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The directions of the co-ordinate bench was limited to grant of registration and cannot be construed otherwise especially where the statue requires that condonation application has to be specifically disposed-off stating clearly the reasons for either condoning the delay or rejecting the application.
Urban Improvement Trust Vs The CIT
(2020) TaxCorp(LJ) 22544 (ITAT-JAIPUR) · Section 12AA
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It is evident that the AO had initiated the penalty duly applying his mind for the addition of undisclosed profits u/s 271(1)(c) of the Act and subsequently issued show cause notice for levying penalty u/s 271AAA of the Act pending finalization of penalty u/s 271(1)(c) which is incorrect action.
T.Saimatha Vs Asst.Commissioner of Income Tax
(2020) TaxCorp(LJ) 22543 (ITAT-VISAKHAPATNAM) · Sections 271AAA, 271(1)(c)
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Where the assessee-bank has relied on the declaration so furnished by the customer, there is no malafide which is reflected in the action of the assessee in not deducting the TDS and the assessee cannot be fastened with the penalty u/s 271C.
Union Bank of India Vs Addl. Commissioner of Income Tax (TDS)
(2020) TaxCorp(LJ) 22542 (ITAT-JAIPUR) · Section 271C
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Where the source of time deposit has been declared by the assessee as sale of the property and where transaction relating to capital gains has been offered in the return of income and ultimately, brought to tax by the AO, the latter is well within his jurisdiction to assess such capital gains as the same has been suo-moto offered to tax by the assessee in the return of income filed in pursuance to notice u/s 148.
Shri Vijay Kumar Vs The ITO
(2020) TaxCorp(LJ) 22541 (ITAT-JAIPUR)
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Since no satisfactory explanation has been offered by the assessee about the nature and source of payment of cash, the value of the investment is deemed to be the income of the assessment of the relevant F.Y. and accordingly, the same was added to the hands of the assessee.
RAMESHWAR LAL, C/O V.N. PUROHIT & CO, CAS VERSUS DCIT, CIRCLE 71 (1) , NEW DELHI
(2020) TaxCorp(LJ) 22540 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=83362&Category=ITAT&CategoryType=Zip
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According to the provisions of section 253 (6) of the act, appeal to the appellate tribunal shall be filed in the prescribed form and shall be verified in the prescribed manner. According to rule 47 (1) of The Income Tax Rules 1962, the appeal shall be signed by the persons specified in sub rule 3 of rule 45.
SOUTH STAFFORDSHIRE PLC VERSUS DCIT (INTERNATIONAL TAXATION) , CIRCLE-3 (1) (2) , NEW DELHI
(2020) TaxCorp(LJ) 22539 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=83365&Category=ITAT&CategoryType=Zip
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From the reasons recorded, we find that the AO had no clarity as to what he considers as income escaped assessment whether the commission on the entries provided or the total amount of entries - while calculating the assessment proceedings, AO made addition of the entries which he himself has accepted that these entries have been provided to other companies as accommodation entries. In that case, there is an inbuilt contradiction in the action of the Assessing Officer while concluding the assessment proceeding.
M/S HOMEWAY MARKETING PVT. LTD., M/S HOPEWITH ADMARK & CONSULTANCY SERVICES PVT. LTD., VERSUS INCOME TAX OFFICER, WARD-12 (4) , NEW DELHI
(2020) TaxCorp(LJ) 22538 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=83369&Category=ITAT&CategoryType=Zip
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The Supreme Court in ASSAM TEXT BOOK PRODUCTION AND PUBLICATION CORPORATION LTD. has interpreted the definition of an educational institution and it is evident that all State controlled educational committees / boards that have been constituted to implement the educational policy of the States have to be treated as educational institutions.
THE DIRECTOR OF INCOME-TAX EXEMPTIONS, BANGALORE., THE ASSISTANT DIRECTOR OF INCOME-TAX (EXEMPTIONS) CIRCLE – 17 (1) BANGALORE. VERSUS KARNATAKA TEXT BOOK SOCIETY
(2020) TaxCorp(LJ) 22537 (HC-KARNATKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=82924&Category=Judgment&CategoryType=Zip
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When the provisions contained in Sec. 40 (a) (iib) is clear in its terms that it will take in only fee or charges' enumerated therein or any fee or charge by whatever name called, it is clear that any levy of tax is outside the ambit and scope of the said provision.
Kerala State Beverages(Manufactoring And Marketing)Corporation Limited Vs ACIT
(2020) TaxCorp(LJ) 22536 (HC-KERALA) · Section 40(a)(iib)
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While exercising plenary powers bestowed under Article 142 of the Constitution to do complete justice, the court should bear in mind the legislative intent and should not render the provision otiose.
Assistant Commissioner (CT) Vs M/s. Glaxo Smith Kline Consumer Health Care Limited
(2020) TaxCorp(LJ) 22535 (SC)
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The requirement under Sec.68 is that the assessee would be required to explain the source of credit in the books of accounts but not the source of the source i.e. source of the creditor.
Kesharwani Sheetalaya Sahsaon Allahabad Vs Commissioner of Income Tax
(2020) TaxCorp(LJ) 22534 (HC-ALLAHABAD) · Section 68
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The obligation to deduct Tax at Source under Section 194E of the Act is not affected by the DTAA and in case the exigibility to tax is disputed by the assesse on whose account the deduction is made, the benefit of DTAA can be pleaded and if the case is made out, the amount in question will always be refunded with interest.
PILCOM Vs C.I.T. WEST BENGAL-VII
(2020) TaxCorp(LJ) 22533 (SC) · Section 194E
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If the return itself is under probe and scrutiny, such return cannot be the foundation to sustain a claim for refund till such scrutiny is not complete.
VODAFONE IDEA LTD. Vs ASSISTANT COMMISSIONER OF INCOME TAX
(2020) TaxCorp(LJ) 22532 (SC) · Section 143(1D)
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Assessee in his averments has made out a clear case that there was sufficient cause which being beyond the control of the assessee, prevented him from filing the appeals in time before the Tribunal. The assessee was diligent and has sought advice from his counsel from time to time and was not guilty of negligence on his part and it cannot be said that the delay was due to the negligence and inaction on the part of the assessee, which could have been avoided by the assessee if he had exercised due care and attention.
SHRI LAXMAN NAINANI M/S NAINANI MEDICO VERSUS THE DCIT, CENTRAL CRICLE-3, JAIPUR.
(2020) TaxCorp(LJ) 22531 (ITAT-JAIPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=83339&Category=ITAT&CategoryType=Zip
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Where there is no basis for levy of interest u/s 234D and such levy is ultimately held to be not valid in the present case, the amount paid by the assessee will go to offset the outstanding tax and interest demand except interest u/s 234D and only on the remaining outstanding demand, the interest u/s 220(2) shall be levied.
M/S RAMA HANDICRAFTS VERSUS DCIT, CIRCLE-04 JAIPUR
(2020) TaxCorp(LJ) 22530 (ITAT-JAIPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=83340&Category=ITAT&CategoryType=Zip
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Clause (i) to section 201(3) of the Act specifies that no order shall be made under sub-section (1) of section 203 of the Act deeming a period to be an assessee in default for failure to deduct the whole or any part of the tax from a resident in India, at any time after the expiry of two years from the end of the financial year in which the statement is filed in a case where the statement referred to in section 200 has been filed. Here, the assessee has not deducted TDS under section 194H of the Act and thus, the question of filing of quarterly statement as required under section 200 of the Act by the assessee do not arise and therefore, we held that the assessee is not covered by the provisions of section 201(3)(i) of the Act.
THE ASSISTANT COMMISSIONER OF INCOME TAX, TDS CIRCLE – 3, CHENNAI. VERSUS M/S. VODAFONE SOUTH LTD., (NOW KNOWN AS VODAFONE MOBILE SERVICES LTD.) AND (VICE-VERSA)
(2020) TaxCorp(LJ) 22529 (ITAT-CHENNAI) · https://taxcorp.in/FileOpenDT.aspx?ID=83345&Category=ITAT&CategoryType=Zip
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If there is income element in the documents seized form the possession of the assessee, then there was no requirement of bringing any corroborative material on record. However, there has to be existence of income in the documents seized. If the documents seized does not show any income earned by the assessee, then ld AO cannot rest on provision of section 292C without bringing any corroborative material on record.
SUMMIT MITTAL, MADHUR MITTAL VERSUS DCIT, CENTRAL CIRCLE-22, NEW DELHI
(2020) TaxCorp(LJ) 22528 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=83346&Category=ITAT&CategoryType=Zip
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In the impugned communications dated 14.12.2015 and 28.11.2016, the respondent has not denied that the petitioner had truly and fully disclosed all the materials that were required for completing the assessments.e assessment.
M/S. INTERNATIONAL FLAVOURS AND FRAGRANCES INDIA PRIVATE LIMITED, VERSUS THE DEPUTY COMMISSIONER OF INCOME-TAX, LARGE TAXPAYER UNIT – II
(2020) TaxCorp(LJ) 22527 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=82919&Category=Judgment&CategoryType=Zip
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From the reading of letter dated 01.01.2011 of the said MD IN Services Private Limited UK, the non-resident overseas company indicates that the service provided by them to the petitioner was in the nature of consultancy services. Payments made by the petitioner to the said UK company would be an income deemed to accrue/arise in India within the meaning of Section 9(1)(vii)(b) of the Income Tax Act, 1961.
M/S. SHRIRAM CAPITAL LIMITED VERSUS THE DIRECTOR OF INCOME TAX, (INTERNATIONAL TAXATION) , CHENNAI AND THE INCOME TAX OFFICER, INTERNATIONAL TAXATION – I (2) , CHENNAI
(2020) TaxCorp(LJ) 22526 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=82920&Category=Judgment&CategoryType=Zip
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To qualify as a business loss it is necessary that such loss should have been incurred during the year, since the unit was sold and closed since long back. The loss does not qualify even otherwise as allowable business loss during the year as assessee did not prove that such loss has been incurred during the year.
National Research Development Corporation Vs DCIT
(2020) TaxCorp(LJ) 22525 (ITAT-DELHI)
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