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The interest received from deposits kept with banks is eligible for deduction under Section 80P.
Anantnath Alpasankhyatar Vividh Uddeshagal Souhard Sahakari Niyamit Vs ITO
(2022) TaxCorp(LJ) 30415 (ITAT-PANAJI) · Section 80P
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Fresh reassessment notice under Section 148 cannot be issued during the subsistence of existing reassessment proceedings for same AY.
Kamdhenu Enterprises Ltd Vs INCOME TAX OFFICER
(2022) TaxCorp(LJ) 30414 (HC-DELHI)
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An appeal or claim pending before the appellate fora which were earlier withdrawn in terms of certificate issued by VsV authority shall deemed to have be revived, the moment any of the condition stipulated in the certificate is violated.
Lifecell International Pvt. Ltd Vs ACIT
(2022) TaxCorp(LJ) 30413 (ITAT-CHENNAI)
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Executive search service fees received by Dutch Company from its Indian Subsidiary is not taxable as FTS under India-Netherlands DTAA.
Spencer Stuart International B.V. Vs Asstt. Commissioner of Income Tax
(2022) TaxCorp(LJ) 30412 (ITAT-MUMBAI)
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For the purpose of Section 36(1)(viia), the aggregate average advance made by the rural branches of a scheduled bank shall be computed by taking the amount of advances made by each rural branch as outstanding at the end of the last day of each month of the previous year aggregated separately.
The State Bank of India Vs Asstt. Commissioner of Income Tax
(2022) TaxCorp(LJ) 30405 (ITAT-MUMBAI)
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There was no forwarding, not even an effort to forward, the draft assessment order to the correct address, or at least the address furnished to the Revenue under proviso to Rule 127(2), within the permitted time frame.
DSV Solutions Pvt Ltd Vs Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 30398 (ITAT-MUMBAI)
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Once the principal liability itself is adequately protected or discharged, it cannot be said that the vicarious liability survives.
ICICI Securities Limited Vs Income Tax Officer
(2022) TaxCorp(LJ) 30397 (ITAT-MUMBAI)
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The carried forward balance from earlier AYs is to be considered for determination of deemed dividend under Section 2(22)(e).
Dr. L.S. Ravi Prakash Vs Deputy Commissioner of Income-tax
(2022) TaxCorp(LJ) 30392 (ITAT-BANGALORE)
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The assessment order is erroneous and prejudicial to the interest of revenue since no verification could be done about the source of receipt of advance.
Karabi Dealers Pvt. Ltd Vs Pr. Commissioner of Income-tax-2
(2022) TaxCorp(LJ) 30391 (ITAT-KOLKATA)
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CIT cannot revise an order which is non-est in the eyes of law.
Maruti Clean Coal and Power Ltd Vs The Pr. Commissioner of Income Tax-1
(2022) TaxCorp(LJ) 30384 (ITAT-RAIPUR)
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Merely for the reason that the assignment agreement is not registered, the actual outflow from the hands of the assessee towards acquisition of the property cannot be ignored for computing the capital gains.
RaviKumar Tirupati Parthasarathy Vs The Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 30383 (ITAT-BANGALORE)
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Applicability of the principles of natural justice and fair play, depends on the facts and circumstances of each case and is subjected to statutory provisions.
Dinesh Chand Surana Vs Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 30382 (HC-MADRAS)
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The assessee is justified in adopting the ALP of the electricity supply bites captive power generation plant to its AEs at Rs. 8.74 and the Revenue is not justified in excluding certain heads of charges from out of it.
Sree Rayalaseema Hi Strength Hypo Limited Vs DCIT
(2022) TaxCorp(LJ) 30375 (ITAT-HYDERABAD)
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AO made adequate enquiries with regard to the Shareholders Account during the course of assessment proceedings and invocation of revisionary jurisdiction by PCIT under Section 263 was grossly incorrect and liable to be quashed.
Tata AIA Life Insurance Company Ltd Vs Pr. Commissioner of Income Tax
(2022) TaxCorp(LJ) 30374 (ITAT-MUMBAI)
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The revision order passed under Section 263 does not contain any DIN nor any reason for non-issuance of DIN, which is in violation of the CBDT Circular No.19 of 2019 dated Aug 14, 2019.
Dilip Kothari Vs The Principal Commissioner of Income Tax
(2022) TaxCorp(LJ) 30373 (ITAT-BANGALORE)
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Since the transaction of purchase of the property were duly registered, even the cancellation of the same has to be done through a registered cancellation deed.
Seema Promoters and Builders Pvt. Ltd Vs Dy.CIT
(2022) TaxCorp(LJ) 30371 (ITAT-MUMBAI) · Section 43CA
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The object of Assessee do not justify the nexus with the relevant clauses of MOU to be eligible for exemption under Section 11.
UMAK Education Trust Vs JCIT(E)
(2022) TaxCorp(LJ) 30370 (ITAT-DELHI) · Section 11
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Employees contribution has to be deposited within due dates under relevant legislation like PF Act, failing which the same would be treated as income in the hands of employer under Section 2(24)(x).
Pivotree Solutions India Pvt. Ltd Vs The ADIT
(2022) TaxCorp(LJ) 30369 (ITAT-BANGALORE)
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For the purpose of Section 10A the quantum of deduction is required to be computed taking into account the profits of the business.
Uni-Design Jewellery Pvt. Ltd Vs Dy. CIT
(2022) TaxCorp(LJ) 30368 (ITAT-MUMBAI) · Section 10A
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The subsequent reassessment notices issued on April 8, 2021 were not in consonance with the newly inserted Section 148A which mandates Revenue to conduct an enquiry before issuance of reassessment notice.
SYLVESA Infotech Private Limited Vs Additional Commissioner of Income Tax
(2022) TaxCorp(LJ) 30367 (HC-ORISSA) · Section 148
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