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It is an agreed position between the parties that the issue raised herein stand concluded against the Revenue and in favour of the Respondent – Assessee. There is no concept of deferred expenditure unless it falls in specified Sections. It held that ordinarily, if the Assessee claims the expenditure in a particular year, it has to be allowed. We note that the expenditure incurred on DRUPA Exhibition is in the nature of marketing and selling expenses.
PR. COMMISSIONER OF INCOME TAX-3, MUMBAI VERSUS M/S. MANUGRAPH INDIA PVT. LTD.
(2019) TaxCorp(LJ) 20126 (HC-BOMBAY) · https://taxcorp.in/FileOpenDT.aspx?ID=79956&Category=Judgment&CategoryType=Zip
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The above claim made by the petitioner for refund of the sum is not disputed by the respondents and on the other hand, the respondents seek four weeks time to refund the same, this Writ Petition is disposed of, by recording the above stand taken by the respondents, also with further direction to the respondents to refund the said sum along with appropriate interest within a period of four weeks from the date of receipt of a copy of this order.
M/S. NARAYANAN CHETTIAR INDUSTRIES VERSUS THE INCOME TAX OFFICER, THE JOINT COMMISSIONER OF INCOME TAX
(2019) TaxCorp(LJ) 20125 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=79957&Category=Judgment&CategoryType=Zip
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It is an integrated process of manufacture or producing bidi in this case, from the processed Tendu leaves, which qualifies for exemption. The placement of the word ‘processing’ in between ‘manufacturing’ and “or producing articles or things” under sub-section (1A) is also significantly indicate such intention of the Legislature.
GONDIA BEEDI LEAVES CONTRACTORS ASSOCIATION, VERSUS UNION OF INDIA, MINISTRY OF FINANCE, DEPARTMENT OF REVENUE, PRINCIPAL CHIEF COMMISSIONER OF INCOME TAX, JOINT COMMISSIONER OF INCOME TAX (TDS) , STATE OF MAHARASHTRA THE PRINCIPAL CHIEF CONSERVATOR OF FORESTS, NAGPUR AND OTHER
(2019) TaxCorp(LJ) 20124 (HC-BOMBAY) · https://taxcorp.in/FileOpenDT.aspx?ID=79958&Category=Judgment&CategoryType=Zip
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No such limitation provision has been enacted with regard to tax collection at source as provided in Section 206C till date. Under the circumstances, where no time limit has been prescribed by the statute for passing order in respect of default in collection of tax at source, a guidance can be possibly obtained from judicial precedents laying down a reasonable time limit as implicit for imposition of levy of tax at source.
ADANI ENTERPRISE LTD. VERSUS DCIT TDS CIRCLE ‘A’ WING, AHMEDABAD
(2019) TaxCorp(LJ) 20123 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=77866&Category=ITAT&CategoryType=Zip
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AO as well as the Ld. CIT(A) had recorded categorical finding in the light of statement of Shri Kamlesh Shah, Director of the company that the assessee was having excess cash during the course of survey for which no explanation has been offered. We further noted that although the assessee claims to have taken the benefit of telescoping towards income offered from Solitaire Project, but while recording statement during the course of survey it was the case of the assessee that excess cash found during the course of survey represents unaccounted income.
M/S. SILVER LAND DEVELOPERS PVT. LTD. VERSUS ACIT, CIRCLE-10 (2) , MUMBAI
(2019) TaxCorp(LJ) 20122 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=77869&Category=ITAT&CategoryType=Zip
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Physical verification of stock was carried out by the assesese-company on its own as a matter of internal control in the month of January and February, 2015 well before the search and the surplus stock found on such physical verification having been accounted for by the assessee-company in its books of account in the month of March, 2015 itself, the same, in our opinion, cannot be treated as unexplained investment of the assessee, which is chargeable to tax under section 69.
ASSISTANT COMMISSIONER OF INCOME TAX VERSUS M/S. NEW HORIZONS LIMITED
(2019) TaxCorp(LJ) 20121 (ITAT-KOLKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=77874&Category=ITAT&CategoryType=Zip
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Appellant did not furnish any documentary evidence to prove that the loan taken from 1IFSL and transferred directly to MIPL was for the purpose of the business of the appellant though it was the onus of the appellant to prove the business exigency of giving loan of such a huge amount without interest after borrowing the same on huge interest expenses.
SHRI SHREYAS V. SHAH VERSUS DCIT CENTRAL CIRCLE-1 BARODA
(2019) TaxCorp(LJ) 20120 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=77877&Category=ITAT&CategoryType=Zip
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As considered the relevant documentary evidences brought on record. We have also perused the judicial decisions relied upon by both the rival representatives. The DRP has simply followed the directions of the Tribunal in readjudication proceedings to assist the Assessing Officer in determining the issues raised before the Tribunal in the first round of litigation.
HITACHI HIGH TECHNOLOGIES SINGAPORE PTE LTD. VERSUS THE DY. C.I.T, CIRCLE - GURGAON AND INTERNATIONAL TAXATION, NEW DELHI
(2019) TaxCorp(LJ) 20119 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=77860&Category=ITAT&CategoryType=Zip
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In the present case the central bureau of investigation has made the detailed enquiry and found that the financing of the appellant to the extent stated in the reasons recorded are not what is disclosed by the assessee but a camouflage transaction.
BRIJBASI EDUCATION AND WELFARE SOCIETY VERSUS ADDL. CIT, RANGE-1, GHAZIABAD
(2019) TaxCorp(LJ) 20118 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=77862&Category=ITAT&CategoryType=Zip
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AO has received information from Sales Tax Department(VAT), Investigation Division, Mumbai intimating that bogus sellers having specified TIN And PAN numbers were operating. The transactions in respect of the assessee has already been categorically identified and specified in respect of the three assessment years. The said documents had been given to the assessee for his rebuttal. The assessee has failed to prove the genuineness of the Purchasers affected with the material evidence.
M/S. S.V.P.N.S.N. BALASIVAJI NADAR & SONS VERSUS THE INCOME-TAX OFFICER, WARD -4, VIRDHUNAGAR.
(2019) TaxCorp(LJ) 20117 (ITAT-CHENNAI) · https://taxcorp.in/FileOpenDT.aspx?ID=77799&Category=ITAT&CategoryType=Zip
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Section 234E was brought in statute w.e.f. 1.7.2012 which provides for fee for default in furnishing statements where a person fails to deliver or cause to be delivered a statement within the time prescribed under section 200(3) or proviso to sub section (3) of section 206C. Section 234E cannot be read in isolation, because it only prescribes the mode of calculation of the fee and it has to be read with the mechanism and the mode provided for its enforcement, that is, the provision which imposes the fee.
PRAKASH INDUSTRIES LTD. VERSUS DCIT TDS-CPC NEW DELHI.
(2019) TaxCorp(LJ) 20116 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=77801&Category=ITAT&CategoryType=Zip
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There is no dispute as to the applicability of the Circular No. 17 of 2019, on pending appeals and, thus, tax effect involved in the appeal being less than the prescribed monetary limit of ₹ 50 Lakhs, the Department was required to withdraw this appeal or not pressed if not falling under exclusion provided in para 10 of circular No. 3/2018 as amended on 20/08/2018.
DCIT, CIRCLE-12 (1), NEW DELHI VERSUS M/S. G.K. DIARY & MILK PRODUCTS PVT. LTD. AND (VICE-VERSA)
(2019) TaxCorp(LJ) 20115 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=77807&Category=ITAT&CategoryType=Zip
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In India Singapore DTAA, preparatory or auxiliary character, as used in para 7 of Article 5 of India-Singapore DTAA is ejusdem generis to the other terms used therein which means that similar activities which have preparatory or auxiliary character has to be read as business solely used for the purpose of advertising, for the supply of information, for scientific research or for similar activities.
Hitachi High Technologies Singapore Pte Ltd Vs The Dy. C.I.T
(2019) TaxCorp(LJ) 20114 (ITAT-DELHI)
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Neither actual cost as envisaged under section 43(1) was determined by the AO, nor satisfaction was recorded by the AO to the effect that the transfer of asset at a rate higher than the written down value was with ulterior motive of reducing tax liability by claiming depreciation on enhanced cost.
Galaxy Care Laparoscopy Institute Pvt. Ltd Vs Deputy Commissioner of Income Tax
(2019) TaxCorp(LJ) 20113 (ITAT-PUNE)
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The issue stands covered in favour of the assessee and against the Revenue held Assessing Officer himself had admitted by grossing up the ECB interest by the amount of tax borne by the borrowers that tax at source has been deducted. We are thus of the view that no interest under section 234B of the Act can be levied for the tax demand on account of ECB interest and interest under section 234B is also not chargeable.
THE BANK OF TOKYO-MITSUBISHI UFJ LTD. VERSUS DY. C.I.T CIRCLE-3 (1) (1) , INTERNATIONAL TAXATION, NEW DELHI
(2019) TaxCorp(LJ) 20112 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=77795&Category=ITAT&CategoryType=Zip
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In this case, since there was a Family Settlement between the assessee and three brothers and they have acted upon Family Settlement Deed and distributed various properties among themselves and necessary rights and title are transferred in favour of each brother would show that parties have entered into genuine transaction.
SHRI GOVIND KUMAR KHEMKA VERSUS THE ACIT, CIRCLE-47 (1) , NEW DELHI.
(2019) TaxCorp(LJ) 20111 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=77796&Category=ITAT&CategoryType=Zip
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The second proviso to Section 40 (a) (ia) of the Act is declaratory and curative in nature and has retrospective effect from 1st April 2005, merits acceptance. No substantial question of law arises.
THE COMMISSIONER OF INCOME TAX BELAGAUM, THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-I, BIJAPUR VERSUS SHRI S.M. ANAND
(2019) TaxCorp(LJ) 20110 (HC-KARNATAKA) · https://taxcorp.in/FileOpenDT.aspx?ID=79925&Category=Judgment&CategoryType=Zip
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On the basis of the reasons recorded in the impugned order, it cannot be said that there was no genuine attempt on the part of the Assessing Officer to understand the nature of his business, its method of accounting, or to understand the nuances of the books of accounts or documents. The impugned order clearly reflects the reasons for ordering a special audit. AO initially issued a notice under Section 142(1) on 03.08.2018 along with detailed questionnaire including the reason for selection of case for scrutiny under Section 143 (3).
RELIGARE FINVEST LIMITED, RELIGARE ENTERPRISES LIMITED VERSUS DEPUTY COMMISSIONER OF INCOME TAX & ANR.
(2019) TaxCorp(LJ) 20109 (HC-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=79928&Category=Judgment&CategoryType=Zip
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The show-cause notice issued on 21st June 2019, is under Section 26(1) of the Benami Act and not under Section 26 (3). The reasons for this are not far to seek. The scheme of the Benami Act, under Section 5, provides for confiscation of any property which is subject matter of a benami transaction, by the Central Government. An Adjudicating Authority is appointed under Section 7.
INITIATING OFFICER, ACIT BENAMI PROHIBITION VERSUS APPELLATE TRIBUNAL UNDER THE PROHIBITION OF BENAMI PROPERTY TRANSACTIONS ACT, 1988 & ORS.
(2019) TaxCorp(LJ) 20108 (HC-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=79936&Category=Judgment&CategoryType=Zip
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So far as supporting manufacturers are concerned, under Section 80HHC(1A), where any Export House or Trading House has issued a certificate that the supporting manufacturer has, in fact, supplied such goods or merchandise for export, they shall also be allowed a deduction to the extent of profits referred to derived by the assessee from the sale of goods or merchandise to the Export House or Trading House.
COMMISSIONER OF INCOME TAX, KARNAL (HARYANA) VERSUS M/S CARPET INDIA
(2019) TaxCorp(LJ) 20107 (SC) · https://taxcorp.in/FileOpenDT.aspx?ID=79937&Category=Judgment&CategoryType=Zip
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