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S. 12AA: Non disposal of an application for registration before the expiry of six months as provided u/s 12AA (2) results in deemed grant of registration
CIT vs. Society For The Promotion Of Education, Adventure Sport & Conservation Of Environment
(2016) TaxCorp(LJ) 9958 (SC) · Section 12AA
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S. 147: The reopening of the assessment is not valid if the reasons recorded are incoherent and do not indicate what the basis for reopening is
Sabharwal Properties Industries Pvt. Ltd vs. ITO
(2016) TaxCorp(LJ) 9957 (HC-DELHI) · Section 147
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S. 37(1): Expenditure in respect of a project which did not materialize has to be treated as revenue expenditure as not capital asset comes into existence
CIT vs. Manganese Ore India Limited
(2016) TaxCorp(LJ) 9956 (HC-BOMBAY) · Section 37(1)
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S. 147: Law laid down in DCIT vs. Zuari Estate Development and Investment Co 373 ITR 661 does not mean that in cases where no assessment order is passed and assessment is completed by Intimation u/s 143(1), the sine qua non to show that there is "reason to believe that income chargeable to tax has escaped assessment" is not required. It is open to the assessee to challenge a notice issued u/s 148 as being without jurisdiction for absence of reason to believe even in case where the assessment has been completed earlier by Intimation u/s 143(1) of the Act
Khubchandani Healthparks Pvt. Ltd vs. ITO
(2016) TaxCorp(LJ) 9955 (HC-BOMBAY) · Sections 147, 148, 143(1)
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HC - Control and management of the companies was with their auditor based in Delh and hence these companies were resident in India.
CIT. vs. Mansarovar Commercial P Ltd.
(2016) TaxCorp(LJ) 9954 (HC-DELHI)
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HC - It is still open for assessee to challenge Sec 148 notice where assessment was concluded u/s 143(1).
Khubchandani Healthparks Pvt. Ltd. vs. ITO
(2016) TaxCorp(LJ) 9953 (HC-BOMBAY) · Section. 143(1)
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ITAT - Amendment by Finance Act, 2015 to Sec 2(24)(xviii), not retrospective in nature. Subsidy received by assessee under the Government's Quality Upgradation and Product Diversification Scheme is revenue in nature.
Limtex Tea & Industries Ltd. vs. ACIT
(2016) TaxCorp(LJ) 9952 (ITAT-KOLKATA)
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ITAT - As AO obtained approval from CWT prior to recording of ‘reasons’, notice for reassessment was illegal and invalid.
Export Credit Guarantee Corporation of India Ltd. vs. ACWT
(2016) TaxCorp(LJ) 9951 (ITAT-MUMBAI)
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ITAT - In view of instructions of CBDT Circular No. 21/2015, dated 10-12-2015, revenue's appeal denied as tax effect was below monetary limit.
Income Tax Officer, Ward 2(3), Sangli v. Pallavi Satish Patil
(2016) TaxCorp(LJ) 9950 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=46357&Category=ITAT&CategoryType=Zip
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HC - AO has no powers to embark upon a fresh enquiry to question audited books of assessee while computing book profits under sec. 115JB.
Sri Hariram Hotels (P.) Ltd. v. Commissioner of Income-tax-(III), Bangalore
(2016) TaxCorp(LJ) 9947 (HC-KARNATAKA) · http://taxcorp.in/FileOpenDT.aspx?ID=62546&Category=Judgment&CategoryType=Zip
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HC - 54F nowhere envisages that sale consideration from original capital asset is mandatorily required to be utilized for purposes of cost of new asset.
Commissioner of Income-tax, Faridabad v. Kapil Kumar Agarwal
(2016) TaxCorp(LJ) 9944 (HC-P&H) · http://taxcorp.in/FileOpenDT.aspx?ID=62501&Category=Judgment&CategoryType=Zip
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HC - No penalty u/s 271(1)(c) upon disallowance of assessee’s claim of financial expenses details of which were disclosed in the return of income.
Safina Hotels Private Limited vs. CIT
(2016) TaxCorp(LJ) 9941 (HC-KARNATAKA) · Section. 271(1)(c)
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ITAT - No TDS u/s 195 on payments made to non-resident for training conducted outside India.
Holcim Services South Asia Limited vs. DCIT
(2016) TaxCorp(LJ) 9940 (ITAT-MUMBAI) · Sections. 40(a)(i), 195
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ITAT - Liaison office of a Japanese company cannot be regarded as fixed place PE in India.
Kawasaki Heavy Industries Ltd. vs. ACIT
(2016) TaxCorp(LJ) 9939 (ITAT-DELHI)
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ITAT - Income derived by assessee (a US entity) from construction project should be taxed as business income, not FTS.
DDIT. vs. MSV International Inc
(2016) TaxCorp(LJ) 9938 (ITAT-DELHI)
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HC - Receipt of non-compete amount in tranches before retirement and also before the date of non-compete agreement is axable as profit in lieu of salary u/s 17(ii).
B. L. Shah vs ACIT
(2016) TaxCorp(LJ) 9937 (HC-BOMBAY)
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ITAT - No penalty u/s 271C where assessee did not deduct TDS relying upon CA’s certificate u/s 195.
ADIT. vs. Leighton Welspun Contractors P. Ltd.
(2016) TaxCorp(LJ) 9935 (ITAT-MUMBAI) · Section. 271C
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Pursuant to the amendment to the Hindu Succession Act, 1956 by the Hindu Succession (Amendment) Act, 2005 all rights which were available to a Hindu male are now also available to a Hindu female. A daughter is now recognised as a co-parcener by birth in her own right and has the same rights in the co-parcenary property that are given to a son. Consequently, the eldest daughter is entitled to be the Karta of the HUF
Sujata Sharma vs. Manu Gupta
(2016) TaxCorp(LJ) 9934 (HC-DELHI)
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Law on prospective vs. retrospective operation of legislation explained. The Hindu Succession (Amendment Act), 2005 which came into effect on 09.09.2015 and by which daughters in a joint Hindu family, governed by Mitakshara law, were granted statutory right in the coparcenary property (being property not partitioned or alienated) of their fathers applies only if both the father and the daughter are alive on the date of commencement of the Amendment Act
Prakash vs. Phulvati
(2016) TaxCorp(LJ) 9933 (SC)
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A Power of Attorney executed by the Head Office in favour of the Liaison Office in India does not create a Permanent Establishment if the powers are specific to the liaison office and are not unfettered powers to enable to Liaison Office to act on behalf of the enterprise
Kawasaki Heavy Industries Ltd vs. ACIT
(2016) TaxCorp(LJ) 9932 (ITAT-DELHI)
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