-
As decided in TATA TELESERVICES VERSUS UNION OF INDIA & 1 Section 201(3) has amended by Finance Act No. 2 of 2014 shall not be applicable retrospectively and therefore, no order u/s 201(1) could be passed for which limitation had already expired prior to amended section 201(3) as amended Finance Act 3 of 2014 came into force.
HCL TECHNOLOGIES LTD VERSUS ACIT (TDS) , NOIDA
(2020) TaxCorp(LJ) 22954 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=84121&Category=ITAT&CategoryType=Zip
-
Once it is found that assessment is framed in the name of non-existing entity, it does not remain a procedural irregularity of the nature which could be cured u/s.292B, Hence, the Assessment proceedings as well as the Assessment order itself are void ab initio.
Genpact India Pvt. Ltd. Vs DCIT
(2020) TaxCorp(LJ) 22949 (ITAT-DELHI)
-
Once the asset has entered into block of assets and depreciation has been allowed in the succeeding year, the WDV of such asset is to be accepted as sacrosanct and depreciation has to be allowed on the same.
Kay Jay Auto Ltd. Vs The ACIT
(2020) TaxCorp(LJ) 22948 (ITAT-DELHI)
-
In the instant case, the AO had initiated proceedings u/s 147 for escapement of income which was the returned income filed prior to issue of notice u/s 148 in the belated return and as well as in the return filed in response to notice u/s 148 and since the AO has accepted the said returned income and proceeded to make various other additions without issuing fresh notice u/s 147/148, therefore, we are of the considered opinion that the AO has exceeded his jurisdiction in reassessing issues other than the issues in respect of which the proceedings are initiated and reasons for the initiation of those proceedings cease to survive.
RAJ BALA, C/O KAPIL GOEL, ADVOCATE, JOGINDER DAHIYA, C/O KAPIL GOEL, ADVOCATE, VERSUS ITO, WARD-21 (4) , NEW DELHI.
(2020) TaxCorp(LJ) 22941 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=84109&Category=ITAT&CategoryType=Zip
-
The evidences need to be seen in their entirety as the burden of proving that the foreign assessee has a PE in India and consequently it has to be taxed on the business generated by such PE is initially on the Revenue. Such is the proposition laid down by Hon'ble Supreme Court in ADIT vs E-funds IT Solutions Inc. In such a scenario, the question of taxability of service PE in India of the assessee company is answered in the negative. The evidences have also been gone into by the CIT(A), who has given detailed finding.
THE DDIT, CIRCLE-2 (2) , NEW DELHI. VERSUS M/S. YUM! RESTAURANTS (ASIA) PTE. LTD., C/O-M. K. MANDAL AND ASSOCIATE, NEW DELHI
(2020) TaxCorp(LJ) 22936 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=84084&Category=ITAT&CategoryType=Zip
-
The facts are very clear that the assessee filed return on 02.01.2013, which is beyond the due date prescribed u/s 139(1). In the return of income the assessee has declared loss consisting of business loss for the year and unabsorbed depreciation. As per the provision of section 139(3) to carry forward business loss u/s 72(1), assessee should have filed its return of income in time allowed u/s 139(1).
ADDL. CIT, SPECIAL RANGE-6, NEW DELHI VERSUS NORTEL NETWORKS INDIA PVT. LTD
(2020) TaxCorp(LJ) 22933 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=84091&Category=ITAT&CategoryType=Zip
-
Assessee is allowed to claim depreciation on software developed to maintain national IT website.
Taxman Publications Pvt. Ltd. Vs ACIT
(2020) TaxCorp(LJ) 22930 (ITAT-DELHI)
-
It is settled law that the taxation of subsidy by whatever name called, is determined by the purpose for which the subsidy is granted and not the manner in which the subsidy is received.
Dy. CIT Vs M/s Nestle India Ltd.
(2020) TaxCorp(LJ) 22928 (ITAT-DELHI)
-
All the AEs did not constitute a PE in India and hence, the payments were not taxable in India.
M/s. Honda Cars India Ltd. Vs DCIT
(2020) TaxCorp(LJ) 22926 (ITAT-DELHI) · Section 40(a)(i)
-
Use of the building is incidental to the main object of leasing of workstation by the assessee. As noted from the brief facts of the case that the assessee has given ground and first floor of the building on the rent to another party separately and income from which has been offered by the assessee under the head income from the house property and which has not been disturbed by the Assessing Officer.
M/S. TELEKON MEDIA INDIA PVT. LTD. VERSUS ITO, WARD-25 (2), NEW DELHI
(2020) TaxCorp(LJ) 22913 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=84074&Category=ITAT&CategoryType=Zip
-
Wrong mention of section would not vitiate the entire assessment. Moreover, the first appellate authority, at para 4.3 of his order, has also acknowledged this inadvertent error. No merit in this application moved by the assessee. Accordingly, the same stands rejected.
THE A.C.I.T CIRCLE 14 (2) NEW DELHI VERSUS M/S KMG ROLLING PVT LTD
(2020) TaxCorp(LJ) 22910 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=84065&Category=ITAT&CategoryType=Zip
-
CIT(A) have taken a wrong view by holding that the assessee cannot grow tax-free income u/ss 10(34) and 10(35) of the Acts unless additional tax has been paid as per the provisions of Sections 115-0 and 115-R of the Act and as such the exemption claimed u/ss 10(34) and 10(35) is to be allowed only if the dividend income distributed as per the provisions of Sections 115-O and 115-R whereas, the conditions laid down u/s 115-O to avail the exemption u/s 10(34), is to be complied with at the level of venture capital undertaking and not at the stage when the investor, the assessee in this case, received the dividend income from VCF.
M/S JAPAN INTERNATIONAL CO-OPERATION AGENCY [JBIC] VERSUS THE DY. C.I.T CIRCLE 3 (1) NEW DELHI
(2020) TaxCorp(LJ) 22909 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=84066&Category=ITAT&CategoryType=Zip
-
Assessee is eligible for exemption under Section 11 and 12 of the Act and the activities of the assessee are not hit by proviso to Section 2(15) of the Act.
THE ASSISTANT COMMISSIONER OF INCOME TAX (EXEMPTION) CIRCLE : 2 (1) , NEW DELHI. VERSUS NEW DELHI YOUNG MEN’S CHRISTIAN ASSOCIATION
(2020) TaxCorp(LJ) 22895 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=84034&Category=ITAT&CategoryType=Zip
-
It is apparent that outstanding receivable from the above party debited by admass Builders to the account of the assessee towards various charges. The gross sale price of the above project has already been offered for taxation in the earlier year.
SUPREME BUILD CAP PRIVATE LIMITED VERSUS ACIT, CENTRAL CIRCLE-05, NEW DELHI
(2020) TaxCorp(LJ) 22894 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=84035&Category=ITAT&CategoryType=Zip
-
Interest on saving bank account of the members is business income and cannot be termed as income from other sources as it has direct nexus of this income with the activity of business of providing credit facilities to its members who are banks.
The Bharat Co-Operative Thrift & Credit Society Ltd. ITO
(2020) TaxCorp(LJ) 22877 (ITAT-DELHI) · Section 80P
-
For the taxability of service PE, the expenses of salary cost needs to be deducted from the business income generated by the PE in India, which in the present case would be NIL.
The DDIT Vs M/s. Yum! Restaurants (Asia) Pte. Ltd.
(2020) TaxCorp(LJ) 22862 (ITAT-DELHI)
-
Reasons recorded by the AO that the assessee company received share capital from the entry operator proved to be incorrect based on the facts. Attributing the entry of ₹ 7,00,000 /- to the share capital of the company by the AO to the increased share capital of ₹ 99,00,000 /- found to be incorrect based on the details of the share capital received by the company from the five entities.
ADARSH FOOD PRODUCTS PVT. LTD., C/O M/S RADHESHYAM SHARMA AND CO. VERSUS INCOME TAX OFFICER, WARD-1 (2), NEW DELHI
(2020) TaxCorp(LJ) 22860 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=83980&Category=ITAT&CategoryType=Zip
-
The undisputed fact is that this is not the first year of business of the assessee. It is also not in dispute that the subsidiary companies of the assessee are also engaged in the same business of production, generation, transmission and distribution and supply of electricity.
M/S ACB [INDIA] POWER LTD. VERSUS THE DY. C.I.T. CIRCLE – 1 (2) NEW DELHI
(2020) TaxCorp(LJ) 22858 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=83983&Category=ITAT&CategoryType=Zip
-
In this case, the source of money lent is loan from another group company, group company received money from the assessee itself, the transactions is duly reflected in the balance sheets of respective companies. Even the assessing officer himself has stated that source of money lent to the assessee is the assessee itself.
SUPREME BUILD-CAP PVT. LTD. VERSUS ACIT, CENTRAL CIRCLE–05, NEW DELHI.
(2020) TaxCorp(LJ) 22850 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=83963&Category=ITAT&CategoryType=Zip
-
ITAT - A Trust is eligible to carry forward deficit of current year to be set off against expenditure of subsequent year.
Income Tax Officer Vs Dr. Bhai Mohan Singh Foundation
(2020) TaxCorp(LJ) 22836 (ITAT-DELHI)
Headnote lines are open to everyone. The full headnote and the judgment text open with a subscription — see plans or sign in.