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The revenue authorities cannot become a stifling force and a stumbling block for trade and commerce. They should realize and be sensitive to the fact that by their acts and omissions, they are impeding the growth of trade and commerce. They are filing the very hen that lays the golden egg. They cannot take a fool hardy and short sighted approach by withholding refunds where due.
Ericsson India Private Limited Vs Additional Commissioner of Income Tax
(2020) TaxCorp(LJ) 21221 (HC-DELHI)
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On occasions where client codes for institutional trades were not modified by the broker, the trades were treated as squared off trades and a lower STT was levied. This resulted in the exchange charging a lower STT from the member broker while the member broker collected a higher delivery based STT from the client.
Pr.Commissioner of Income Tax-7 Vs National Stock Exchange
(2020) TaxCorp(LJ) 21220 (HC-BOMBAY)
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As obvious that vice president manufacturing was having sufficient knowledge and experience of the technology and its standards used by the assessee in US. The Vice President was not an ordinary engineer but was having sufficient experience, exposure and knowledge about the technology of the assessee and was also having expertise to ensure the implementation of the standards of the assessee in India.
GENERAL MOTORS OVERSEAS CORPORATION VERSUS ASSTT. COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION) - 3 (1). MUMBAI, DY. DIRECTOR OF INCOME TAX (INTERNATIOAL TAXATION) - 3 (1).
(2020) TaxCorp(LJ) 21219 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=82301&Category=ITAT&CategoryType=Zip
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For land to be excluded from capital asset, it has to be agricultural land in India; such land to be not agricultural must fulfill two conditions viz. it must be land situated in any area which is comprised within the jurisdiction of a municipality or cantonment board and which has a population of not less than 10,000. These two conditions are pre-conditions and must be read conjunctively.
PR. COMMISSIONER OF INCOME TAX-3, THANE VERSUS ANTHONY JOHN PEREIRA
(2020) TaxCorp(LJ) 21218 (HC-BOMBAY) · https://taxcorp.in/FileOpenDT.aspx?ID=82625&Category=Judgment&CategoryType=Zip
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Assessing Officer himself had recorded in the assessment order that the petitioner had redeemed the SARs during the financial year 1997-98 relating to the assessment year 1998-99 which is prior to insertion of clause (iiia) to Section 17(2) of the Act w.e.f 1.4.2000.
SUMIT BHATTACHARYA VERSUS ASST. COMMISSIONER OF INCOME TAX CIRCLE 16 (1)
(2020) TaxCorp(LJ) 21217 (HC-BOMBAY) · https://taxcorp.in/FileOpenDT.aspx?ID=82626&Category=Judgment&CategoryType=Zip
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View taken by the CIT(A) that 17.5% of the purchases be added to the total income of the assessee as the profit element was a reasonable one. It was also noted that the said percentage was accepted by the assessee with a view to close the litigation. Nothing was brought on record by the Revenue to contradict the findings recorded by the CIT(A).
PR. COMMISSIONER OF INCOME TAX-15, MUMBAI. VERSUS JAKHARIA FABRIC PVT. LTD.
(2020) TaxCorp(LJ) 21216 (HC-BOMBAY) · https://taxcorp.in/FileOpenDT.aspx?ID=82627&Category=Judgment&CategoryType=Zip
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Addition cannot be made under Section 41(1) of the Act, since the liability of the assessee Bank to pay back the amounts to the customers in respect of such stale Demand Drafts and Pay Orders does not cease in law.
THE COMMISSIONER OF INCOME TAX-II TRICHIRAPALLI. VERSUS M/S. CITY UNION BANK LIMITED
(2020) TaxCorp(LJ) 21215 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=82628&Category=Judgment&CategoryType=Zip
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On the issue whether communication dated 22.03.2018 was in the nature of determination of the liability, both the learned counsel were heard at considerable length, at the end of which it was agreed by Mr. Zoheb Hossain, learned Advocate for the Department, that the communication dated 22.03.2018 could be treated as a show cause notice and the Department be permitted to conclude the issue within a reasonable time, provided the interim order passed by the Single Judge of the High Court on 03.04.2018 was continued.
COGNIZANT TECHNOLOGY SOLUTIONS INDIA PVT. LIMITED VERSUS DEPUTY COMMISSIONER OF INCOME TAX LARGE TAX PAYER -UNIT -1
(2020) TaxCorp(LJ) 21214 (SC) · https://taxcorp.in/FileOpenDT.aspx?ID=82629&Category=Judgment&CategoryType=Zip
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A genuine arrangement cannot be disregarded as the same results or operates to minimize the assessee's tax liability.
Md. Hussain Habib Pathan Vs ACIT
(2020) TaxCorp(LJ) 21213 (ITAT-MUMBAI)
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There is no specification for any technical expertise which the assessee company has sought from M/s. Korea Search. From all the angles the agreement shows that M/s Korea Search have no permanent establishment in India is working only as a placement services having data base of various persons who want job.
D&H Secheron Electrodes Pvt. Ltd Vs ITO
(2020) TaxCorp(LJ) 21212 (ITAT-INDORE)
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The assessee had redeemed the SAR's prior to insertion of clause (iiia) to Sec.17(2). The said amount, therefore, could not have been treated as a perquisite to be included as income under the head salaries.
Sumit Bhattacharya Vs Asst. Commissioner of Income Tax
(2020) TaxCorp(LJ) 21211 (HC-BOMBAY)
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The facts of the case are same as in assessment year 2010-11, respectfully following the order of the ld. CIT(A)-36 for assessment year 2010-11, it is held that the assessee cannot be said to be involved in carrying on any business, trade or commerce and the Assessing Officer is directed to allow the benefit of section 11 with consequential benefits.
ITO (E), TRUST WARD 1 (1), DELHI VERSUS M/S ASSOCIATION OF CORPORATION AND APEX SOCIETIES OF HANDLOOMS
(2020) TaxCorp(LJ) 21210 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=82285&Category=ITAT&CategoryType=Zip
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In the instant case, the provisions of chapter X have been invoked to alter an expenditure, namely the mobilisation and demobilisation charges paid for a qualifying ship, an item which has no bearing on the income as computed under Chapter XIIG and accordingly the provisions of Chapter X have no application in computing the income of the assessee chargeable to tax as per Chapter XII-G of the Act.
ESSAR SHIPPING LTD. VERSUS A.C.I.T. -5 (1) (2), MUMBAI.
(2020) TaxCorp(LJ) 21209 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=82287&Category=ITAT&CategoryType=Zip
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No return of income has been filed by OAS for the relevant assessment year. However, there are credits in the bank account that are liable to be explained by the entity for the purposes of determination of taxability.
M/S. OASYS GREEN TECH PRIVATE LIMITED VERSUS INCOME TAX OFFICER, CORPORATE WARD – 5 (1), CHENNAI
(2020) TaxCorp(LJ) 21208 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=82615&Category=Judgment&CategoryType=Zip
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Admitted position is that there is no shortfall as on date as confirmed by the officer, even though there was a shortfall, according to the Department, as on date of application before the SC. On an overall consideration of the matter, this is not a case where the assessee has consciously short-paid admitted tax. There are computational differences that exist that could well be the reason for the remittances falling short of the required amounts.
KRISHNA VENKATA RAMANA SHETTY VERSUS INCOME TAX SETTLEMENT COMMISSIONER ADDITIONAL BENCH, CHENNAI, DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 1 (1), CHENNAI
(2020) TaxCorp(LJ) 21207 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=82616&Category=Judgment&CategoryType=Zip
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From the various pronouncements, the principle discernible is that, it is the bounden duty of the court to ascertain for what purpose the legal fiction has been created. It is also the duty of the Court to imagine the fiction with all real consequences and instances unless prohibited from doing so. That apart, the use of the term deemed has to be read in its context and further the fullest logical purpose and import are to be understood. It is because in modern legislation, the term deemed has been used for manifold purposes.
THE COMMISSIONER OF INCOME TAX (EXEMPTIONS) VERSUS ADDOR FOUNDATION
(2020) TaxCorp(LJ) 21206 (HC-GUJARAT) · https://taxcorp.in/FileOpenDT.aspx?ID=82617&Category=Judgment&CategoryType=Zip
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Procedure followed by the revenue in time barring assessments is that while the order may not be uploaded immediately, a DIN number is generated and the order of assessment sent manually. In the present case, the DIN number appears to have been issued on 28.12.2019 and the assessment order in hard copy issued on the same date franked by the post office on 30.12.2019 and served upon the assessee on 02.01.2020, (though returned) with the endorsement 'left'.
INDO LLOYD FREIGHT SYSTEMS PVT. LTD. VERSUS INCOME TAX OFFICER, CORPORATE WARD 2 (4), CHENNAI
(2020) TaxCorp(LJ) 21205 (HC-MADRAS)
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ITAT - The fact that the assessee made a request for reasons recorded prior to filing the return of income and thereafter did not seek a copy of reasons recorded is no ground to deny the assessee the benefit of looking into the reasons for initiating reassessment proceedings u/s. 147.
M/s Hotel Woodside Vs The ACIT
(2020) TaxCorp(LJ) 21204 (ITAT-BANGALORE)
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Any income generated by the assessee from events like Garba is utilised fully for the purposes of the objects of the assesse. The activities like organizing the event of Garba including the sale of tickets and issue of passes etc. cannot be termed as business.
THE COMMISSIONER OF INCOME TAX (EXEMPTIONS) Vs UNITED WAY OF BARODA
(2020) TaxCorp(LJ) 21203 (HC-GUJARAT) · Section 11
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As the charge over the property was created much prior to the issuance of notice under Rule 2 of Schedule II to the Act by Respondent No.4 (TRO), we find force in the submissions made on behalf of the Appellant., directs MIDC to issue 'no objection' certificate to the appellant.
Connectwell Industries Pvt. Ltd Vs Union of India
(2020) TaxCorp(LJ) 21202 (SC)
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