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There is no scope for making any adjustment for the gift while determining the full value of consideration under the deeming provisions of section 50C.
Nilesh Tanukumar Patel Vs I.T.O.
(2021) TaxCorp(LJ) 27929 (ITAT-AHMEDABAD) · Section 50C
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Where the core of a transaction is to authorise the end-user to have access to and make use of the licenced software over which the licencee has no exclusive rights, no copyright is parted with and therefore, the payment received cannot be termed as royalty.
EY Global Services Limited Vs ASSISTANT COMMISSIONER OF INCOME TAX & ANR.
(2021) TaxCorp(LJ) 27928 (HC-DELHI)
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No interest can be charged u/s 234B and charging of interest under Section 234C is consequential.
GE Energy Management Services Inc Vs The Asstt. D.I.T
(2021) TaxCorp(LJ) 27921 (ITAT-DELHI)
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The scope of the sixth proviso to Section 32(1) cannot be extended to transactions of purchases between two unrelated parties.
TUV Rheinland NIFE Academy Private Limited
(2021) TaxCorp(LJ) 27920 (ITAT-MUMBAI) · Section 32(1)
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The sale of TDR could not be considered in isolation of Assessee’s obligation to complete the project as per the agreement.
DBS Realty Vs Asst. Commissioner of Income Tax
(2021) TaxCorp(LJ) 27919 (ITAT-MUMBAI)
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Penalty is mandatory where the Assessee has admitted undisclosed income during the course of search in the statement recorded u/s 132(4).
N.Santhanam Vs The Assistant Commissioner Income Tax
(2021) TaxCorp(LJ) 27918 (ITAT-CHENNAI) · Sections 271AAB, 273B
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There was no justifiable reason for separating and treating Rs.5.31 Cr. differently from the Prize Money Expenditure of Rs.3.9 Cr.
Infosys Science Foundation Vs The Joint Commissioner of Income-Tax
(2021) TaxCorp(LJ) 27917 (ITAT-BANGALORE) · Section 11(2)
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The Assessee is not liable to pay DDT.
Small Industries Development Bank of India Vs Central Board of Direct Taxes Ministry of Finance
(2021) TaxCorp(LJ) 27912 (HC-BOMBAY) · Section 50
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Mere admission u/s 132(4) cannot form the basis of addition.
ISMT Limited Vs ACIT
(2021) TaxCorp(LJ) 27911 (ITAT-PUNE) · Section 132(4)
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Revenue is directed to consider allowability or otherwise of claim of the Assessee in accordance with provisions of Sec. 10(5).
Hareshkumar Ratilal Kansara Vs ITO
(2021) TaxCorp(LJ) 27910 (ITAT-AHMEDABAD) · Section 10(5)
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Merely because the Assessee has engaged outsiders for transportation or leased out some of the so downs for storage does not mean that the Assessee is not engaged in the integrated business of handling and storage of food grains.
LTC Commercial Company Pvt. Ltd Vs ACIT
(2021) TaxCorp(LJ) 27909 (ITAT-DELHI) · Section 80-IB(11A)
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If an assessee filed a declaration and pay specified taxes as per the scheme and withdraw the appeal pending before the appellate authorities, the Designated Authority shall pass an order in Form 5 confirming payment made under the scheme and grant immunity from penalty and prosecution.
Ratna Foundation Vs The Income Tax Officer
(2021) TaxCorp(LJ) 27908 (ITAT-CHENNAI)
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When all the necessary details of the fund provider was available with the assessing officer, he was free to make the necessary enquiry and addition under section 68 in the hands of the recipient were unjustified.
Shalimar Housing & Finance Ltd Vs JCIT(OSD)
(2021) TaxCorp(LJ) 27907 (ITAT-MUMBAI) · Section 68
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Once Form no. 15G has been received by the assessee, disallowance under section 40(a)(ia) of the Act is uncalled for, despite its alleged non-submission to the department.
B. Nanji A. Mehta Lodha & Co. Vs The Income Tax Officer
(2021) TaxCorp(LJ) 27906 (ITAT-AHMEDABAD) · Sections 194A, 40(a)(ia)
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Section 263 could be taken if twin conditions viz. impugned order should be erroneous, and it should be prejudicial to the interest of the Revenue.
Kaushikbhai P. Patel Vs Pr.Commissioner of IT-7
(2021) TaxCorp(LJ) 27905 (ITAT-AHMEDABAD) · Section 263
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Income from unsold flats to be held as stock-in-trade and will be taxable under the head income from house property.
Dimple Enterprises Vs DCIT
(2021) TaxCorp(LJ) 27904 (ITAT-MUMBAI)
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Rule 17A nowhere envisages the existence of a trust deed or its registration, the factum of existence of trust can also be established by producing documents evidencing the creation of the trust.
The Panchkuva Cloth Merchant Association Vs The CIT
(2021) TaxCorp(LJ) 27903 (ITAT-AHMEDABAD) · Section 12AA
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There is no infirmity with the CIT(A)’s order, and thus, assessee’s grounds of appeal is dismissed.
Avtar Krishen Jalla Vs ITO
(2021) TaxCorp(LJ) 27902 (ITAT-DELHI) · Section 54
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No doubt, it is the duty of the assessee to intimate a change in address, but that does not give power to appellate authority to dismiss appeal of assessee for non-prosecution.
Kimiyoshi Muto Vs DCIT
(2021) TaxCorp(LJ) 27901 (ITAT-DELHI)
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CIT(E) erred in denying the approval u/s 80G applied by the assessee in Form 10G since the assessee is carrying out activities both religious and charitable in nature and expenditure of religious nature during the year have not exceeded 5% of the total receipts, assessee should be granted necessary approval u/s 80G.
SHRI SHRIDHAR GYAN PRASAR PARMARTHIK TRUST RAJGAD VERSUS CIT- (EXEMPTION) BHOPAL
(2021) TaxCorp(LJ) 27856 (ITAT-INDORE) · https://taxcorp.in/FileOpenDT.aspx?ID=94274&Category=ITAT&CategoryType=Zip
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