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HC - Section 43B is with a non-obstante clause and therefore over ride even if, anything otherwise is contained in Section 36 or any provision of Act 1961.
Sagun Foundry Private Limited Versus Commissioner of Income Tax, Kanpur
(2016) TaxCorp(LJ) 11757 (HC-ALLAHABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=68056&Category=Judgment&CategoryType=Zip
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HC - Since the assessment year 1999-2000 and 2000-2001 became final prior to 30th September, 2004, i.e. the introduction of the amended Section 142A, AO could not have reopened the issue in February, 2005 by then applying the amendment under Section 142A retrospectively.
Smt. Jharna Dey Versus Income Tax Officer, Ward-I, Bankura & Others
(2016) TaxCorp(LJ) 11756 (HC-CALCUTTA) · http://taxcorp.in/FileOpenDT.aspx?ID=68059&Category=Judgment&CategoryType=Zip
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ITAT - Sec 14A is applicable in respect of strategic investment made by assessee (a cooperative bank) in its subsidiary company.
DCIT. Vs. The Saraswat Co-operative Bank Limited
(2016) TaxCorp(LJ) 11755 (ITAT-MUMBAI) · Section. 14A
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HC - ITAT had adopted a mechanical approach in following Galileo International Inc’s case on 15% profit attribution.
Pr. CIT. Vs. Travelport L. P. USA
(2016) TaxCorp(LJ) 11754 (HC-DELHI)
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ITAT - Income derived from the business of operation and maintenance of information Technology Park is not "Income from house property" but to be treated as “income from business” and expenditure and other claims to be allowed in accordance with the law
M/s. Mack Soft Tech Private Limited Versus Dy. Commissioner of Income Tax, Circle 16 (2) Hyderabad
(2016) TaxCorp(LJ) 11753 (ITAT-HYDERABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=53720&Category=ITAT&CategoryType=Zip
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ITAT - where it is only income tax that is paid under the provisions of section 115JB of the Act, it is natural that tax credit under section 115JAA of the Act will only be of income tax and not of surcharge and education cess.
Harbinger Systems Pvt. Ltd. Versus The Dy. Commissioner of Income Tax, Circle -1 (2), Pune
(2016) TaxCorp(LJ) 11752 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=53721&Category=ITAT&CategoryType=Zip
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ITAT - Since there was no willful and deliberate concealment of the income by the assessee, therefore no penalty u/s 271(1)(c)
Smt. Nirmala S. Tilavalli, L/H. Late Shri. S.H. Tilavalli Versus Income Tax Officer, Ward 1 (3), Hubballi
(2016) TaxCorp(LJ) 11751 (ITAT-BANGALORE) · http://taxcorp.in/FileOpenDT.aspx?ID=53724&Category=ITAT&CategoryType=Zip
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ITAT - Payment was made by any person to his agent, who is required to make payment in cash for goods or services on behalf of such person, the provisions of Section 40A(3) is not applicable.
Shri P. Senthil Kumar Versus The Income Tax Officer
(2016) TaxCorp(LJ) 11750 (ITAT-CHENNAI) · http://taxcorp.in/FileOpenDT.aspx?ID=53727&Category=ITAT&CategoryType=Zip
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ITAT - Where the Assessing Officer has failed to follow the guidelines issued for selecting the cases for scrutiny, assessment order passed by the Assessing Officer is bad in law.
M/s. S.F. Chougule Versus The Joint Commissioner of Income Tax And Vice-Versa
(2016) TaxCorp(LJ) 11749 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=53728&Category=ITAT&CategoryType=Zip
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ITAT - Penalty notice issued (u/s 271(1)(c)) in the present case suffers from infirmity i.e. lack of satisfaction and lack of notice being issued in making the assessee aware of exact charge against him, hence, the same is quashed.
V.T. Palresha and Co. Pvt. Ltd. Versus The Asst. Commissioner of Income Tax
(2016) TaxCorp(LJ) 11748 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=53730&Category=ITAT&CategoryType=Zip
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ITAT - No TDS u/s 194J on payments made by a bulk SMS provider to domestic telecom operator towards connectivity charges.
Gupshup Technology India Pvt Ltd. Vs. DCIT(TDS)
(2016) TaxCorp(LJ) 11747 (ITAT-MUMBAI) · Section. 194J
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HC - In case of estimation of income through GP rate, once bogus purchases were disallowed then gross profit ratio would automatically enhance.
Synbiotics Ltd. v. Union of India
(2016) TaxCorp(LJ) 11746 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=66393&Category=Judgment&CategoryType=Zip
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ITAT - No TDS u/s 195 on availing transponder facility as revenue cannot hold same payment in the nature of ‘royalty’ and at same time would be reckoned as ‘FTS’ also.
United Home Entertainment Pvt Ltd Versus ADIT (IT) -2 (2), Mumbai
(2016) TaxCorp(LJ) 11744 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=53687&Category=ITAT&CategoryType=Zip
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ITAT - Expenditure incurred on wire mesh fitted on the buses plied by assessee for the school children is of revenue in nature as there is no enduring benefit to the assessee.
M/s. Springbird Educations Pvt. Ltd. Versus ITO, Ward-4 (3) (4), Mumbai
(2016) TaxCorp(LJ) 11743 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=53688&Category=ITAT&CategoryType=Zip
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ITAT - No TDS u/s 194I on payment to CIDCO as lease premium because the payment is for acquisition of land rights and the same is to be reckoned as capital expenditure.
The Income Tax Officer (TDS) Versus M/s. BKS Galaxy Realtors Pvt. Ltd.
(2016) TaxCorp(LJ) 11742 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=53690&Category=ITAT&CategoryType=Zip
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ITAT - The statement of the partner cannot be the sole criteria for making an addition on account of unexplained marriage expenses.
M/s. Ashok and Co Versus ITO, Ward-24 (2), New Delhi
(2016) TaxCorp(LJ) 11741 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=53701&Category=ITAT&CategoryType=Zip
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ITAT - Vacancy allowance allowed as per provision of section 23(1)(c) even when house is under renovation and vacancy of house was beyond control of assessee.
S.M. Chandrashekar v. Income-tax Officer, Ward 1 (4), Bangalore
(2016) TaxCorp(LJ) 11740 (ITAT-BANGALORE) · http://taxcorp.in/FileOpenDT.aspx?ID=51493&Category=ITAT&CategoryType=Zip
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ITAT - Exemption to charitable society cannot be denied just because it was charging fees for charitable activities.
Quality Circle Forum of India v. Deputy Director of Income-tax, Exemptions-III, Hyderabad
(2016) TaxCorp(LJ) 11739 (ITAT-HYDERABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=53686&Category=ITAT&CategoryType=Zip
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ITAT - Depreciation available on goodwill claimed during assessment vide a revised computation of income without filing revised return of income.
DCIT. Vs. Zydus Wellness Ltd.
(2016) TaxCorp(LJ) 11738 (ITAT-AHMEDABAD)
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ITAT - Indexation available on long-term capital gains for working MAT liability u/s 115JB.
Karnataka State Industrial Infrastructure Development Corporation Ltd. vs. DCIT
(2016) TaxCorp(LJ) 11737 (ITAT-BANGALORE) · Section. 115JB
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