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ITAT - Explanation 1 to section 37(1) could not be invoked merely on basis of an unestablished doubt that expenditure incurred could be for infraction of law.
Bajaj International (P.) Ltd. v. Deputy Commissioner of Income-tax, Circle 3(1), Mumbai
(2016) TaxCorp(LJ) 11654 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=52334&Category=ITAT&CategoryType=Zip
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S. 147 reopening opens a "Pandora's box" and cannot be done in a casual manner. The reasons cannot be based on mere doubts or with a view to verify basic facts. If the AO takes the view that the income referred to in the reasons has not escaped assessment, he loses jurisdiction to assess other escaped income that comes to his notice during reassessment
Torm Shipping India Pvt Ltd vs. ITO
(2016) TaxCorp(LJ) 11629 (ITAT-MUMBAI) · Section 147
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ITAT - There was no provision in AY 2009-10 requiring TDS from payment made for use of computer software as royalty, no addition can be made u/s 40(a)(i).
Shinhan Bank v. Deputy Director of Income-tax (International Taxation)-2 (1), Mumbai
(2016) TaxCorp(LJ) 11624 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenINTL.aspx?ID=11063&Category=INTLDecisions&CategoryType=Zip
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ITAT -it is mandatory that the assessee has to independently benchmark its international transaction with independent comparables so as to arrive at arm's length price.
Sara Lee TTK Ltd. v. Deputy Commissioner of Income-tax, Range-10(2), Mumbai
(2016) TaxCorp(LJ) 11622 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=51397&Category=ITAT&CategoryType=Zip
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ITAT - An abject lack of application of mind, non consideration of the assessee’s submissions, factually incorrect assumptions, non rendering of any cogent reasons for action and abject failure on the part of the AO to follow the procedure mandated by the provisions of section 14A. Sec.14A disallowance set aside.
Ms. Fereshte Sethna Vs. ACIT
(2016) TaxCorp(LJ) 11612 (ITAT-MUMBAI) · Section.14A
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ITAT - Enduring benefit in the case of repairs and maintenance may spread beyond one financial year, but that itself would not justify the characterisation of expenditure as capital in nature so long as it does not result in creation of any new asset or a benefit, in capital field.
Malabar Hill Club Ltd. Versus DCIT, Circle-5 (2), Mumbai and Vica-Versa
(2016) TaxCorp(LJ) 11579 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=52343&Category=ITAT&CategoryType=Zip
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ITAT - Amount incurred towards foreign travel expenditure in respect of an insurance agent does not accrue as ‘income’ in the hands of such insurance agent. No TDS u/s 194D.
M/s SBI Life Insurance Co. Ltd., K.G. Mittal Hospital, Mumbai Versus Asst. CIT (TDS) 3 (2), DCIT (TDS) 3 (2)
(2016) TaxCorp(LJ) 11578 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=52345&Category=ITAT&CategoryType=Zip
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ITAT - Explanation to section 37 of the Act cannot be invoked merely on the basis of an unestablished doubt that expenditure incurred could be for infraction of law.
M/s. Bajaj International P. Ltd. Versus DCIT, Circle 3 (1), Mumbai
(2016) TaxCorp(LJ) 11577 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=52334&Category=ITAT&CategoryType=Zip
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ITAT - When the existence of the stated outstanding liability is found to be bogus, the addition is to be upheld on account of the said bogus liability.
M/s. UB Air Pvt. Ltd. Versus DCIT – 5 (3), Mumbai
(2016) TaxCorp(LJ) 11567 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=52319&Category=ITAT&CategoryType=Zip
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ITAT - The proceedings before Sales Tax Department alone could not be the sole basis of addition in the hands of assessee before Income Tax Authorities. No addition u/s 69 since the machinery was duly recorded in the books of accounts.
Shree Sai Krupa Ispat Pvt. Ltd. Versus Income Tax Officer
(2016) TaxCorp(LJ) 11566 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=52320&Category=ITAT&CategoryType=Zip
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ITAT - Once in terms of section 10(6)(viii) the salary paid to non-resident cannot be taxed in India then reimbursement of salary cannot be treated as FTS under Article 12(5) of Indian- Netherlands Treaty.
Van Oord Dredging and Marine Contractors BV Versus Addl. Director of Income-tax (International Taxation) -Range-2, Mumbai
(2016) TaxCorp(LJ) 11550 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=52260&Category=ITAT&CategoryType=Zip
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ITAT - Assessee could not furnish any vital evidences to establish the genuineness of the agricultural income. Additions confirmed.
Pratap Ratan Das, Mumbai Versus Income Tax Officer 14 (1) (4) 17, Mumbai
(2016) TaxCorp(LJ) 11549 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=52224&Category=ITAT&CategoryType=Zip
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ITAT - Computation of profit and determination of taxable income is one aspect which is different from apportionment of profit / income between the AOP members.
M/s Fortaleza Developers Versus ITO, 15 (1) (3), Mumbai and ACIT, 17 (1), Mumbai
(2016) TaxCorp(LJ) 11548 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=52225&Category=ITAT&CategoryType=Zip
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ITAT - Cash receipts from gifted India Millennium Deposit cannot be brought to tax in the hands of appellant by invoking provisions of Section 56(2)(v).
Ramesh Jhaveri (HUF) , Mumbai Versus Income Tax Officer, Range - 21 (3) (3), Bandra, Mumbai
(2016) TaxCorp(LJ) 11547 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=52226&Category=ITAT&CategoryType=Zip
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ITAT - Assessee has made payment to partners as per the Partnership Deed and within the limit prescribed u/s 40(b), claim of interest expense allowed.
M/s. Ramniklal S. Gosalia and Co. Versus The Jt. Commissioner of Income Tax, Range-17 (3), Mumbai and Vica-Versa
(2016) TaxCorp(LJ) 11546 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=52227&Category=ITAT&CategoryType=Zip
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ITAT - Property tax paid in respect of non running business to be allowed as it is not necessary that after acquiring the right upon industrial plot the assessee should immediately construct the building and to start any another unit collateral to his object .
Asian Paints Ltd. Versus Addl. Commissioner of Income Tax –LTU Large Taxpayer Unit, Mumbai, Assistant Commissioner of Income Tax 10 (1), Mumbai and Vica-Versa
(2016) TaxCorp(LJ) 11545 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=52228&Category=ITAT&CategoryType=Zip
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ITAT - Since intimation u/s. 200A has been processed prior to 1.6.2015, late filing fee u/s. 234E set aside.
M/s. Dinshi Ampoule Makers Pvt. Ltd. Versus The DCIT (TDS), Centralized Processing Cell, Ghaziabad U.P.
(2016) TaxCorp(LJ) 11544 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=52229&Category=ITAT&CategoryType=Zip
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ITAT - Without any new fact or information coming into his knowledge and without stating any specific reason, reopening of assessment completed u/s 143(3) is not valid.
Dr. Keki H. Gharda Versus Deputy Commissioner of Income Tax 9 (1), Mumbai
(2016) TaxCorp(LJ) 11543 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=52230&Category=ITAT&CategoryType=Zip
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Taxability of software license fees as royalty: Non-consideration of the verdict of the Tribunal in Solid Works Corporation (51 SOT 34) and misreading of the Delhi High Court's verdict in Ericsson AB constitutes a mistake apparent from the record u/s 254(2) and the orders have to be recalled
Reliance Communications Ltd vs. DDIT
(2016) TaxCorp(LJ) 11541 (ITAT-MUMBAI) · Section 254(2)
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S. 50C: If the difference between the sale consideration of the property shown by the assessee and the FMV determined by the DVO u/s 50C(2) is less than 10%, the AO is not justified in substituting the value determined by the DVO for the sale consideration disclosed by the assessee. Unregistered sale agreements prior to 01.10.2009 are not subject to s. 50C as per CBDT Circular No.5/10 dated 03.06.2010
Krishna Enterprises vs. ACIT
(2016) TaxCorp(LJ) 11540 (ITAT-MUMBAI) · Section 50C
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