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HC - Writ allowed - It can happen that an income which was not earlier offered to tax is now withdrawn and, as a result, income is offered to tax before the ITSC.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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ITAT - Set off of losses with the surrendered income - The amendment to Section 115BBE is explained and has been stated that this amendment will take effect from 1st April, 2017 and will, accordingly, apply in relation to the assessment year 2017-18 and subsequent years.
The Asst. Commissioner of Income-tax, Central Circle-2, Jaipur Versus M/s Sanjay Bairathi Gems Ltd.
(2017) TaxCorp(LJ) 13396 (ITAT-JAIPUR) · http://taxcorp.in/FileOpenDT.aspx?ID=57429&Category=ITAT&CategoryType=Zip
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HC - Reopening of assessment valid even after omission to mention Section 143(2) literally in any one of the notices issued to the assessee.
Padinjarekara Agencies Pvt. Ltd. Versus The Commissioner of Income Tax, Kottayam
(2017) TaxCorp(LJ) 13395 (HC-KERALA) · http://taxcorp.in/FileOpenDT.aspx?ID=69723&Category=Judgment&CategoryType=Zip
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HC - Withdrawal of interest granted u/s 244A as assessee’s declaration for settlement of dispute under the Kar Vivad Samadhan Scheme, 1998 in respect of departmental appeal was accepted.
Vijay Kumar Jain vs. CIT
(2017) TaxCorp(LJ) 13390 (HC-P&H) · Section. 244A
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ITAT - Recording a satisfaction u/s 14A(2) is a condition precedent to invoke Rule 8D to compute disallowance u/s 14A.
Smartchem Technologies Ltd. vs. ACIT
(2017) TaxCorp(LJ) 13389 (ITAT-MUMBAI)
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HC - AO not empowered to make disallowance in final order when such disallowance had not emanated from the draft assessment order or from the directions of DRP.
Sanmina SCI India Pvt. Ltd. vs. CIT
(2017) TaxCorp(LJ) 13388 (HC-MADRAS)
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HC - Requirement to furnish the Tax Residency Certificate was introduced by Finance Act, 2012 with effect from April 1, 2013 which has no application to AY 2005-06. Reassessment on UAE-resident Quashed.
Prashant M. Timblo vs. CCIT
(2017) TaxCorp(LJ) 13387 (HC-BOMBAY)
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HC - Documentary evidences adequate to prove share application money genuineness even in case of no response/appearance by shareholders before Revenue against summons issued.
Orchid Industries Pvt. Ltd. vs. CIT
(2017) TaxCorp(LJ) 13386 (HC-BOMBAY) · Section. 68
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ITAT - While deciding the ALP of umbrella of services what has to considered is the right of assessee that it is entitled to avail. If it avails only a few services out of the boquet of services the TPO should not reject the TP study of the assessee on the ground that it did not avail all the services or the majority of services as mentioned in the agreement.
Dimension Data India Private Limited, (Formerly known as Dimension Data India Limited) Versus DCIT –Range- 6 (2) (2), Mumbai
(2017) TaxCorp(LJ) 13385 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=57400&Category=ITAT&CategoryType=Zip
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HC - Benefit of deduction u/s.57(iii) - The only requirement is that the expenditure is with the object of earning income and not dependent upon actual earning of income in fact.
Commissioner of Income Tax-IV, Nagpur Versus Ballarpur Industries Ltd.
(2017) TaxCorp(LJ) 13382 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=69707&Category=Judgment&CategoryType=Zip
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HC - Waiver of interest u/s 220(2) - The legal principle is that the person who hears must decide.
Alagesan Proprietor: Manigandan Rice Mill Versus The Chief Commissioner of Income Tax -3, The Principal Commissioner of Income Tax – 8, The Tax Recovery Officer -8, The Income Tax Officer
(2017) TaxCorp(LJ) 13381 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=69709&Category=Judgment&CategoryType=Zip
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