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ITAT - The absence of the word “erroneous order” u/s 263 is not very fatal where order of the AO was erroneous because the AO failed to make proper enquiries which were warranted in the facts and circumstances of the case.
M/s. Neelakantha Commosales Pvt. Ltd. Versus Commissioner of Income Tax, Kolkata-I, Kolkata
(2017) TaxCorp(LJ) 12289 (ITAT-KOLKATA) · http://taxcorp.in/FileOpenDT.aspx?ID=54802&Category=ITAT&CategoryType=Zip
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ITAT - Entry relating to the loss of cash at the end of financial year is not a very vital circumstance. Thus the claim of the assessee for loss on account of cash destroyed by fire allowed as deduction.
M/s. Aparna Agency Ltd. Versus I.T.O., Ward-12 (3), Kolkata
(2017) TaxCorp(LJ) 12287 (ITAT-KOLKATA) · http://taxcorp.in/FileOpenDT.aspx?ID=54805&Category=ITAT&CategoryType=Zip
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ITAT - No TDS U/S 195 as amount paid for grant of license is not in the nature of royalty within the meaning of the DTAA and also there was no PE in India.
I.T.C. Limited Versus A.D.I.T.(I.T.) -2 (1), Kolkata
(2017) TaxCorp(LJ) 12286 (ITAT-KOLKATA) · http://taxcorp.in/FileOpenDT.aspx?ID=54806&Category=ITAT&CategoryType=Zip
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ITAT - On the very same material which was available when the original assessment proceedings u/s 143(3) were completed, the AO has sought to reopen the assessment proceedings u/s 148 merely on the basis of change of opinion.
D.C.I. T-Circle-1, Circle-1 (2) , Kolkata Versus M/s. Gloster Jute Mills Ltd. and Vice-Verssa
(2017) TaxCorp(LJ) 12285 (ITAT-KOLKATA) · http://taxcorp.in/FileOpenDT.aspx?ID=54807&Category=ITAT&CategoryType=Zip
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ITAT - If deposit of unutilized capital gain is made within the time limit made in Sec.139(4) of the Act, the deduction u/s 54G cannot be denied.
D.C.I.T. Circle-6, Kolkata Versus M/s. Kilburn Engineering Ltd.
(2017) TaxCorp(LJ) 12284 (ITAT-KOLKATA) · http://taxcorp.in/FileOpenDT.aspx?ID=54809&Category=ITAT&CategoryType=Zip
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ITAT - No TDS u/s 195 TDS on software payments to a Singaporean company as the same not royalty under Article 12(3) of India-Singapore DTAA. Assessee has a right to use the computer software but no right to use copyright in the computer software.
I.T.C. Limited vs. ADIT
(2017) TaxCorp(LJ) 12274 (ITAT-KOLKATA)
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ITAT - Retention money to be excluded from book profits for the purposes of MAT calculation u/s. 115JB.
Mcnally Bharat Engg. Co. Ltd. Vs. DCIT
(2017) TaxCorp(LJ) 12272 (ITAT-KOLKATA)
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ITAT - Assessee is old aged and disclosure of amounts in revised and payment of taxes thereon and taking into consideration the submissions, facts and circumstances of the case, penalty u/s. 271(1)(c) is cancelled.
Dr. Kalyan Chaudhuri Versus Income Tax Officer, Ward 19 (3) , Kolkata
(2017) TaxCorp(LJ) 12267 (ITAT-KOLKATA) · http://taxcorp.in/FileOpenDT.aspx?ID=54782&Category=ITAT&CategoryType=Zip
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ITAT - Where delay in appointment of auditors was by the co-operative department, no penalty u/s 271B as appointment is not in the control of the assessee.
Arambagh Co-op Agricultural Marketing Society Ltd Versus Asstt. Commissioner of Income-tax, Circle-1, West Bengal
(2017) TaxCorp(LJ) 12266 (ITAT-KOLKATA) · http://taxcorp.in/FileOpenDT.aspx?ID=54781&Category=ITAT&CategoryType=Zip
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Entire law on Permanent Establishment, Force of Attraction principle, taxability of software embedded in hardware as royalty, make available of technical services etc explained (all important judgements referred)
HITT Holland Institute of Traffic Technology B.V. vs. DDIT
(2017) TaxCorp(LJ) 12184 (ITAT-KOLKATA)
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ITAT - Certificate u/s 197 of the Act is with reference to the person to whom the income is paid and is not with reference to any sum as may be specified in the certificate.
M/s. Twenty First Century Securities Ltd. Versus I.T.O. Ward-59 (4) (TDS) Kolkata
(2017) TaxCorp(LJ) 12116 (ITAT-KOLKATA) · http://taxcorp.in/FileOpenDT.aspx?ID=54472&Category=ITAT&CategoryType=Zip
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ITAT - Since no installation activity happened during the relevant AY, PO did not constitute installation PE, therefore profits arising out of off-shore supply of equipments was not taxable in India.
HITT Holland Institute of Traffic Technology B.V. vs DDIT
(2017) TaxCorp(LJ) 12113 (ITAT-KOLKATA)
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ITAT - Once the certificate u/s 197(2) is issued for lesser/no TDS deduction, the person making the payment is at liberty to deduct tax at rates specified in the certificate and it does not make any reference to any income specified in such certificate.
Twenty First Century Securities Ltd. Vs I.T.O.
(2017) TaxCorp(LJ) 12111 (ITAT-KOLKATA) · Sections 197, 201(1A)
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ITAT -No TDS u/s 194H on payment made by the assessee to the Hawkers.
Abhijit Majumder Versus Income Tax Officer Ward- 4, Nadia
(2017) TaxCorp(LJ) 12109 (ITAT-KOLKATA) · http://taxcorp.in/FileOpenDT.aspx?ID=54451&Category=ITAT&CategoryType=Zip
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ITAT - Addition on account of undisclosed current assets was part of gross receipt and as shown income in the profit and loss account, thus, it can not become an addition again bringing the same for taxation for not following the principles of accountancy.
Susanta Biswas Versus Income Tax Officer Ward 50 (4), Kolkata
(2017) TaxCorp(LJ) 12097 (ITAT-KOLKATA) · http://taxcorp.in/FileOpenDT.aspx?ID=54425&Category=ITAT&CategoryType=Zip
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S. 10(38): If the AO has accepted the claim for exemption for long-term capital gains and conceded that the assessee is an "investor", he cannot change his stand and treat the assessee as a "trader" in respect of the claim of short-term capital gains alone
ITO vs. Dilip B. Desai HUF
(2017) TaxCorp(LJ) 12024 (ITAT-KOLKATA) · Section 10(38)
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Bogus capital gains from penny stocks: Long-term capital gains claimed exempt u/s 10(38) cannot be treated as bogus unexplained income if the paper work is in order. The fact that the Company whose shares were sold has violated SEBI norms and is not traceable does not mean that the assessee is at fault
Surya Prakash Toshniwal HUF vs. ITO
(2017) TaxCorp(LJ) 11907 (ITAT-KOLKATA) · Section 10(38)
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S. 9(1)(vii)/ Article 12: There is a difference between a 'contract of work' and a ‘contract of service’. In a 'contract of work', the activity is predominantly physical while in a 'contract of service', the dominant feature of the activity is intellectual. Fees paid with respect to a ‘contract of work’ does not constitute "fees for technical services" and consequently the assessee is not liable to deduct TDS u/s 195
ITO vs. Emami Paper Mills Ltd
(2017) TaxCorp(LJ) 11906 (ITAT-KOLKATA) · Section 9(1)(vii)
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ITAT - Both the tour expenses and fashion show expenses incurred by the assessee society would have to be construed as application of income.
Assistant Director of Income-tax (E) -1, Kolkata Versus Bhowanipur Gujarati Education Society
(2017) TaxCorp(LJ) 11865 (ITAT-KOLKATA) · http://taxcorp.in/FileOpenDT.aspx?ID=54009&Category=ITAT&CategoryType=Zip
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ITAT - No additio u/s sec. 40(a)(ia) for non-deduction of TDS while making payment on account of commission as the said commission was paid to his staff.
M/s D.D. Infotech Versus ITO, Ward-50 (1), Kolkata
(2017) TaxCorp(LJ) 11861 (ITAT-KOLKATA) · http://taxcorp.in/FileOpenDT.aspx?ID=54022&Category=ITAT&CategoryType=Zip
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