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ITAT - Delay in furnishing information under the various codes asked by issuing notice by the ITO was not willful but it was due to lack of required infrastructure and man power. No Penalty U/s 272A(2)(c) on bank.
Branch Manager, State Bank of Bikaner & Jaipur Versus JDIT, (I&CI), Jaipur
(2017) TaxCorp(LJ) 13463 (ITAT-JAIPUR) · http://taxcorp.in/FileOpenDT.aspx?ID=57584&Category=ITAT&CategoryType=Zip
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ITAT - Where the tax has been deducted on the strength of beneficial provisions of DTAA, provisions of section 206AA cannot be invoked to insist that the tax deduction should be @ 20%.
The Dy. Commissioner of Income Tax (International Taxation) -Circle 1, Pune Versus Calderys France, C/o Calderys India Refractories Ltd.
(2017) TaxCorp(LJ) 13462 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=57585&Category=ITAT&CategoryType=Zip
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ITAT - Where in case of transfer of rights in favour of the Developer (JDA), assessee contended that, in subsequent years he has paid the taxes and therefore, there was no loss to revenue or escapement of income. Re-assessment is void.
Asstt. Commissioner of Income Tax Versus Shri Y. Mohan Rao
(2017) TaxCorp(LJ) 13447 (ITAT-HYDERABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=57525&Category=ITAT&CategoryType=Zip
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ITAT - In case of gift of immovable property to daughter, assessee failed to prove that mistakenly instead of gift deed, sale deed was made, no exemption allowed u/s 47(iii) as gift. Addition u/s 50C confirmed.
Smt. Balwant Kaur Mangat Versus ITO, Ward-1 (2), Ghaziabad
(2017) TaxCorp(LJ) 13446 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=57528&Category=ITAT&CategoryType=Zip
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ITAT - Even where books of account were not rejected, since the AO has clearly established that the purchases were bogus, there is no justification for accepting the contentions that only part of the purchase should be disallowed.
M/s Shree Krishan Kripa Feeds, C/o Kapil Goel, Adv. Versus ITO, Ward-1, Panipat
(2017) TaxCorp(LJ) 13445 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=57529&Category=ITAT&CategoryType=Zip
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ITAT - In case of capital contribution by the partners in the partnership firm, the assessee could not be expected to prove the source of source and no addition u/s 68 could be made on this account. It could be made in the hands of the respective partners only.
Shivam Impex Versus Deputy Commissioner of Income Tax
(2017) TaxCorp(LJ) 13444 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=57532&Category=ITAT&CategoryType=Zip
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HC - When Appellant is doing business, then it was incumbent on him to maintain proper books and/ or books of account. It may be in any form. Therefore, if he had not maintained it, then he can not be allowed to take advantage of his own wrong. Addition u/s 68 in respect of gifts from NRI friend confirmed.
Shri. Arunkumar J. Muchhala Versus The Commissioner of Income Tax
(2017) TaxCorp(LJ) 13443 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=69788&Category=Judgment&CategoryType=Zip
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HC - ITAT, turning a blind eye, has erred in holding that, assessee has discharged his onus merely because the unsecured loan was advanced through the banking channels. Creditors fail the test of creditworthiness and the transactions fail the test of genuineness. Additions u/s 68 confirmed.
Principal Commissioner of Income Tax – 7 Versus Bikram Singh
(2017) TaxCorp(LJ) 13442 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=69789&Category=Judgment&CategoryType=Zip
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HC - Simply establishing creditors’ identity and routing the transaction through cheque, cannot by itself mean that the transactions are genuine. as assessee failed to discharge the ‘initial’ onus of establishing creditworthiness and genuineness qua the creditors, addition u/s 68 confirmed.
PCIT. vs. Bikram Singh
(2017) TaxCorp(LJ) 13441 (HC-DELHI)
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CCTV cameras are culture of the day and promotes good governance. All Tribunals including the ITAT should have CCTVs with audio recording. The footage of the CCTV Camera will not be available under the RTI and will not be supplied to anyone without permission of the concerned High Court
Pradyuman Bisht vs. UOI
(2017) TaxCorp(LJ) 13437 (SC)
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ITAT - TDS u/s 194C applicable on payments to various T.V channels for broadcasting its serials during fixed time slots.
DCIT TDS 1 (1) , Mumbai Versus Balaji Telefilms Ltd.
(2017) TaxCorp(LJ) 13436 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=57501&Category=ITAT&CategoryType=Zip
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S. 144C DRP: Action of the DRP in granting time to the assessee till 24th July 2017 to submit documents but in still passing the order on the same day itself and that too without taking on record the documents produced by the assessee is clearly unreasonable and in violation of the principles of natural justice
Systra SA Project Office vs. DRP
(2017) TaxCorp(LJ) 13435 (HC-DELHI) · Section 144C
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S. 14A/ Rule 8D: Entire law explained on what constitutes proper recording of satisfaction by the AO, scope of disallowance of interest expenses under Rule 8D(2)(i), admin expenses under Rule 8D(2)(iii), need for nexus between borrowed funds and tax-free investments and power of the ITAT to remand to the AO
H. T. Media Limited vs. Pr CIT
(2017) TaxCorp(LJ) 13434 (HC-DELHI) · Section 14A
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S. 143(2)/ 144C: Though service of the notice is not a condition precedent to conferment of jurisdiction upon the AO to deal with the matter, it is a condition precedent to making of the order of assessment. Accordingly, the s. 143(2) notice has not only to be issued before the expiry of the limitation period but has also to be served upon the assessee before the expiry of the limitation period. Conflict between VRA Cotton Mills (P&H) and Lunar Diamonds 281 ITR 1 (Del) explained in light of CBDT Circular No. 549 dated 31.10.1989
Cameron (Singapore) Pte Ltd vs. ADIT
(2017) TaxCorp(LJ) 13433 (ITAT-JAIPUR) · Sections 143(2), 144C
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ITAT - Reopening of assessment not valid as AO has invoked the jurisdiction u/s 147 without completing original enquiry initiated u/s 143(2).
Pradeep Sharma Versus DCIT, Central Circle-17, New Delhi
(2017) TaxCorp(LJ) 13432 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=57485&Category=ITAT&CategoryType=Zip
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ITAT - No disallowance of stamp duty charges paid at the time of registration of rent agreement in the absence of any capital asset coming into existence in the hands of the company.
M/s E-Smart Systems Private Limited Versus ITO Ward - 8 (3), New Delhi
(2017) TaxCorp(LJ) 13431 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=57486&Category=ITAT&CategoryType=Zip
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ITAT - In case of international transaction of ‘Purchase of finished goods’ RPM is the most appropriate method in the given circumstances.
ACIT, Circle 1 (1), New Delhi Versus Akzo Nobel Car Refinishes India Pvt. Ltd. And Vice-Versa
(2017) TaxCorp(LJ) 13430 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=57487&Category=ITAT&CategoryType=Zip
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HC - Reopening of assessment relying on material which was not part of the assessment proceedings and which material was provided by the investigation wing unearthed during the course of investigation, sustained.
Pushpak Bullion Pvt Ltd. Versus Deputy Commissioner of Income Tax - Circle - 3 (1)
(2017) TaxCorp(LJ) 13429 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=69771&Category=Judgment&CategoryType=Zip
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HC - Use of the word ‘may’ in Sec. 69C makes the deeming provision discretionary and not mandatory. Assessing authority has full discretion either to add or not to add the unexplained expenditure in the income of the assessee based upon sound judicial principles.
Late Rama Shankar Yadav vs. PCIT
(2017) TaxCorp(LJ) 13428 (HC-ALLAHABAD) · Section. 69C
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HC - Writ Dismissed - No second writ petition praying for same reliefs as in the earlier writ petition which was withdrawn by assessee.
Kamal Galani vs. ACIT
(2017) TaxCorp(LJ) 13427 (HC-BOMBAY)
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