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Since assessee itself had deducted TDS u/s. 194IA and therefore, the assessee being a deductor cannot plead inapplicability of the aforesaid provision.
Cornerview Construction & Developers Pvt Ltd Vs ACIT
(2019) TaxCorp(LJ) 19579 (ITAT-MUMBAI) · Section 234E
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S. 143(2) Notice/ Rule 127: There is a difference between "issue" of notice and "service" of notice. Service of notice is a pre-condition for assuming jurisdiction to frame the assessment. Under Rule 127, service at the PAN address is valid even if it is different from the address in the Return. If a notice is issued but is returned unserved by the postal authorities and thereafter no effort is made to serve another notice before the deadline, it shall be deemed to be a case of "non-service" and the assessment order will have to be quashed
Anil Kisanlal Marda vs. ITO
(2019) TaxCorp(LJ) 19578 (ITAT-PUNE) · Section 143(2)
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S. 147/ 148: Even in a case where the return is accepted u/s 143(1) without scrutiny, the fundamental requirement of income chargeable to tax having escaped assessment must be satisfied. Mere non-disclosure of receipt would not automatically imply escapement of income chargeable to tax from assessment. There has to be something beyond an unintentional oversight or error on the part of the assessee in not disclosing such receipt in the return of income. In other words, even after non-disclosure, if the documents on record conclusively establish that the receipt did not give rise to any taxable income, it would not be open for the AO to reopen the assessment referring only to the non disclosure of the receipt in the return of income. The attempt of further verification would amount to rowing inquiry
The Swastic Safe Deposit and Investments Ltd vs. ACIT
(2019) TaxCorp(LJ) 19577 (HC-BOMBAY) · Sections 147, 148
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In order to earn goodwill of the people residing in the neighbor-hood area and to keep social relations with residents, assessee company has to incur certain expenditure, which would ultimately facilitate the assessee’s business, otherwise there would be friction or law and order situation which would arise if it adopt continuous unfriendly approach with the residents residing in the surrounding areas.
GUJARAT FLUOROCHEMICALS LTD. VERSUS ACIT, RANGE-1, AHMEDABAD
(2019) TaxCorp(LJ) 19576 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=76150&Category=ITAT&CategoryType=Zip
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We find merit in the arguments of the Ld. Counsel for the assesee that the AO could not enquire into the selection of the donee or the purpose of the donation unless the genuineness is doubted.
INCOME TAX OFFICER (EXEMPTION), WARD – 1 (1), NEW DELHI VERSUS ESCORTS CARDIAC DISEASES HOSPITAL SOCIETY, C/O. ESCORTS HEARD INTT. & RESEARCH CENTRE, OKHLA ROAD, NEW DELHI
(2019) TaxCorp(LJ) 19575 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=76153&Category=ITAT&CategoryType=Zip
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It appears from the records that the appellant incurred expenses pertain to Advertisement and other general business promotion through engagement of a party in UK.
THE DCIT/ACIT, CIRCLE – 1 (1) (1), VADODARA. VERSUS M/S. CRYOGAS EQUIPMENT PVT. LTD.
(2019) TaxCorp(LJ) 19574 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=76151&Category=ITAT&CategoryType=Zip
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Facts reveal that in the impugned order dated 25.10.2018 the third respondent granted the petitioner three days time to pay at least 20% of the demand and produce a copy of the challan to him. Thus, though the instruction provides for review before the PCIT, sufficient time was not granted to the petitioner.
VODAFONE INDIA SERVICES PVT. LTD. VERSUS UNION OF INDIA AND 2 OTHER (S)
(2019) TaxCorp(LJ) 19573 (HC-GUJARAT) · https://taxcorp.in/FileOpenDT.aspx?ID=79004&Category=Judgment&CategoryType=Zip
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The assessee being dissatisfied with the order passed by the CIT preferred an appeal before the Appellate Tribunal. Tribunal took the view that the CIT while holding that the assessment order was erroneous in exercise of its power u/s 263 ought to have indicated that the conclusion or findings recorded by the AO were either not based on correct facts or the order had been passed in breach of the provisions of the Act or revision made thereunder.
PRINCIPAL COMMISSIONER OF INCOME TAX 2 VERSUS HARIKRISHAN S VIRMANI
(2019) TaxCorp(LJ) 19572 (HC-GUJARAT) · https://taxcorp.in/FileOpenDT.aspx?ID=79010&Category=Judgment&CategoryType=Zip
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In the present case, buy-back of shares in accordance with Section 77A of the Companies Act was completed before 01.06.2013 and the Income Tax Returns filed by the petitioners were also accepted by the Assessing Officer, however notice un/s 143(2) dated 28.08.2015 and 31.08.2015 were issued and the impugned Draft Assessment Orders came to be passed on 31.12.2017, i.e., nearly about 2 1/2 years after initiation of the proceedings
COGNIZANT (MAURITIUS) LIMITED, COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION VERSUS THE DEPUTY COMMISSIONER OF INCOME TAX, MS. HELEN RUBY JESINDHA
(2019) TaxCorp(LJ) 19571 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=79011&Category=Judgment&CategoryType=Zip
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Illegal gratification addition made merely based on Shunglu Committee's Commonwealth Games probe is deleted.
GL Litmus Events Pvt. Ltd Vs The Assistant Commissioner of Income Tax
(2019) TaxCorp(LJ) 19570 (ITAT-DELHI)
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ITAT - Agricultural income - correctly held that there is no merit in assessing total receipts in the hands of assessee and at best, the AO could have determined the loss/income assessable in the hands of assessee - growing of hybrid seeds can never be held to be non-agricultural activity - entitled to claim deduction u/s 10(1)
THE DY. COMMISSIONER OF INCOME TAX, CIRCLE 1 (2) , AND THE INCOME TAX OFFICER, WARD 1 (4) , PUNE VERSUS GENUINE SEEDS PVT. LTD.,
(2019) TaxCorp(LJ) 19569 (ITAT-PUNE) · https://taxcorp.in/FileOpenDT.aspx?ID=76129&Category=ITAT&CategoryType=Zip
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ITAT - TP Adjustment - adjustment regarding outstanding receivables - company has a margin of 23.3% on Software Development segment as compared to 11.42% of the comparable companies, which shows that the working capital adjusted margin of the assessee have already factored into account the delay in the receivables - therefore no separate adjustment is required to be made
M/S. BARCO ELECTRONIC SYSTEMS (P.) LTD. VERSUS DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-4 (1), NEW DELHI
(2019) TaxCorp(LJ) 19568 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=76132&Category=ITAT&CategoryType=Zip
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ITAT - Revision u/s 263 - since interest on late deposit of VAT, service tax, TDS etc are allowable expenditure u/s 37(1), the AO has taken a possible view - order passed by the AO u/s 143(3) is neither erroneous nor prejudicial to the interest of Revenue and cannot be held to be unsustainable in law - revision quashed
M/S. EMDEE DIGITRONICS PVT. LTD. VERSUS PR. CIT-4, KOLKATA
(2019) TaxCorp(LJ) 19567 (ITAT-KOLKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=76133&Category=ITAT&CategoryType=Zip
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We are dealing with a case where it is a block assessment pursuant to a search and we are guided by the legal principles set out in the above mentioned decisions which clearly and consistently held that in the absence of any material found during the course of search regarding the undisclosed investment, the assessee cannot be penalized solely based on the valuation report provided by the Department.
SHRI BABU MANOHARAN VERSUS THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE I (3), CHENNAI
(2019) TaxCorp(LJ) 19566 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=78999&Category=Judgment&CategoryType=Zip
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This issue was decided in favour of the assessee and the revenue did not prefer any appeal against the said finding recorded by the CIT(A) in paragraph 5 and 6 of its order dated 30.06.2016. Therefore, the Revenue is not entitled to canvass the said contention before this Court. Accordingly, substantial question of law no.3 is rejected.
THE COMMISSIONER OF INCOME TAX, CHENNAI. VERSUS M/S. RAMESH RAJAN CONSTRUCTION P LTD.
(2019) TaxCorp(LJ) 19565 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=79001&Category=Judgment&CategoryType=Zip
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This circular thus lays down 15% of the disputed demand to be deposited for stay, by way of a general condition. The circular does not prohibit or envisage that there can be no deviation from this standard formula.
SHRI DALPATSINH UKABHAI VASAVA VERSUS THE PRINCIPAL COMMISSIONER OF INCOME TAX - 2
(2019) TaxCorp(LJ) 19564 (HC-GUJARAT) · https://taxcorp.in/FileOpenDT.aspx?ID=79003&Category=Judgment&CategoryType=Zip
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Even if the property is not transferred, then there is a right created by the “Land Development Control Rules, 1991” [DCR] attached with the land embedded in it.
State Bank of India Staff Vaibhav Co-op Hsg. Ltd Vs ITO
(2019) TaxCorp(LJ) 19563 (ITAT-MUMBAI)
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The assessee was put in possession of the property in 1992 and was enjoying the property as that of an absolute owner except to fulfill the terms and conditions of the lease-cum-sale deed.
SOUTH INDIA MINERALS CORPORATION VERSUS THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE XIV, CHENNAI.
(2019) TaxCorp(LJ) 19562 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=78988&Category=Judgment&CategoryType=Zip
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If a debt had become irrecoverable the same could be written off and deducted from the profit of the business. A debt, the recovery of which was doubtful could not be termed to be an ascertained liability as mentioned u/s 115J of the Act and could not be excluded from the book profits.
M/S. EID PARRY (INDIA) LIMITED VERSUS THE ASST. COMMISSIONER OF INCOME TAX, COMPANY CIRCLE - II (1) , CHENNAI, THE JOINT COMMISSIONER OF INCOME TAX, SPECIAL RANGE - I, CHENNAI
(2019) TaxCorp(LJ) 19561 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=78990&Category=Judgment&CategoryType=Zip
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The agreement for sale should not be read in isolation, but should be read in conjoint with the power of attorney which in sum and substance is irrevocable.
SHRI C. SHRINIVASAN VERSUS THE DEPUTY COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 3 (2), CHENNAI
(2019) TaxCorp(LJ) 19560 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=78991&Category=Judgment&CategoryType=Zip
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