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ITAT - Assessee is a distinct and separate legal/juristic entity and funds of the assessee also belong to assessee, income of A.P. Pollution Control Board has to be considered as income/receipt of the board and not of the state govt
AP. Pollution Control Board, Hyderabad Versus Dy. Director of Income-tax (E)
(2014) TaxCorp(LJ) 4870 (ITAT-HYDERABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=39152&Category=ITAT&CategoryType=Zip
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ITAT - When the provisions of sec. 271D/269SS do not make any distinction whether a transaction is genuine or not, it cannot be read into the statutory provisions; obtaining of cash loans attracts penalty u/s 271D
Smt. B. Madhavi, Hyderabad Versus Jt. Commissioner of Income tax
(2014) TaxCorp(LJ) 4856 (ITAT-HYDERABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=39141&Category=ITAT&CategoryType=Zip
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ITAT - For sec. 69, Asset Side of Balance Sheet cannot be isolated from Liability side
M/s. Manas Greenland Pvt. Ltd. Vs. ITO (OSD)
(2014) TaxCorp(LJ) 4802 (ITAT-HYDERABAD)
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ITAT - The Revenue generating activity of the assessee was to start only after the completion of the construction of the road, and the construction of the road being the basic set up or the profit making apparatus of the business of the assessee, the business of the assessee cannot be said to have been set up unless and until the construction of road is complete. Expense during road construction period not available
Western UP Tollway Ltd. vs. ACIT
(2014) TaxCorp(LJ) 4800 (ITAT-HYDERABAD)
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ITAT - Sec 80IB deduction available on excise duty refund received by assessee pursuant to Govt. incentive scheme
DCIT vs Coromandel International Ltd.
(2014) TaxCorp(LJ) 4681 (ITAT-HYDERABAD) · Section. 80IB
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S. 80-IB: Excise duty refund is "derived" from the undertaking. Liberty India 316 ITR 218 (SC) is distinguishable
DCIT. vs. Coromandel International Ltd.
(2014) TaxCorp(LJ) 4596 (ITAT-HYDERABAD) · Section. 80-IB
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ITAT - DIT(E) was wholly bent on refusing registration on various extraneous considerations and exceeded jurisdiction by not following jurisdictional HC ruling
Agricultural Market Committee, Achampet vs DIT(E)
(2014) TaxCorp(LJ) 4586 (ITAT-HYDERABAD)
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ITAT - Passing of bundle of rights in land to the consortium enabling enjoyment of immovable property constitutes 'transfer' u/s 2(47)(vi)
Andhra Networks Limited vs DCFT
(2014) TaxCorp(LJ) 4579 (ITAT-HYDERABAD)
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S. 2(47)/ 53A: Mere handing over possession pursuant to development agreement does not result in transfer if developer has not taken steps for development of property
ACIT. vs. B. Rajamallu
(2014) TaxCorp(LJ) 4567 (ITAT-HYDERABAD) · Section. 2(47), 53A
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For constituting a long-term capital asset, date of allotment of property and not date of registration to be considered. Benevolent approach should be adopted and not a hyper-technical or legalistic one
Andhra Networks Limited vs. DCIT
(2014) TaxCorp(LJ) 4566 (ITAT-HYDERABAD)
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ITAT - No Sec 195 TDS on payments made to foreign entities for complete source code of software as not being royalty but copyright
ACIT. vs. Bartronics India Ltd.
(2014) TaxCorp(LJ) 4554 (ITAT-HYDERABAD)
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Consideration for use of software is not assessable as royalty under Article 12 of DTAA and s. 9(1)(vi)
ADIT vs. Bartronics India Ltd
(2014) TaxCorp(LJ) 4535 (ITAT-HYDERABAD) · Section 9(1)(vi)
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ITAT - Pre-clinical research payments are in the nature of FTS
Dr Reddy’s Research Foundation vs. DCIT
(2014) TaxCorp(LJ) 4523 (ITAT-HYDERABAD)
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ITAT - Assessee entitled to deduction on expenditure of capital nature when used for scientific research relating to assessee's business
DCIT vs. AVRA Laboratories P. Ltd.
(2014) TaxCorp(LJ) 4519 (ITAT-HYDERABAD)
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Whether when the Tribunal has decided that there is no violation of provisions of section 11(5) by the assessee, the DIT(E) can reopen the same for cancellation of registration
NIMMAGADDA FOUNDATION Vs. DIT
(2014) TaxCorp(LJ) 4339 (ITAT-HYDERABAD) · Income Tax - Sections 11, 11(5), 12AA, 13(1)(d), 154
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Sec 292BB would operate prospectively as it curtails the right of the assessee
M/s. Ghanshyamdas Gems and Jewels v/s DCIT
(2014) TaxCorp(LJ) 4321 (ITAT-HYDERABAD) · Section. 292BB
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Law on whether income from rent for lease of space in technology park and income from operation and management of facilities is assessable as "business profits" or "income from house property" explained
K. Raheja IT Park (Hyderabad) P. Ltd. vs. CIT
(2014) TaxCorp(LJ) 4315 (ITAT-HYDERABAD)
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The only requirement of s. 249(4) is payment of tax due on returned income. There is no time limit prescribed for payment of such taxes. The delay in filing an appeal after payment of SA tax can be condoned
Kanchenjunga Greenlands Pvt. Ltd. vs. DCIT
(2014) TaxCorp(LJ) 4301 (ITAT-HYDERABAD) · Section. 249(4)
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S. 271(1)(c): Apart from falsity of the explanation, the department must have cogent material or evidence from which it could be inferred that assessee has consciously concealed particulars of income or deliberately furnished inaccurate particulars of income
G. K. Properties Pvt. Limited vs. ITO
(2014) TaxCorp(LJ) 4296 (ITAT-HYDERABAD) · Section. 271(1)(c)
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Fraud in determination of LIBOR/ EURIBOR no reason to discard it as ALP
Vijay Electricals Limited vs. ACIT
(2014) TaxCorp(LJ) 4288 (ITAT-HYDERABAD)
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