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ITAT - Since export activities have been fulfilled in India, source of income was located in India and not outside India, and the mere fact that export proceeds emanated from persons situated outside India still assessee was liable to TDS u/s 195 while making payment thereof.
M/s. Megawin Switchgear Pvt. Ltd. Versus The Assistant Commissioner of Income Tax
(2016) TaxCorp(LJ) 10288 (ITAT-CHENNAI) · http://taxcorp.in/FileOpenDT.aspx?ID=48895&Category=ITAT&CategoryType=Zip
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SC - Assessee’s appeal admitted against HC-order declining intervention by way of writ to quash notices u/s 148.
Adobe Systems Software Ireland Ltd. vs. Asstt. Director Of Income Tax
(2016) TaxCorp(LJ) 10287 (SC)
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ITAT - If an explanation added to a provision changes the law, then it is not to be presumed to be retrospective irrespective of the fact that the phrase used are ‘it is declared‘ or ‘for the removal of doubts‘.
DDIT (IT) -2 (1) , Mumbai and ITO (TDS) , Large Tax-Payer Unit, Mumbai Versus M/s. Reliance Industries Ltd. and M/s. Indian Petrochemicals Corporation Ltd., (Merged with Reliance Industries Ltd.) and Vica-Versa
(2016) TaxCorp(LJ) 10285 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=49143&Category=ITAT&CategoryType=Zip
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ITAT - Receipt of bonus shares does not result in ‘receipt of property without consideration’ as envisaged u/s. 56(2)(vii)(c). Revenue not justified in adopting FMV of bonus shares and making addition u/s 56(2)(vii)(c) applying Rule 11 UA(B).
DCIT. vs. Dr. Rajan Pai
(2016) TaxCorp(LJ) 10284 (ITAT-BANGALORE) · Section. 56(2)
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ITAT - No TDS u/s 195 on payment abroad of communication charges, commission charges, legal and professional charges, marketing & selling charges and business development charges.
M/s IDS Infotech Ltd. Versus The D.C.I.T., Circle 4 (1) , Chandigarh
(2016) TaxCorp(LJ) 10283 (ITAT-CHANDIGARH) · http://taxcorp.in/FileOpenDT.aspx?ID=49249&Category=ITAT&CategoryType=Zip
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ITAT - No TDS on premium/interest payable on redemption of FCCB by amortization on pro-rata basis of implicit rate of return over the period of bonds.
First Source Solution Ltd. Versus ITO (TDS) , Ward-1 (2) , Mumbai
(2016) TaxCorp(LJ) 10278 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=49336&Category=ITAT&CategoryType=Zip
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ITAT - Tax authorities are not justified in bifurcating the selling price between the land and building without bringing any material to support their view. Price paid for purchase of flat will be taken as the cost of flats.
M/s. Bharat Homes Ltd. Versus Asst. CIT 9 (1) , Mumbai
(2016) TaxCorp(LJ) 10277 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=49337&Category=ITAT&CategoryType=Zip
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ITAT - The payment is made in respect of foreign travel of the specified persons but that does not bring the expense within the scope of disallowance under section 40A(2).
Ideal Sheet Metal Stamping and Pressing Pvt. Ltd. Versus Assistant Commissioner of Income Tax, Circle-4, Ahmedabad and Vica-Versa
(2016) TaxCorp(LJ) 10276 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=47464&Category=ITAT&CategoryType=Zip
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ITAT - Income arising from the DMRC contract was not assessable to tax in the hands of AOP but each member of the AOP in their own capacity.
ADIT, Circle-2 (1) , New Delhi Versus Persys Punj Lloyd JV, New Delhi
(2016) TaxCorp(LJ) 10275 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=49348&Category=ITAT&CategoryType=Zip
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ITAT - NO TDS on payment on account of inter-connectivity charges and usage of leased line as same is not chargeable to tax in India.
M/s. YRC Logistics India Pvt. Ltd., (Now MIQ Logistics India Pvt. Ltd.) Vesus ITO, Ward 18 (4) , New Delhi
(2016) TaxCorp(LJ) 10274 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=49350&Category=ITAT&CategoryType=Zip
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ITAT - No deduction u/s 48 for home-loan interest while computing short term capital gains on transfer of self occupied house-property as already subject to deduction u/s. 24.
Captain B L Lingaraju vs. ACIT
(2016) TaxCorp(LJ) 10273 (ITAT-BANGALORE)
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Reluctance of AOs to comply with binding Court judgements leads to negative reactions amongst business entities doing business in India and hurts National pride and image. Hereafter non-compliance with orders would visit officials with individual penalties, including forfeiture of salaries
Larsen & Toubro Limited vs. UOI
(2016) TaxCorp(LJ) 10272 (HC-BOMBAY)
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Transfer Pricing: Arbitrary action of the AO in treating the payment by the assessee to the AE as "excessive/ unreasonable" deplored. Whims and fancies of an AO cannot decide tax liability of an assessee. Either the AO was ignorant of the TP provisions or he was adamant to make the disallowance at any cost. Either way, his action cannot be endorsed
ITO vs. Intertoll ICS India Private Limited
(2016) TaxCorp(LJ) 10271 (ITAT-MUMBAI)
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S. 37(1): (i) Product Trial expenses of a new product is revenue in nature as it does not provide the assessee with any enduring benefit, (ii) Compensation paid to supplier to ensure goodwill and continued relationship is revenue expenditure
Bayer CropScience Limited vs. ACIT
(2016) TaxCorp(LJ) 10270 (ITAT-MUMBAI) · Section 37(1)
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ITAT - Loss suffered as a result of non-recovery of deposit given for gas and electricity was a loss incidental to the business of the assessee.
Reckitt Benckiser (India) Limited, Deputy Commissioner of Income Tax Versus Joint Commissioner of Income Tax, Reckitt Benckiser (India) Limited
(2016) TaxCorp(LJ) 10269 (ITAT-KOLKATA) · http://taxcorp.in/FileOpenINTL.aspx?ID=10385&Category=INTLDecisions&CategoryType=Zip
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ITAT - No TDS u/s 194D on Service Tax element in respect of ‘insurance commission‘.
DCIT (TDS) -3 (2) , Mumbai Versus M/s. Reliance Life Insurance Co. Ltd.
(2016) TaxCorp(LJ) 10268 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=49324&Category=ITAT&CategoryType=Zip
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ITAT - No TDS u/s 194C where assessee made the payments on behalf of its clients as there is no liability to deduct tax at source on the assessee.
Income Tax Officer Ward–12 (1) (1) , Mumbai Versus M/s. Rajeshwaree Shipping & Logistics
(2016) TaxCorp(LJ) 10266 (ITAT-KOLKATA) · http://taxcorp.in/FileOpenDT.aspx?ID=49328&Category=ITAT&CategoryType=Zip
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HC - Merely because education is provided at cost does not result in the Society ceasing to carry on its activities for a charitable purpose u/s 2(15).
THE DIRECTOR OF INCOME-TAX [EXEMPTIONS] HYDERABAD Versus THE I.D.R.B.T, HYDERABAD
(2016) TaxCorp(LJ) 10263 (HC-AP) · http://taxcorp.in/FileOpenDT.aspx?ID=65348&Category=Judgment&CategoryType=Zip
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HC - Payment to landlord for his consent to the reconstruction of the building is Revenue in nature.
Khaitan Hotels Private Ltd. Versus Commissioner of Income Tax - III, Kol.
(2016) TaxCorp(LJ) 10262 (HC-CALCUTTA) · http://taxcorp.in/FileOpenDT.aspx?ID=65352&Category=Judgment&CategoryType=Zip
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S. 147: Non-furnishing by the AO of reasons recorded for reopening the assessment results in violation of the law laid down in GKN Driveshaft 259 ITR 19 (SC) & renders the reopening void
Ujagar Holdings Pvt. Ltd vs. ITO
(2016) TaxCorp(LJ) 10258 (ITAT-DELHI) · Section 147
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