-
Set off of brought forward loss when there is a change in shareholding is a debatable issue and not a mistake apparent from record, thus not rectifiable.
Birla Edutech Limited Vs ITO
(2022) TaxCorp(LJ) 30560 (ITAT-MUMBAI)
-
The assessee would be entitled for set off of brought forward as well as current year business losses against foreign dividend income.
Tata Industries Ltd Vs The Dy. Commissioner of Income Tax
(2022) TaxCorp(LJ) 30553 (ITAT-MUMBAI) · Section 80G
-
Additional evidence cannot be admitted without calling for a remand report or comments from the Revenue in accordance with Rule 46A.
Ascend Telcom Infrastructure (P) Ltd. Vs ACIT
(2022) TaxCorp(LJ) 30552 (ITAT-HYDERABAD)
-
The phrase 'increase in income’ inserted vide Finance Act, 2021 w.e.f. Apr 1, 2021 is not applicable in the present case.
Cemetile Industries Vs ITO
(2022) TaxCorp(LJ) 30551 (ITAT-PUNE) · Section 143(1)
-
Supreme Court has recognized ICAI as an expert body of accountants and the guidance note on tax audit issued by them can be relied upon in the absence of any statutory provision for computation of turnover in such cases.
Sanjay Marotrao Modak Vs Dy. CIT
(2022) TaxCorp(LJ) 30550 (ITAT-MUMBAI) · Section 271B
-
Interest income earned by the co-operative society from the investments made with the co-operative banks is eligible for claim of deduction under Section 80P(2)(d).
Mittal Court Premises Co-operative Society Ltd. Vs ITO
(2022) TaxCorp(LJ) 30549 (ITAT-MUMBAI) · Section 80P
-
Formidable evidence have been placed on record to prove the identity of contractors and in absence of any culpable evidence in possession to prove contrary, Revenue cannot make addition.
United Foods Private Limited Vs ACIT
(2022) TaxCorp(LJ) 30548 (ITAT-DELHI)
-
Provision of training services rendered to AE falls within the ambit of FTS in terms of Article 12 of India-Singapore DTAA and liable to taxed in India.
Danone Asia Pte Limited Vs ACIT
(2022) TaxCorp(LJ) 30547 (ITAT-DELHI)
-
The interest income earned out of investment made from surplus funds would be taxable as income from other sources and would not be eligible for deduction under Section 80P(2)(a)(i).
The Bharathi Co-operative Credit Society Vs The Income Tax Officer
(2022) TaxCorp(LJ) 30546 (ITAT-BANGALORE) · Sections 80P, 57
-
The Assessee has made complete disclosure of facts and the issue whether interest received from the idle funds in the form of FDRs is a capital or revenue receipt is highly debatable.
Nagarjuna Oil Corporation Ltd Vs The ACIT
(2022) TaxCorp(LJ) 30545 (ITAT-CHENNAI)
-
Article 24(1) of India-Singapore DTAA is not applicable to the chartered income derived by the Assessee on the voyages from Indian ports, as the income is sourced in Singapore and assessable to tax in Singapore on accrual and not on remittance basis.
Maersk Tankers Singapore Pte. Ltd Vs The Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 30537 (ITAT-RAJKOT)
-
Deduction under Section 80-IA can be availed only when the development agreement is entered into by Assessee with Central or State Government or a local authority or any other statutory body.
BSC C&C JV Vs Assessing Officer, National e-Assessment Centre
(2022) TaxCorp(LJ) 30536 (ITAT-DELHI) · Section 80-IA
-
Non-mentioning of date of commencement or mentioning of wrong date in Form No. 10CCB by the Auditors can be an error of reporting and thus, Assessee’s claim cannot be rejected on this basis.
Vodafone India Ltd Vs Dy. Commissioner of Income Tax
(2022) TaxCorp(LJ) 30535 (ITAT-MUMBAI)
-
Even if a proposal of a scheme of amalgamation is approved by the Adjudicating Authority, no provision of such a scheme can override the existing provision of the Act.
Grasim Industries Ltd Vs DCIT
(2022) TaxCorp(LJ) 30532 (ITAT-MUMBAI)
-
Distribution revenue received by the BBC World from BBC India cannot be termed as royalty, either under section 9(1)(vi) of the Act or under the India-UK DTAA.
BBC World Distribution Ltd Vs ADIT
(2022) TaxCorp(LJ) 30531 (ITAT-DELHI)
-
Filing of separate application before CIT(A) for admissibility of additional evidence is not mandated under Rule 46A.
Mayur Batra Vs ACIT
(2022) TaxCorp(LJ) 30524 (ITAT-DELHI)
-
There is a sale of an entire undertaking as a going concern and assessing officer should have computed the capital gains under section 45 to 50.
Lifestyle International Pvt. Ltd Vs The DCIT
(2022) TaxCorp(LJ) 30523 (ITAT-BANGALORE)
-
Since the Assessee claimed deduction by filing the revised return under Section 139(5) and also uploaded the requisite audit report in Form No. 56F along with that, no infirmity can be found in the impugned order in accepting the Assessee’s claim in this regard.
Capgemini Technology Services India Limited Vs DCIT
(2022) TaxCorp(LJ) 30522 (ITAT-PUNE)
-
Since assessee did not furnish any evidence or confirmation regarding the trading liability, the same shall be treated as cessation of trading liability under Section 41(1)(a), thus deemed it as business income.
Soorajmul Nagarmull Vs PRINCIPAL COMMISSIONER OF INCOME TAX
(2022) TaxCorp(LJ) 30515 (HC-CALCUTTA) · Section 41(1)(a)
-
The disallowance made by the Assessee was on an ad hoc basis and a mere guess estimate.
H.T. Media Limited Vs PRINCIPAL COMMISSIONER OF INCOME TAX-4
(2022) TaxCorp(LJ) 30514 (HC-DELHI) · Section 14A
Headnote lines are open to everyone. The full headnote and the judgment text open with a subscription — see plans or sign in.