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ITAT - Depreciation available on ‘unregistered’ trademark as the same not contingent on registration.
Trio Elevators Company (India) Ltd. Vs. ACIT
(2016) TaxCorp(LJ) 10007 (ITAT-AHMEDABAD) · Section. 32
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ITAT - Sec 40A(2) inapplicable to directors’ foreign travel expenses as payment not to ‘specified persons’.
Ideal Sheet Metal Stamping & Pressing Pvt. Ltd. vs. ACIT
(2016) TaxCorp(LJ) 9970 (ITAT-AHMEDABAD) · Section. 40A(2)
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S. 80IB(10) Deduction allowed on additional business income declared post search
Madhav Corporation vs. ACIT
(2016) TaxCorp(LJ) 9904 (ITAT-AHMEDABAD) · Section. 80IB(10)
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Non TDS deduction disallowance not sustainable if payee discharges his tax liability
Kurian Ulahannan Moothukuzhiyil vs. ITO
(2016) TaxCorp(LJ) 9903 (ITAT-AHMEDABAD)
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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)
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S. 268A: In view of CBDT's Circular no. 21/ 2015 dated 10.12.2015 appeals of the department where the monetary limit does not exceed Rs. 10 lakh have to be dismissed as a legal nullity. CBDT's decision termed as "paradigm shift", "unprecedented" and "possibly a game changing initiative heralding a new era in thoughtful litigation management"
DCIT vs. Soma Textiles & Industries Ltd
(2015) TaxCorp(LJ) 9700 (ITAT-AHMEDABAD) · Section 268A
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ITAT - If Assessing Officer felt that assessee should do business in a particular way and should utilize cash balance in hand for discharging its liability is not correct view.
Deputy Commissioner of Income-tax, Circle-2, Surat v. Ashok Weaving Works
(2015) TaxCorp(LJ) 9623 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=42175&Category=ITAT&CategoryType=Zip
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ITAT - After initiation of penalty proceedings u/s 271AAA, no penalty under sec.271(1)(c).
Dr. Naman A. Shastri v. Assistant Commissioner of Income-tax, Central Circle 2 (3), Ahmedabad
(2015) TaxCorp(LJ) 9618 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=43547&Category=ITAT&CategoryType=Zip
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ITAT - No TDS u/s 195 on payments made to entities based in US and Canada towards bio- analytical services on samples.
ITO vs. B A Research India Pvt Ltd
(2015) TaxCorp(LJ) 9588 (ITAT-AHMEDABAD) · Section 195
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Entire law on transfer pricing implications of (i) allowing excess credit to AE's on account of sale of goods and (ii) issue of corporate guarantee to AEs (after insertion of Explanation i(c) to s. 92B by FA 2012) explained
Micro Ink Limited vs. ACIT
(2015) TaxCorp(LJ) 9578 (ITAT-AHMEDABAD) · Section 92B
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ITAT - Amount received by assessee for confirming sale deed is taxable under ‘income from other sources’.
Maheshkumar R. Patel vs. ITO
(2015) TaxCorp(LJ) 9575 (ITAT-AHMEDABAD) · Section 56(2)(vii)
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ITAT - Services, being managerial or consultancy in nature, cannot be taxed as FTS unless it involves transmit of technology. BRP not FTS under India-Netherlands DTAA, absent ‘make available’ of technology.
Shell Global Solutions International BV vs. ITO
(2015) TaxCorp(LJ) 9538 (ITAT-AHMEDABAD)
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ITAT - There was no intention on the part of assessee-deductor to furnish wrong PAN details. The system is erroneous to the extent if it restricts the deductor to revise its TDS return/statement within some corners. Assessee-deductor not in default u/s 201(1)/(1A).
Oil &Natural Gas Corporation Ltd vs DCIT
(2015) TaxCorp(LJ) 9523 (ITAT-AHMEDABAD) · Section 206AA
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When the transaction has been duly accounted for and the profit/loss has accrued to the concerned parties in whose names transactions have been closed, there cannot be any basis or justification for considering those profit/loss in the case of the assessee on the basis of mere presumption or suspicion.
ACIT vs. Shri Amar Mukesh Shah Tanki Chowk
(2015) TaxCorp(LJ) 9360 (ITAT-AHMEDABAD)
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ITAT - In the absence of finding that the amount which was previously withdrawn by the assessee had been utilized for any other purpose merely on the basis of conjecture that the amount might have been utilized for any other purpose and was not available with the assessee for making the deposits, addition on account of undisclosed sources deleted.
Sudhi rbhai Pravinkant Thaker vs. ITO
(2015) TaxCorp(LJ) 9359 (ITAT-AHMEDABAD)
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ITAT - As per Sec 271AAA(3), no penalty u/s 271(1)(c) can be imposed in respect of undisclosed income referred to in 271AAA(1). Situations in which provisions of Sec 271AAA and the provisions of Sec 271(1)(c) can apply are inherently mutually exclusive.
Naman A Shastri vs. ACIT
(2015) TaxCorp(LJ) 9022 (ITAT-AHMEDABAD) · Section. 271(1)(c)
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TDS u/194C deductible when contract amount exceeds thrash hold limit
ITO v Someshwar Real Estate Pvt. Ltd.
(2015) TaxCorp(LJ) 8966 (ITAT-AHMEDABAD) · Section 194C
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ITAT - Allows deduction of the refunded excess salary received in earlier years for calculation of salary 'due' for AY 2008-09.
Vrajeshwari B Parikh vs. ITO
(2015) TaxCorp(LJ) 8881 (ITAT-AHMEDABAD)
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ITAT - Quantum and penalty proceedings under the Act stand on a different footing and each and every disallowance/addition does not lead to automatic imposition of penalty.
Income-tax Officer Vs. M/s. Besto Tradelink (P) Ltd.
(2015) TaxCorp(LJ) 8829 (ITAT-AHMEDABAD)
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ITAT - Registration of assessee as a Small Scale Industrial Undertaking with District Industries Commissioner is not a pre-condition for deduction under section 80-IA.
Deputy Commissioner of Income-tax, Cir- 1 (2), Baroda v. Amigo Brushes (P.) Ltd.
(2015) TaxCorp(LJ) 8676 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=41559&Category=ITAT&CategoryType=Zip
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