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ITAT - Education cess is not deductible u/s 40(a)(ii) since education cess is additional surcharge as per the Finance Acts. Disagrees from Bombay HC ruling in Sesa Goa and Rajasthan HC ruling in Chambal Fertilizerssince. Relied on SC ruling where surcharge and additional surcharge were held to be a part of the income-tax.
Kanoria Chemicals & Industries Ltd Vs Addl. CIT
(2021) TaxCorp(LJ) 27972 (ITAT-KOLKATA) · Section 40(a)(ii)
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SC - Pending disposal of appeal, status-quo shall be maintained by the parties and to facilitate an early disposal - Dispose appeal preferably in 3 months.
Indus Towers Ltd. Vs ASSISTANT COMMISSIONER OF INCOME TAX
(2021) TaxCorp(LJ) 27971 (SC)
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HC - Assessee has been put to prejudice which cannot be remedied and also no sufficient cause has been shown for such delay, declines to condone the inordinate delay in filing the appeal.
Nitu Agarwal Vs PRINCIPAL COMMISSIONER OF INCOME
(2021) TaxCorp(LJ) 27970 (HC-CALCUTTA)
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ITAT - Irrecoverable advance paid in the course of business allowed as trading loss as assessee had proceeded u/s 138 of the Negotiable Instruments Act against the managing director of the entity.
Foretell Business Solutions Pvt. Ltd Vs The Income Tax Officer
(2021) TaxCorp(LJ) 27969 (ITAT-BANGALORE)
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Assessee’s treatment of the rental income is upheld.
Lewis Family Trust Vs ITO
(2021) TaxCorp(LJ) 27968 (ITAT-MUMBAI) · Section 24(a)
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The Assessee being a partnership firm, was not under a statutory obligation for complying with the CSR provisions.
M.Hanumantha Rao Vs The Assistant Commissioner of Income-tax
(2021) TaxCorp(LJ) 27967 (ITAT-BANGALORE) · Section 37(1)
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The expenses incurred in connection with the issue of shares to increase the share capital with the object of enhancement of capital to have more working funds would be treated as revenue expenditure.
PC Jewellers Ltd Vs ACIT
(2021) TaxCorp(LJ) 27966 (ITAT-DELHI) · Sections 37(1), 35D
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Since amendment of Finance Act 2014 did not specifically state that it had retrospective effect, it would be applicable prospectively.
Aleo Manali Hydro Power Pvt. Ltd Vs Income-tax Officer(TDS)
(2021) TaxCorp(LJ) 27965 (ITAT-DELHI) · Section 201(3)
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The CIT(A)’s order is being upheld, and interest, depreciation and other expenses are being allowed as business expenses.
Ruchi Malls Pvt. Ltd Vs ACIT
(2021) TaxCorp(LJ) 27964 (ITAT-DELHI)
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Non-taxable capital receipt will include the sales tax refunded as subsidy.
Shree Vaishnav Casting Pvt. Ltd Vs DCIT
(2021) TaxCorp(LJ) 27963 (ITAT-MUMBAI)
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The word received mentioned in Section 153(2A) has to be construed as having knowledge, therefore, the remaining effect should also have been given on or before Mar 31, 2016.
Qualcomm Incorporated USA Vs The Dy. C.I.T
(2021) TaxCorp(LJ) 27962 (ITAT-DELHI) · Section 153(2A)
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The subsidy received by the Assessee is a capital receipt not liable to tax.
Jindal Steel & Power Ltd Vs Addl. CIT
(2021) TaxCorp(LJ) 27961 (ITAT-DELHI)
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Disallowance made by Revenue was for non-furnishing of TRCs and taxability of payments under applicable DTAAs was not examined.
Chander Mohan Lall Vs Assistant Commissioner of Income Tax
(2021) TaxCorp(LJ) 27960 (ITAT-DELHI) · Section 40(a)(i)
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Since the Revenue did not place any material on record to demonstrate that earlier order in Assessee’s favour had been set aside/overruled or stayed by higher judicial forum, allows Scholarship Expenses.
Harish N. Salve Vs ACIT
(2021) TaxCorp(LJ) 27952 (ITAT-DELHI) · Section 90
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The Assessee is only granting access to its database to DJCIPL and the payments received cannot be said to be Royalty in nature.
Dow Jones & Company Inc. Vs The A.C.I.T.
(2021) TaxCorp(LJ) 27951 (ITAT-DELHI)
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The expenditure incurred by the assessee are purely revenue in nature and cannot be considered as capital expenditure.
Jasper Infotech Pvt. Ltd Vs Addl. CIT
(2021) TaxCorp(LJ) 27949 (ITAT-DELHI)
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Revenue cannot frustrate the purpose of substituted statutory provisions, sections 147 to 151 in the present instance by emptying it of their content, or impeding or postponing their operation.
Mon Mohan Kohli Vs ASSISTANT COMMISSIONER OF INCOME TAX & ANR
(2021) TaxCorp(LJ) 27943 (HC-DELHI)
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Fee charged by bank for providing card swiping machine was in the nature of fee for rendering banking services, and thus there was no obligation for tax deduction u/s 194H.
Elymer International Pvt. Ltd Vs ACIT
(2021) TaxCorp(LJ) 27942 (ITAT-DELHI) · Section 194H
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In the instant matter, it was not a case where the Assessee had not disclosed any information, thus, the pre- condition for reopening of assessment as per proviso to Section 147 was not complied with.
Grasim Industries Limited Vs Deputy Commisioner of Income Tax
(2021) TaxCorp(LJ) 27937 (HC-BOMBAY)
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Revenue is directed to dispose of the application u/s 197 preferred by Alcatel Lucent International by passing a reasoned order within two weeks.
Alcatel Lucent International Vs INCOME TAX OFFICER TDS
(2021) TaxCorp(LJ) 27930 (HC-DELHI) · Section 197
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