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Section 43CA and 50C are in pari materia and retrospective application of Section 50C is also applicable on Section 43CA.
Sai Bhargavanath Infra Vs The Asstt. Commissioner of Income-tax
(2022) TaxCorp(LJ) 29921 (ITAT-PUNE) · Section 43CA
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Penalty of Rs.89.99 lakhs imposed under Section 271(1)(c) is unsustainable where divergent views are prevalent in respect of treatment of consideration received for granting access to online database.
Faurecia Systems D’echappement Vs ACIT
(2022) TaxCorp(LJ) 29685 (ITAT-PUNE) · Section 271(1)(c)
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Assessee is not eligible for exemption under Section 10(23C)(iiiab) on the grounds that it is not substantially funded by the Government.
The Punyashlok Ahilyadevi Holkar Solapur University Solapur Vs The Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 29653 (ITAT-PUNE) · Section 10(23C)(iiiab)
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CIT(A) order granting the benefit of set-off of brought forward business losses to assessee is perfunctory and without looking into the objects behind the enactment of provisions of section 72A which renders the order illegal and unreasonable.
Cummins Sales & Services (I) Ltd. (Formerly known as Cummins Diesels Sales & Services Ltd.) Vs DCIT
(2022) TaxCorp(LJ) 29624 (ITAT-PUNE)
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Merely because the explanation furnished by Assessee’s brothers about the creditworthiness for the money advanced to the Assessee was found to be unacceptable to Revenue, it cannot be the reasons to disbelieve the explanation given by the Assessee.
Maruti Nivrutti Navale Vs DCIT
(2022) TaxCorp(LJ) 29566 (ITAT-PUNE) · Section 69A
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Commission was calculated as per provisions of Companies Act, 2013 , approved by AGM of the company, and paid to highly successful individuals.
Force Motors Ltd Vs The Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 29475 (ITAT-PUNE)
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Reopening reasons have to be read on standalone basis without any scope of addition, deletion or substitution therein even if supportive material emerges at a later stage.
Sanjay Sadashiv Navale Vs DCIT
(2022) TaxCorp(LJ) 29418 (ITAT-PUNE)
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Section 10(23C)(v) does not prescribe any stipulation, which makes the registration under Section 12AA as a condition precedent for availing the exemption.
The Nanded Sikhgurudwara Sachkhand Hazur Apchalnagar Sahib Vs ACIT
(2022) TaxCorp(LJ) 29364 (ITAT-PUNE) · Section 10(23C)(v)
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Simply because the subsidy has been disbursed in the form of refund of VAT and CST, it will not alter the purpose of granting the subsidy, which is nothing but establishment of new industrial units in less developed areas of the State.
Haldex India Pvt. Ltd Vs DCIT
(2022) TaxCorp(LJ) 29353 (ITAT-PUNE)
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Income of the trust shall be assessed at maximum marginal rate of tax.
Sinhagad Technical Education Society Vs DCIT
(2022) TaxCorp(LJ) 29321 (ITAT-PUNE)
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The order passed by the ITSC u/s 245D(4) even de hors the filing of return u/s 139 is an order passed under other proceeding under this Act for the purposes of section 240 and the amount of TDS is a component of the amount of taxes already paid in terms of section 199.
North American Coal Corporation India Pvt. Ltd Vs ACIT
(2022) TaxCorp(LJ) 29310 (ITAT-PUNE)
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In absence of a provision to rectify an order passed under Section 254(2), the only remedy available to the Revenue under law is to prefer an appeal before HC.
Vodafone Cellular Limited Vs Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 29268 (ITAT-PUNE) · Section 254(2)
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Assessee did not file any evidence to substantiate his claim that impugned land was converted as stock-in-trade before entering into the JDA, and thus, section 45(2) is inapplicable.
Babusha Haribhau Gade Vs The Income Tax Officer
(2022) TaxCorp(LJ) 29267 (ITAT-PUNE) · Section 45(2)
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Where the Assessee cannot be treated as assessee-in- default, the question of holding the Assessee liable to pay interest did not arise, as there was no liability to collect tax at source.
Bashco Engineering Pvt. Ltd Vs ITO (TDS)
(2022) TaxCorp(LJ) 29265 (ITAT-PUNE)
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If the disallowance is to be restricted to the amount of exempt income, the sequitur is that there can never be any disallowance u/s 14A in the absence of positive exempt income for the year.
Kumar Properties and Real Estate Private Limited Vs DCIT
(2022) TaxCorp(LJ) 29247 (ITAT-PUNE) · Section 23(5)
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Revenue’s exercise starts only when these three ingredients are established and the department is required to investigate into the facts presented by the assessee.
Mahalaxmi TMT Pvt. Ltd Vs D.C.I.T.
(2022) TaxCorp(LJ) 29223 (ITAT-PUNE)
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It could not be said that contractors were agents of the Assessee for provision of labour and that Assessee paid to the contractors on principal-to-principal basis and no agency of any sort was involved in the transaction.
Shree Buildcon & Associates Vs JCIT
(2022) TaxCorp(LJ) 29174 (ITAT-PUNE)
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Deduction under Section 80-IC is not available in computation of book profits under Section 115JB.
Chheda Electricals and Electronics Pvt. Ltd Vs DCIT
(2022) TaxCorp(LJ) 29173 (ITAT-PUNE) · Section 80-IC
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The doctrine res-judicata has no application to the income-tax proceedings merely because the claim came to be in the earlier years, it is does not mean that the Assessing Officer should allow the same when he is conscious of the non-allowability of the claim in view of well settled position of law in this issue.
Ascendas IT Park (Pune) Private Limited Vs DCIT
(2022) TaxCorp(LJ) 29076 (ITAT-PUNE)
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Interest expenditure incurred on loans taken for investment in acquiring controlled interest in a Company which was in the same line of business as that of the Respondent would be allowable expenditure under section 36(1)(iii) of the Act.
Bitwise Solutions Pvt. Ltd Vs The DCIT
(2022) TaxCorp(LJ) 29074 (ITAT-PUNE)
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