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S. 194C TDS: Law on whether the by-product allowed to be retained by the miller can be regarded as consideration 'paid' in kind by the procurement agency so as to create an obligation to deduct TDS thereon explained in the light of Kanchanganga Sea Foods Ltd. vs CIT 325 ITR 549 (SC) & other judgements
ITO (TDS) vs. The Distt. Manager, Punjab State Warehousing Corporation (ITAT Chandigarh)
(2018) TaxCorp(LJ) 16061 (ITAT-CHANDIGARH) · Section 194C
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S. 12A Charity Registration: Exemplary cost of Rs. 1 lakh levied upon trust for fraud in wrongly seeking exemption on basis that it is controlled & managed by the Govt. The ITAT is deemed to be a Civil Court and its proceedings are deemed to be judicial proceedings within the meaning of s. 193 & 228 & of the Indian Penal Code. Any attempt to play fraud on the ITAT by way of conveying wrong and false facts and pleadings is required to be strictly dealt with
Sri Dashmesh Academy Trust vs. CIT (Exemptions)
(2018) TaxCorp(LJ) 16060 (ITAT-CHANDIGARH) · Section12A
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S. 250/ 254: If a decision is challenged by the assessee both on the issue of jurisdiction as well as on merits, the appellate authority has to decide both issues. He cannot decline to decide one of the issues on the basis that the decision on the other issue renders it academic. This approach leads to multiplication of proceedings and leads to delay
ITO vs. Mohanraj Trading & Exchange
(2018) TaxCorp(LJ) 16059 (ITAT-MUMBAI) · Sections 250, 254
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The total callous, negligent and disrespectful behaviour shown by the Departmental authorities in this Court should not be tolerated at all. It is this kind of lack of judicial discipline which if it goes unpunished, will lead to more litigation and chaos and such public servants are actually a threat to the society. Commissioner (Appeals) should pay cost of Rs. 1 lakh from his personal funds
XLHealth Corporation India Pvt. Ltd. Vs. UOI
(2018) TaxCorp(LJ) 16058 (HC-KARNATAKA)
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Condonation of abnormal delay of 1371 days in removing office objections: High Court refused to condone delay and held that Dept must "set its own house in order by sacking and removing the delinquent and negligent officials or penalising them otherwise so as to subserve larger public interest". The Supreme Court reversed this holding High Court ought to have condoned the delay and not dismissed the appeal. Dept to pay costs of Rs. 1 lakh (from taxpayers' funds) for condonation of delay
CIT vs. Reliance Industries Ltd
(2018) TaxCorp(LJ) 16057 (SC)
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S. 69A Black Money: If the assessee is a discretionary beneficiary of the HSBC Bank Account and is not the owner, addition u/s 69A cannot be sustained. In the case of a discretionary trust, the income of the trust cannot be added in the hands of the beneficiary. The trustees are the representative assessees who are liable to be taxed for the income of the trust (All judgements considered)
Deepak B Shah vs. ACIT
(2018) TaxCorp(LJ) 16056 (ITAT-MUMBAI) · Section 69A
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ITAT - One time receipts/awards by cricketer are exempt under CBDT Circular
Mr. Chandrakant Gulabrao Borde Vs The Income Tax Officer
(2018) TaxCorp(LJ) 16051 (ITAT-PUNE)
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ITAT - Municipal taxes pertaining to years when company was not the owner is allowable deduction while calculating Annual Let Out Value.
Technomark Television Network Pvt. Ltd., Vs The Income-tax Officer
(2018) TaxCorp(LJ) 16050 (ITAT-BANGALORE)
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ITAT - No penalty u/s 271(1)(c) for capital gains not disclosed by assessee on switch over of investment from one Mutual Fund scheme to another.
Kamalesh Basu Vs CIT(A)-XVI
(2018) TaxCorp(LJ) 16049 (ITAT-KOLKATA)
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ITAT - Despite details regarding nature and backdrop of receipt being available, AO did not examine the taxability of income component of the disbursement from the family trust. No addition u/s 69.
Pratibha Pankaj Patel Vs Deputy Commissioner of Income Tax
(2018) TaxCorp(LJ) 16048 (ITAT-AHMEDABAD) · Section 69
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HC - Real income theory upheld - No addition towards interest due on NPA of co-operative bank even prior to Sec 43D amendment.
Ludhiana Central Co-Op. Bank Ltd Vs THE PRINCIPAL COMMISSIONER OF INCOME TAX-3
(2018) TaxCorp(LJ) 16042 (HC-P&H)
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HC - Failure to consider trust's application for registration within 6 months would be treated as deemed grant of registration and to be effective from date of expiry of 6 months from application date.
TBI EDUCATION TRUST Vs THE COMMISSINER OF INCOME TAX, COCHIN
(2018) TaxCorp(LJ) 16041 (HC-MADRAS)
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HC - Payment to the Austrian company for design of cylinder for improvement of fuel efficiency is not royalty, but FTS and taxable only in Austria, as per provisions of India-Austria DTAA.
TVS Motors Co Ltd Vs The Director of International Taxation
(2018) TaxCorp(LJ) 16040 (HC-MADRAS)
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S. 90(2): If a non-resident assessee derives income from multiple sources in India, it is entitled to adopt the provisions of the Act for one source and the DTAA for the other source, whichever is more beneficial to it, even though the payer is common for both sources
Dimension Data Asia Pacific Pte. Ltd vs. DCIT
(2018) TaxCorp(LJ) 16039 (ITAT-MUMBAI) · Section 90(2)
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S. 68 Bogus share premium: The AO cannot assess the share premium as income on the ground that it is "excessive". The share premium worked out in the Valuation Certificate is the minimum amount that can be collected by the assessee under RBI regulations. There is no bar on collecting higher amount as share premium. There are several factors that are taken into consideration while issuing the equity shares to shareholders/investors, such as Venture capital funds and Private Equity funds. The premium is determined between the parties on the basis of commercial considerations and cannot be questioned by the tax authorities. The AO is not entitled to sit on the arm chair of a businessman and regulate the manner of conducting business (All judgements considered)
DCIT vs. Varsity Education Management Pvt. Ltd
(2018) TaxCorp(LJ) 16038 (ITAT-MUMBAI) · Section 68
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HC - Rights to enjoy lease income was a camouflage to divert income under a revocable transfer. Taxable u/s 60 in transferor’s hands.
Ambience Developers Vs COMMISSIONER OF INCOME TAX
(2018) TaxCorp(LJ) 16030 (HC-DELHI) · Section 60
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HC - Employees' contribution to PF / ESI deposited beyond respective due date but before due date of filing ROI is not allowable deduction.
M/s. Unifac Management Services (India) Private Ltd. Vs The Deputy Commissioner of Income Tax, Corporation Circle 3(2)
(2018) TaxCorp(LJ) 16029 (HC-MADRAS)
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ITAT - Assessee was in receipt of huge ‘capitation fees’ in cash over and above the regular course fees and hostel fees which were not recorded in the books of accounts; Cancels charitable registration.
Indian Medical Trust Vs Principal Commissioner of Income Tax (Central)
(2018) TaxCorp(LJ) 16015 (ITAT-JAIPUR)
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ITAT - Payment made by an Indian company towards web hosting charges to Amazon Web Services LLC, USA is not a royalty under India – US DTAA. No TDS u/s 195.
EPRSS Prepaid Recharge Services India P. Ltd. Vs The Income Tax Officer
(2018) TaxCorp(LJ) 16013 (ITAT-PUNE)
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HC - No TDS u/s 195 on commission to non-resident agents for procuring export orders even though some sale happened in India
Ferromatic Milacron India Pvt Ltd Vs PRINCIPAL COMMISSIONER OF INCOME TAX-2
(2018) TaxCorp(LJ) 16012 (HC-GUJARAT) · Section 195
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