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Job workers in their statement recorded under section 131(1) have confirmed that they provided services of job work, received charges based on competitive market rate and offered the same for the taxation. CIT (A) further given the finding that the there was no evidence brought by the Revenue suggesting that the amount paid to the job worker returned to the assessee in any manner.
DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 (1) , RAJKOT VERSUS M/S TIRTH AGRO TECHNOLOGY PVT. LTD.
(2020) TaxCorp(LJ) 22896 (ITAT-RAJKOT) · https://taxcorp.in/FileOpenDT.aspx?ID=84033&Category=ITAT&CategoryType=Zip
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Assessee is eligible for exemption under Section 11 and 12 of the Act and the activities of the assessee are not hit by proviso to Section 2(15) of the Act.
THE ASSISTANT COMMISSIONER OF INCOME TAX (EXEMPTION) CIRCLE : 2 (1) , NEW DELHI. VERSUS NEW DELHI YOUNG MEN’S CHRISTIAN ASSOCIATION
(2020) TaxCorp(LJ) 22895 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=84034&Category=ITAT&CategoryType=Zip
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It is apparent that outstanding receivable from the above party debited by admass Builders to the account of the assessee towards various charges. The gross sale price of the above project has already been offered for taxation in the earlier year.
SUPREME BUILD CAP PRIVATE LIMITED VERSUS ACIT, CENTRAL CIRCLE-05, NEW DELHI
(2020) TaxCorp(LJ) 22894 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=84035&Category=ITAT&CategoryType=Zip
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On receipt of reply alongwith 34 documents from M/s. Utkal Export, neither the AO or the CIT(A) show caused the assessee by way of written notice or note sheet entry and proceeded to make addition u/s.69A by treating the impugned amount of three bills and processing charges paid to the assessee in cash. This act of the revenue authorities is clearly contrary to the principles of natural justice as on receipt of reply from M/s. Utkal Export before making addition, the assessee should have been show caused informing him regarding reply received from M/s. Utkal Export and asking the assessee to reconcile the same.
ODISHA AQUA TRADERS & MARINE EXPORTERS PVT LTD. VERSUS ACIT, CORPORATE CIRCLE-1 (2) , BHUBANESWAR.
(2020) TaxCorp(LJ) 22893 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=84038&Category=ITAT&CategoryType=Zip
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The AMP expenditure incurred by the assessee in India cannot come within the purview of the international transaction. Hence, the Transfer Pricing Officer has no jurisdiction to determine the arm's length price of AMP expenditure.
JT. COMMISSIONER OF INCOME TAX CIRCLE–14 (1) (2) , MUMBAI VERSUS GENERAL MILLS INDIA PVT. LTD.
(2020) TaxCorp(LJ) 22892 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=84040&Category=ITAT&CategoryType=Zip
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Rental income offered by the assessee in the sum of ₹ 57,500/- was only in respect of 100 sq.ft of premises let out for five months. Hence, the corresponding flat deduction @30% towards repairs under the head income from house property was also given only for a period of five months. No deduction for the remaining 7 months has been given, in terms of the provisions of Section 38(2) of the Act. We find that assessee is entitled for proportionate deduction for the remaining period of seven months of these repairs and maintenance in respect of 100 Sq.ft of property.
M/S. WILHELMSEN SHIP MANAGEMENT INDIA PVT. LTD. VERSUS THE DEPUTY CIT 8 (3) , MUMBAI
(2020) TaxCorp(LJ) 22891 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=84042&Category=ITAT&CategoryType=Zip
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Purpose of issue of notice is to make the noticee aware of the nature of the proceedings. Once the nature of the proceedings is made known and understood by the assessee, he should not be allowed to take advantage of certain procedural defects. That was the purpose behind the enactment of Section 292BB.
SAVITA KAPILA, LEGAL HEIR OF LATE SHRI MOHINDER PAUL KAPILA VERSUS ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 43 (1) DELHI
(2020) TaxCorp(LJ) 22890 (HC-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=83102&Category=Judgment&CategoryType=Zip
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Assessment has been framed by the AO under section 143(3) of the Act, without obtaining the valid approval from the joint Commissioner of income tax. Accordingly, such assessment is not valid under the provisions of law. In holding so we draw support and guidance from the judgment of Hon'ble jurisdictional High Court in case of CIT vs. Sunrise Finlease. Revenue has not brought anything on record contrary to the arguments advanced by the learned AR for the assessee.
M/S OM KIRTI CONSTRUCTION PVT. LTD. VERSUS THE ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, RAJKOT
(2020) TaxCorp(LJ) 22889 (ITAT-RAJKOT) · https://taxcorp.in/FileOpenDT.aspx?ID=84014&Category=ITAT&CategoryType=Zip
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In the hands of the firm, the firm has not accepted the ITAT's decision and has contested in appeal before the Hon'ble High Court of Madras which is pending now . In such facts and circumstances, the Ld CIT(A) 's decision since the issue under consideration has not reached finality in the apex court, of the considered opinion that as of now, in view of the Hon'ble ITAT Chennai's decision of the confirmation of addition of ₹ 4.54 Crores.
ASSISTANT COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 6 (2) , CHENNAI. VERSUS SHRI. VELAYUTHAMSUNDARAMOORTHY, SHRI. T. PADMAKUMAR
(2020) TaxCorp(LJ) 22888 (ITAT-CHENNAI) · https://taxcorp.in/FileOpenDT.aspx?ID=84019&Category=ITAT&CategoryType=Zip
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Primary function of the assessee is to provide business process outsourcing services (BPO), consisting of inbound customer services, outbound collections, transaction processing, financing and accounting services, knowledge management of complex technologies, telemarketing and invoice processing thus companies functionally dissimilar with that of assessee need to be selected from final list.
M/S. TELEPERFORMENCE GLOBAL SERVICES PRIVATE LIMITED, (EARLIER KNOWN AS “INTEL GLOBAL SERVICES PRIVATE LIMITED”) VERSUS ACIT, CIRCLE 1 (2), MUMBAI
(2020) TaxCorp(LJ) 22887 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=84021&Category=ITAT&CategoryType=Zip
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In the instant case, there is no dispute that the assessee has sold the wind mills and claimed it as a separate undertaking. Separate undertaking is one which can be separated from the business unit and both the business units of the assessee should be run separately, independent of each and they should not be dependent on each other.
ASST. COMMISSIONER OF INCOME TAX CIRCLE-3 (1) VISAKHAPATNAM VERSUS M/S DEVI SEA FOODS LIMITED AND (VICE-VERSA)
(2020) TaxCorp(LJ) 22886 (ITAT-VISAKHAPATNAM) · https://taxcorp.in/FileOpenDT.aspx?ID=84022&Category=ITAT&CategoryType=Zip
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Scrap sold by the railway was certainly not usable due to its breakage or wear and tear and it was also subjected to TCS for which the assessee has not raised any objection. Once the assessee has accepted the goods purchased from the railway as scrap and allowed the TCS then the resale of the same goods by the assessee will not part take a different character. In view of the undisputed fact that what was purchased by the assessee is scarp subjected to TCS then the resale of the same material is also be treated as scrap and there is no scope of re-classification of the these goods at the time of sale. No merits or substance in the contention of the assessee.
PRAMOD KUMAR JAIN VERSUS INCOME TAX OFFICER
(2020) TaxCorp(LJ) 22885 (ITAT-JAIPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=84024&Category=ITAT&CategoryType=Zip
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Issuance of notice upon a dead person and non-service of notice does not come under the ambit of mistake, defect or omission. Thus, Section 292B of the Act, 1961 does not apply to the present case.
SAVITA KAPILA, LEGAL HEIR OF LATE SHRI MOHINDER PAUL KAPILA Vs ASSISTANT COMMISSIONER OF INCOME TAX
(2020) TaxCorp(LJ) 22884 (HC-DELHI)
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Appeal filed by the revenue within currency of the sub-section 2A of Section 253 of the Act, is valid.
Firemenich Aromatics (India) Pvt Ltd Vs ACIT
(2020) TaxCorp(LJ) 22883 (ITAT-MUMBAI) · Section 253A
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Once our Hon'ble jurisdictional High Court has expressed a view, it cannot be open for us to be swayed by a contrary view expressed by any other Hon'ble High Court.
IMS AG Vs Dy Commissioner of Income Tax
(2020) TaxCorp(LJ) 22882 (ITAT-MUMBAI)
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In none of cases referred by learned counsel of the assessee the exposition is that when there is absolute finding of nonexistence of the share applicant the amount of share application money should be accepted as genuine.
Akansha Ispat Pvt. Ltd. Vs ITO
(2020) TaxCorp(LJ) 22881 (ITAT-MUMBAI) · Section 68
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The giving up of a right of specific performance by the assessee to get conveyance of immovable property in lieu of receiving consideration, results in the extinguishment of the right in property, thereby attracting the rigor of s. 2(14) r/w s. 2(47).
Shri Chandrashekar Naganagouda Patil Vs The Deputy Commissioner of Income Tax
(2020) TaxCorp(LJ) 22880 (ITAT-BANGALORE)
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In the very absence of the possession of the property in question having been delivered to the assessee by the builder/developer, there could have been no occasion for computing the ALV of the same within the meaning of Sec. 23.
Haresh Natvarlal Sanghavi Vs ACIT
(2020) TaxCorp(LJ) 22879 (ITAT-MUMBAI) · Section 23
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Once the AO has himself not suggested that the impugned sums have been in fact accrued or arisen to them department's impugned action adding the trust's balance in these two taxpayers' hands does not deserve to be concurred with.
Shri Manoj Kumar Dhupelia Vs Dy. Commissioner of Income Tax
(2020) TaxCorp(LJ) 22878 (ITAT-KOLKATA)
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Interest on saving bank account of the members is business income and cannot be termed as income from other sources as it has direct nexus of this income with the activity of business of providing credit facilities to its members who are banks.
The Bharat Co-Operative Thrift & Credit Society Ltd. ITO
(2020) TaxCorp(LJ) 22877 (ITAT-DELHI) · Section 80P
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