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ITAT - TDS u/s 194C applicable on payments to various T.V channels for broadcasting its serials during fixed time slots.
DCIT TDS 1 (1) , Mumbai Versus Balaji Telefilms Ltd.
(2017) TaxCorp(LJ) 13436 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=57501&Category=ITAT&CategoryType=Zip
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S. 144C DRP: Action of the DRP in granting time to the assessee till 24th July 2017 to submit documents but in still passing the order on the same day itself and that too without taking on record the documents produced by the assessee is clearly unreasonable and in violation of the principles of natural justice
Systra SA Project Office vs. DRP
(2017) TaxCorp(LJ) 13435 (HC-DELHI) · Section 144C
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S. 14A/ Rule 8D: Entire law explained on what constitutes proper recording of satisfaction by the AO, scope of disallowance of interest expenses under Rule 8D(2)(i), admin expenses under Rule 8D(2)(iii), need for nexus between borrowed funds and tax-free investments and power of the ITAT to remand to the AO
H. T. Media Limited vs. Pr CIT
(2017) TaxCorp(LJ) 13434 (HC-DELHI) · Section 14A
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S. 143(2)/ 144C: Though service of the notice is not a condition precedent to conferment of jurisdiction upon the AO to deal with the matter, it is a condition precedent to making of the order of assessment. Accordingly, the s. 143(2) notice has not only to be issued before the expiry of the limitation period but has also to be served upon the assessee before the expiry of the limitation period. Conflict between VRA Cotton Mills (P&H) and Lunar Diamonds 281 ITR 1 (Del) explained in light of CBDT Circular No. 549 dated 31.10.1989
Cameron (Singapore) Pte Ltd vs. ADIT
(2017) TaxCorp(LJ) 13433 (ITAT-JAIPUR) · Sections 143(2), 144C
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ITAT - Reopening of assessment not valid as AO has invoked the jurisdiction u/s 147 without completing original enquiry initiated u/s 143(2).
Pradeep Sharma Versus DCIT, Central Circle-17, New Delhi
(2017) TaxCorp(LJ) 13432 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=57485&Category=ITAT&CategoryType=Zip
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ITAT - No disallowance of stamp duty charges paid at the time of registration of rent agreement in the absence of any capital asset coming into existence in the hands of the company.
M/s E-Smart Systems Private Limited Versus ITO Ward - 8 (3), New Delhi
(2017) TaxCorp(LJ) 13431 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=57486&Category=ITAT&CategoryType=Zip
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ITAT - In case of international transaction of ‘Purchase of finished goods’ RPM is the most appropriate method in the given circumstances.
ACIT, Circle 1 (1), New Delhi Versus Akzo Nobel Car Refinishes India Pvt. Ltd. And Vice-Versa
(2017) TaxCorp(LJ) 13430 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=57487&Category=ITAT&CategoryType=Zip
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HC - Reopening of assessment relying on material which was not part of the assessment proceedings and which material was provided by the investigation wing unearthed during the course of investigation, sustained.
Pushpak Bullion Pvt Ltd. Versus Deputy Commissioner of Income Tax - Circle - 3 (1)
(2017) TaxCorp(LJ) 13429 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=69771&Category=Judgment&CategoryType=Zip
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HC - Use of the word ‘may’ in Sec. 69C makes the deeming provision discretionary and not mandatory. Assessing authority has full discretion either to add or not to add the unexplained expenditure in the income of the assessee based upon sound judicial principles.
Late Rama Shankar Yadav vs. PCIT
(2017) TaxCorp(LJ) 13428 (HC-ALLAHABAD) · Section. 69C
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HC - Writ Dismissed - No second writ petition praying for same reliefs as in the earlier writ petition which was withdrawn by assessee.
Kamal Galani vs. ACIT
(2017) TaxCorp(LJ) 13427 (HC-BOMBAY)
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ITAT - In view of Explanation 2(a) to Sec. 263 inserted by Finance Act, 2015, acceptance of return without any enquiry/verification, makes AO’s order liable for revision u/s. 263.
Avathan Marimuthu Vs. Asst. Commissioner of Income Tax
(2017) TaxCorp(LJ) 13426 (ITAT-CHENNAI)
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ITAT - Product testing fee to foreign AE for testing its products does not amount to fees for technical services. Np TDS u/s 195.
Gates India (P) Ltd. vs. ACIT
(2017) TaxCorp(LJ) 13425 (ITAT-DELHI) · Section. 195
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HC - Explanation to Sec. 37(1) was not attracted to assessee’s payment for commission to Jordan based company as the same is not illicit under Volcker-report.
Ajanta Pharma Limited Vs. Commissioner of Income Tax Central IV
(2017) TaxCorp(LJ) 13424 (HC-BOMBAY) · Section. 37
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HC - Processes for converting 24 carat standard gold into 22 carat gold ornaments amount to manufacture eligible for Sec. 80-IB deduction.
Lakesh Handa vs. PCIT
(2017) TaxCorp(LJ) 13423 (HC-J&K)
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HC - Sec. 11(6) can't be applied retrospectively to AYs prior to AY 2015-16. Depreciation claim of Trust allowed.
DIT. Vs. Medical Trust of the Seventh Day
(2017) TaxCorp(LJ) 13422 (HC-MADRAS)
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ITAT - A Primary Agricultural Credit Society registered under the Kerala Co-operative Societies Act, 1969 is entitled to the benefit of deduction u/s. 80P(2).
Income Tax Officer, Ward-3, Tirur Versus Edarikode Service Co-operative Bank Ltd. And Vice-Versa
(2017) TaxCorp(LJ) 13414 (ITAT-COCHIN) · http://taxcorp.in/FileOpenDT.aspx?ID=57457&Category=ITAT&CategoryType=Zip
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ITAT - As ‘Web Hosting Charges’ can safely be construed as a facility which is provided to facilitate hosting of a website, therefore, the fee provided by the assessee for availing such service cannot be characterized as a ‘as a fee for technical service’. No TDS u/s 194J.
Metro Shoes Ltd. Versus Income Tax officer (TDS) -2 (2) , Mumbai And Vice-Versa
(2017) TaxCorp(LJ) 13413 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=57461&Category=ITAT&CategoryType=Zip
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ITAT - The process of manufacturing DG sets does not involve mere ascending of parts but is actually a manufacturing process resulting in the manufacture of new product from the raw materials by giving them new properties. Deduction u/s 80IB allowed.
ACIT Circle-II, Faridabad Versus Sunil Parkash, Prop. M/s. Cromewell Industries And Vice-Versa
(2017) TaxCorp(LJ) 13412 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=57463&Category=ITAT&CategoryType=Zip
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ITAT - The object for which a statutory corporation, or any other body, association or institution is created is the crucial aspect for determining the eligibility for availing benefit u/s. 10(26B).
M/s. Lakshadweep Development Corporation Ltd. Versus The Assistant Commissioner of Income-tax, Circle-1 (2), Ernakulam
(2017) TaxCorp(LJ) 13411 (ITAT-COCHIN) · http://taxcorp.in/FileOpenDT.aspx?ID=57464&Category=ITAT&CategoryType=Zip
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HC - The non-compete fee cannot be termed as a camouflage or well- orchestrated plan to avoid tax recognizing taxpayer’s stature in advertising industry. Non-compete fee was a non-taxable capital receipt.
CIT. vs. Tara Sinha
(2017) TaxCorp(LJ) 13410 (HC-DELHI)
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