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Notices issued prior to filing of application cannot be a bar in terms of proviso (i) to sec.245R(2) of the Act, for admitting the application.
Centrient Pharmaceuticals Vs CIT
(2021) TaxCorp(LJ) 26229 (HC-AAR)
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The cost shall be recovered personally from the officer(s) who opined the case to be fit for filing the appeal. The same shall not be reimbursed by the department under any circumstances.
Indian Roadways Corp ltd Vs PCIT
(2021) TaxCorp(LJ) 26228 (HC-CALCUTTA)
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While selling the fertilizer, it recovers part cost from farmers and part cost through Government by way of concession and hence, the subsidy is related to its business activity as the subsidy claim arises only upon sale of the fertilizer to the farmers.
Tata Chemicals Limited Vs Deputy Commissioner of Income Tax-2(3)
(2021) TaxCorp(LJ) 26227 (ITAT-MUMBAI) · Section 80IB
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The assessee may be given benefit of set off of income determined u/s 68 of the Act against unabsorbed loss as the assessment years involved in these appeals are 2013-14 and 2014-15 which are prior to assessment year 2017-18.
M/s Inter State Oil Carrier Ltd Vs DCIT
(2021) TaxCorp(LJ) 26220 (ITAT-KOLKATA) · Section 68
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FMV needs to be substantiated only when valuation is done under Expl. (a)(ii) and not under Expl. (a)(i) to Sec. 56(2)(viib).
Sakthi Textiles Ltd Vs The Deputy Commissioner of Income Tax
(2021) TaxCorp(LJ) 26219 (ITAT-CHENNAI) · Section 56(2)(viib)
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Where no addition has been made by the Assessing Officer towards unexplained investment u/s 69 for which the notice has been issued u/s 148 of the Act, the very basis for reassessment doesn’t exist anymore.
Sheela Yogi Vs ITO
(2021) TaxCorp(LJ) 26218 (ITAT-JAIPUR)
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The assessee had no reason to keep the cash at home when the dispute was settled in 2019.
Leela Devi Vs ITO
(2021) TaxCorp(LJ) 26217 (ITAT-DELHI) · Section 69A
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As per the settled position of law, the appellate authorities are obligated to dispose off all the grounds of appeal raised by the appellant before them so that multiplicity of litigation may be avoided.
Tanna Builders Ltd Vs DCIT
(2021) TaxCorp(LJ) 26216 (ITAT-MUMBAI)
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Interim relief is being granted by allowing petitioner- assessee to file return manually in view of a technical difficulty in e-filing utility while making loss set-off claim and had further restrained recovery proceedings.
S.K.Ventures Vs ITO
(2021) TaxCorp(LJ) 26215 (HC-BOMBAY)
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Exemption u/s 54 can be availed if the full amount of capital gain is utilized within time limit u/s 139(4).
Harminder Kaur Vs ITO
(2021) TaxCorp(LJ) 26209 (ITAT-DELHI)
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The legislature has specifically expanded the meaning of the term land to include rights or interests in land as well, which was not done in Sec.50C.
V. S. Chandrashekar Vs ASSISTANT COMMISSIONER OF INCOME TAX
(2021) TaxCorp(LJ) 26202 (HC-KARNATKATA) · Section 50C
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Reliance placed on such uncorroborated and untested statement of Shri. Nilesh Bharani while making the additions to the income of the petitioner is highly questionable, that too, when for the previous assessment year he retracted the statement.
Dilipkumar P.Chheda Vs IncomeTaxOfficer-4(1), Thane & Ors.
(2021) TaxCorp(LJ) 26201 (HC-BOMBAY)
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Where the TDS statements have been filed after 01.6.2015 and processing thereof happens and intimation issued thereafter, the Assessing officer is well within his jurisdiction to levy fees under section 234E of the Act.
Special Judge Court SC/ST (Prevention of Atrocities Cases) Vs ITO
(2021) TaxCorp(LJ) 26200 (ITAT-JAIPUR) · Section 234E
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Forfeiture of the convertible warrant had resulted in extinguishment of the right of the assessee, thus constituted transfer u/s 2(47) and allowed the STCL claim.
Azalea Infrastructure Pvt Ltd Vs DCIT
(2021) TaxCorp(LJ) 26193 (ITAT-DELHI)
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The income on sale of shares has to be regarded as LTCG.
United Spirits Limited Vs The Joint Commissioner of Income Tax
(2021) TaxCorp(LJ) 26192 (ITAT-BANGALORE)
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Up to AY 2019-20, compensation received for termination of any agreement cannot be taxed u/s.28(ii)(e) of the Act.
Sai Mirra Innopharm Private Limited Vs The Income Tax Officer
(2021) TaxCorp(LJ) 26185 (ITAT-CHENNAI) · Section 28(va)(a)
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Option money received by the assessee is capital receipt which requires an adjustment only at the time of transfer of the shares by Dabur to CUIH while working out resultant capital gain.
Dabur Invest Corp Vs The Joint Commissioner of Income Tax
(2021) TaxCorp(LJ) 26184 (ITAT-DELHI)
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Considering the fact that for the previous year, certain benefit was conferred by way of notification dated 08.05.2020, in our view, it would be appropriate for the petitioner to approach the CBDT.
Gaurav Baid Vs UNION OF INDIA & ORS.
(2021) TaxCorp(LJ) 26177 (SC)
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The actual group cost is allocated to respective countries benefited to these services in proportion to the revenue in that country and are incurred outside India.
Expeditors International of Washington Inc Vs DCIT
(2021) TaxCorp(LJ) 26176 (ITAT-DELHI)
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Deduction cannot be denied to the assessee in view of the Explanation 1 inserted to section 35(1)(ii) by Finance Act, 2006 with retrospective effect from April 01, 2006.
MRC Transolutions Pvt. Ltd Vs ACIT
(2021) TaxCorp(LJ) 26175 (ITAT-PUNE)
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