-
ITAT - Both purchase and sale took place during lock in period prescribed under SEBI Guidelines and thus, the shares were not transferred in assessee’s name due to lock in period. Transactions are sham; STCL disallowed.
AAA Portfolios Pvt. Ltd. vs. DCIT
(2016) TaxCorp(LJ) 9828 (ITAT-DELHI)
-
S. 23(1)(b): Brokerage paid to give out premises on rent and to earn lease rent is not deductible in computing the Income from house property
Radiant Premises Pvt. Ltd vs. ACIT
(2016) TaxCorp(LJ) 9827 (ITAT-MUMBAI) · Section 23(1)(b)
-
HC - Interest/Refund available u/s 244A on TDS withheld in advance which was subsequently waived.
Sunflag Iron & Steel Co. Ltd. vs. CBDT and Anr.
(2016) TaxCorp(LJ) 9826 (HC-BOMBAY) · Section 244A
-
ITAT -Pro-rata credit for TDS, MAT and advance tax available in hands of the resulting company post demerger.
Adani Gas Ltd vs. ACIT
(2016) TaxCorp(LJ) 9825 (ITAT-AHMEDABAD)
-
HC - Assessee not in default for non-deducting TDS u/s 194A on provision for interest reversed subsequently.
Karnataka Power Transmission Corporation Limited Vs DCIT
(2016) TaxCorp(LJ) 9824 (HC-KARNATAKA)
-
ITAT - Sec. 194C and not sec. 194I applicable on payments towards use of containers, which was incidental to transportation of cargo by sea route.
ACIT vs. Pushpak Logistics Pvt. Ltd.
(2016) TaxCorp(LJ) 9823 (ITAT-RAJKOT) · Section 194I
-
ITAT - Once a regular assessment order is framed and issued, there cannot be any occasion to turn the clock back and issue a draft assessment order.
Jazzy Creations Pvt Ltd vs. ITO
(2016) TaxCorp(LJ) 9822 (ITAT-MUMBAI)
-
High Court Shocked At Loot Of Taxpayers Funds By Corrupt Babus. Calls For Non-Cooperation Movement By Taxpayers To Eradicate "Hydra Headed Monster" Of Corruption
Pralhad @ Pratap s/o Tanbaji Pawar vs. State of Maharashtra
(2016) TaxCorp(LJ) 9821 (HC-BOMBAY)
-
S. 37(1): While receiving of gifts by doctors is prohibited by MCI Guidelines, the giving of such gifts by Pharma companies is not prohibited by any law. CBDT Circular dated 01.08.2012 is prospective
DCIT vs. Syncom Formulations (I) Ltd
(2016) TaxCorp(LJ) 9820 (ITAT-MUMBAI) · Section 37(1)
-
S. 153A: Law on whether an assessment made u/s 143(1) can be said to have abated & whether an assessment u/s 153A can be made in the absence of incriminating material explained
Ideal Appliances Co. Pvt. Ltd vs. DCIT
(2016) TaxCorp(LJ) 9819 (ITAT-MUMBAI) · Sections 143(1), 153A
-
No TDS u/s 195 for shipping-company assessed u/s 172.
CIT vs. V.S. Dempo & Co. Pvt. Ltd.
(2016) TaxCorp(LJ) 9818 (HC-BOMBAY) · Sections 172, 195
-
HC - Assessee is eligible for interest u/s 244A on refund of excess SA-tax paid u/s 140A.
CIT vs Birla Corporation Ltd
(2016) TaxCorp(LJ) 9817 (HC-CALCUTTA) · Section 244A
-
ITAT - Interest by firm to partners on capital contribution is liable for disallowance u/s 14A.
ACIT vs. Pahilajrai Jaikishin
(2016) TaxCorp(LJ) 9812 (ITAT-MUMBAI) · Section 14A
-
HC - Re-assessment order passed without disposing assessee’s objections to reasons for reopening quashed in writ.
Bayer Material Science Pvt Ltd vs. DCIT
(2016) TaxCorp(LJ) 9811 (HC-BOMBAY)
-
SC - SLP Dismissed - HC had held that payment of consultancy fees to Singaporean company for forex derivative transaction was FTS.
CIT vs. Andaman Sea Food Pvt. Ltd.
(2016) TaxCorp(LJ) 9810 (SC)
-
ITAT - Stay extended beyond 365 days till disposal of appeal or further period of 180 days.
SAP Labs India Pvt Ltd vs ACIT
(2016) TaxCorp(LJ) 9809 (ITAT-BANGALORE)
-
ITAT - Set-off of losses allowed by assessee’s STPI unit against income from non-STPI unit in view of CBDT circular no. 7 dated July 16, 2013.
NEC HCL System Technologies Ltd vs. ACIT
(2016) TaxCorp(LJ) 9808 (ITAT-DELHI)
-
HC - In absent of PE in India, contract revenue received by a UAE based company from ONGC is not taxable in India
NPCC vs DIT
(2016) TaxCorp(LJ) 9807 (HC-DELHI)
-
SC - HC to admit Revenue’s appeal on identical issue admitted earlier.
CIT vs. Bangalore Housing Dev. & Investments
(2016) TaxCorp(LJ) 9806 (SC)
-
Subsidy granted to set up a wind project is a capital receipt. the subsidy cannot be reduced under Explanation 10 to s. 43(1) from the cost of the assets acquired though 100% depreciation is allowed on the cost of the assets. The subsidy is also not assessable either u/s 41(1) or u/s 50
UniDeritend Limited vs. ACIT
(2016) TaxCorp(LJ) 9805 (ITAT-MUMBAI) · Sections 41(1), 50
Headnote lines are open to everyone. The full headnote and the judgment text open with a subscription — see plans or sign in.