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Since there is no specific provision in the DTAA as regards the computation of 'Book Profit' for the purpose of levy of MAT, the basic tax laws in force in the country (Sec.115JB) will get attracted.
IRCON International Limited Vs Dy. C.I.T.
(2020) TaxCorp(LJ) 20961 (ITAT-DELHI)
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Where any person, including the principal officer of a company,(a) who is required to deduct any sum in accordance with the provisions of this Act; or (b) referred to in sub-section (1A) of section 192, being an employer, does not deduct, or does not pay, or after so deducting fails to pay, the whole or any part of the tax, as required by or under this Act, then, such person, shall, be an assessee in default in respect of such tax. Any person who was required to deduct any sum in accordance with the provisions of Act did not deduct or did not pay the whole or part of the amount so deducted failed to pay, such person should be deemed to be assessee in default.
RSV Global Vs ITO
(2020) TaxCorp(LJ) 20960 (ITAT-INDORE) · Section 195
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What has also to be appreciated is that the provisional attachment is only an arrangement done to preserve the property until the authority completes the proceedings under the Act. The petitioner-assessee as well as the respondent No.5 also could appear before the authorities and put forward their defence and establish the fact that the property could not be termed as a benami property. Given the aforesaid facts and circumstances of the case, this Court does not find any strong case made out by the petitioner calling for an interference with the impugned order.
Laxmi Narayan Agrawal Vs Assistant Commissioner Of Income Tax
(2020) TaxCorp(LJ) 20959 (HC-CHHATTISGARH)
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A combined reading of the above provision of article 5(2)(l) read with related protocol clause clearly shows is that the service PE being triggered on account of rendition of services by a Swiss entity in India, or vice versa, can never make the assessee worse off so far as the tax liability in source jurisdiction is concerned. Unless the assessee has a lower tax liability on taxability of PE on net basis under article 7 vis-à-vis taxability of FTS on gross basis under article 12(2), the PE being triggered is in fact tax neutral. Nothing, therefore, turns in favour of the income tax department on account of service PE being triggered by the rendition of services.
AGT International GmbH Vs Deputy Commissioner of Income Tax (IT)
(2020) TaxCorp(LJ) 20958 (ITAT-MUMBAI)
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There are certain undisputed facts in this case i.e. the AO has not admittedly sent any notice issued u/s 148 to the registered office address of the assessee company either through registered post or speed post and further the AO has made no efforts to serve notice through Affixture at the above registered office address.
THE INCOME TAX OFFICER, WARD 2 (2), JAIPUR. VERSUS M/S. MAHLA REAL ESTATE PVT. LTD.
(2020) TaxCorp(LJ) 20957 (ITAT-JAIPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=81670&Category=ITAT&CategoryType=Zip
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As decided in own case AO is competent to compute the income of an assessee under a head of income, other than what was claimed by the assessee, of course, after marshalling the facts properly and furnishing proper reasons. Merely by computing the interest accrued as income of the assessee instead of non taxable as claimed,, the inter-se rights of the assessee under any other statutory framework does not get affected.
THE ITO-23 (1) (2) , MUMBAI VERSUS M/S. INDIAN CORPORATE LOAN SECURITIES TRUST 2008 SERIES 14 IL & FS FINANCIAL CENTRE, MUMBAI
(2020) TaxCorp(LJ) 20956 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=81672&Category=ITAT&CategoryType=Zip
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The amount which has been made liable to tax in the impugned order dated 29.12.2016 was subject matter of discussion with the respondent prior to passing of the impugned notice dated 31.03.2016 vide communications exchanged pursuant to letter dated 05.02.2014 seeking clarification from the petitioner.
MRS. HEMALATHA RAMAIAH VERSUS ASSISTANT COMMISSIONER OF INCOME TAX, NON CORPORATE CIRCLE 3, CHENNAI
(2020) TaxCorp(LJ) 20955 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=81992&Category=Judgment&CategoryType=Zip
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It cannot be said that there was no full and true disclosure at the end of the assessee of the material facts. In such circumstances, it could be said that there was no tangible material with the Assessing Officer for the purpose of reopening the assessment except the change of opinion that the deductions could not have been claimed and allowed under Sections 53(b) and 54(1)(i) of the Act.
ARUN MUNSHAW HUF VERSUS INCOME TAX OFFICER, WARD 7 (1)
(2020) TaxCorp(LJ) 20954 (HC-GUJARAT) · https://taxcorp.in/FileOpenDT.aspx?ID=81993&Category=Judgment&CategoryType=Zip
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Tribunal is vested with the power to rectify any mistake apparent from the record to amend any order passed by it under sub-section (1) of Section 254 at any time within six months from the end of the month in which the order was passed, provided the mistake is brought to its notice by the assessee or by the Assessing Officer.
THE PR. COMMISSIONER OF INCOME TAX-7 VERSUS INCOME TAX APPELLATE TRIBUNAL BENCH “B” AND ANR.
(2020) TaxCorp(LJ) 20953 (HC-BOMBAY) · https://taxcorp.in/FileOpenDT.aspx?ID=81994&Category=Judgment&CategoryType=Zip
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Following the amendment, it is now a statutory requirement that the Assessing Officer has to provide reasonable opportunity of hearing to the assessee before directing the assessee to get the accounts audited under the said provision. Reverting back to Sahara India Supreme Court held that special audit is more or less in the nature of an investigation and in some cases, may even turn out to be stigmatic.
PR. COMMISSIONER OF INCOME TAX-1 VERSUS VILSON PARTICLE BOARD INDUSTRIES LTD.
(2020) TaxCorp(LJ) 20952 (HC-BOMBAY) · https://taxcorp.in/FileOpenDT.aspx?ID=81996&Category=Judgment&CategoryType=Zip
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In the present case the petitioner has, no doubt obtained a PAN from the Assessing Officer at Madurai, wherein the dress of the assessee is stated to be in Madurai. However, no assessments have been completed by the officials at Madurai, till date. For AY 2012-2013 to 2015-2016 the petitioner has filed returns of income electronically, stipulating his jurisdictional officer as the Income tax officer, Shimoga, Karnataka.
ABDUL AZEEZ HAROON VERSUS THE DEPUTY COMMISSIONER OF INCOME TAX, INTERNATIONAL TAXATION, MADURAI.
(2020) TaxCorp(LJ) 20951 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=81987&Category=Judgment&CategoryType=Zip
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In the case of The Commissioner of Income Tax-II Vs. Lakshmi Machine Works Ltd., Coimbatore for purposes of according sanction to a scheme of amalgamation of a sick industrial undertaking with any other company under Section 18 of the said Act, the BIFR has to be satisfied that the amalgamating company is not financially viable, which is the effect of Section 3(o) of the said Act, and that the amalgamation is necessary or expedient in the public interest, which is the effect of Sections 17 and 18 of the said Act read together.
THE COMMISSIONER OF INCOME TAX-II COIMBATORE. VERSUS M/S. LAKSHMI MACHINE WORKS LTD.
(2020) TaxCorp(LJ) 20950 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=81989&Category=Judgment&CategoryType=Zip
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Agreement between the assessee and its customers is for providing hosting and other ancillary services to the customers and not for the use of leasing any equipment. The data centre and the infrastructure therein used to provide these serves belongs to the assessee. The customers are not having physical control or possession over the servers and right to operate and manage this infrastructure/servers vest solely with the assessee.
RACKSPACE VERSUS DCIT, (INTERNATIONAL TAXATION) -4 (1) (1), MUMBAI
(2020) TaxCorp(LJ) 20949 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=81635&Category=ITAT&CategoryType=Zip
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There is nothing contrary on record to show that the assessee has complied with the requirements of the learned Assessing Officer in the exercise of forming satisfaction as to the identity and the creditworthiness of the share applicants or the genuineness of the transaction.
M/S. PAR EXCELLENCE LEASING AND FINANCIAL SERVICES PVT. LTD. VERSUS ACIT, CENTRAL CIRCLE-21, NEW DELHI.
(2020) TaxCorp(LJ) 20948 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=81657&Category=ITAT&CategoryType=Zip
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In the order passed u/s 143(3) in the case of MGFD, the amount of ₹ 57 crores has been accepted by the AO as the share of revenue @ 60% of the hotel project at Jaipur. We, therefore, find merit in the submission of the ld. Counsel for the assessee that when the AO is not discarding the contribution of MGFD towards the completion of the project which is for the financing, implementation, providing brand name and other technical assistance for completion of the project.
ACIT, CENTRAL CIRCLE-7, NEW DELHI. VERSUS VISHNU APARTMENTS PVT. LTD., JAIPUR.
(2020) TaxCorp(LJ) 20947 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=81643&Category=ITAT&CategoryType=Zip
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There was no infirmity in such tax audit report as observed by the AO. As such the income declared by the assessee in its income tax return has been accepted without pointing any variation. Moreover the purpose of tax audit was to ensure that the information furnished by the assessee in the income tax return are correct so as to save the time of the income tax officer is in carrying out routine verifications of the purchases and sales and other details shown in the financial statements.
SHREENATHJI REALTY BANSI BUNGALOWS ATLADARA, VADODARA, NILKANTH DEVELOPERS VACHNAMRUT RESIDENCY ATLADARA, VADODARA VERSUS THE DY. CIT CIRCLE-1 (2) BARODA
(2020) TaxCorp(LJ) 20946 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=81648&Category=ITAT&CategoryType=Zip
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The jurisdictional HC had already dismissed employees' writ based on SC decision in Arun Kumar Vs Ors wherein such free or concessional supply of electricity was held to be perquisite. It is therefore not open for it to contend that the same is a perquisite on which tax is payable by the employees, saving it from being charged under FBT on the said benefit. That is, it cannot take refuge in its own default in pleading for a saving from another liability, so that one becomes an excuse for the other.
Madhya Pradesh Poorv Kshetra Vidyut Vitran Co. Ltd Vs ACIT
(2020) TaxCorp(LJ) 20945 (ITAT-JABALPUR)
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As decided in own case CIT(A) was justified in holding that the Assessing Officer has erred in categorizing DOC as scrap within the meaning of Explanation to Section 206C. Regarding the raw cotton being treated as scrap we find raw cotton is only a part of raw material which is of lower quality (lower count cotton) from which the thin yarn cannot be manufactured such thick quality cotton was separated at the initial warehousing stage and sold off to other yarn manufacturers including that for export.
DCIT, TDS CIRCLE AHMEDABAD. VERSUS M/S. GUJARAT AMBUJA EXPORT LTD.
(2020) TaxCorp(LJ) 20944 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=81614&Category=ITAT&CategoryType=Zip
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As earlier that the assessee has sold agricultural land located within the Municipal limits to a person named Sri Rajesh Runawal, for a consideration of ₹ 13.05 lakhs. However, since Shri Rajesh Runawal agreed before the ADIT(Inv.)Belgaum that the sale consideration was 34.60 lakhs, the assessee also declared the sale consideration at ₹ 34.60 lakhs, as noticed earlier.
SHRI LATE GURAPPA P GAWALI, REP. BY LEGAL HEIR GURAPPA PARASAPPA GAWALI VERSUS THE INCOME TAX OFFICER, WARD-1, BIJAPUR
(2020) TaxCorp(LJ) 20943 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=81615&Category=ITAT&CategoryType=Zip
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CIT(A) had rightly upheld the decision of the AO by holding that taking a corporate membership in a private club cannot be linked to the objects of the trust /society in any manner. The trust exists for some other purposes and gets benefits under the tax laws for genuine pursuit of its objects towards good of the society and not for the business like expansion through entertainment for guests in private club and networking etc. for which normally businesses use such memberships.
THE DCIT (EXEMPTIONS) CIRCLE – JAIPUR VERSUS MAHATMA GANDHI CHARITABLE SOCIETY FOR EDUCATION AND RESEARCH 521
(2020) TaxCorp(LJ) 20942 (ITAT-JAIPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=81619&Category=ITAT&CategoryType=Zip
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