-
The object of Section 10(17A) is to reward an individual who has been recognized by the Centre or the State for rendition of services in public interest. While clause (i) is concerned with an award whether in cash or in kind, instituted in public interest by the Central or any State Government or instituted by any other body and approved by the Central Government in this behalf, clause (ii) refers to a reward by the Central or a State Government for such purposes as may be approved by the Central Government in this behalf in public interest.
K. VIJAYA KUMAR VERSUS THE PRINCIPAL COMMISSIONER OF INCOME TAX, CHENNAI.
(2020) TaxCorp(LJ) 21141 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=82496&Category=Judgment&CategoryType=Zip
-
Since, the service tax rules provides for payment of service tax on receipt basis, the assessee is allowed to deduct the quantity of the amount not received during the year in the computation of income.
Spar Krognos Marketing Pvt. Ltd Vs Income Tax Officer
(2020) TaxCorp(LJ) 21140 (ITAT-DELHI)
-
In view of the language employed by Parliament in sub-section (3) to Section 201 of the Act, the Assessing Officer cannot pass any order after expiry of two years before 01.10.2014.
M/s. L&T Thales Technology Services Private Ltd. Vs Deputy Commissioner of Income Tax, International Taxation -2(2)
(2020) TaxCorp(LJ) 21139 (ITAT-CHENNAI) · Section 201
-
Keeping in view totality of circumstances on the touch stone of preponderance of probabilities, the entire transaction for sale of gold jewellery is an afterthought and a sham transaction which is claimed by assessee as he was cornered by Revenue.
Shri A.N.Muthiah Vs The Income Tax Officer
(2020) TaxCorp(LJ) 21138 (ITAT-CHENNAI)
-
Assessee intends to avail the opportunity provided under The Direct Tax Vivad Se Vishwas Bill, 2020.
Prabir Mitra Vs Income Tax Officer
(2020) TaxCorp(LJ) 21137 (ITAT-KOLKATA)
-
Assessment on non-existing amalgamated entity void-ab-initio & unsustainable; Follows Maruti Suzuki SC-ruling
Siemens Limited, (Successor in Interest to Siemens VIA Metals Technologies Private Limited) Vs The ACIT
(2020) TaxCorp(LJ) 21136 (ITAT-MUMBAI)
-
A Commissioner is bound to consider whether the objects of the Trust are genuinely charitable in nature and whether the activities which the Trust proposed to carry on are genuine in the sense that they are in line with the objects of the Trust.
Ananda Social And Educational Trust Vs The Commissioner of Income Tax & Anr.
(2020) TaxCorp(LJ) 21135 (SC) · Section 12AA
-
The income brought to tax u/s. 41 by reversal of the entry with regard to the stock option given to the employees is also in the nature of export income.
California Software Co., Ltd Vs The Commissioner of Income Tax-I
(2020) TaxCorp(LJ) 21134 (HC-MADRAS) · Sections 10, 10B, 41
-
The assessee has certified that no new project was started or commissioned during the year for which above guarantee was paid, and the guarantee fees was in respect of loans for acquisition of capital assets, which were already put-to-use prior to 1.4.2007. The guarantee fees is directed to be allowed as revenue expenditure, subject to verification by the AO of the certificate filed during the appellate proceedings i.e. there was no capital work-in-progress in respect of loans on which guarantee fees was paid.
THE DY. CIT CIRCLE-1 (1) (1), VADODARA VERSUS GUJARAT ENERGY TRANSMISSION CORP. LTD.
(2020) TaxCorp(LJ) 21133 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=82107&Category=ITAT&CategoryType=Zip
-
When the redeemable preferential shares have been redeemed to the investor companies in subsequent years which is much prior to the search, therefore, these investments are genuine. We further find from the various pages of the paper book that in response to the notice issued u/s 133(6) to the investor companies, the directors of the respective investor companies appeared before the AO whose statements were recorded u/s 131 and they have confirmed to have invested in the shares of the assessee company.
NIMBUS (INDIA) LTD., C/O RRA TAXINDIA VERSUS DCIT, CENTRAL CIRCLE, NOIDA.
(2020) TaxCorp(LJ) 21132 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=82108&Category=ITAT&CategoryType=Zip
-
A plain reading of the order passed by the Dispute Resolution Panel shows that the issue in appeal is squarely covered by a decision of the coordinate bench, in assessee’s own case for the assessment year 2010-11 in favour of the assessee. The only reason, on account of which the DRP has declined relief to the assessee, is to keep the matter alive for the SLP, if any, before the Hon’ble Supreme Court. We, therefore, uphold the plea of the assessee and hold that the receipts in question cannot be treated as royalty.
IMG MEDIA LTD. VERSUS ASSISTANT COMMISSIONER OF INCOME TAX (IT) - 2 (2) (1) MUMBAI
(2020) TaxCorp(LJ) 21131 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=82109&Category=ITAT&CategoryType=Zip
-
The assessee had filed the return of income on 31/10/2013 for the A.Y. 2013-14 which is placed in paper book at page No. 41, therefore the Assessing Officer is not correct in rejecting the plea of the assessee on the ground that the assessee has not filed the return of income as per specified date.
ACIT, CENTRAL CIRCLE-1, RAJAHMUNDRY. VERSUS G.S.L. EDUCATIONAL SOCIETY AND (VICE-VERSA)
(2020) TaxCorp(LJ) 21130 (ITAT-VISAKHAPATNAM) · https://taxcorp.in/FileOpenDT.aspx?ID=82115&Category=ITAT&CategoryType=Zip
-
Penalty proceedings u/s 271(1)(c) were neither initiated by the AO during assessment proceedings nor by the Ld. CIT(A) during the appellate proceedings in respect of the aforesaid disallowance. CIT(A) has also not levied any penalty under Section 271(1)(c) of I.T. Act.
ADDITIONAL COMMISSIONER OF INCOME TAX, VERSUS M/S ONGC VIDESH LTD.
(2020) TaxCorp(LJ) 21129 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=82088&Category=ITAT&CategoryType=Zip
-
There is no material whatsoever to indicate, leave aside establish, that the Assessing Officer had examined the application of Section 56(2)(vii)(b) at all. Learned counsel’s plea that this provision to section 56(2)(vii)(b) comes into play, overlooks the fact that application of proviso is entirely a factual matter which has not been examined at all.
KIRTIDEVI S. TEJWANI VERSUS PRINCIPAL COMMISSIONER OF INCOME TAX-22 MUMBAI
(2020) TaxCorp(LJ) 21128 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=82090&Category=ITAT&CategoryType=Zip
-
The said that the investment shown by the appellant was understated and that anything above what was disclosed by the appellant. Thus, the condition precedent for making reference to the DVO by invoking the provisions of Sec. 142A was not satisfied in the present case. Moreover, on perusal of the assessment order, it is noted that nowhere the AO has mentioned that what are the mistakes and unreliability has been found out by the AO in the books of accounts of the appellant.
DCIT, CIRCLE 25 (1), NEW DELHI VERSUS SMT. USHA RANI TALLA, URVASHI TALLA
(2020) TaxCorp(LJ) 21127 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=82093&Category=ITAT&CategoryType=Zip
-
A.O, did not doubt the identity of the creditors and their creditworthiness. The A.O. merely doubted genuineness of the transaction because of the disproportionate income of the creditors as regards the loan advanced to the assessee. In case A.O. was having any doubt on any of the point, he could have summoned all the creditors and record their statements on oath under section 131 of the I.T. Act, 1961, to find-out the truth.
MEENU KAPOOR VERSUS THE ACIT, CIRCLE-47 (1), NEW DELHI.
(2020) TaxCorp(LJ) 21126 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=82094&Category=ITAT&CategoryType=Zip
-
Section 119 of the Income Tax Act, 1961 has been incorporated to grant waiver from payment of interest in case of genuine hardship. Therefore, the Central Board of Direct Taxes has given power to issue instructions and direction to be followed while granting waiver of interest. This power is either exercised by the Board and/or by senior officers of the Income Tax Department like the first respondent.
TVL. SANMAC MOTOR FINANCE LTD. VERSUS CHIEF COMMISSIONER OF INCOME TAX, ASSISTANT COMMISSIONER OF INCOME TAX
(2020) TaxCorp(LJ) 21125 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=82470&Category=Judgment&CategoryType=Zip
-
In the instant case the applicant was incorporated few days before the JV was formed and has no independent sources of funds or sources of income nor has any fiscal independence. All the funds are with the holding companies. The applicant has no tangible assets, business activities except for owning the shares of the JV.
IN RE: BID SERVICES DIVISION (MAURITIUS) LTD.,
(2020) TaxCorp(LJ) 21124 (HC-AAR) · https://taxcorp.in/FileOpenDT.aspx?ID=82471&Category=Judgment&CategoryType=Zip
-
The sole reliance upon the FIRC which is only a certificate of remittance from abroad in absence of the overwhelming surrounding circumstances by the learned CIT appeals not at all sustainable.
Shri Arun Madhvachari Rangachari Vs DCIT
(2020) TaxCorp(LJ) 21123 (ITAT-MUMBAI)
-
Converting raw coffee beans which are not fit for human consumption as such to liquid coffee which is fit for human consumption has to be considered as manufacturing activity, as it is an irreversible process producing different marketable product fit for human consumption.
Coffee Day Global Limited Vs The Deputy Commissioner of Income-tax
(2020) TaxCorp(LJ) 21122 (ITAT-BANGALORE)
Headnote lines are open to everyone. The full headnote and the judgment text open with a subscription — see plans or sign in.