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HC - Had it been the intention of the assessee to make full and true disclosure of its income, it would have filed the return declaring an income inclusive of the amount which was surrendered later during the course of the assessment proceedings. Penalty u/s 271(1)(c) valid.
Grass Field Farms and Resorts P. Ltd. Versus Deputy Commissioner of Income-Tax
(2016) TaxCorp(LJ) 11511 (HC-RAJASTHAN) · http://taxcorp.in/FileOpenDT.aspx?ID=66753&Category=Judgment&CategoryType=Zip
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ITAT - The assessee cannot suffer for the inaction of the Revenue authorities and the Assessing Officer ought not to have disallowed the claim merely because the Commissioner has not granted approval of the Gratuity Scheme.
Commissioner of Income-Tax Versus Jaipur Thar Gramin Bank
(2016) TaxCorp(LJ) 11510 (HC-RAJASTHAN) · http://taxcorp.in/FileOpenDT.aspx?ID=66664&Category=Judgment&CategoryType=Zip
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HC - Addition merely based on similar business's GP rate not justified.
Commissioner of Income-Tax Versus Satish Bala Malhotra and others (No. 2)
(2016) TaxCorp(LJ) 11509 (HC-P&H) · http://taxcorp.in/FileOpenDT.aspx?ID=66477&Category=Judgment&CategoryType=Zip
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HC - ‘Reasonable’ rent not the lower actual rent is relevant for computing annual value of the property let out u/s 23(1).
CIT. vs. Dr. K. M. Mehaboob
(2016) TaxCorp(LJ) 11508 (HC-KERALA)
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ITAT - Contribution made by a CA firm to the a branch of ICAI towards construction of administrative building is allowable u/s 37(1).
B. K. Khare And Company vs. ACIT
(2016) TaxCorp(LJ) 11507 (ITAT-MUMBAI) · Section. 37
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ITAT - Sec 43B does not have a direct link of the amount of tax to be passed through P&L account. ‘Unpaid service tax’ not routed through P&L a/c disallowed u/s 43B.
Madhya Gujarat Viz. Co. Ltd. Vs. ITO
(2016) TaxCorp(LJ) 11506 (ITAT-AHMEDABAD) · Section. 43B
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ITAT - Once the books of accounts has been rejected, AO cannot fall back upon the same books for making addition.
M/s National India Construction Co. Versus Addl. CIT, Pathankot And Income Tax Officer Ward-2, Pathankot Versus M/s National India Construction Co.
(2016) TaxCorp(LJ) 11505 (ITAT-AMRITSAR) · http://taxcorp.in/FileOpenDT.aspx?ID=49807&Category=ITAT&CategoryType=Zip
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ITAT - No TDS u/s 195 in respect of Legal fees paid to non-resident Attorneys as the same does not constitute royalty as per India-UK DTAA nor FTS u/s. 9(1)((vi)/vii).
M/s. Kotak Mahindra Bank Limited Versus The Income Tax Officer (International Tax) TDS 3, Mumbai
(2016) TaxCorp(LJ) 11504 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=52098&Category=ITAT&CategoryType=Zip
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ITAT - When the transactions in question are falling under the ambit of definition of ‘international transaction’ as provided u/s.92B of the Act, then the AE being tax resident of India will not take out the matter from the purview of the TP provisions.
United Engineers (Malasia) Berhad Quorum Versus Deputy Commissioner of Income-tax, (International Taxation), Circle -11 (1) , Bengaluru
(2016) TaxCorp(LJ) 11503 (ITAT-BANGALORE) · http://taxcorp.in/FileOpenDT.aspx?ID=51870&Category=ITAT&CategoryType=Zip
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ITAT - Denial of loss suffered on handling charges - Since the impugned disallowance is made on assumptions and surmises the same is deleted.
Arabinda Kundu Versus I.T.O., Ward-49 (1), Kolkata
(2016) TaxCorp(LJ) 11502 (ITAT-KOLKATA) · http://taxcorp.in/FileOpenDT.aspx?ID=51286&Category=ITAT&CategoryType=Zip
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ITAT - No TDS u/ s 195 on the bank guarantee commission paid to a foreign bank.
DCIT, CIRLCE 14 (1), NEW DELHI Versus M/s POWER MACHINES (INDIA) LTD.
(2016) TaxCorp(LJ) 11501 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=51282&Category=ITAT&CategoryType=Zip
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ITAT - Penalty on income from bad debts recovered since the assessee has failed to do, in violation of the mandated provisions of law.
M/s. Forbes and Company Ltd. (formerly Forbes Gokak Ltd.) Versus DCIT, Circle 1 (1), Mumbai
(2016) TaxCorp(LJ) 11500 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=52099&Category=ITAT&CategoryType=Zip
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ITAT - Even though assessee filed only a scanned copy of application in Form 35A, such defect is curable u/s 292B.
MSM Satellite (Singapore) Pte. Ltd. vs. JDIT (IT)
(2016) TaxCorp(LJ) 11499 (ITAT-MUMBAI)
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ITAT - Merely because the assessee did not contest the addition, cannot give rise to any adverse inference against the assessee, as in any case it was running into huge losses. No penalty u/s 271(1)(c).
ACIT, Circle-1, Surat Versus M/s. Banco Silk Mills Pvt. Ltd.
(2016) TaxCorp(LJ) 11498 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=52082&Category=ITAT&CategoryType=Zip
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HC - Sec 234C interest is mandatory in nature. Argument that deferment in payment of advance tax was beyond the control of assessee cannot be accepted.
MRF ltd. Vs. DCIT
(2016) TaxCorp(LJ) 11497 (HC-MADRAS) · Section. 234C
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HC - Assessee was prima facie required to prove the validity of the transaction. The assessee having failed to do so, no right accrues in his favour on account of non- summoning of the witness under section 131 of the Act by the AO.
Sham Sunder Khanna Versus Commissioner of Income-Tax
(2016) TaxCorp(LJ) 11496 (HC-P&H) · http://taxcorp.in/FileOpenDT.aspx?ID=66166&Category=Judgment&CategoryType=Zip
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HC - Writ Dismissed - Reasoning required by an order u/s 127 cannot be equated to a quasi judicial order and lack of detailed reasoning is not grave-prejudice to assessee.
M. K. Overseas Pvt. Ltd., Chaudhary Skin Trading Company vs. Pr. CIT
(2016) TaxCorp(LJ) 11495 (HC-DELHI)
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HC - No TDS u/s 194H on the discount offered to the retailers as the same could only be treated as sales promotion expenses, and not as commission. No services were rendered by the retailers.
Commissioner of Income-Tax (TDS) Versus United Breweries Ltd. (Successor to United Millenium Breweries)
(2016) TaxCorp(LJ) 11493 (HC-AP) · http://taxcorp.in/FileOpenDT.aspx?ID=66351&Category=Judgment&CategoryType=Zip
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ITAT - Technical/consultancy service payments by an company to a Switzerland company, constitutes FTS under India-Swiss DTAA.
Torrent Pharmaceuticals Ltd. vs. ITO (International Taxation)
(2016) TaxCorp(LJ) 11492 (ITAT-AHMEDABAD)
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HC - Since the annual value of the building which was let out was to be estimated, the estimation could be done applying Section 23(1)(b).
THE COMMISSIONER OF INCOME TAX, CALICUT Versus DR. K.M. MEHABOOB, M/s. MOIDU'S MEDICARE (P) LTD.,
(2016) TaxCorp(LJ) 11491 (HC-KERALA) · http://taxcorp.in/FileOpenDT.aspx?ID=66755&Category=Judgment&CategoryType=Zip
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