Limited Vs Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 30196 (HC-AP)
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If the Revenue passes an adverse order, the coercive action against the Assessee shall not be taken for two weeks from the service of such order so that the Assessee can take the remedial measures against such order.
eBay Singapore Services Pvt Ltd Vs Deputy Commissioner of Income Tax (IT) 2(2)(1)
(2022) TaxCorp(LJ) 30195 (ITAT-MUMBAI)
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The application of Section 43B depends on the character of the levy being either statutory or contractual.
Vipul Ltd Vs DCIT
(2022) TaxCorp(LJ) 30188 (ITAT-DELHI) · Section 43B
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Since Assessee filed the return under Section 139(4A) in the course of reassessment proceedings, it is open to the Revenue to verify the books of account and other documents on record.
Stewart Science College Vs INCOME TAX OFFICER
(2022) TaxCorp(LJ) 30187 (HC-ORISSA)
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In the present case, undisputedly, Assessee earned franchise fee in the course of its business, thus, the same was assessable as business income which can be set off against the brought forward business losses.
Channel V Music Networks Ltd Vs Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 30186 (ITAT-MUMBAI)
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Assessee is permitted to raise all the contentions including limitation aspect as well as objections for reopening the assessment w.r.t reasons furnished along with order dated 06.01.2022, as per the order of the learned Judge in WP.No.7929.
PayPal India Private Limited Vs Additional/Joint/Deputy/Assistant Commissioner of Income Tax/Income Tax Officer National Faceless Assessment Centre
(2022) TaxCorp(LJ) 30178 (HC-MADRAS)
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Assessee does not constitute a dependent agent of Car Care Private Ltd., on the ground that privity of contract for extended warranty is between the Assessee and the customers, wherein, CCPL has no role to play and the factual position emerging on record was not effectively controverted by Revenue.
Exclusive Motors Pvt. Ltd Vs ACIT
(2022) TaxCorp(LJ) 30177 (ITAT-DELHI)
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Assessee furnished various documents including cash book and bank statements for the whole year to explain the nature and source of cash deposits and three of the customers from whom amount was claimed to have been received by Assessee appeared before the Revenue confirming the payment.
Jet Freight Logistics Limited Vs Commissioner of Income Tax Appeal (NFAC)
(2022) TaxCorp(LJ) 30176 (ITAT-MUMBAI)
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A warrant issued in respect of one premises cannot be valid to search another premises and if the authorities intend to search another premise, they will have to issue another warrant after recording satisfaction in accordance with law and absence of the same would vitiate the proceedings under Section 153A.
M3M India Holdings Vs The A.C.I.T
(2022) TaxCorp(LJ) 30175 (ITAT-DELHI) · Section 153A
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Since the term or set off of any loss was specifically inserted only by the Finance Act 2016, w.e.f. Apr 1, 2017 an assessee is entitled to claim set-off of loss against income determined under Section 115BBE till AY 2016-17.
Bhima Jewellers Vs COMMISSIONER OF INCOME TAX
(2022) TaxCorp(LJ) 30174 (HC-KERALA) · Section 115BBE
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The interest income derived by a co-operative society by way of investment made with a co-operative bank is eligible for deduction under section 80P(2)(d).
Palm Court M Premises Cooperative Society Limited Vs Principal Commissioner of Income tax
(2022) TaxCorp(LJ) 30173 (ITAT-MUMBAI) · Section 80P
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The limitation being a question of law and touching upon the jurisdiction of the authority to initiate proceedings, it could be raised at any stage of the proceedings and it will not preclude the assessee from doing so.
Dinesh Kumar Goyal Vs UNION OF INDIA AND ORS.
(2022) TaxCorp(LJ) 30166 (HC-CALCUTTA)
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The ITAT has inherent powers of granting a stay on demand in fit and deserving cases, which is ancillary and incidental to its appellate powers.
Hindustan Lever Limited Vs Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 30165 (ITAT-MUMBAI)
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