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Conversion of advances receivable from sister concern to debentures does not amount to diversion of funds.
G.S. Pharmbutor P. Ltd Vs Addl.CIT
(2021) TaxCorp(LJ) 28013 (ITAT-DELHI)
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Merely because the accounts were audited after grant of registration u/s 12AA of the Act under the peculiarity of the present case, would not ipso facto vitiate the authenticity of the accounts so furnished before the Revenue.
Hardayal Charitable & Educational Trust Vs DCIT
(2021) TaxCorp(LJ) 28012 (ITAT-DELHI)
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The business constraints and exigencies and administrative convenience itself constitutes reasonable cause within the meaning of Section 273B, and thus no penalty u/s 271D and 271E could be invoked.
Macrotech Developers Limited Vs DCIT(CC)7(3)
(2021) TaxCorp(LJ) 28011 (ITAT-MUMBAI)
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Assessee is not eligible for benefit under Article 12(5)(c) of the India-US DTAA, the order does not contain any reasoning or discussion on the applicability or otherwise of various sub-articles of the DTAA to the facts of the case.
Coursera INC Vs INCOME TAX OFFICER TDS
(2021) TaxCorp(LJ) 28004 (HC-DELHI) · Section 10(50)
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The stage of the proceedings is irrelevant for alteration of the charge.
G. Victor Devasahayam Vs The Assistant Commissioner of Income Tax
(2021) TaxCorp(LJ) 28002 (HC-MADRAS)
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AO is directed to pass appropriate order pursuant to the conclusion of proceedings with the DRP.
Azuga Telematics Private Limited Vs The Additional Income Tax officer
(2021) TaxCorp(LJ) 28001 (HC-KARNATKATA)
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ITAT - Payment to AE in Belgium for using the IT Infrastructure facility falls within the ambit of royalty u/s 9(1)(vi) as also under Article 12 of India- Belgium DTAA - Disallowance u/s 40(a)(i) for TDS default justified.
Bekaert Industries Private Limited Vs DCIT
(2021) TaxCorp(LJ) 27998 (ITAT-PUNE)
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HC - Writ Dismissed - Rejection of applications under VsV Act on the grounds of pending criminal proceedings justified.
Reliance Industries Limited Vs Chief Commisioner of Income Tax
(2021) TaxCorp(LJ) 27997 (HC-BOMBAY)
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HC - Assessment order passed without DRP directions set aside.
Fiberhome India Private Limited Vs NATIONAL E-ASSESSMENT CENTRE, ADDITIONAL – JOINT – DEPUTY – ASSISTANT COMMISSIONER OF INCOME TAX – INCOME-TAX OFFICER
(2021) TaxCorp(LJ) 27996 (HC-DELHI)
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ITAT - Section 80-IA(12A) neutralizes the applicability of Section 80-IA(12) only and do not disentitle the successor entity to claim deduction u/s 80-IA - Hence, deduction u/s 80-IA received under a scheme of amalgamation for the residual period is available.
Ultratech Cement Ltd Vs DCIT
(2021) TaxCorp(LJ) 27989 (ITAT-MUMBAI) · Section 80-IA
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Mere fact that decision is not acceptable to the Revenue cannot be a ground for not following the decision of higher authority.
Cotecna Inspection SA Vs INCOME TAX OFFICER WARD INTERNATIONAL TAX
(2021) TaxCorp(LJ) 27988 (HC-DELHI)
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HC - Writ dismissed - Prima facie the ingredients of the offences u/s 276C(1) were satisfied - No prerequisite that detailed reasons for sanctioning prosecution to be given.
Nayan Jayantilal Balu Vs Union of India
(2021) TaxCorp(LJ) 27981 (HC-BOMBAY) · Section 276C
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A challenge of this nature would have to be brought before the Court by a person aggrieved.
Amit Sahni Vs UNION OF INDIA & ANR.
(2021) TaxCorp(LJ) 27980 (SC)
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HC - Cost of raising floor of water-logging prone warehouse resulted in the benefit of continued business and increased compensation from the customer and as such the expenditure to be related conduct of Assessee’s business and integral part of profit earning process, and thus revenue in nature.
Jetha Properties Private Limited Vs The Commisioner of Income Tax
(2021) TaxCorp(LJ) 27979 (HC-BOMBAY)
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ITAT - Education cess is not deductible u/s 40(a)(ii) since education cess is additional surcharge as per the Finance Acts. Disagrees from Bombay HC ruling in Sesa Goa and Rajasthan HC ruling in Chambal Fertilizerssince. Relied on SC ruling where surcharge and additional surcharge were held to be a part of the income-tax.
Kanoria Chemicals & Industries Ltd Vs Addl. CIT
(2021) TaxCorp(LJ) 27972 (ITAT-KOLKATA) · Section 40(a)(ii)
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SC - Pending disposal of appeal, status-quo shall be maintained by the parties and to facilitate an early disposal - Dispose appeal preferably in 3 months.
Indus Towers Ltd. Vs ASSISTANT COMMISSIONER OF INCOME TAX
(2021) TaxCorp(LJ) 27971 (SC)
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HC - Assessee has been put to prejudice which cannot be remedied and also no sufficient cause has been shown for such delay, declines to condone the inordinate delay in filing the appeal.
Nitu Agarwal Vs PRINCIPAL COMMISSIONER OF INCOME
(2021) TaxCorp(LJ) 27970 (HC-CALCUTTA)
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ITAT - Irrecoverable advance paid in the course of business allowed as trading loss as assessee had proceeded u/s 138 of the Negotiable Instruments Act against the managing director of the entity.
Foretell Business Solutions Pvt. Ltd Vs The Income Tax Officer
(2021) TaxCorp(LJ) 27969 (ITAT-BANGALORE)
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Assessee’s treatment of the rental income is upheld.
Lewis Family Trust Vs ITO
(2021) TaxCorp(LJ) 27968 (ITAT-MUMBAI) · Section 24(a)
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The Assessee being a partnership firm, was not under a statutory obligation for complying with the CSR provisions.
M.Hanumantha Rao Vs The Assistant Commissioner of Income-tax
(2021) TaxCorp(LJ) 27967 (ITAT-BANGALORE) · Section 37(1)
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