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ITAT - Commissioner (Appeals) has no powers to decide TP issue without taking into account effect of provisions contained in Chapter X of Act.
Strides Arcolab Ltd. v. Assistant Commissioner of Income tax, Mumbai
(2016) TaxCorp(LJ) 9888 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=44833&Category=ITAT&CategoryType=Zip
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HC - Where assessee had disclosed all material facts relating to dividend income at time of making assessment, no reassessment can be made for disallowance under sec. 14A.
Sun Pharmaceutical Industries Ltd. v. Deputy Commissioner of Income-tax
(2016) TaxCorp(LJ) 9887 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=62684&Category=Judgment&CategoryType=Zip
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Revised return with same info is furnishing of inaccurate particulars
DCIT. vs. M/s. Rattha Citadines
(2016) TaxCorp(LJ) 9886 (ITAT-CHENNAI)
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Securities premium is not accumulated profits u/s 2(22)(e): ITAT
M/s Jeans Knit Pvt. Ltd. vs. ACIT
(2016) TaxCorp(LJ) 9885 (ITAT-BANGALORE) · Section. 2(22)(e)
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S. 263 Valid if AO fails to enquire business exigency of donations
Shri M.D. Wadhokar vs. CIT
(2016) TaxCorp(LJ) 9884 (ITAT-PUNE) · Section. 263
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S. 80IB(10) Mere Common Commercial & Residential Layout?
M/s. D.S. Kulkarni Developers Ltd. vs. ACIT
(2016) TaxCorp(LJ) 9883 (ITAT-PUNE) · Section. 80IB(10)
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Daughter have equal rights in Parents property prospectively: SC
Prakash & Ors vs. Phulavati & Ors
(2016) TaxCorp(LJ) 9882 (SC)
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Invocation of Section 263 on mere DCIT Suggestion invalid
Span Overseas Ltd. vs. CIT
(2016) TaxCorp(LJ) 9881 (ITAT-PUNE) · Section 263
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Auditors’ Qualifications: Whether a death Knell for assessee?
M/s J&K Diary Producers, Processors and Marketing Co-operative Union Ltd. Vs. ITO
(2016) TaxCorp(LJ) 9880 (ITAT-AMRITSAR)
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ITAT - No TDS u/s 195 on remittance by assessee to its holding company in Mauritius under share buy-back scheme as the same not taxable in India.
Goldman Sachs (India) Securities Pvt. Ltd. Vs. Income tax Officer-(Intl. Taxation) TDS-3
(2016) TaxCorp(LJ) 9879 (ITAT-MUMBAI)
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HC - Initiation of reassessment proceedings under directive of audit party was not sustainable where AO did not record independent reasons.
Adani Developers (P.) Ltd. v. Income-tax Officer, Ward 1(1)
(2016) TaxCorp(LJ) 9878 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=62606&Category=Judgment&CategoryType=Zip
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Sec 68: No addition where parties have sufficient bank balance while giving loans
ITO. vs. Rekha Bansal
(2016) TaxCorp(LJ) 9869 (ITAT-DELHI) · Section. 68
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Interest subsidy for repayment of loan acquired for acquisition of capital assets, is capital receipts
DCIT. vs. M/s J.K. Cement Ltd.
(2016) TaxCorp(LJ) 9868 (ITAT-LUCKNOW)
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Treatment of subsidy granted to set up a wind project
UniDeritend Limited vs. ACIT
(2016) TaxCorp(LJ) 9867 (ITAT-MUMBAI) · Section. 50
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Subsidy to set up a new unit or to expand an existing unit is capital receipts, purpose test will prevail
M/s. Shivalik Prints Limited vs. ACIT
(2016) TaxCorp(LJ) 9866 (ITAT-DELHI)
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Sec 10A – Deduction allowed to new unit being independent unit, physical demarcation with old unit not relevant
DCIT. vs. M/s E-Soft Technologies Ltd.
(2016) TaxCorp(LJ) 9865 (ITAT-LUCKNOW) · Section. 10A
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Amount not assessable as Assessee’s income where direct payment made to parties for surrender of tenancy rights
ITO. vs. Smt. Elsa Silva
(2016) TaxCorp(LJ) 9864 (ITAT-MUMBAI)
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HC - Sec 201(3) amended vide Finance Act, 2014 extending time-period to 7 years not retrospective in nature.
Tata Teleservices Vs. Union Of India
(2016) TaxCorp(LJ) 9863 (HC-GUJARAT) · Section. 201(3)
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Section 80IC: Despite substantial expansion there cannot be two initial Assessment Year
Sh. Sumit Kumar Vs. ITO
(2016) TaxCorp(LJ) 9862 (ITAT-CHANDIGARH) · Section 80IC
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No Penalty for non disclosure of manner of Income, if same was not asked during statement recorded U/s/ 132(4)
DCIT. Vs. Shri Rajiv Chopra
(2016) TaxCorp(LJ) 9861 (ITAT-CHANDIGARH) · Section. 132(4)
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