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An additional ground with respect to additional evidence is admissable. The approach of the Tribunal in matters where the revenue seeks to fasten liability should be different, The Tribunal is the last fact-finding authority and the assessee has no other avenue to raise its grievances so far as facts are concerned. Ultimately if it is discovered that assessee is not liable to tax the revenue cannot have grievances Ultratech Cement vs. ACIT (2017) 81 TM.com 72 (Bom) distinguished
Nivea India Private Ltd vs. DCIT
(2017) TaxCorp(LJ) 13507 (ITAT-MUMBAI)
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S. 119: The CBDT has no jurisdiction to issue a Circular to amend the legislative provisions set out in the Act. Such action is ultra vires and liable to be quashed
CIT vs. S. V. Gopala Rao
(2017) TaxCorp(LJ) 13506 (SC) · Section 119
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ITAT - Where property was purchased from non-resident and on behalf of NRI, the payment made to bank/GPA, payments made constitutes the payments made to the non-resident and the TDS is deductible u/s 195.
Manne Rajesh Kumar Versus The Deputy Director of Income Tax (IT & TP), Visakhapatnam
(2017) TaxCorp(LJ) 13505 (ITAT-VISAKHAPATNAM) · http://taxcorp.in/FileOpenDT.aspx?ID=57655&Category=ITAT&CategoryType=Zip
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ITAT - Where books of account and other relevant documents were destroyed by natural calamity, i.e. flood, No Penalty u/s 271B .
Kanjan Marketing Versus ITO, Ward25 (3) (2), Mumbai
(2017) TaxCorp(LJ) 13504 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=57637&Category=ITAT&CategoryType=Zip
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ITAT - In case of professional doctors / Honorary Consultants, the real intention of the parties is appointment of consultants and not to create employer-employee relationship, TDS is liable to be deducted u/s 194J.
Jaslok Hospital & Research Centre Versus Dy. Commissioner of Income Tax (TDS) -2 (1), Mumbai
(2017) TaxCorp(LJ) 13503 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=57638&Category=ITAT&CategoryType=Zip
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HC - Scope of the term legal representative for tax recovery proceedings explained.
Arvind Kayan Versus Union of India & Others
(2017) TaxCorp(LJ) 13502 (HC-CALCUTTA) · http://taxcorp.in/FileOpenDT.aspx?ID=69854&Category=Judgment&CategoryType=Zip
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ITAT - Quarry land & development is an intangible asset being in nature of license for commercial right and for which the prescribed rate of depreciation as per the Income Tax Rules is at 25%.
DCIT, CC-XI, Kolkata Versus M/s Himalaya Granites Pvt. Ltd.
(2017) TaxCorp(LJ) 13501 (ITAT-KOLKATA) · http://taxcorp.in/FileOpenDT.aspx?ID=57618&Category=ITAT&CategoryType=Zip
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ITAT - Foreign travelling expenses incurred for purchase of Machinery from outside India cannot be treated as Capital Expenditure.
M/s Pile Foundation Co. Versus ITO, Ward 38 (3) , New Delhi
(2017) TaxCorp(LJ) 13499 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=57634&Category=ITAT&CategoryType=Zip
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HC - ITAT placed an unfair burden on the Assessee to prove that the expenditure paid to Doctor was incurred bonafide for the business purposes of the Assessee since Assessee had placed all the relevant details thereby discharging the initial onus.
Boston Scientific India Pvt. Ltd. Versus Assistant Commissioner of Income Tax
(2017) TaxCorp(LJ) 13498 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=69844&Category=Judgment&CategoryType=Zip
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HC - Embezzlement loss must be deemed to have arisen only when employer comes to know about it and realizes that the amount embezzled cannot be recovered and not merely from the date of acquiring knowledge in which that embezzlement has taken place.
J and K Bank Ltd. Versus Assistant Commissioner of Income Tax, Commissioner of Income Tax, Additional Commissioner of Income Tax
(2017) TaxCorp(LJ) 13497 (HC-J&K) · http://taxcorp.in/FileOpenDT.aspx?ID=69845&Category=Judgment&CategoryType=Zip
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ITAT - Deduction u/s. 80P is available to a credit cooperative society in respect of additions made u/s. 68.
Aman Chote Vyapari Vs The Dy. Commissioner of Income Tax
(2017) TaxCorp(LJ) 13496 (ITAT-PUNE) · Section 80P
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HC - Definition of legal representative as provided in Sec. 2(11) of the Code of Civil Procedure, 1908 and as understood in the context of Sec. 2(29) of the Income Tax Act is an inclusive, wider in scope and not confined to legal heir only and will include severed relationship with deceased father.
Arvind Kayan vs. Union Of India & Ors
(2017) TaxCorp(LJ) 13495 (HC-CALCUTTA)
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ITAT - A charitable institution which has treated amount spent on purchase of capital asset as application of income, is entitled to claim depreciation.
Sangam Educational Society, C/O Akhilesh Kumar, Advocate Versus Addl. CIT, Range-1, Ghaziabad
(2017) TaxCorp(LJ) 13493 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=57613&Category=ITAT&CategoryType=Zip
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HC - Mining for the purpose of production of mineral ore falls within the ambit of the word ‘production’, entitling the assessee to the benefit of Section 32(A).
The Principal Commissioner of Income Tax, Versus Sesa Goa Ltd.
(2017) TaxCorp(LJ) 13492 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=69836&Category=Judgment&CategoryType=Zip
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HC - If a practice is followed (arbitrage transactions) and the same does not violate any law then the impugned loss amounts to hedging loss and constitutes business loss.
The Commissioner of Income Tax (Central) - IV Versus M/s. Riddi Siddhi Bullions Ltd.
(2017) TaxCorp(LJ) 13491 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=69838&Category=Judgment&CategoryType=Zip
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Bogus Purchases: If the AO has not disputed the genuineness of sales and the quantitative details and the day to day stock register maintained by the assessee, a trader, he cannot make an addition in respect of peak balance of the bogus purchases. He can only determine the element of profit embedded in the bogus purchases. On facts, the addition is restricted to 2% of the bogus purchase
ACIT vs. Steel Line (India)
(2017) TaxCorp(LJ) 13490 (ITAT-MUMBAI)
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S. 263: Lack of inquiry vs. Inadequate inquiry: Revision on the ground that the AO did not conduct a detailed inquiry on account of paucity of time is unfair to the assessee and invalid (Amitabh Bachhan 384 ITR 200 (SC) & Maithan International 375 ITR 123 (Cal) distinguished
Pr CIT vs. Mera Baba Reality Associates Pvt Ltd
(2017) TaxCorp(LJ) 13489 (HC-DELHI) · Section 263
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ITAT - The section of public to whom benefit is intended is farmers constituting approx. 60% - 70% of population of country and the protection of interests of farmers will invariably confer several benefits. Society meets 'general public utility' criteria.
Bhartiya Kisan Sangh Sewa Niketan vs. CIT(Exemptions)
(2017) TaxCorp(LJ) 13488 (ITAT-DELHI)
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HC - Embezzlement loss by employees, to be allowed in year of ‘discovery' and not in the year of ‘detection'.
J and K Bank Ltd vs. ACIT
(2017) TaxCorp(LJ) 13487 (HC-J&K)
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HC - Television news software exported falls within the definition ‘customized electronic data’ occurring in clause (b) of the Explanation to Sec. 80HHE.
CIT vs. NDTV
(2017) TaxCorp(LJ) 13486 (HC-DELHI) · Section 80HHE
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