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Mere fact that the debenture redemption reserve is labeled as a reserve will not render it as a reserve and an amount which is retained by way of providing a known liability is not a reserve within the meaning of explanation (b) of section 115JA of the Act.
ASSISTANT COMMISSIONER OF INCOMETAX, CIRCLE-2 (1) , KOLKATA. VERSUS M/S. INDIA POWER CORPORATION LTD. AND (VICE-VERSA)
(2021) TaxCorp(LJ) 27026 (ITAT-KOLKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=91290&Category=ITAT&CategoryType=Zip
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Where the PF and ESI dues are paid after the due date under the respective statues but before filing of the return of income under section 139(1), the same cannot be disallowed under section 43B read with section 36(1)(va) of the Act.
MOHANGARH ENGINEERS AND CONSTRUCTION COMPANY VERSUS THE DCIT, CPC, BANGALORE AND PALI URBAN COOPERATIVE BANK LTD., U AND T TRACTOR SPARES PRIVATE LIMITED VERSUS THE ACIT, CPC, BANGALORE
(2021) TaxCorp(LJ) 27023 (ITAT-JODHPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=91272&Category=ITAT&CategoryType=Zip
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Order passed to withdraw the relief granted u/s 14A earlier is bereft of jurisdiction.
UNION BANK OF INDIA VERSUS DCIT, LTU (2) MUMBAI
(2021) TaxCorp(LJ) 27022 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=91275&Category=ITAT&CategoryType=Zip
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Reopening of the assessment was after years and there was no tangible material to establish that the assessee failed to disclose fully and truly all materials, which are required for the assessment at the first instance.
COMMISSIONER OF INCOME TAX, COIMBATORE. VERSUS MR. JOHN ETTIMOOTIL SAMUEL
(2021) TaxCorp(LJ) 27021 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=85370&Category=Judgment&CategoryType=Zip
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The Tribunal was right in confirming the order passed by the CIT(A).
THE COMMISSIONER OF INCOME TAX, CIRCLE-XV, CHENNAI VERSUS M/S. JANNANI HOLDINGS
(2021) TaxCorp(LJ) 27020 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=85371&Category=Judgment&CategoryType=Zip
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E-Proceeding does not foreclose the conduct of a physical hearing, but has circumscribed four conditions, on which, such hearing shall be conducted manually.
THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 1 (1) , SALEM VERSUS SALEM SREE RAMAVILAS CHIT COMPANY PRIVATE LIMITED
(2021) TaxCorp(LJ) 27019 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=85372&Category=Judgment&CategoryType=Zip
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The Assessing Officer in the present case has established that he has reason to believe for reopening of assessment and there is no infirmity, as such, in reopening of the assessment u/s 147/148.
M/S. COGNIZANT TECHNOLOGY SOLUTIONS INDIA PRIVATE LIMITED VERSUS ASSISTANT COMMISSIONER OF INCOME TAX, JOINT COMMISSIONER OF INCOME TAX
(2021) TaxCorp(LJ) 27018 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=85373&Category=Judgment&CategoryType=Zip
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When charitable objects to be undertaken by the assessee trust are not in dispute, assessee company cannot be expected to start its charitable activities within a period of about 2 months
FEDERATION OF DEMOCRATIC VOICE VERSUS CIT (EXEMPTION), LUCKNOW.
(2021) TaxCorp(LJ) 27017 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=91261&Category=ITAT&CategoryType=Zip
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Amounts which are recoverable from the employees under different items would certainly fall within the ambit of the debt.
SPORTS & LEISURE APPAREL LTD. VERSUS DCIT, CIRCLE-24 (1), NEW DELHI.
(2021) TaxCorp(LJ) 27016 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=91263&Category=ITAT&CategoryType=Zip
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The asseessee was not bound to deduct tax at source for payment made to individual contractors for the assessment year in question.
SUDARSANAN P.S., VERSUS COMMISSIONER OF INCOME TAX, KOTTAYAM
(2021) TaxCorp(LJ) 27015 (HC-KERALA) · https://taxcorp.in/FileOpenDT.aspx?ID=85363&Category=Judgment&CategoryType=Zip
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The restriction of 8 years for carry forward and set off of unabsorbed depreciation had been dispensed.
THE COMMISSIONER OF INCOME TAX, CHENNAI. VERSUS M/S. BEST & CROMPTON ENGINEERING LTD.
(2021) TaxCorp(LJ) 27014 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=85366&Category=Judgment&CategoryType=Zip
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General observations are not sufficient to hold an assessment order erroneous and prejudicial to the interests of the Revenue.
THE COMMISSIONER OF INCOME TAX, CHENNAI. VERSUS M/S. ACCEL LIMITED
(2021) TaxCorp(LJ) 27013 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=85367&Category=Judgment&CategoryType=Zip
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Assessing Officer is directed to delete the addition made being the deficit and unexplained capital contribution.
M/S. ARGENT CONSTRUCTION VERSUS DY. COMMISSIONER OF INCOME TAX CENTRAL CIRCLE–4 (1), MUMBAI
(2021) TaxCorp(LJ) 27005 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=91200&Category=ITAT&CategoryType=Zip
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The Assessing Officer has no technical qualification whatsoever in commenting upon the technological preparation of the assessee in delivering output.
ACIT-3 (1) (2) /DCIT- 14 (1) (2) MUMBAI VERSUS M/S. EXPERIAN CREDIT INFORMATION COMPANY PVT. LTD.
(2021) TaxCorp(LJ) 27004 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=91203&Category=ITAT&CategoryType=Zip
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There is absolutely no dispute that assessee is only an accommodation entry provider and that all the entries reflected in the books are merely accommodation entries and not real transactions of the assessee.
M/S. AVANCE TECHNOLOGIES LIMITED VERSUS DCIT, CENTRAL CIRCLE-2 (2), MUMBAI
(2021) TaxCorp(LJ) 27003 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=91205&Category=ITAT&CategoryType=Zip
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If substantial new material is found in the form of information on the basis of which the assessing authority can form a belief that the income of the petitioner has escaped assessment, it is always open for the assessing authority to reopen the assessment.
ANDERSON BIOMED PRIVATE LIMITED VERSUS THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 1 (1) (1)
(2021) TaxCorp(LJ) 27002 (HC-GUJARAT) · https://taxcorp.in/FileOpenDT.aspx?ID=85339&Category=Judgment&CategoryType=Zip
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Provisions of section 50C operates where the consideration received or accrues as a result of transfer of a capital asset being land or building or both.
STALWART IMPEX PVT. LTD. VERSUS INCOME TAX OFFICER 15 (3) (4), MUMBAI
(2021) TaxCorp(LJ) 26999 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=91150&Category=ITAT&CategoryType=Zip
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Assessing officer is directed to delete the disallowance of the set off of the business loss.
OBEROI MOTORS VERSUS ACIT, CENTRAL CIRCLE KARNAL
(2021) TaxCorp(LJ) 26998 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=91153&Category=ITAT&CategoryType=Zip
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If all payments to credit card was made through bank, then such expenses shall not be treated as unexplained income of the assessee and, no addition shall be made under section 69.
PRASANNA KUMAR NANDA VERSUS ITO, WARD-3 (4) BHUBANESWAR
(2021) TaxCorp(LJ) 26997 (ITAT-CUTTACK) · https://taxcorp.in/FileOpenDT.aspx?ID=91157&Category=ITAT&CategoryType=Zip
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Payment of tax is mandatory but the requirement of paying such tax before filing appeal is only directory and where the defect in the appeal, being the non-payment of such tax, is removed, the earlier defective appeal becomes valid.
M/S JHUNJHUNU BALAJI MOTORS PVT. LTD. VERSUS ACIT, CIRCLE, JHUNJHUNU
(2021) TaxCorp(LJ) 26996 (ITAT-JAIPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=91162&Category=ITAT&CategoryType=Zip
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