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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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It cannot be said that the collection of amount towards placement or training, or its utilisation is in a manner which is not solely for educational purposes.
Orissa Trust of Technical Education and Training Vs The Chief Commissioner of Income Tax
(2022) TaxCorp(LJ) 29075 (HC-ORISSA) · Section 10(23C)
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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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Assessee’s claim under Section 80-IA(4) was allowed by the Revenue in flagrant violation of Section 80(5) and the assessment order passed was contrary to the plain provisions of the Act.
Mahavir Civil Engineering Vs PCIT (Central)
(2022) TaxCorp(LJ) 29073 (ITAT-PUNE) · Sections 80-IA, 80(5)
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It is accepted principle of accounting that the loss has to be recorded as and when it is determined whereas the profit has to be recorded only when it is actually realised.
Ascent Hydro Projects Pvt. Ltd Vs Pr. CIT – 9
(2022) TaxCorp(LJ) 29072 (ITAT-MUMBAI)
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Intimation issued under Section 143(1) is against first proviso to Section 143(1)(a), and entire exercise under Section 143(1) is invalid in law.
Arham Pumps Vs DCIT
(2022) TaxCorp(LJ) 29071 (ITAT-AHMEDABAD) · Section 143(1)
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There was no positive balance of the capital account of the Assessee with the firm and thus the question of balance in her capital account being returned to her certainly did not arise.
Ramona Pinto Vs ACIT
(2022) TaxCorp(LJ) 29070 (ITAT-MUMBAI) · Section 28(iv)
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CAM charges are in the nature of contractual payments made for availing maintenance services and they are not paid for use of any premises / equipment.
Lifestyle International Pvt. Ltd Vs The Asst. Commissioner of Income tax TDS
(2022) TaxCorp(LJ) 29069 (ITAT-BANGALORE) · Sections 194C, 194-I
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Revenue shall proceed de novo from the stage of reply to show cause notice by the Assessee.
Abhinav Mittal Vs UNION OF INDIAAND 2 ORS.
(2022) TaxCorp(LJ) 29062 (HC-GAUHATI) · Section 148A(d)
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If the law permits Revenue to take further steps in the matter, they shall be at liberty to do so. Needless to state that if and when such steps are taken and if the petitioner has a grievance, it shall be at liberty to take its remedies in accordance with law.
Indus Towers Ltd Vs INCOME TAX OFFICER & ORS
(2022) TaxCorp(LJ) 29061 (HC-DELHI)
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Where huge amounts credited to the bank account of the assessee, source of which is not explained, the provision of section 68 of the Act are applicable.
Nayan Arvind Lalan Vs The Income Tax Officer
(2022) TaxCorp(LJ) 29060 (ITAT-MUMBAI)
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The exchange traded derivative transaction carried on by the assessee prior to insertion of Section 43(5)(d) were speculative transactions the loss incurred in those transactions were liable to be treated as speculative loss and not business loss.
Souvenir Developers (I) Pvt. Ltd Vs The Union of India
(2022) TaxCorp(LJ) 29053 (HC-BOMBAY) · Sections 43(5), 73
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ESPN India is merely a reseller of advertisement space it purchases on ESPN UK’s website.
ESPN Digital Media (India) Pvt. Ltd Vs The DCIT
(2022) TaxCorp(LJ) 29046 (ITAT-CHENNAI)
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The word remitted to or received in Article 24 have to be interpreted literally and By any stretch of reasoning, the word 'remitted' cannot be read as accrued for the purposes of Article 24.
PACC Container Line Pvt. Ltd Vs ITO
(2022) TaxCorp(LJ) 29045 (ITAT-HYDERABAD)
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Decision was required to be taken by the PCIT on merits of the matter.
Unisource Hydro Carbon Services Private Limited & Anr Vs Unisource Hydro Carbon Services Private Limited & anr.
(2022) TaxCorp(LJ) 29044 (HC-CALCUTTA)
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When there was a mistake, error or omission on part of the Tribunal, then it is the duty of Tribunal to set it right.
GVPR Engineers Ltd Vs The Asst. Commissioner of Income Tax
(2022) TaxCorp(LJ) 29043 (ITAT-HYDERABAD)
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Since the conditions of Article 12(4)(b) are not satisfied, the amount received cannot be treated as FTS.
Microstrategy Singapore Pte. Ltd Vs ACIT
(2022) TaxCorp(LJ) 29042 (ITAT-DELHI)
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Merely because the training program was of boarding nature, that cannot change the nature of program to fall in the purview of services, for which consideration should be FIS.
Russell Reynolds Associates Inc Vs DCIT
(2022) TaxCorp(LJ) 29041 (ITAT-DELHI)
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There must be concealment of income by the assessee or the assessee must have furnished inaccurate particulars of income in order to attract Section 276 C.
Noorjahan Vs The Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 29040 (HC-MADRAS) · Section 276C
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The Assessee was not obliged to deduct tax at source under Section 195 while remitting the amount to GT UK LLP.
Grant Thornton Advisory (P.) Ltd Vs DCIT
(2022) TaxCorp(LJ) 29039 (ITAT-DELHI)
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