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In the circumstance we have no agitation in restoring the entire assessment to the assessing officer for de novo adjudication.
Alcatel Lucent Portugal, SA Vs DCIT
(2022) TaxCorp(LJ) 28748 (ITAT-DELHI)
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Specified bank notes can be measured in monetary terms since the guarantee of the Central Government and the liability of Reserve Bank of India does not cease to exist till 31.12.2016.
Tatiparti Satyanarayan Vs Income Tax Officer
(2022) TaxCorp(LJ) 28747 (ITAT-VISAKHAPATNAM) · Section 69A
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In absence of any evidence that the speedboat was used for business purpose, the other financial parameters such as turnover, number of dealerships etc. were of no relevance.
Great White Goal P. Ltd Vs The Asst. CIT-CC7(2)
(2022) TaxCorp(LJ) 28746 (ITAT-MUMBAI)
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Since foreign exchange fluctuation arose on account of trading transactions and excess amount received due to upward revision of foreign exchange rate was part of sale proceeds only, said fluctuation was eligible for section 80-IC deduction.
Reckitt Benckiser Healthcare India Ltd Vs Add CIT
(2022) TaxCorp(LJ) 28745 (ITAT-AHMEDABAD) · Section 80
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An assessment is an integrated process not only involving computation of total income but also determination of the tax.
Caterpillar Global Mining Europe GMBH Vs Dy. Director of Income Tax, International Taxation-1
(2022) TaxCorp(LJ) 28744 (ITAT-HYDERABAD) · Section 144C
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In a third party scenario and in a comparable transaction, no person or entity would have invested in AJL’s shares which is a non-operational and non-income generating company.
Young Indian Vs ACIT (E)
(2022) TaxCorp(LJ) 28737 (ITAT-DELHI) · Section 28(iv)
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In the instant case, Assessee was aware that Facebook, Ireland was a non-resident and thus payment made to it was outside the purview of TDS.
Play Games 24X7 Private Limited Vs DY. CIT
(2022) TaxCorp(LJ) 28736 (ITAT-MUMBAI) · Section 195(2)
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Non-communication of the orders recording the reasons and the grant of approval to the assessee renders the retention of the documents beyond 30 days of completion of the assessment as illegal.
Udaya Sounds Vs THE PRINCIPAL COMMISSIONER OF INCOME TAX
(2022) TaxCorp(LJ) 28735 (HC-KERALA)
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JAO to consider all submissions made by the Assessee and grant a personal hearing with at least seven days advance notice.
Bharat Capital And Holdings Limited Vs Income Tax Oficer
(2022) TaxCorp(LJ) 28734 (HC-BOMBAY)
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A request for a detailed order can by no stretch of imagination be considered to be a rectification of mistake apparent from record.
GE Capital Services India and Others Vs ITO
(2022) TaxCorp(LJ) 28733 (ITAT-MUMBAI)
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A mere non-disclosure of a foreign asset in the income tax return, by itself, is not a valid reason for a penalty under the BMA.
Leena Gandhi Tiwari Vs Additional Commissioner of Income Tax
(2022) TaxCorp(LJ) 28726 (ITAT-MUMBAI)
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The Revenue’s adoption of fair value for making the addition is not in accordance with the provisions and was righty deleted by the CIT(A).
Kilitch Healthcare India Ltd Vs DCIT-6( 3)( 2)
(2022) TaxCorp(LJ) 28725 (ITAT-MUMBAI) · Section 56(2)(viib)
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Entire edifice of the assessment order was voluntariness to buy peace and avoid litigation which Revenue noted and accepted in the assessment order, thus, there was no question of misreporting.
Schneider Electric South East Asia (Hq) Pte Ltd Vs ASST COMMISSIONER OF INCOME TAX INTERNATIONAL TAXATION
(2022) TaxCorp(LJ) 28724 (HC-DELHI)
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Notices issued after Apr 01, 2021 are unsustainable and bad in law even if one was to apply the impugned Explanations to the Notifications, since they do not cover Section 147 (as amended) which empowers the Revenue reopen an assessment subject to Sections 148 to 153, which includes Section 148A.
Tata Communications Transformation Services Limited Vs Assistant Commissioner of Income Tax 14(1)
(2022) TaxCorp(LJ) 28723 (HC-BOMBAY)
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The income earned by the Assessee from the Indian customers with respect to the subscription fees for CRM cannot be taxed as royalty as per section 9(1)(vi) as well as Article 12(3) of the treaty.
Salesforce.com Singapore Pte Vs The Dy. D.I.T
(2022) TaxCorp(LJ) 28722 (ITAT-DELHI)
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Immunity granted by a tax amnesty scheme in respect of liabilities under some enactments, did not afford protection against action under other enactments or law.
M. R. Shah Logistics Pvt. Ltd Vs DEPUTY COMMISSIONER OF INCOME TAX
(2022) TaxCorp(LJ) 28721 (SC)
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Assessee’s case was selected for reassessment since it was flagged in Non-Filers Monitoring System.
Vodafone Luxembourg 5 S A R L Vs INCOME TAX DEPARTMENT, CIRCLE INTERNATIONAL - TAX 3 (1)(1)
(2022) TaxCorp(LJ) 28720 (HC-DELHI)
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In exercise of powers under Article 226 the courts require to independently consider the issues involved.
Vishal Ashwin Patel Vs Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 28715 (SC)
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The collection charges paid by AAI to the Assessee, nothing but service charges paid for collecting UDF and passing it on to AAI., which cannot be said to be the income derived from operation of aircraft falling under Article 8 of the DTAA.
Lufthansa German Airlines Vs DCIT
(2022) TaxCorp(LJ) 28714 (ITAT-DELHI)
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Deposit of demonetised notes collected by the Assessee from its members would not be hit by Section 68.
Bhageeratha Pattina Sahakara Sangha Niyamitha Vs ITO
(2022) TaxCorp(LJ) 28713 (ITAT-BANGALORE) · Section 68
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