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When a new rule in place of an old rule is substituted, the old one is never intended to keep alive and the substitution has the effect of deleting the old rule and making the new rule operative.
Autodesk Asia Pvt. Ltd. Vs The Director of Income Tax
(2020) TaxCorp(LJ) 24365 (HC-KARNATKATA)
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In case, a residential unit is allotted prior to 01.04.2010, the conveyance in such a residential unit can be registered subsequently also and in such a case also the assessee will be entitled to the benefit of deduction u/s 80IB (10).
Mandavi Builders Vs The CIT, The DCIT
(2020) TaxCorp(LJ) 24345 (HC-KARNATKATA) · Section 80-IB
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It is well settled rule of statutory interpretation that when a situation has been expressed differently, the legislation must be taken to have been tended to express a different intention.
Brigade Enterprises Ltd Vs The CIT, The DCIT
(2020) TaxCorp(LJ) 24335 (HC-KARNATKATA) · Section 80IB(10)(c)
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Section 10B (5) read with Rule 16E mandates that the assessee had to file audit report in Form-56G for claiming deduction u/s 10B of the Act. Admittedly, in the instant case, the assessee had not filed any audit report in Form-56G which was a mandatory requirement for claiming deduction u/s 10B of the Act. Therefore, the deduction u/s 10B of the Act cannot be thirst upon the assessee.
Karle International Private Ltd Vs The ACIT
(2020) TaxCorp(LJ) 24268 (HC-KARNATKATA)
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The inspection and ensure of quality of fabric, scheduled shipment of raw material and other related services rendered by the non-resident company would not fall within the ambit of FTS as contemplated u/s. 9(i)(vii) of the Act.
JEANS KNIT PVT. LTD Vs The DCIT
(2020) TaxCorp(LJ) 24259 (HC-KARNATKATA)
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While computing capital gains, the benefit of indexed cost of acquisition is to be considered for the purpose of computing tax liability u/s 115JB of the Act.
M/S. Best Trading And Agencies Ltd. Vs DCIT
(2020) TaxCorp(LJ) 24190 (HC-KARNATKATA) · Section 115JB
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A proviso which supplies an obvious omission in the section is required to be read into the section and treated as retrospective in operation.
A.Y. Garments International Private Ltd Vs The DCIT
(2020) TaxCorp(LJ) 22978 (HC-KARNATKATA) · Section 40(a)(ia)
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It is well settled in law that the tribunal is a fact finding authority and a decision on the facts of the tribunal can be gone into by the high court only if a question has been referred to it, which says that the finding of the tribunal is perverse.
SRI. C. RAMAIAH REDDY Vs CIT, DCIT
(2020) TaxCorp(LJ) 22861 (HC-KARNATKATA) · Section 45
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From perusal of clause (iii) of memorandum of partition, it is axiomatic that asset, which were taken over were forming part of stock in trade of real estate business and continued to be in nature of stock in trade in the hands of the assessee. There is no iota of material on record to show that the assets obtained by the assessee were capital assets.
COMMISSIONER OF INCOME TAX (CENTRAL) , DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 7 (1) , BANGALORE VERSUS SRI. C. RAMAIAH REDDY
(2020) TaxCorp(LJ) 22801 (HC-KARNATKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=83056&Category=Judgment&CategoryType=Zip
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HC - Adjusting cash seized during search proceedings towards advance tax liability for AY 2007-08 allowed since explanation 2 to Sec. 132B is prospective in nature.
MARBLE CENTRE INTERNATIONAL P LTD Vs The ACIT
(2020) TaxCorp(LJ) 22724 (HC-KARNATKATA) · Sections 132, 132B
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HC - Assessee's claim allowed towards diminution in the value of investment in the sister-concern as a capital loss u/s 46(2) also allowed claim of bad-debts u/s. 36(1)(vii) towards advances made to its sister-concern.
M/S ABB LTD Vs The CIT, The ACIT
(2020) TaxCorp(LJ) 22723 (HC-KARNATKATA)
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HC - ATMs constitute computers, eligible for 60% depreciation.
NCR CORPORATION PVT LTD Vs CIT, ACIT
(2020) TaxCorp(LJ) 22722 (HC-KARNATKATA)
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HC - Non-compete fees paid to the employees falls under the term 'salary' or 'profit in lieu of salary', taxable only in USA as per Article 16 of India-USA DTAA and not business income u/s. 28(va). Indian company not liable to TDS.
SASKEN COMMUNICATION TECHNOLOGIES LTD Vs THE ITO
(2020) TaxCorp(LJ) 22721 (HC-KARNATKATA)
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Prior to introduction of Finance Bill, 2018 by which provisions of the Act have been amended to provide for taxability of in cases where stock in trade is converted into capital asset, there was no provision to tax the same.
KEMFIN SERVICES PVT. LTD Vs The ACIT
(2020) TaxCorp(LJ) 22720 (HC-KARNATKATA)
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It is axiomatic that property sold is referred to as original asset and the original asset is prescribed as buildings and lands appurtenant thereto and being a residential house. The expression a residential house therefore, includes building or lands appurtenant thereto. It cannot be construed as one residential house. It is well settled in law that an Amending Act may be purely clarificatory in nature intended to clear a meaning of a provision of the principal Act, which was already implicit.
ARUN K THIAGARAJAN VERSUS COMMISSIONER OF INCOME-TAX (APPEALS) , THE DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE 3 (1)
(2020) TaxCorp(LJ) 22698 (HC-KARNATKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=83014&Category=Judgment&CategoryType=Zip
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While interpreting Section 54F has held that provisions of Section 54F is a beneficial provision for promoting construction of residential houses and has to be construed liberally. Kerala, Delhi, Allahabad, Calcutta and Hyderabad High Courts have taken a view that usage of the property has to be considered in determining whether it is a residential property or a commercial property and Madras High Court in C.H.KESVA RAO has held that expression residence implies some sought of permanency and cannot be equated to the expression temporary stay as a lodger.
SHRI. NAVIN JOLLY C/O NAVIN ARCHITECT PRIVATE LIMITED VERSUS THE INCOME-TAX OFFICER, WARD 11 (1)
(2020) TaxCorp(LJ) 22697 (HC-KARNATKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=83015&Category=Judgment&CategoryType=Zip
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Asessee has offered a sum of ₹ 50 Lakhs on 15.03.2007 towards the advance tax payable for the Assessment year 2007-08. It is also pertinent to mention here that prior to seizure of the cash, the assessee had paid advance tax in four installments on 15.06.2006, 14.09.2006, 14.12.2006 and 08.03.2007, which is evident from statement of total income. Department did not adjust the aforesaid amount even though the cash was available with the department.
M/S. MARBLE CENTRE INTERNATIONAL P. LTD. VERSUS THE ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -1 (2) , BENGALURU
(2020) TaxCorp(LJ) 22681 (HC-KARNATKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=82995&Category=Judgment&CategoryType=Zip
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From perusal of the order passed by the assessing officer, it is evident that assessing officer has not examined the fact whether or not the assessee has entered an amount as written off as bad debt. From the order passed by the Commissioner of Income Tax (Appeals) also it is evident that he has not recorded a specific finding that the assessee had written off the debt in the books of account.
THE COMMISSIONER OF INCOME TAX LTU, THE ASST. COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-19 NEW DELHI. VERSUS M/S. ABB LTD. (SUCCESSOR OF ABB INSTRUMENTATION LTD.)
(2020) TaxCorp(LJ) 22661 (HC-KARNATKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=82967&Category=Judgment&CategoryType=Zip
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Clause 3 of the Memorandum of Association which uses the expression “primarily for the benefit of Catholics”. Others may be admitted without distinction of caste and creed” has been thoroughly examined by the Department several time and only on the satisfaction, the Tribunal granted exemption under Section 80G(5)(iii) of the Act to the Assessee. No explanation is forthcoming on behalf of the appellants – Revenue as to why the exemption was granted to the respondent - Society for the previous years from 1963 till the year 2009.
THE DIRECTOR OF INCOME – TAX EXEMPTIONS, BENGALURU. VERSUS C.B.C.I. SOCIETY FOR MEDICAL EDUCATION, BENGALURU
(2020) TaxCorp(LJ) 22628 (HC-KARNATKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=82945&Category=Judgment&CategoryType=Zip
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The Supreme Court in ASSAM TEXT BOOK PRODUCTION AND PUBLICATION CORPORATION LTD. has interpreted the definition of an educational institution and it is evident that all State controlled educational committees / boards that have been constituted to implement the educational policy of the States have to be treated as educational institutions.
THE DIRECTOR OF INCOME-TAX EXEMPTIONS, BANGALORE., THE ASSISTANT DIRECTOR OF INCOME-TAX (EXEMPTIONS) CIRCLE – 17 (1) BANGALORE. VERSUS KARNATAKA TEXT BOOK SOCIETY
(2020) TaxCorp(LJ) 22537 (HC-KARNATKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=82924&Category=Judgment&CategoryType=Zip
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