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Where the Assessee has exercised its right under Section 172(7) by filing his return of income for the entire year then it ought to be assessed on the return of income so filed as per the normal provisions, taking note of all benefits and exemptions available.
Interocean Shipping (India) Pvt. Ltd Vs The DCIT
(2022) TaxCorp(LJ) 29303 (ITAT-RAJKOT) · Section 172(7)
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The commission amounts which were earned by the non-resident assessees for services rendered outside India cannot, therefore, be deemed to be incomes which have either accrued or arisen in India.
Credit Suisse (Singapore) Ltd. Vs Dy. Commissioner of Income Tax
(2022) TaxCorp(LJ) 29302 (ITAT-MUMBAI)
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The time limit prescribed in clauses (i) & (ii) of Section 201(3) pertain to default for failure to deduct full or any part of the tax from the person resident in India, however the section does not prescribe in any explicit terms, any timeline in respect of non-residents.
Sutherland Global Services Pvt. Ltd Vs DCIT
(2022) TaxCorp(LJ) 29301 (ITAT-CHENNAI)
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DDT is a 'tax payable on the distribution of dividend' and it is in no way connected to the determination of 'total income'.
Texas Instruments (India) P. Ltd. Vs JCIT
(2022) TaxCorp(LJ) 29300 (ITAT-BANGALORE)
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Since the assessee received inputs from its customers, it was not engaged in original work, to be characterized either as ‘computer software’ or as a ‘IT enabled service provider under engineering and design’.
Marmon Food and Beverage Technologies India (P) Ltd Vs THE INCOME TAX OFFICER
(2022) TaxCorp(LJ) 29293 (HC-KARNATAKA)
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The interest received on compensation to the assessee is nothing but a capital receipt and the addition is against the law.
Nariender Kumar Vs ITO
(2022) TaxCorp(LJ) 29292 (ITAT-DELHI) · Section 56(2)(viii)
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If a claim is otherwise sustainable in law, then the appellate authorities are empowered to entertain the same.
International Tractors Ltd Vs DY. COMMISSIONER OF INCOME TAX (LTU) & ANR.
(2022) TaxCorp(LJ) 29291 (HC-DELHI)
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Interest u/s 201(1A) does not assume the character of business expenditure and also cannot be regarded as compensatory payment.
New Modern Bazaar Departmental Store Pvt. Ltd Vs ITO
(2022) TaxCorp(LJ) 29290 (ITAT-DELHI) · Section 37(1)
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If there is a benefit conferred by legislation, the said benefit being legislative object, there would be a presumption that such a legislation would operate with retrospective effect by giving a purposive construction.
Texas Instruments India Pvt. Ltd Vs THE COMMISSIONER OF INCOME-TAX
(2022) TaxCorp(LJ) 29289 (HC-KARNATAKA) · Section 80JJAA
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Capital losses incurred from capital market transactions shall be construed as income accruing or arising from transactions undertaken in India falling within Sec. 5 and eligible to be carried forward to subsequent years.
Goldman Sachs India Investments (Singapore) PTE Limited The Dy. Commissioner of Income Tax
(2022) TaxCorp(LJ) 29288 (ITAT-MUMBAI)
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Assessee's failed to fully and truly disclose material facts in relation to expenses incurred relatable to tax free income u/s 14A, hence reopening is justified.
Nisha Diamonds Private Limited Vs INCOME TAX OFFICER
(2022) TaxCorp(LJ) 29287 (HC-GUJARAT)
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Carried forward MAT credit of amalgamating company can be taken credit of by amalgamated company.
TATA Communications Ltd. Vs Dy. Commissioner of Income Tax
(2022) TaxCorp(LJ) 29286 (ITAT-MUMBAI)
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Cost of work in progress is to be valued at cost or market price whichever is lower.
Ittina Properties Pvt. Ltd Vs The Additional Commissioner of Income Tax
(2022) TaxCorp(LJ) 29285 (ITAT-BANGALORE) · Section 80IB(10)
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Letting out of studio premises of trust in order to achieve main object of education cannot be construed as business.
Acharya Jiyalal Vasant Sangeet Niketan Vs ITO
(2022) TaxCorp(LJ) 29284 (ITAT-MUMBAI)
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Where assessee filed details regarding claim of depreciation on goodwill in original assessment proceedings and A.O after considering same, allowed said claim, initiation of reassessment to disallow depreciation was nothing but change of opinion.
Tata Communications Limited Vs DCIT
(2022) TaxCorp(LJ) 29283 (ITAT-MUMBAI)
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It cannot be held that only the assessee would have right to file the additional evidence and the same right is not available to the revenue.
Nuziveedu Seeds Ltd Vs Dy. Commissioner of Income-tax
(2022) TaxCorp(LJ) 29278 (ITAT-HYDERABAD)
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Lower disallowance under Section 14A would not amount to misreporting.
Prem Brothers Infrastructure LLP Vs NATIONAL FACELESS ASSESSMENT CENTRE & ANR
(2022) TaxCorp(LJ) 29277 (HC-MADRAS) · Section 14A
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Section 278(e) empowered the Court to presume culpable mental state of the accused, unless, the accused shows that he had no such mental state with respect to the act charged as an offence in the prosecution.
S.J.Surya Vs The Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 29276 (HC-MADRAS)
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In absence of a provision to rectify an order passed under Section 254(2), the only remedy available to the Revenue under law is to prefer an appeal before HC.
Vodafone Cellular Limited Vs Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 29268 (ITAT-PUNE) · Section 254(2)
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Assessee did not file any evidence to substantiate his claim that impugned land was converted as stock-in-trade before entering into the JDA, and thus, section 45(2) is inapplicable.
Babusha Haribhau Gade Vs The Income Tax Officer
(2022) TaxCorp(LJ) 29267 (ITAT-PUNE) · Section 45(2)
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