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Strictures passed against CBDT for being lax and delaying issuing of the Forms and then taking adamant stand by not extending due date for filing ROI. CBDT directed to issue order u/s 119 to extend due date for filing ROI to 31.10.2015
All Gujarat Federation Of Tax Consultants vs. CBDT
(2015) TaxCorp(LJ) 8987 (HC-GUJARAT) · Section. 119
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HC - Premium received by assessee-co-operative housing society upon transfer of plot by its outgoing member is not chargeable to tax in the hands of society. Principles of mutuality applied.
CIT. vs. Prabhukunj Co-op Hsg Soc Ltd.
(2015) TaxCorp(LJ) 8778 (HC-GUJARAT)
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HC - Since assessee company as well as parent company, both were assessed to tax at maximum marginal rate, payment to AE could not be said to be excessive.
Principal Commissioner of Income-tax-2 v. Gujarat Gas Financial Services Ltd.
(2015) TaxCorp(LJ) 8753 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=61470&Category=Judgment&CategoryType=Zip
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HC - Satisfaction can be said to be a borrowed satisfaction from another officer which in absence of any application of mind and any real finding in case of assessee does not constitute valid reason to believe that income has escaped assessment.
Shree Chalthan Vibhag Khand v. Deputy Commissioner of Income-tax
(2015) TaxCorp(LJ) 8696 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=61392&Category=Judgment&CategoryType=Zip
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HC - Any SC judgment interpreting a particular provision would have a prospective effect unless expressly made retrospective in the judgment. 'Additional tax' arising due to subsequent SC ruling to be deleted.
DCIT vs. Surat Electricity Company Limited
(2015) TaxCorp(LJ) 8432 (HC-GUJARAT)
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HC - ITAT has powers to extend stay beyond 365 days if satisfied that assessee not indulged into any delay tactics and the delay in disposing of appeal not attributable to the assessee.
DCIT. vs. Vodafone Essar Gujarat Limited
(2015) TaxCorp(LJ) 7011 (HC-GUJARAT)
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ITAT - S. 254(2A) third proviso cannot be interpreted to mean that extension of stay of demand should be denied beyond 365 days even when the assesseee is not at fault. ITAT should make efforts to decide stay granted appeals expeditiously.
DCIT vs. Vodafone Essar Gujarat Limited
(2015) TaxCorp(LJ) 6988 (HC-GUJARAT) · Section 254(2A)
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HC - ITAT has power to extend stay of demand beyond 365 days if delay in disposing appeal not attributable to assessee.
Deputy Commissioner of Income-tax - TDS Circle v. Vodafone Essar Gujarat Ltd.
(2015) TaxCorp(LJ) 6984 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=61364&Category=Judgment&CategoryType=Zip
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HC - Advance received by contractor cannot be taxed on receipt basis.
Rudraksh Builders v. Assistant Commissioner of Income-tax
(2015) TaxCorp(LJ) 6957 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=59068&Category=Judgment&CategoryType=Zip
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HC - Where it is evident that assessee inflated expenditure by showing higher purchase price through fictitious invoices, Tribunal rightly disallowed purchases.
Vijay Proteins Ltd. v. Commissioner of Income-tax
(2015) TaxCorp(LJ) 6856 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=59181&Category=Judgment&CategoryType=Zip
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HC - Expenses incurred towards a project which could not be materialized was rightly treated as revenue expenditure and not as capital expenditure.
Deputy Commissioner of Income-tax (Asstt.) v. Gujarat Narmada Velley Fertilizers Co. Ltd.
(2015) TaxCorp(LJ) 6841 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=61250&Category=Judgment&CategoryType=Zip
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HC - There can be no reassessment when original assessment order was cancelled by Commissioner u/s 263.
Pine Chemicals Ltd. v. Deputy Commissioner of Income-tax
(2015) TaxCorp(LJ) 6815 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=61238&Category=Judgment&CategoryType=Zip
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HC - If assessee-housing finance corporation had not charged any interest, pending litigation on recovery of housing loans, interest income could not be treated as income accrued or received to assessee.
Joint Commissioner of Income-tax v. Parshwanath Housing Financing Corpn. Ltd.
(2015) TaxCorp(LJ) 6799 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=59315&Category=Judgment&CategoryType=Zip
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HC - Since amendment to sec. 40(a)(ia) by Finance Act, 2010, with effect from 1-4-2005 has retro-effect, no disallowance can be made if TDS is deposited before due date of filing return under section 139(1).
Commissioner of Income-tax, Ahmedabad-IV v. Omprakash R. Chaudhary
(2015) TaxCorp(LJ) 6539 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=58641&Category=Judgment&CategoryType=Zip
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HC - Where agreement was in substance a finance lease and not a mere hire purchase, thus liable to erstwhile interest tax.
CIT. vs. Axis Bank Ltd.
(2015) TaxCorp(LJ) 6509 (HC-GUJARAT)
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HC - Assessee (100% EOU) is entitled to sec 10B deduction based on approval granted by Development Commissioner and subsequently ratified by Board of approval.
CIT. vs. ECI Technologies Pvt. Ltd.
(2015) TaxCorp(LJ) 6508 (HC-GUJARAT) · Section. 10B
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HC - Absence of “dissolution clause” in the trust-deed is not a ground to deny Section 12AA registration.
CIT. vs. Tapagachha Sangh Mota
(2015) TaxCorp(LJ) 6482 (HC-GUJARAT) · Section. 12AA
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HC - Where AO had already raised the said issue of amortization of royalty paid to the Wireless Planning Commission of Government of India while framing the assessment under Section 143(3), notice of reopening fails with all consequential reliefs
Vodafone West Limited Formerly known As Vodafone Essar Versus Assistant Commissioner Of Income Tax
(2015) TaxCorp(LJ) 6474 (HC-GUJARAT) · http://www.taxcorp.in/FileOpenDT.aspx?ID=56023&Category=Judgment&CategoryType=Zip
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HC - The assessee never offered and/or claimed deduction as expenditure. Therefore, it is rightly observed by the learned Tribunal that there was no question of making any addition under Section 69/69(C)
Commissioner of Income Tax-I, Surat Versus Nagindas T. Kapadia (Prop: Shiv Krupa Jari)
(2015) TaxCorp(LJ) 6473 (HC-GUJARAT) · http://www.taxcorp.in/FileOpenDT.aspx?ID=61061&Category=Judgment&CategoryType=Zip
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HC - The moment the decision / approval of the Development Commissioner is ratified by the Board of Approval it will relate back to the date on which the approval was granted by the Development Commissioner. If that be so, it cannot be said that the assessee was not a EOU, which was entitled to the deduction under Section 10B
PRINCIPAL COMMISSIONER OF INCOME TAX, GANDHINAGAR Versus ECI TECHNOLOGIES PVT. LTD
(2015) TaxCorp(LJ) 6471 (HC-GUJARAT) · http://www.taxcorp.in/FileOpenDT.aspx?ID=61067&Category=Judgment&CategoryType=Zip
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