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Whether corporate death of an entity on amalgamation invalidates a tax assessment order ordinarily cannot be determined on a bare application of Section 481 and will depend on facts of each case.
Dwarka Portfolio Pvt. Ltd Vs Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 29521 (ITAT-DELHI)
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It could not be said that the business was not set-up since the assessee had procured the land and partially constructed building during the year which was a vital step to commence the business activities for assessee.
RBL Hotels Private Limited Vs ACIT
(2022) TaxCorp(LJ) 29520 (ITAT-CHENNAI)
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Revenue’s appeal before ITAT needs to be restored and considered on its own merits in light of observations made in this order and after considering the documents/orders sought to be placed on record through the rectification application.
Omega Investments and Properties Ltd Vs The Commissioner of Income Tax-3
(2022) TaxCorp(LJ) 29519 (HC-BOMBAY)
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It is a case where the assessment was sought to be reopened on account of change of opinion, which is not permissible in terms of proviso to Section 147.
Virbac Animal Health India P. Ltd Vs Assistant Commissioner of Income-tax-3(3)(1)
(2022) TaxCorp(LJ) 29518 (HC-BOMBAY)
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All the primary facts in connection with the deduction claimed by the Assessee were called for in the original assessment on perusal of which, the deduction was granted.
BIOCON LTD Vs The Joint Commissioner of Income-tax
(2022) TaxCorp(LJ) 29517 (ITAT-BANGALORE) · Section 35(2AB)
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Consultancy charges paid for introduction of client located and engaged in the business in India was in the nature of FTS, making assessee liable to withholding tax.
Hemera India Pvt. Ltd Vs DCIT
(2022) TaxCorp(LJ) 29516 (ITAT-DELHI)
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Trade advances, which are in the nature of commercial transactions would not fall within the ambit of the word advance in section 2(22)(e) of the Act.
Today Hotels Pvt. Ltd. Vs Asstt. Commissioner of Income Tax
(2022) TaxCorp(LJ) 29509 (ITAT-DELHI) · Section 2(22)(e)
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Penalty cannot be automatic and every addition in the assessment proceedings cannot be gate way for levy of penalty.
Nabors Drilling International Ltd. Vs DCIT
(2022) TaxCorp(LJ) 29508 (ITAT-MUMBAI)
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Sufficient cause under the Limitations Act should be construed liberally to advance substantial justice.
Inscribe Graphics Ltd. Vs The Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 29507 (ITAT-CHENNAI)
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The additional evidences filed by assessee in respect of unsecured loan were necessary to adjudicate the grounds of appeal as also on the principle of natural justice.
Ishika Foods (P) Ltd. Vs The Income-tax Officer
(2022) TaxCorp(LJ) 29506 (ITAT-JAIPUR)
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Extending credit to non-members, could not debar PACS from availing deduction u/s 80P.
Koduvayur Service Co-operative Bank Ltd. Vs Income Tax Officer
(2022) TaxCorp(LJ) 29505 (ITAT-COCHIN) · Section 80P
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Unless a specific exception is provided in the circular w.r.t. penalty also, it could by no means be construed that penalty was to be treated at par with the quantum additions.
Air Vision Technologies Vs Income Tax Officer
(2022) TaxCorp(LJ) 29504 (ITAT-MUMBAI)
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Discount on issue of ESOP was allowable as deduction u/s.37(1) of the Act as primary object was not to vest capital but to earn profits by securing consistent services of employees.
Mahindra Lifespace Developers Ltd Vs Dy.CIT
(2022) TaxCorp(LJ) 29503 (ITAT-MUMBAI) · Section 37(1)
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Mere generation of surplus cannot be a reason to deny exemption u/s 11.
Janodaya Trust Vs ACIT
(2022) TaxCorp(LJ) 29502 (ITAT-BANGALORE) · Section 11
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A bank pass book or bank statement cannot be considered to be a 'book' maintained by the assessee for any previous year for the purpose of Section 68.
Vishan Swaroop Gupta Vs I.T.O.
(2022) TaxCorp(LJ) 29501 (ITAT-JAIPUR) · Section 68
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In the professional field there are innovative ways visualized by the professional to make themselves visible and to build their own professional profile for generating higher and value added business, and such scholarships created is visibility in international arena and his social standing.
Harish N. Salve Vs ACIT
(2022) TaxCorp(LJ) 29500 (ITAT-DELHI) · Section 37
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Without any substantive material, assessee cannot be construed as owner of the WTGs. Payment made by it to Wescare can be treated only as a consumption charge for electricity supplied to them, for business purpose.
Tube Investments of India Ltd Vs Commissioner of Income Tax
(2022) TaxCorp(LJ) 29499 (HC-MADRAS)
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Provision of Article 289 is not applicable as the Trust did not fall under Article 12 of the Constitution since it has a separate legal entity distinct from the state.
Udupi Nirmithi Kendra Vs ACIT
(2022) TaxCorp(LJ) 29498 (ITAT-BANGALORE) · Section 11
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License fee paid for purchases of software is not in the nature of royalty under India-Singapore DTAA and assessee is not liable to deduct TDS u/s 195.
Reliance Corporate IT Park Ltd Vs DCIT
(2022) TaxCorp(LJ) 29484 (ITAT-MUMBAI)
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If funds kept in fixed deposits is having inextricable link with project, then interest earned on short term deposits should be reduced from work in progress, but cannot be assessed under the head income from other sources.
Hitachi Automotive Systems (India) Pvt. Ltd Vs The Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 29483 (ITAT-CHENNAI)
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