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All notices proposing to initiate any proceedings against the company in relation to the period prior to the CIRP Commencement Date and pending on that date, shall be considered non-est in law.
Raj Rayon Industries Ltd Vs PCIT-3
(2022) TaxCorp(LJ) 30070 (ITAT-MUMBAI)
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Statements recorded during the course of search cannot be used on a standalone basis to make additions in the post-search assessments.
Nilesh M. Agrawal Vs DCIT
(2022) TaxCorp(LJ) 30061 (ITAT-MUMBAI) · Section 132(4)
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Provision of Section 68 cannot be invoked where share subscription transaction are channeled through bank and wherein the identity and creditworthiness is established.
Sejima Texyarn Pvt Ltd Vs ITO
(2022) TaxCorp(LJ) 30041 (ITAT-MUMBAI) · Section 68
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Revenue is direct to adopt the valuation of Rs 3,833/share computed on the basis of the fair market value of the net assets.
Sushiladevi R Somani Vs Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 30017 (ITAT-MUMBAI)
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Assessee has not produced the receipts in case of donation of Rs.65.34 Lacs paid to Bharatiya Janata Party, but demonstrated the same through Assessee’s bank account.
Lodha Developers Ltd. Vs The Dy. Commissioner of Income Tax
(2022) TaxCorp(LJ) 30008 (ITAT-MUMBAI)
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Section 56(2)(viib) is not applicable to the present case, since the same is only relevant for issuance of shares to residents.
Raw Pressery Private Limited (formerly known as Rakyan Beverages Pvt. Ltd.) Vs ACIT
(2022) TaxCorp(LJ) 29995 (ITAT-MUMBAI)
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CIT proceeded with an understanding that the profit attribution of a Fixed Place PE and Dependent Agent PE are in pari materia which has been specifically rejected in the binding judicial precedents stated above.
MFE Formwork Technology Sdn Bhd Vs Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 29988 (ITAT-MUMBAI)
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There is a bonafide claim made by Assessee but under the wrong section and the said mistake is not a mistake which could only be corrected by filing a revising return.
Armine Hamied Khan Vs Income Tax Officer
(2022) TaxCorp(LJ) 29987 (ITAT-MUMBAI) · Sections 54, 54F
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Deferred tax asset cannot be claimed as a deduction as revenue expenditure since it is not an actual expenditure.
Sunny Vista Realtors Pvt. Ltd Vs The Dy. Commissioner of Income Tax
(2022) TaxCorp(LJ) 29971 (ITAT-MUMBAI)
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Disabling provision of Explanation 2 to Section 37(1) will not be attracted on CSR expenditure incurred on a voluntary basis and for the purpose of promotion of business and are allowable deduction under Section 37.
JSW Cement Ltd Vs Addl.CIT/Dy. ACIT
(2022) TaxCorp(LJ) 29958 (ITAT-MUMBAI)
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Payment under consideration cannot be considered to be FTS as it is not related to managerial, technical or consultancy services and even AE does not provided any service to the Assessee.
Red Hat India Pvt. Ltd. Vs DCIT
(2022) TaxCorp(LJ) 29956 (ITAT-MUMBAI)
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The transaction involved is free sale and amount paid to AE for supply of Red Hat Subscription is the price of maintaining and support services and not the price for license of software.
Red Hat India Pvt. Ltd. Vs DCIT
(2022) TaxCorp(LJ) 29955 (ITAT-MUMBAI)
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Revenue’s suspicion on impugned transaction, just because HRPL is an entity associated to the Assessee which derived substantial return on the option deposits from this arrangement, is factually perverse.
K. Raheja Pvt. Ltd Vs DCIT
(2022) TaxCorp(LJ) 29943 (ITAT-MUMBAI)
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The concept of ‘ready to use’ is not applicable in the facts of the present case, since Assessee could not have put these 14206 units in use in the business of leasing at all.
L&T Ltd. Vs DCIT
(2022) TaxCorp(LJ) 29922 (ITAT-MUMBAI)
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We do not find any error in the finding of the Ld. CIT(A) in upholding the Project Completion Method followed by the Assessee for declaring income from the project under reference.
Suratchandra B. Thakkar (HUF) Vs ACIT-30(3)
(2022) TaxCorp(LJ) 29918 (ITAT-MUMBAI)
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Since the business loss of 13.43 Cr has not been carried forwarded to AY 2007-08, the same is not available for set off against Assessee’s income as per Section 72A.
Hotel Leela Venture Ltd Vs Asst. Commissioner of Income Tax
(2022) TaxCorp(LJ) 29897 (ITAT-MUMBAI) · Sections 72A, 79
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The adjustment by CPC stands merged with the scrutiny assessment order, by application of doctrine of merger and only scrutiny assessment order under Section 143(3) survives.
National Stock Exchange Investor Protection Fund Trust Vs DCIT
(2022) TaxCorp(LJ) 29886 (ITAT-MUMBAI) · Sections 10(23EA), 11
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Assessee is eligible for depreciation under Section 32 as non-compete fee is an intangible asset.
Abbott Healthcare Private Limited Vs Asstt. Commissioner of Income Tax
(2022) TaxCorp(LJ) 29876 (ITAT-MUMBAI)
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There is tax treaty existing between India and Switzerland, MAT provisions cannot apply where tax treaty is invoked as the provisions of Section 115JB are only subordinate to Section 90(2).
Credit Suisse AG Vs ACIT(IT)
(2022) TaxCorp(LJ) 29854 (ITAT-MUMBAI)
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Mere fact of an Assessee’s offering an income to tax in an earlier year cannot be the reason enough to negate his otherwise lawful claim of non-taxability.
Michael Page International Recruitment Pvt Ltd Vs Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 29840 (ITAT-MUMBAI)
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