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Non-consideration of decisions would not make the order erroneous which would call for any interference in u/s 254(2).
Gateway Terminals India Pvt Ltd Vs DCIT
(2022) TaxCorp(LJ) 28867 (ITAT-MUMBAI)
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Sec 11(7), which restricts the availability of exemption u/s 10 (34) to Charitable trusts, came into effect only from April 01, 2015 whereas the subject AY dealt with in this case is AY 2013-14.
Shishir Bajaj Charitable Trust Vs Income Tax Officer-17(3)(3)
(2022) TaxCorp(LJ) 28866 (ITAT-MUMBAI) · Sections 10(34), 11
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Since assessment order is completed after making due enquiries, revision proceedings cannot be initiated.
Tata Realty and Infrastructure Limited Vs Principal Commissioner of Income tax-2
(2022) TaxCorp(LJ) 28865 (ITAT-MUMBAI)
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Capital gains on sale of land and building can be computed separately.
Muppala Bhasker Reddy Vs DCIT
(2022) TaxCorp(LJ) 28864 (ITAT-BANGALORE)
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Law clearly provides for deduction u/s 80IA to be granted after set off of unabsorbed depreciation.
Atul Ltd Vs The DCIT (OSD)
(2022) TaxCorp(LJ) 28863 (ITAT-AHMEDABAD) · Section 80-IA
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In certain circumstances, income of the discretionary trust shall be assessed to tax as AOP.
Mamania Family Trust Vs ACIT
(2022) TaxCorp(LJ) 28862 (ITAT-MUMBAI) · Section 2(31)
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The advances/deposits made during the regular course of business, which later became irrecoverable eventually leading to write off of the same would only be a regular business loss under Section 28.
Yatra Online Private Limited Vs PCIT (Central)
(2022) TaxCorp(LJ) 28861 (ITAT-MUMBAI)
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Cost of construction of the first floor which in effect was not part of transfer of property shall not be considered for computing capital gains.
Vishal Varma Siruvuri Vs Income Tax Officer
(2022) TaxCorp(LJ) 28860 (ITAT-VISAKHAPATNAM)
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As long as the bonus or commission is paid to the directors for services rendered and as a part of their employment, it was to be allowed.
SRC Aviation P. Ltd Vs ASSISSTANT COMMISSIONER OF INCOME TAX & ANR.
(2022) TaxCorp(LJ) 28859 (HC-DELHI)
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Rejecting a declaration on the ground of ineligibility without giving a chance to declarant to explain his case goes against the very object of the scheme of the Act.
Govindrajulu Naidu Vs The Principal Commisioner of Income Tax
(2022) TaxCorp(LJ) 28852 (HC-BOMBAY)
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Agreement was entered only with the objective to ensure that excessive competition does not erode its profitability and business growth.
Unilever India Export Limited Vs The Dy. Commissioner of Income Tax
(2022) TaxCorp(LJ) 28851 (ITAT-MUMBAI)
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In cases where notice was issued by an incompetent authority having no jurisdiction, such matter is to be remanded back to the authority competent for reconsideration.
Watanmal Boolchand & Co., Ltd Vs The Assistant Director of Income Tax
(2022) TaxCorp(LJ) 28850 (HC-MADRAS)
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ITAT - Forex gain arising from repayment of personal loan given on capital account and not in the course of business to be treated as capital receipt not chargeable to tax.
Aditya Balkrishna Shroff Vs Income Tax Officer
(2022) TaxCorp(LJ) 28849 (ITAT-MUMBAI)
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ITAT - Opportunity to rebut written submission was not given to assessee and further, there is nothing on record to show that the right to be heard was consciously and knowingly waived - Rectification u/s 154 set aside.
Amrik Singh Bhullar Vs The ITO
(2022) TaxCorp(LJ) 28848 (ITAT-CHANDIGARH) · Section 154
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SC - Fresh claim for treating exchange loss on forex loan as revenue expenditure allowed since loan taken for business expansion.
Wipro Finance Ltd Vs COMMISSIONER OF INCOME TAX
(2022) TaxCorp(LJ) 28847 (SC) · Section 37(1)
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As per Section 201(3) the limitation would extend till March 31, 2015, however the order was passed under Section 201(1A) on March 28, 2014, which is well within the limitation.
Bangalore Metro Rail Corporation Limited Vs The DCIT
(2022) TaxCorp(LJ) 28840 (ITAT-BANGALORE)
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On compliance of CIT(A)’s order by the parties, CIT(A) can pass appropriate orders so as to lift the lien on FDs as directed by SC vide order dt. Mar 4, 2020.
Cognizant Technology Solutions India Private Limited Vs The Commissioner of Income Tax (Appeals)
(2022) TaxCorp(LJ) 28839 (HC-MADRAS)
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If sale consideration specified in the agreement is along with certain liability, then the full value of consideration for the purpose of computing capital gains under Section 48 of the Act is the consideration specified in the agreement as reduced by the liability.
Dinesh Vazirani Vs The Principal Commisioner of Income Tax
(2022) TaxCorp(LJ) 28838 (HC-BOMBAY) · Section 264
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Merely because the clients are outside India does not means that the assessee is carrying on business outside India.
Infosys Limited Vs The Deputy Commissioner of Income-tax
(2022) TaxCorp(LJ) 28837 (ITAT-BANGALORE) · Section 9
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Trading of shares done by delivery and derivative transactions in shares is not speculative transaction.
Bharat Mines and Minerals Vs DCIT
(2022) TaxCorp(LJ) 28830 (ITAT-BANGALORE)
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