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HC - Jurisdiction u/s 260A is to decide the substantial questions of law therefore condones delay in filing appeal due to change in counsel.
Precot Meridian Ltd Vs High Court Madras
(2021) TaxCorp(LJ) 27464 (HC-MADRAS)
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HC - Cargo handling services is covered under ‘infrastructure facility’ u/s 80-IA(4).
Menzies Aviation Bobba (Bangalore) Pvt Ltd Vs PR. COMMISSIONER OF INCOME TAX-2, The DCIT
(2021) TaxCorp(LJ) 27463 (HC-KARNATKATA) · Section 80-IA(4)
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ITAT - No appeal against draft assessment order also consequences flowing from the wrong mentioning of the section in the draft order cannot legally validate the appeal filed against the draft order.
Sandvik Mining and Construction Tools AB Vs ACIT
(2021) TaxCorp(LJ) 27418 (ITAT-PUNE)
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HC - Any proceeding relating to benami transactions ought to be taken up immediately or atleast within reasonable period of limitation of three years as generally provided under the Limitation Act, 1963.
Kalyan Buildmart Pvt. Ltd Vs Deputy Commissioner of Income Tax
(2021) TaxCorp(LJ) 27411 (HC-RAJASTHAN)
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ITAT - AO’s assessment order passed without waiting for TPO’s report is erroneous and prejudicial to the interest of the Revenue u/s 263.
JNS Instruments Ltd Vs Pr. CIT
(2021) TaxCorp(LJ) 27410 (ITAT-DELHI)
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ITAT - Revision order u/s 263 stems from regular assessment order and not the reassessment order as such revisionary order is time-barred - Limitation period u/s 263 would run from the regular assessment order.
Royal Western India Turf Club Vs Principal Commissioner of Incometax-8
(2021) TaxCorp(LJ) 27409 (ITAT-MUMBAI) · Section 263
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ITAT - Siphoned off amount from the company cannot be considered as accretion to the wealth within the meaning of section 2(ea)(vi) of the Wealth Tax Act.
B.Ramalinga Raju Vs Asst. Commissioner of Wealth Tax
(2021) TaxCorp(LJ) 27408 (ITAT-HYDERABAD)
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ITAT - Activities carried out by the Bombay Chamber of Commerce to be charitable in nature even under the amended definition u/s 2(15) and Assessee to be eligible for exemption u/s 11.
Bombay Chamber o f Commerce & Mackinnon Mackenzie Building Vs The Income- tax Officer
(2021) TaxCorp(LJ) 27402 (ITAT-MUMBAI) · Section 2(15)
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ITAT - Delay in remitting the TDS to Government account was due to RBI and Assessee had deposited the TDS through a pay order in time - Not assessee-in-default u/s 201.
The Jammu & Kashmir Bank Ltd Vs Income Tax Officer TDS -3(4)
(2021) TaxCorp(LJ) 27401 (ITAT-MUMBAI) · Section 201
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ITAT - Where Assessee is engaged in business of trading and investment in shares and securities then diminution in value of shares held as closing stock can not be treated bogus loss so as to attract section 68.
Hillview Impex Pvt. Ltd Vs Jt. Commissioner of Income Tax
(2021) TaxCorp(LJ) 27400 (ITAT-MUMBAI) · Section 68
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HC - Writ allowed - CIT required to pass a reasoned order u/s 264 while determining applicability of beneficial rate of dividend under India-Mauritius DTAA.
Xchanging Technology Services India Private Limited Vs PRINCIPAL COMMISSIONER OF INCOME TAX-7 DELHI, & ANR
(2021) TaxCorp(LJ) 27393 (HC-DELHI) · Section 264
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HC - Faceless assessment order passed without issuance of SCN or the draft assessment order in non-compliance with Sec. 144B shall be non est.
Trendsutra Client Services Pvt. Ltd Vs The Asistant Commisioner of Income Tax
(2021) TaxCorp(LJ) 27391 (HC-BOMBAY) · Section 144B
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ITAT - For the year prior to AY 2016-17, maturity proceeds of fixed deposit by a Trust to be treated as capital receipt and not taxable.
Agricultural Produce Marketing Committee Vs Income-tax Officer
(2021) TaxCorp(LJ) 27367 (ITAT-BANGALORE)
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ITAT - ESOP expenditure is deductible u/s 37(1) being not in the nature of a contingent liability.
Network 18 Media & Investment Ltd Vs ACIT
(2021) TaxCorp(LJ) 27366 (ITAT-MUMBAI) · Section 37(1)
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Section 260A(1) allows appeal against ITAT’s order only on a question of law which must be debatable and not previously settled.
Bhadani Financiers Pvt. Ltd Vs PR. COMMISSIONER OF INCOME TAX
(2021) TaxCorp(LJ) 27365 (HC-DELHI) · Section 260A
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ITAT - In absence of PE in India, software license-fee not taxable as business profits and also not taxable as Royalty.
Husco International Inc. Vs ACIT (IT)
(2021) TaxCorp(LJ) 27364 (ITAT-PUNE)
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HC - Since ITAT has condoned the delay in filing appeal by a speaking order, HC sets aside rejection of Assessee’s application under VsV Act.
Maheshbhai Shantilal Patel Vs THE PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL
(2021) TaxCorp(LJ) 27363 (HC-GUJARAT)
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HC - Para 4(B) of CBDT Office Memorandum dt. Feb 29, 2016 is mandatory in nature and Revenue has to give reasons for pre-deposit of more than 20% demand.
Eko India Financial Services Private Limited Vs ASSISTANT COMMISSIONER OF INCOME TAX
(2021) TaxCorp(LJ) 27335 (HC-DELHI)
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ITAT - Ground-rent does not come under any of the items mentioned in various clauses of section 43B. So, no disallowance on account of damages demanded by L&DO for misuse of the premises could be made even under section 43B.
Ajay Enterprises Pvt. Ltd Vs DCIT
(2021) TaxCorp(LJ) 27334 (ITAT-DELHI) · Section 43B
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ITAT - Claim for set-off of interest expenditure on borrowed funds against income from investment of borrowed funds allowed.
Hinduja National Power Corporation Limited Vs DCIT
(2021) TaxCorp(LJ) 27333 (ITAT-HYDERABAD)
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