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ITAT - No TDS u/s 194H on margin allowed to stockists pursuant to goods sold to the stockists on principal to principal basis.
PFIZER Ltd Vs DCIT
(2019) TaxCorp(LJ) 20623 (ITAT-MUMBAI) · Section 194H
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ITAT - Wherever the assessee failed to rebut the factual position on the basis of which addition was made, the levy of penalty u/s.271(1) (c) was justified even though AO had not struck off the relevant limb in the show cause notice.
Muthukumaran Rangarajan Vs The Income Tax officer
(2019) TaxCorp(LJ) 20622 (ITAT-CHENNAI)
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ITAT - Since assessee did not challenge validity of revision order u/s. 263 during revision proceedings with malafide intent, Sec.263 order validity challenge before Tribunal not maintainable.
ACC Limited Vs ACIT
(2019) TaxCorp(LJ) 20621 (ITAT-MUMBAI) · Section 263
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ITAT - Cranes are to be treated as motor vehicles and eligible for depreciation at higher rate.
Akbar Qureshi Vs ITO
(2019) TaxCorp(LJ) 20620 (ITAT-DELHI)
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ITAT - Demand raised u/s. 201(1) and 201(1A) for non-deduction of TDS on LTA reimbursement on employees' foreign travel is sustainable.
State Bank of India Vs The ITO
(2019) TaxCorp(LJ) 20619 (ITAT-AHMEDABAD)
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HC - If the order forming the basis for reopening u/s. 148 is upheld by HC then Revenue shall be entitled to revive its proceedings pursuant to notice u/s. 148.
CENTURY METAL RECYCLING PVT. LTD Vs PR. COMMISSIONER OF INCOME TAX- 2
(2019) TaxCorp(LJ) 20618 (HC-DELHI)
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HC - SCN under the Amended Benami Act, 2016 could not have been issued for alleged offences committed in 2011.
Ganpati Dealcom Pvt. Ltd Vs Union of India & Anr.
(2019) TaxCorp(LJ) 20617 (HC-CALCUTTA)
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SC - No TDS u/s 194H on Prasar Bharati's commission payments to advertising agencies.
Prasar Bharati Vs Commissioner of Income Tax
(2019) TaxCorp(LJ) 20616 (SC) · Section 194H
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ITAT - Interest earned from funds temporarily parked in FDRs out of borrowed funds is capital in nature since it is inextricably linked with the setting up of assessee's hotel.
Income-tax Officer Vs Triumph Realty Pvt. Ltd.
(2019) TaxCorp(LJ) 20611 (ITAT-DELHI)
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ITAT - Property acquired by way of a perpetual lease constitutes 'purchase' for the purpose of exemption u/s 54F.
Shri N. Ramaswamy Vs The Income Tax Officer
(2019) TaxCorp(LJ) 20610 (ITAT-CHENNAI) · Section 54F
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HC - Exemption u/s. 10(15)(f) on foreign currency loan - Even if the loan taken as working capital loan from M/s.Raghava Enterprises Limited earlier and employed by the assessee for such industrial development and the foreign currency loan in question was utilised to repay the loan to M/s.Raghava, the exemption given by the Ministry of Finance in favour of the Assessee cannot be said to have been lost by such facts.
Seven Seas Distillery (Pvt.) Ltd Vs Commissioner of Income Tax
(2019) TaxCorp(LJ) 20609 (HC-MADRAS) · Section 10(15)(f)
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HC - Assessing Officer is not justified in reopening the assessment in the absence of failure on the part of the assessee to truly and fully disclose the material fact.
Scientific Publishing Services Pvt. Ltd Vs Deputy Commissioner of Income Tax
(2019) TaxCorp(LJ) 20604 (HC-MADRAS) · Section 10B
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ITAT - Amortisation of discount on issue of Euro bonds over the period of the Euro bonds allowed.
The Tata Power Co. Ltd Vs The Asst. Commissioner of Income Tax
(2019) TaxCorp(LJ) 20603 (ITAT-MUMBAI)
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ITAT - The English translated version of all the documents relied upon by the Revenue need to be given to the assessee.
Shri Harshad Ramaniklal Mehta Vs Deputy Commissioner of Income Tax
(2019) TaxCorp(LJ) 20599 (ITAT-MUMBAI)
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ITAT - Late fees u/s 234E for assessee's delay in filing of TDS return in Form 24Q justified even though it was owing to “procedural default”.
GMV Services Vs ACIT
(2019) TaxCorp(LJ) 20598 (ITAT-DELHI) · Section 234E
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The addition representing the disallowance of the income earned from the vegetable crops and the disallowance out of the agricultural operation expenditure is unsustainable.
Chandra Mouli Chowdary (HUF) Vs The Assistant Commissioner of Income Tax
(2019) TaxCorp(LJ) 20597 (ITAT-CHENNAI)
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There is no categoric denial to the averment that the petitioners were connected in some manner to the Augusta Westland case and to the Gautam Khaitan Group of companies.
The Principal Commissioner of Income Tax Vs IDS Infotech Ltd. And another
(2019) TaxCorp(LJ) 20596 (HC-P&H) · Section 127
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The consent of the competent authorities, admittedly, has been obtained before passing of the impugned order. Therefore, the earlier refusal on 12.11.2018 is of no significance.
Vodafone Idea Ltd Vs Principal Commissioner of Income Tax
(2019) TaxCorp(LJ) 20595 (HC-DELHI) · Section 127
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S. 147/ 151: As the Act provides for sanction by the JCIT, the sanction by the CIT does not meet the requirement of the Act and the reopening notice is without jurisdiction. The fact that the sanction is granted by a superior officer is not relevant
PCIT vs. Khushbu Industries
(2019) TaxCorp(LJ) 20582 (HC-BOMBAY) · Sections 147, 151
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S. 4/ 56: Amount received by assessee for relinquishing secretaryship of educational society cannot be treated as a capital receipt. The question of the principle of capital asset being invoked does not arise. The receipt is assessable as income from other sources. It may have been a different matter if it was a case of life time appointment of the assessee as Secretary of the concerned Institution but no such evidence was produced by the assessee (CIT vs. Ramachandra Rao 330 ITR 0322 affirmed)
H. S. Ramchandra Rao vs. CIT
(2019) TaxCorp(LJ) 20581 (SC) · Sections 4, 56
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