-
Order passed by AO by arriving at one of the two possible views cannot be subject to revisions merely because PCIT has a different view.
Tata Motors Ltd Vs Dy. Commissioner of Income Tax
(2021) TaxCorp(LJ) 26378 (ITAT-MUMBAI)
-
The expenditure claimed by the assessee on acquisition of the Bank is capital in nature.
NKGSB Co–operative Bank Ltd Vs Asstt. Commissioner of Income Tax
(2021) TaxCorp(LJ) 26365 (ITAT-MUMBAI)
-
S. 90, 91: An Indian taxpayer is not entitled to claim refunds from the Government of India of taxes paid by the said taxpayer outside India, i.e., to the foreign Governments, in respect of the income taxes paid abroad on income earned in the respective tax jurisdictions, if the said income is not taxed in India due to a loss. However, the taxes paid abroad are allowable as a deduction in the computation of the business income of the assessee (Entire law is discussed in detail)
Bank Of India vs. ACIT
(2021) TaxCorp(LJ) 26358 (ITAT-MUMBAI) · Sections 90, 91
-
In the instant case assessee is not payer of money but only the remitter which is collected from the users on behalf of Uber B.V., as it entered into contract with driver-partners and not the assessee.
Uber India Systems Private Limited Vs Jt. CIT (TDS)(OSD)-2(3)
(2021) TaxCorp(LJ) 26297 (ITAT-MUMBAI) · Section 194C
-
Seismic survey equipment used in the project of exploration of mineral oils by OIL and ONGC is eligible for special rate of depreciation at 60% falling under clause (xii) of Depreciation Schedule relating to Mineral oil concerns.
Asian Oilfield Services Limited Vs DCIT
(2021) TaxCorp(LJ) 26296 (ITAT-MUMBAI)
-
When Hon’ble jurisdictional High Court holds the law in a particular way, it is our bounden duty to follow the same in letter and in spirit.
Bank of India Vs Assistant Commissioner of Income Tax
(2021) TaxCorp(LJ) 26293 (ITAT-MUMBAI)
-
For appeal filed in accordance with the form, not signed by persons under Rule 45, an opportunity should be provided correct the error, rather than dismissing the appeal.
Businessmatch Services (India) Private Limited Vs Deputy Commissioner of Income-tax
(2021) TaxCorp(LJ) 26238 (ITAT-MUMBAI)
-
While selling the fertilizer, it recovers part cost from farmers and part cost through Government by way of concession and hence, the subsidy is related to its business activity as the subsidy claim arises only upon sale of the fertilizer to the farmers.
Tata Chemicals Limited Vs Deputy Commissioner of Income Tax-2(3)
(2021) TaxCorp(LJ) 26227 (ITAT-MUMBAI) · Section 80IB
-
As per the settled position of law, the appellate authorities are obligated to dispose off all the grounds of appeal raised by the appellant before them so that multiplicity of litigation may be avoided.
Tanna Builders Ltd Vs DCIT
(2021) TaxCorp(LJ) 26216 (ITAT-MUMBAI)
-
After taxing the income from application of funds, the AO cannot turn his back and claim that the expenditure on borrowing is not allowable as business expense income from investments has been offered to tax and the same has been taxed as business income, there is no justification for disallowance of so-called proportionate interest.
Reliance Infrastructure Ltd Vs DCIT
(2021) TaxCorp(LJ) 26139 (ITAT-MUMBAI)
-
U/s 2(47)(vi), transfer of capital asset includes transferring or enabling the enjoyment of any immovable property by way of becoming a member of or acquiring a share in a company or by way of any agreement or arrangement or in any other manner whatsoever.
Shri Shailendra Bhandari Vs ACIT
(2021) TaxCorp(LJ) 26132 (ITAT-MUMBAI)
-
There was no material to demonstrate that transactions between assessee and ATC were not at arm’s length, to be treated as DAPE under India- Canada DTAA.
International Air Transport Association (CANADA) Vs The ACIT
(2021) TaxCorp(LJ) 26110 (ITAT-MUMBAI)
-
If there is held to be a DAPE on the facts of this case it is wholly tax-neutral in as much as the Indian agents have been paid arm's length remuneration, and nothing further can, therefore, be taxed in the hands of the assessee.
Asia Today Limited Vs Additional Director of Income Tax International Taxation 1(1)
(2021) TaxCorp(LJ) 26108 (ITAT-MUMBAI)
-
Estimation of income, in the hands of the employees under the head income from salaries, by the assessee-employer was bonafide and reasonable.
State Bank of India Vs ACIT
(2021) TaxCorp(LJ) 26094 (ITAT-MUMBAI)
-
Sec. 32(2) and Sec. 72 provide for carrying forward of only the balance of losses/depreciation after set-off in the preceding years whereas Sec. 115JB envisages a simpler determination of amount eligible for reduction from net profit.
Go Airlines (India) Limited Vs DCIT
(2021) TaxCorp(LJ) 26093 (ITAT-MUMBAI)
-
Any addition in closing stock is tax neutral as the closing stock of the current year will become the opening stock of the following year.
M/s Rosy Blue (India) Pvt. Ltd. Vs The DCIT
(2021) TaxCorp(LJ) 26069 (ITAT-MUMBAI)
-
A curative amendment to avoid unintended consequences is to be treated as retrospective in nature even though it may not state so specifically.
Maria Fernandes Cheryl Vs Income Tax Officer
(2021) TaxCorp(LJ) 26012 (ITAT-MUMBAI) · Section 50C
-
As much as the nexus is required to be between salaries and wages vis-à-vis the employment, the nexus is also required between other similar benefits vis-à-vis the employments.
Unnikrishnan V S Vs Income Tax Officer
(2021) TaxCorp(LJ) 26010 (ITAT-MUMBAI)
-
The rental income derived out of sub- leasing activity may get taxed under the head income from house property as per certain provisions of the Act and judicial precedents.
M/s. Prolific Consultancy Services (Mumbai) Pvt. Ltd. Vs Income Tax Officer
(2021) TaxCorp(LJ) 24982 (ITAT-MUMBAI)
-
Receipt of software licence fees by assessee from its Indian subsidiary, constitutes reimbursement of software licence fees paid by assessee to a third party, and, therefore, it cannot constitute income taxable in the hands of the assesse.
SCA Hygiene Products AB Vs Deputy Commissioner of Income Tax International Taxation 4(2)(1)
(2021) TaxCorp(LJ) 24975 (ITAT-MUMBAI)
Headnote lines are open to everyone. The full headnote and the judgment text open with a subscription — see plans or sign in.