-
The income on sale of shares has to be regarded as LTCG.
United Spirits Limited Vs The Joint Commissioner of Income Tax
(2021) TaxCorp(LJ) 26192 (ITAT-BANGALORE)
-
Only because a registered sale deed has not been executed, advance received for the sale of land on the basis of MOU cannot be treated as short term capital gain.
SRI TOBBY SIMON
(2021) TaxCorp(LJ) 26061 (ITAT-BANGALORE) · 2(47)
-
Since there is delay in filing appeal before the CIT(A) due to shifting of registered office and factory of assessee, therefore for such reasonable cause the aforesaid delay can be condoned.
IMAGE LABELS PVT LTD
(2021) TaxCorp(LJ) 26054 (ITAT-BANGALORE) · Sections 200(3) & 243E
-
Doctrine of merger applies only in respect of such items which were subject matter of appeal and not in respect of those which were not.
Karnataka Power Corporation Ltd. Vs The ACIT
(2021) TaxCorp(LJ) 26044 (ITAT-BANGALORE) · Section 154
-
There is no treaty between India and Taiwan, and therefore, FTC should be availed in accordance with section 91.
ITTIAM Systems Pvt. Ltd Vs The ITO
(2021) TaxCorp(LJ) 26035 (ITAT-BANGALORE) · Section 91
-
The expenditure incurred for the purpose of CSR is not deemed to have incurred for the purpose of business and hence cannot be allowed u/s 37(1).
M/s. FNF India Private Ltd. Vs The Assistant Commissioner of Income Tax
(2021) TaxCorp(LJ) 24983 (ITAT-BANGALORE) · Section 80G
-
Section 54F is beneficial provision and should be interpreted liberally and the Assessing Officer has to see the end utilization of net sale consideration in the way prescribed in Section 54F.
Shri Ramaiah Dorairaj Vs ITO
(2021) TaxCorp(LJ) 24929 (ITAT-BANGALORE) · Section 54F
-
It is not possible to take two different stands one in income tax proceedings and other in wealth tax proceedings. A distinction is required to be drawn between the two activities i.e., let out or commercial exploitation.
M/s. Shastha Pharma Laboratories Pvt. Ltd. Vs Wealth Tax Officer
(2021) TaxCorp(LJ) 24927 (ITAT-BANGALORE) · Section 24
-
Purpose of deduction of tax at source is not to collect a sum which is not a tax levied under the Act, it is to facilitate the collection of tax lawfully leviable under the Act.
Deputy Commissioner of Income-tax Vs M/s. Coffeeday Enterprises Ltd.
(2020) TaxCorp(LJ) 24858 (ITAT-BANGALORE) · Section 195
-
There is no estoppel against law if the assessee proves that any transaction does not belong to it, then no addition is called for acceptance of any addition, which is against law, will not bar the assessee from contesting the same.
M/s Veerabhadrappa Vs The Asst. Commissioner of Income Tax
(2020) TaxCorp(LJ) 24845 (ITAT-BANGALORE)
-
The question of validity of rectification proceedings goes to the root of the matter and thus, CIT(A) is incorrect in holding the same as general in nature.
M/s. ETS Lindgren Engineering India Pvt. Ltd. Vs ITO
(2020) TaxCorp(LJ) 24830 (ITAT-BANGALORE)
-
Since Revenue was not timely informed about merger, therefore assessment of non-existent company is curable.
Serendipity Infolabs Pvt. Ltd. Vs The Dy. Commissioner of Income Tax
(2020) TaxCorp(LJ) 24828 (ITAT-BANGALORE)
-
Cash basis for taxing FTS under India-Germany DTAA is permitted.
M/s. ABB AG Vs Deputy Commissioner of Income-tax (International Taxation)
(2020) TaxCorp(LJ) 24685 (ITAT-BANGALORE)
-
ITAT - The notice of demand issued along with the draft assessment order is a legal nullity and does not exist in the eyes of law, since no valid demand could be raised under the draft assessment order. A document, which is held to be a legal nullity, cannot vitiate the assessment proceeding and the assessment order.
M/S. THE HIMALAYA DRUG COMPANY MAKALI, BENGALURU VERSUS ACIT CENTRAL CIRCLE-1 (1) BENGALURU
(2020) TaxCorp(LJ) 24668 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=86835&Category=ITAT&CategoryType=Zip
-
Section 72(1)(i) mandate set off of business loss with business income of a subsequent year. It is a statutory compulsion. It does not give any option to assessee to set off or not to set off. In other words, whether or not the assessee has set off the losses in the return of income, the income tax authorities are required to give effect to section 72(1)(i) and set off such losses.
M/s.Mistral Solutions Pvt.Ltd. Vs The Dy.Commissioner of Income-tax
(2020) TaxCorp(LJ) 24665 (ITAT-BANGALORE) · Section 72
-
If the assessee files some application for correcting the return filed or making amends therein, it would not mean that he has filed a revised return. It will retain the character of the original return.
M/s. TRC Engineering India Pvt. Ltd. Vs ITO
(2020) TaxCorp(LJ) 24637 (ITAT-BANGALORE)
-
As per CEC's report, compensatory payments are required to be made by the leaseholders for repairing the environmental depredation brought in due to illegal mining and overburden dumps beyond the sanctioned leased areas.
M/s Ramgad Minerals & Mining Limited Vs ACIT
(2020) TaxCorp(LJ) 24635 (ITAT-BANGALORE) · Section 37
-
Once CIT(A) rejected application of sec.50C, he cannot rely on DVO report to hold that assessee adopted a colourable device to avoid tax.
Smt. Sunita S Bathija Vs The Addl. Commissioner of Income-tax
(2020) TaxCorp(LJ) 24615 (ITAT-BANGALORE) · Section 50C
-
The book profit computation escaped attention, since the tax was paid as per normal computation of total income, and only during scrutiny assessment it came to notice that book profit is more than normal profit.
M/s. Vanshee Builders & Developers Private Limited Vs Deputy Commissioner of Income-tax
(2020) TaxCorp(LJ) 24568 (ITAT-BANGALORE) · Section 271(1)(c)
-
Where income is applied to discharge an obligation, after such income reaches assessee, it is not deductible from total income.
M/s. Karnataka State Co-operative Federation Limited Vs Assistant Commissioner of Income Tax
(2020) TaxCorp(LJ) 24567 (ITAT-BANGALORE)
Headnote lines are open to everyone. The full headnote and the judgment text open with a subscription — see plans or sign in.