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ITAT - Even where non-resident is not having PAN but the payment is covered u/s 115A(1)(b), special rate of TDS i.e. 11.33% was applicable and TDS @20% is not warranted.
Quick Flight Limited Versus ITO (International Taxation), Baroda
(2017) TaxCorp(LJ) 11877 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=54033&Category=ITAT&CategoryType=Zip
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ITAT - No TDS u/s 195 as payment to Non-Resident for online access to the database system was not in the nature of royalty.
Income Tax Officer (International Taxation) -I, Ahmedabad Versus Cadila Healthcare Limited
(2016) TaxCorp(LJ) 11858 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=53980&Category=ITAT&CategoryType=Zip
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ITAT - In the cases of public sector companies, even as all or majority of shareholdings may be by the Union or State Governments, these companies, for that reason alone, cannot be said to be associated enterprises for the purposes of Section 92A.
Deputy Commissioner of Income Tax Circle-4, Ahmedabad Versus Hazira LNG Private Limited
(2016) TaxCorp(LJ) 11856 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=53981&Category=ITAT&CategoryType=Zip
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ITAT - Since assessee’s interest free funds were “far in excess” of investments yielding exempt income, it can be presumed that investment were made from interest free funds even though assessee has raised a loan at the same time. Interest disallowance u/s 14A deleted as end-use trail not necessary.
Shreno Limited vs. ACIT
(2017) TaxCorp(LJ) 11834 (ITAT-AHMEDABAD) · Section. 14A
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ITAT - Merely because assessee had claimed expenditure which was not accepted or not acceptable to Revenue that by itself would not attract a penalty u/s 271(1)(c). No penalty proceedings u/s 271(1)(c) for disallowance of interest not being eligible for deduction u/s 43B(e).
DCIT, Circle-1, Surat. Versus Parinay Organizers Pvt. Ltd., c/o Mukesh N. Desai
(2017) TaxCorp(LJ) 11831 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=53930&Category=ITAT&CategoryType=Zip
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ITAT - No penalty u/s 271(1)(c) as the assessee had only committed an undoubtful bona fide error and it certainly had no intention of concealing any income or furnishing inaccurate particulars of income.
M/s Cera Sanitaryware Ltd. Versus ACIT (OSD) , Range-1, Ahmedabad
(2017) TaxCorp(LJ) 11830 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=53932&Category=ITAT&CategoryType=Zip
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ITAT - Assessee has utilized other funds (apart from sale consideration) for constructing residential house, for this reason only he cannot be denied deduction u/s 54.
Bhailalbhai N. Patel Versus DCIT, Circle-4, Baroda
(2017) TaxCorp(LJ) 11803 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=53910&Category=ITAT&CategoryType=Zip
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ITAT - Under section 48, full consideration to determine capital gains does not refer to market value but only to consideration referred to in sale deed.
Assistant Commissioner of Income-tax, Circle-12, Ahmedabad v. Akash Association
(2017) TaxCorp(LJ) 11778 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=51523&Category=ITAT&CategoryType=Zip
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ITAT - Reduction in share capital and buy back are essentially the same and neither result in a benefit of enduring nature, hence are revenue expenses.
Vibgyor Scientific Research Pvt. Ltd. Versus The DCIT (OSD), Circle-8, Ahmedabad
(2016) TaxCorp(LJ) 11758 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=53750&Category=ITAT&CategoryType=Zip
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ITAT - Depreciation available on goodwill claimed during assessment vide a revised computation of income without filing revised return of income.
DCIT. Vs. Zydus Wellness Ltd.
(2016) TaxCorp(LJ) 11738 (ITAT-AHMEDABAD)
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ITAT - Where estimation of GP has been made on the unaccounted sales it covers unexplained expenditure also to this extent, therefore no addition u/s 69C.
M/s Choksi Metal Refinery Versus DCIT, Circle-2, Surat
(2016) TaxCorp(LJ) 11644 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=53508&Category=ITAT&CategoryType=Zip
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ITAT - There is no concrete positive evidence against the assessee exhibiting unexplained investment, except unregistered sale deed, which does not confer any title. Addition might have been confirmed, but this type of evidence would not be sufficient to visit the assessee with penalty under section 271(1)(c).
Shri Nilesh R. Gupta Versus ITO, Ward-1 (3), Bhavnagar.
(2016) TaxCorp(LJ) 11606 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=52462&Category=ITAT&CategoryType=Zip
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ITAT - For the purpose of depreciation on electrical fittings, "electrical fittings" include electrical wiring, switches, sockets, other fittings and fans, etc.
Market Creators Limited Versus ITO, Ward 4 (1), Baroda
(2016) TaxCorp(LJ) 11591 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=52404&Category=ITAT&CategoryType=Zip
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ITAT - Assessee discharged his burden by providing necessary cash flow statements and demonstrated that the transaction in question was reflected in the wealthtax return, addition on unaccounted cash balance cannot be made.
CIMS Hospital Pvt Ltd, Dr. Keyur Harsadrai Parikh Versus DCIT, Central Circle-2 (3), Ahmedabad, ACIT, Central Circle-2 (3), Ahmedabad
(2016) TaxCorp(LJ) 11590 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=52407&Category=ITAT&CategoryType=Zip
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ITAT - Minor contribution from non-members which has been offered for taxation, would not destroy the principle of mutuality in case of a society.
The Gujarat Institute of Housing and Estate Developers Versus DDIT, Exemption Ahmedabad
(2016) TaxCorp(LJ) 11554 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=52274&Category=ITAT&CategoryType=Zip
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ITAT - Addition u/s 68 cannot be made on the basis of loose paper in coded word as explanation given by the assessee is a plausible one. It cannot be brushed aside without giving any specific reasons.
Shri Sanjay R. Shah Versus ITO, Ward-3 (4), Surat.
(2016) TaxCorp(LJ) 11553 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=51098&Category=ITAT&CategoryType=Zip
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Interplay between Article 9 of the DTAA and Transfer Pricing law in the Act explained. While Article 9 is an enabling provision, the TP mechanism under the domestic law is the machinery provision. There is no occasion to read Article 9 as confined to enabling ALP adjustment in respect of only domestic entities. The mere fact that the OECD Commentary etc give examples related to economic double taxation situations does not imply that the Article 9 (1) cannot be applied to other situations
Shell Global Solutions International BV vs. DDIT
(2016) TaxCorp(LJ) 11542 (ITAT-AHMEDABAD)
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ITAT - While the relief in the cases of economic double taxation due to application of arm’s length standards under article 9(1) is available under article 9(2), no such relief is available, under article 9(2), in respect of the juridical double taxation caused by the application of arm’s length standards.
Shell Global Solutions International BV Versus Deputy Director of Income Tax (International Taxation) -1, Ahmedabad
(2016) TaxCorp(LJ) 11523 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=52172&Category=ITAT&CategoryType=Zip
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ITAT - Payment to brothers for getting the premises vacated is allowable as cost of improvement on sale of house property u/s 48.
Nanubhai Keshavlal Chokshi HUF vs. ITO
(2016) TaxCorp(LJ) 11517 (ITAT-AHMEDABAD)
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ITAT - Sec 43B does not have a direct link of the amount of tax to be passed through P&L account. ‘Unpaid service tax’ not routed through P&L a/c disallowed u/s 43B.
Madhya Gujarat Viz. Co. Ltd. Vs. ITO
(2016) TaxCorp(LJ) 11506 (ITAT-AHMEDABAD) · Section. 43B
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