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The Assessee, despite the availability of statutory appeal, chose to invoke Section 264 against the assessment order although at the time of filing the revision application there was no bar of limitation to file the appeal.
Unisource Hydro Carbon Services Private Limited & Anr Vs Union of India & Ors.
(2022) TaxCorp(LJ) 28512 (HC-CALCUTTA)
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There are other multiple factors which are strongly suggesting that the amount of loan was not recoverable, particularly, in the situations where the subsidiary company was incurring losses from the operations.
Torrent Pharmaceuticals Ltd Vs ACIT
(2022) TaxCorp(LJ) 28511 (ITAT-AHMEDABAD) · Sections 80HHC, 115JB
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Transfer of land specified as agricultural land in revenue records could not be considered as transfer of capital asset or transaction leading to business income.
D. Dasappa Vs The Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 28510 (ITAT-BANGALORE)
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The Assessing Officer cannot substitute his own value in place of the value determined either on DCF method or NAV method
INTELLIGRAPE SOFTWARE PVT. LTD. VERSUS DCIT, CIRCLE-12 (2) , NEW DELHI
(2022) TaxCorp(LJ) 28509 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95904&Category=ITAT&CategoryType=Zip
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The notice issued u/s 148 by the AO was illegal, and void abinitio.
SH. KEWAL SINGH VERSUS INCOME TAX OFFICER, WARD 4 (3) , AMRITSAR
(2022) TaxCorp(LJ) 28508 (ITAT-AMRITSAR) · https://taxcorp.in/FileOpenDT.aspx?ID=95910&Category=ITAT&CategoryType=Zip
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The benefit provided under the third proviso to section 50C(1) of the Act, should be extended to the assessee, as, ultimately the value determined by the Stamp Valuation Authority has been substituted by DVO's valuation in terms of sub-section (3) of section 50C of the Act.
SMT. KRISHNA YADAV VERSUS INCOME TAX OFFICER, WARD-2 (3) GURGAON
(2022) TaxCorp(LJ) 28507 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95912&Category=ITAT&CategoryType=Zip
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There was no basis with the Ld. CIT(E) at all for arrive at his finding that the assessment order passed in the present case was in error by allowing the assessee exemption of 15% of its income from Government grants.
SOCIETY FOR DENTAL HEALTH EDUCATION & RESEARCH CIVIL HOSPITAL CAMPUS VERSUS ITO (E) WARD-2, AHMEDABAD
(2022) TaxCorp(LJ) 28506 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95913&Category=ITAT&CategoryType=Zip
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We find merit in the additional grounds challenging validity of assessment order passed by Addl.CIT without proper authorization.
TATA COMMUNICATIONS LTD. (FORMERLY VIDESH SANCHAR NIGAM LTD.) VERSUS ADDITIONAL COMMISSIONER OF INCOME TAX, RANGE 1 (3) , MUMBAI AND THE DCIT -1 (3), MUMBAI
(2022) TaxCorp(LJ) 28505 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=95914&Category=ITAT&CategoryType=Zip
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No notice u/s. 148 is to be issued by an AO unless the specified approving authority is satisfied, on the reasons recorded by the AO, that it is a fit case for the issue of such notice.
SH. HARJINDER SINGH VERSUS THE INCOME TAX OFFICER, WARD-2 (1) BATHINDA
(2022) TaxCorp(LJ) 28504 (ITAT-AMRITSAR) · https://taxcorp.in/FileOpenDT.aspx?ID=95900&Category=ITAT&CategoryType=Zip
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A pedantic interpretation to the book profit as mentioned in the Explanation would be an antithesis to the purpose, for which it was enacted by the legislature and would result in absurdity and contradictions.
Everest Kanto Cylinder Ltd Vs Asst. CIT (LTU)-2
(2022) TaxCorp(LJ) 28503 (ITAT-MUMBAI)
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The notice for personal hearing should be given at least 7 days in advance.
Tata AIG General Insurance Company Ltd Vs Ad /Joint/Deputy/Asistant Commisioner of Income Tax/Income Tax Oficer & Ors.
(2022) TaxCorp(LJ) 28502 (HC-BOMBAY)
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The grounds made for conducting search under Section 132 cannot be said to be mala fide or arbitrary.
Durgappa Lakkanna Vs Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 28501 (HC-KARNATKATA)
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Non-obstante clause is generally incorporated in a statute to give overriding effect to a particular section of the statute as a whole.
THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 16 (1). VERSUS M/S. LABZONE ELECTRONICS CITY PRIVATE LIMITED (FORMERLY KNOWN AS M/S. ALEXANDRIA LABSPACE ELECTRONICS CITY PRIVATE LIMITED)
(2022) TaxCorp(LJ) 28500 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95881&Category=ITAT&CategoryType=Zip
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Rate of tax provided in the tax treaty cannot be enhanced by including surcharge and education cess separately.
M/S. RENAISSANCE SERVICES BV C/O. BMR & ASSOCIATES LLP BMR HOUSE VERSUS DEPUTY DIRECTOR OF INCOME TAX, DEPUTY DIRECTOR OF INCOME TAX (INTERNATIONAL TAXATION) - 4 (1) (1)
(2022) TaxCorp(LJ) 28499 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=95882&Category=ITAT&CategoryType=Zip
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Disallowance made by the AO is not sustainable and, therefore, we set aside the orders of the Ld. CIT(A) and allow the ground raised by assessee challenging the disallowance u/s 40A(3).
GOURI SHANKAR JAIN VERSUS CIT (A) , NATIONAL FACELESS APPEAL CENTRE (NFAC)
(2022) TaxCorp(LJ) 28498 (ITAT-KOLKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=95888&Category=ITAT&CategoryType=Zip
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Revenue having not clearly established the violation of provisions of section 269SS of the Act by the assessee ,its entire case resting on interpretation of entry in a diary found during search,it is not a fit case for levy of penalty u/s 271D.
M/S. MADHUVAN CORPORATION VERSUS ADDL. CIT, CENTRAL RANGE, BARODA
(2022) TaxCorp(LJ) 28497 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95896&Category=ITAT&CategoryType=Zip
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The principle of natural justice is to be applied in each case depending upon the facts and circumstances and the compelling situations.
ADITYA TRIPATHI VERSUS PRINCIPAL COMMISSIONER OF INCOME TAX-I, BHOPAL (MADHYA PRADESH) , ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1 (2) , HYDERABAD (TELANGANA)
(2022) TaxCorp(LJ) 28495 (HC-MP) · https://taxcorp.in/FileOpenDT.aspx?ID=86677&Category=Judgment&CategoryType=Zip
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When sales return does not qualify as expenditure in terms of Section 37(1), the provision for sales return cannot be allowed u/s 37(1).
Herbalife International India Private Ltd Vs The Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 28494 (ITAT-BANGALORE) · Section 37(1)
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Since Assessee placed the list of rural branches along with supporting documents, it was Revenue's duty to examine the classification as per Explanation (ia) to Section 36(1)(viia).
HDFC Bank Ltd. Vs Assistant Commissioner of Income-tax-2(3)
(2022) TaxCorp(LJ) 28493 (HC-BOMBAY) · Section 148
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In the present case, there is no qualm over the fact that the Assessee had entered into a contract with ONGC on turn-key basis for enhancing the exploration/production capacity of the platform.
Larsen & Toubro Ltd. Vs Deputy Income-tax (International Taxation) 4(1)
(2022) TaxCorp(LJ) 28492 (HC-BOMBAY) · Section 44BB
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