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ITAT - In view of Explanation 2(a) to Sec. 263 inserted by Finance Act, 2015, acceptance of return without any enquiry/verification, makes AO’s order liable for revision u/s. 263.
Avathan Marimuthu Vs. Asst. Commissioner of Income Tax
(2017) TaxCorp(LJ) 13426 (ITAT-CHENNAI)
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ITAT - Product testing fee to foreign AE for testing its products does not amount to fees for technical services. Np TDS u/s 195.
Gates India (P) Ltd. vs. ACIT
(2017) TaxCorp(LJ) 13425 (ITAT-DELHI) · Section. 195
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HC - Explanation to Sec. 37(1) was not attracted to assessee’s payment for commission to Jordan based company as the same is not illicit under Volcker-report.
Ajanta Pharma Limited Vs. Commissioner of Income Tax Central IV
(2017) TaxCorp(LJ) 13424 (HC-BOMBAY) · Section. 37
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HC - Processes for converting 24 carat standard gold into 22 carat gold ornaments amount to manufacture eligible for Sec. 80-IB deduction.
Lakesh Handa vs. PCIT
(2017) TaxCorp(LJ) 13423 (HC-J&K)
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HC - Sec. 11(6) can't be applied retrospectively to AYs prior to AY 2015-16. Depreciation claim of Trust allowed.
DIT. Vs. Medical Trust of the Seventh Day
(2017) TaxCorp(LJ) 13422 (HC-MADRAS)
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ITAT - A Primary Agricultural Credit Society registered under the Kerala Co-operative Societies Act, 1969 is entitled to the benefit of deduction u/s. 80P(2).
Income Tax Officer, Ward-3, Tirur Versus Edarikode Service Co-operative Bank Ltd. And Vice-Versa
(2017) TaxCorp(LJ) 13414 (ITAT-COCHIN) · http://taxcorp.in/FileOpenDT.aspx?ID=57457&Category=ITAT&CategoryType=Zip
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ITAT - As ‘Web Hosting Charges’ can safely be construed as a facility which is provided to facilitate hosting of a website, therefore, the fee provided by the assessee for availing such service cannot be characterized as a ‘as a fee for technical service’. No TDS u/s 194J.
Metro Shoes Ltd. Versus Income Tax officer (TDS) -2 (2) , Mumbai And Vice-Versa
(2017) TaxCorp(LJ) 13413 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=57461&Category=ITAT&CategoryType=Zip
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ITAT - The process of manufacturing DG sets does not involve mere ascending of parts but is actually a manufacturing process resulting in the manufacture of new product from the raw materials by giving them new properties. Deduction u/s 80IB allowed.
ACIT Circle-II, Faridabad Versus Sunil Parkash, Prop. M/s. Cromewell Industries And Vice-Versa
(2017) TaxCorp(LJ) 13412 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=57463&Category=ITAT&CategoryType=Zip
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ITAT - The object for which a statutory corporation, or any other body, association or institution is created is the crucial aspect for determining the eligibility for availing benefit u/s. 10(26B).
M/s. Lakshadweep Development Corporation Ltd. Versus The Assistant Commissioner of Income-tax, Circle-1 (2), Ernakulam
(2017) TaxCorp(LJ) 13411 (ITAT-COCHIN) · http://taxcorp.in/FileOpenDT.aspx?ID=57464&Category=ITAT&CategoryType=Zip
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HC - The non-compete fee cannot be termed as a camouflage or well- orchestrated plan to avoid tax recognizing taxpayer’s stature in advertising industry. Non-compete fee was a non-taxable capital receipt.
CIT. vs. Tara Sinha
(2017) TaxCorp(LJ) 13410 (HC-DELHI)
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HC - Writ allowed - It can happen that an income which was not earlier offered to tax is now withdrawn and, as a result, income is offered to tax before the ITSC. This will satisfy the requirement of Section 245C (1).
Unitech Wireless (Tamil Nadu) Pvt. Ltd. Vs. PCIT
(2017) TaxCorp(LJ) 13409 (HC-BOMBAY) · Section. 245C
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ITAT - Conditional grant received not to be reduced from the WDV of the plant & machinery for the purpose of allowance of depreciation as the same is in the nature of a financial arrangement and not subsidy.
Spectrum Coal & Power Ltd. vs. DCIT
(2017) TaxCorp(LJ) 13408 (ITAT-MUMBAI)
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ITAT - Since assessee has paid tax on tax and not claimed exemption u/s 10(10CC) , there can not be any disallowance u/s 40(a)(v).
Asstt. DIT, International Taxation-1 (1) Kolkata Versus M/s. Joy Partnership And Vice-Versa
(2017) TaxCorp(LJ) 13406 (ITAT-KOLKATA) · http://taxcorp.in/FileOpenDT.aspx?ID=57439&Category=ITAT&CategoryType=Zip
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ITAT - Amendment was made by Finance Act, 2012 w.r.e.f. 01.6.1976. Amendment made with retrospective effect cannot fasten liability on the assessee.
Alok Industries Limited Versus Dy. CIT, (TDS) 1 (1), Mumbai
(2017) TaxCorp(LJ) 13405 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=57441&Category=ITAT&CategoryType=Zip
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ITAT - Bogus purchases sought to be taxed based on of list of hawala operators published by Maharashtra Sales-tax Department. Addition u/s 69C of reasonable net profit of 12.5% on total bogus purchases would be sufficient.
Dy. CIT, 14 (1) (2) , Mumbai Versus M/s Fagioli India Pvt Ltd.
(2017) TaxCorp(LJ) 13403 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=57448&Category=ITAT&CategoryType=Zip
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HC - Direct Tax Dispute Resolution Scheme, 2016 - Scope of the term "tax arrear" - It would include the amount of tax, interest or penalty and would be treated as a tax arrear if against such determination, appeal is pending before the appellate Commissioner on the specified date.
Parbatbhai J Golakia Huf Versus Principal Commissioner of Income Tax-1
(2017) TaxCorp(LJ) 13402 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=69740&Category=Judgment&CategoryType=Zip
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HC - Merely because there was no legal obligation to incur such expenditure would not mean that the same was not allowable business expenditure if it could be pointed out that the expenditure incurred in preserving the business connections and goodwill of business.
Principal Commissioner of Income Tax-1 Versus Kalupur CommerciaL Co-OP. Bank Ltd.
(2017) TaxCorp(LJ) 13401 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=69741&Category=Judgment&CategoryType=Zip
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ITAT - Indian group company undertook agency activities for other entities and was also engaged in procuring/producing and supplying programs and acted as licensee for certain channels, to be treated as an independent agent, not PE for Dutch counterpart.
International Global Networks BV vs. ADIT (International Taxation)
(2017) TaxCorp(LJ) 13399 (ITAT-MUMBAI)
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HC - Since non-compete arrangement was only a smoke screen, payment to be treated as revenue receipt.
CIT. Vs. R. Radikaa and Radaan Media Works India Ltd.
(2017) TaxCorp(LJ) 13398 (HC-MADRAS)
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ITAT - TDS u/s 194J OR 194I - No Tax Deduction at Source on payments towards internet & communication charges.
Destimoney Securities Pvt. Ltd. Versus The Income Tax Officer (TDS) (OSD) -1 (3), Mumbai
(2017) TaxCorp(LJ) 13397 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=57422&Category=ITAT&CategoryType=Zip
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