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HC - No TDS u/s 194C or 194J for payments of demat charges and other charges levied by NSDL and CDSL since such charges were in the nature of recovery of cost or expenses at large and not for providing any professional or technical service.
Principal Commisisoner of Income Tax-1 Versus Shah Investors Home Ltd.
(2017) TaxCorp(LJ) 13655 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=70032&Category=Judgment&CategoryType=Zip
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HC - It would be wholly inequitable for the AO to merely sit over the petitioner's request for refund citing the availability of time upto the last date of framing the assessment under sub-section (3) of section 143. AO directed to complete the assessment latest by 31.10.2017.
Corrtech International Pvt. Ltd. Versus Deputy Commissioner of Income-Tax
(2017) TaxCorp(LJ) 13654 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=70031&Category=Judgment&CategoryType=Zip
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HC - No TDS u/s 194J since no service, which can be termed to be technical service, was provided by HRTC to the development authority, so also no managerial, technical or consultancy services were provided.
Pr. Commissioner of Income Tax Versus M/s. H.P. Bus Stand Management & Development Authority
(2017) TaxCorp(LJ) 13653 (HC-HP) · http://taxcorp.in/FileOpenDT.aspx?ID=70029&Category=Judgment&CategoryType=Zip
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HC - The successor officer is not justified in stating that there is no necessity to afford an opportunity of personal hearing, when his predecessor had thought it fit to do so.
Shri K.M. Vidyasagar Versus Commissioner of Income Tax-VI, Income Tax Officer
(2017) TaxCorp(LJ) 13652 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=70028&Category=Judgment&CategoryType=Zip
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ITAT - Hoardings rent received by a co-operative housing society for installing hoardings in the compound is chargeable under the head 'income from house property' and not 'income from other sources'.
Bimanagar Co. Op. Housing Society Ltd. vs. ITO
(2017) TaxCorp(LJ) 13651 (ITAT-AHMEDABAD)
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ITAT - No wealth tax liability in respect of seized cash pursuant to search and seizure operation u/s. 132 as the same is not 'cash in hand'.
B Rajeshwar Rao vs. ACIT
(2017) TaxCorp(LJ) 13650 (ITAT-HYDERABAD)
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ITAT - In the context of Sec. 244A(1)(b), the expression 'tax' would include interest also and the definition of tax in Sec. 2(43) meaning 'income-tax' may not be applicable in the context of Sec. 244A(1). Interest available u/s. 244A on refund of interest u/s. 234B.
ACIT. Vs. National Dairy Development Board
(2017) TaxCorp(LJ) 13649 (ITAT-AHMEDABAD) · Section. 244A
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Transfer Pricing: A giant risk taking company like Infosys Technologies with huge significant intangibles and having huge assets leading to the exorbitant turnover is not comparable with a captive unit which is subject to minimum/ limited risk. The fact that the functional profile of Infosys is similar to that of the assessee is irrelevant
CIT. vs. Ut Starcom Inc.
(2017) TaxCorp(LJ) 13648 (HC-DELHI)
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S. 147/ 148: Despite numerous judgements on the reopening of assessments, the Revenue authorities are repeating the same errors. Accordingly, Guidelines are laid down and the Revenue is directed to adhere to them
Sabh Infrastructure Ltd. vs. ACIT
(2017) TaxCorp(LJ) 13647 (HC-DELHI) · Sections. 147, 148
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ITAT - If this procedure is not followed of issuing the notice u/s 154 and giving reasonable opportunity of being heard, further exercise will be non est.
Aparna Ashram C/o. Sh. K.S. Pathania Versus ADIT (E) , Delhi
(2017) TaxCorp(LJ) 13646 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=58123&Category=ITAT&CategoryType=Zip
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ITAT - Penalty u/s 221(1) to be levied for non-payment of self-assessment tax u/s 140A even after the tax has been paid by revising the return.
Claris Life Sciences Limited Versus Deputy Commissioner of Income Tax (OSD), Range 1, Ahmedabad
(2017) TaxCorp(LJ) 13645 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=58116&Category=ITAT&CategoryType=Zip
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ITAT - Where software is incorporated in a CD it becomes a tangible property and the payment made for acquiring the same is not a payment by way of royalty. No disallowance u/s 40(a)(i) for non payment of TDS.
Dy. CIT (IT) -4 (2) (2), Mumbai Versus M/s. Societe Generale
(2017) TaxCorp(LJ) 13644 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=58112&Category=ITAT&CategoryType=Zip
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ITAT - The PAN follows the jurisdiction. It is not the jurisdiction that follows the PAN. The effective date of transfer of jurisdiction is the date of order passed by Commissioner of Income Tax and not the transfer of PAN.
Capstone Securities Analysis Pvt. Ltd. Versus Dy. Commissioner of Income Tax, Circle – 1 (1), Pune
(2017) TaxCorp(LJ) 13643 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=58110&Category=ITAT&CategoryType=Zip
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ITAT - Once Key Man Insurance Policy is sold as a life insurance policy, as long as it is in the nature of life insurance policy, whether pure life cover or term cover or a growth or guaranteed return policy, it is eligible for coverage of Section 10(10D).
M/s. Capital Local Area Bank Ltd. Versus Addl. CIT-III, Dy. CIT-III, DCIT, Range-III, Dy CIT, Range-III, Dy CIT, Range-III, And ACIT, Circle-3, Jalandhar
(2017) TaxCorp(LJ) 13642 (ITAT-AMRITSAR) · http://taxcorp.in/FileOpenDT.aspx?ID=57036&Category=ITAT&CategoryType=Zip
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HC - Interest on FDRs used as borrowing margin money (LC opening) for funds used for setting up the business is taxable as 'income from other sources'.
Bhawal Synthetics (India) Udaipur vs. CIT
(2017) TaxCorp(LJ) 13641 (HC-RAJASTHAN)
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High Court states that it is “most unhappy” with the manner in which the Tribunal has decided the appeal. The Tribunal remanded the matter to the AO without any discussion as to why the order of the CIT(A) is perverse or is contrary to law. It also did not pint out infirmities or errors of fact and law in the order of the CIT(A). The Tribunal failed to perform its duty of rendering a complete decision. It is obliged in law to examine the matter and reappraise and reappreciate all the factual materials
Thyrocare Technologies Limited
(2017) TaxCorp(LJ) 13640 (HC-BOMBAY)
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S. 271(1)(c) penalty: The quantum of returned income (Rs. 34.94 crore) and tax paid (Rs.10.85 crore) vis-a-vis the addition/ disallowance (Rs. 13 lakh) indicates whether there was a mala fide intention to conceal. Deferral of depreciation allowance does not result in concealment of income or furnishing of furnishing of any inaccurate particulars. No penalty can be levied for a sheer accounting error of debiting loss incurred on sale of a fixed asset to the P&L A/c instead of reducing the sale consideration from the WDV of the block
Harish Narinder Salve vs. ACIT
(2017) TaxCorp(LJ) 13639 (ITAT-DELHI) · Section. 271(1)(c)
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HC - Writ dismissed - Transfer of case u/s 127 to facilitate co-ordinated investigation in search and seizure cases involving group companies, is valid.
Sarjoo Sahkari Chini Mills Vs. CIT
(2017) TaxCorp(LJ) 13638 (HC-GUJARAT) · Section. 127
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HC - Excise duty paid but where proof (evidence for payment) is not submitted then Sec 43B disallowance justified.
CIT. vs. Sarjoo Sahkari Chini Mills Ltd.
(2017) TaxCorp(LJ) 13637 (HC-ALLAHABAD) · Section. 43B
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HC - There is no need to distinguish between capital and revenue expenditure in case of deduction u/s. 35(2AB) and entire in-house R&D expenditure to be allowed without bifurcating the same into revenue and capital expenditure.
Eicher Motors Vs. CIT
(2017) TaxCorp(LJ) 13636 (HC-DELHI) · Section. 35(2AB)
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