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AO erred in not applying the rate of tax as per the amended law and the order so passed is rightly held by PCIT as erroneous in so far as prejudicial to the interest of Revenue.
Agya Ram Manohar Lal Vs The Pr. CIT
(2022) TaxCorp(LJ) 30459 (ITAT-CHANDIGARH) · Section 115BBE
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The expenses deducted from export turnover needs to be deducted from total turnover.
Pentasoft Technologies Ltd. Vs The Income Tax – Officer (OSD)
(2022) TaxCorp(LJ) 30458 (ITAT-CHENNAI) · Section 10A
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Mere modus of operandi cannot the basis of making the addition or treating the capital gain as bogus until and unless it is supported by the material documents.
Mamta Rajivkumar Agarwal Vs Income Tax Officer
(2022) TaxCorp(LJ) 30457 (ITAT-AHMEDABAD)
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Provisions of Benami Act, 2016 cannot be retrospectively applied to the present case since alleged benami transactions undertaken by the Assessee were entered prior to Nov 1, 2016.
Rajesh Katyal Vs INCOME TAX DEPARTMENT
(2022) TaxCorp(LJ) 30456 (HC-DELHI)
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Nothing has been brought on record to show that the confirmation of addition by CIT(A) was based on no material.
Rupinder Tandon Vs ACIT
(2022) TaxCorp(LJ) 30455 (ITAT-MUMBAI)
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For the purpose of Section 154, a mistake apparent on the record must be obvious and not something which can be established by a long process of reasoning on points on which there may conceivably be two opinions.
Ambarnuj Finance And Investment Pvt. Ltd Vs DEPUTY COMMISSIONER OF INCOME TAX & ANR
(2022) TaxCorp(LJ) 30454 (HC-DELHI)
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VAT collected and paid by Assessee under the provisions of Tamil Nadu VAT Act, 2006 is an allowable expenditure and cannot be disallowed under the amended provisions of section 40(a)(iib).
Tamilnadu State Marketing Corporation Ltd. Vs The ACIT
(2022) TaxCorp(LJ) 30447 (ITAT-CHENNAI) · Section 40(a)(iib)
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The two Vice Presidents meet the eligibility requirements for holding the office to which they have been appointed in Jan'20.
Aniruthan Vs UNION OF INDIA & ORS.
(2022) TaxCorp(LJ) 30446 (SC)
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The gain derived by the assessee on sale of shares of Citrus India to PayU India is not taxable in India as per pre-amended Article 13(4) of India-Mauritius Tax Treaty.
MIH India (Mauritius) Ltd Vs ACIT
(2022) TaxCorp(LJ) 30445 (ITAT-DELHI)
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Merely because the advantage may endure for an indefinite future would not mean that the expenditure would be on capital account and not revenue.
United Breweries Limited Vs The Deputy Commissioner of Income-tax
(2022) TaxCorp(LJ) 30437 (ITAT-BANGALORE)
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Contract employees hired by the assessee to carry out its manufacturing process are required to be considered for the purpose of Section 80-IB.
Hindustan Coals Private Limited Vs National Faceless Assessment Centre
(2022) TaxCorp(LJ) 30436 (ITAT-MUMBAI) · Section 80-IB
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UOI is directed to place on record the relevant documents resulting in Notification No. 79/2017 dated October 13, 2017 by November 14, 2022.
Sanathan Textile Pvt Ltd vs. UOI & Anr. The matter is before Division Bench comprising
(2022) TaxCorp(LJ) 30430 (HC-BOMBAY)
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SC directions were given after Revenue conducted search, thus, they cannot form incriminating material found during the search.
PGF Ltd Vs PR.COMMISSIONER OF INCOME TAX (CENTRAL)- 3
(2022) TaxCorp(LJ) 30429 (HC-DELHI)
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The lack of control that the airlines have over the Actual Fare charged by the travel agents over and above the Net Fare, cannot form the legal basis for the Assessees to avoid their liability.
Singapore Airlines Ltd Vs C.I.T., Delhi
(2022) TaxCorp(LJ) 30428 (SC)
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Merely because an Assessee jointly owns a property along with his spouse, will not take away the nature of the ownership of the Assessee.
Raman Chawla Vs ACIT
(2022) TaxCorp(LJ) 30427 (ITAT-DELHI) · Section 54F
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Revenue had recorded cogent reasons for initiation of search which was based on information in possession with the Revenue.
Chandran Somasundaram & Others Vs The Principal Director of Income Tax
(2022) TaxCorp(LJ) 30420 (HC-MADRAS)
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No support can be drawn from observations made in the assessment order for the previous AY to conclude that in impugned AY, the loan was given on account of working capital requirement of the AE.
Rosebys Interiors India Ltd Vs The DCIT
(2022) TaxCorp(LJ) 30419 (ITAT-AHMEDABAD)
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Where the Revenue has all the material before him and has framed the original assessment, it's not open for him to reassess to remedy the error resulting from his oversight.
Deepak Kapoor Vs PRINCIPAL COMMISSIONER OF INCOME TAX
(2022) TaxCorp(LJ) 30418 (HC-DELHI)
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Centralised services agreement is merely a subsidiary and ancillary agreement to the main license agreement and would fall within Article 12(4)(a) of India-US DTAA.
WESTIN HOTEL MANAGEMENT LP Vs THE COMMISSIONER OF INCOME TAX – INTERNATIONAL TAXATION -3
(2022) TaxCorp(LJ) 30417 (HC-DELHI)
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Where the object of respective subsidy schemes of State Governments was to encourage the development of Multiple Theatre Complexes, incentives would be held to be capital in nature and not revenue receipts.
Ambuja Cements Ltd. Vs Additional Commissioner of Income Tax
(2022) TaxCorp(LJ) 30416 (ITAT-MUMBAI)
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