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HC - Expenses incurred after closure of unit arising out of statutory compulsion are allowable u/s 37(1).
Commissioner of Income Tax-7 Versus M/s. Nicholas Piramal (India) Ltd.
(2016) TaxCorp(LJ) 10205 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=65285&Category=Judgment&CategoryType=Zip
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HC - Where the issuance of a notice itself was not within the prescribed period, the question of whether it was served correctly or otherwise, would be of no relevance whatsoever.
Commissioner of Income Tax (Exemption) , Lucknow Versus M/s Sushila Umrao Singh Charitable & Educational Trust, Allah
(2016) TaxCorp(LJ) 10203 (HC-ALLAHABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=65287&Category=Judgment&CategoryType=Zip
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HC - AO’s belief that assessee’s India subsidiary constituted its PE cannot be 'reason' for reopening of assessment in the hands of the assessee.
ADOBE SYSTEMS INCORPORATED Vs. ASSISTANT DIRECTOR OF INCOME TAX AND ANR
(2016) TaxCorp(LJ) 10200 (HC-DELHI)
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ITAT - No deduction for ESOP expenses incurred through ESOP trust for buying equity shares from its employees.
Shriram Insight Share vs. DCIT
(2016) TaxCorp(LJ) 10199 (ITAT-CHENNAI)
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S. 50C/ 54F: In allowing exemption u/s 54F, the deemed consideration u/s 50C has to be taken into consideration and it cannot be restricted to the consideration mentioned in the sale deed
ITO vs. Kondal Reddy Mandal Reddy
(2016) TaxCorp(LJ) 10198 (ITAT-HYDERABAD) · Sections 50C, 54F
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Transfer Pricing: High Court irked at fact that Dept is unaware of which of its matters are admitted/ dismissed. Chief CIT directed to streamline the procedure for filing appeal before the High Court. Adjustment can be made only for transactions attributable to the International taxation
CIT vs. TCL India Holdings Pvt. Ltd
(2016) TaxCorp(LJ) 10197 (HC-BOMBAY)
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HC - CBDT Instruction No. 1/2015 dated January 13, 2015, shall not be relied upon to deny tax refund to an assessee where notice for scrutiny assessment u/s. 143(3) has been issued to the assessee.
TATA TELESERVICES LIMITED Vs. CENTRAL BOARD OF DIRECT TAXES & ANR.
(2016) TaxCorp(LJ) 10196 (HC-DELHI) · Section. 119
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ITAT - ‘Customer relationship rights’ paid upon acquisition of business undertaking cannot be regarded as non-compete fees.
Incap Contract Manufacturing Services Pvt. Ltd. vs. DCIT
(2016) TaxCorp(LJ) 10195 (ITAT-BANGALORE)
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HC - Sec. 48 will be applicable to shareholders directly receiving part de-merger consideration instead of transferor co.. Same not not "diversion of income at the very source".
CIT. vs. Salora International Ltd.
(2016) TaxCorp(LJ) 10194 (HC-DELHI)
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ITAT - Once a claim is not arising out of the mandate and directions of the Tribunal, then, the same cannot be raked up or a fresh claim can be made in the second round of proceedings.
Lifeline Health Centre vs. DCIT
(2016) TaxCorp(LJ) 10193 (ITAT-MUMBAI)
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ITAT - Partners’ remuneration allowable from income which was offered to tax as unexplained investment u/s 69.
ITO. Vs. Roshan
(2016) TaxCorp(LJ) 10192 (ITAT-CHENNAI) · Section. 69
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ITAT - Deeming provisions of Sec. 50C not applicable to transfer of rights in land as the same cannot be equated to land or building or both.
Smt. Devindraben I. Barot Vs. Income Tax Officer
(2016) TaxCorp(LJ) 10191 (ITAT-AHMEDABAD) · Section. 50C
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HC - For AY 2001-02, no Sec 40(a)(i) disallowance to an Indian company for TDS default on payment to US company towards administrative fee.
HERBALIFE INTERNATIONAL INDIA PVT. LTD.Vs. COMMISSIONER OF INCOME TAX
(2016) TaxCorp(LJ) 10190 (HC-DELHI) · Section. 40(a)(ia)
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ITAT - Where delay in appeal-disposal was not attributable to assessee then stay can be granted beyond 365 days.
Google India Private Ltd. Vs. The Deputy Commissioner of Income Tax
(2016) TaxCorp(LJ) 10189 (ITAT-BANGALORE)
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SC - SLP Dismissed - HC had held that penalty u/s 271(1)(c) cannot be deleted on guise or pretence of legal opinion as a smokescreen and façade.
N.G. TECHNOLOGIES (IN LIQUIDATION) Vs COMMISSIONER OF INCOME TAX
(2016) TaxCorp(LJ) 10188 (SC)
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SC - Where requisite and due enquiries were not made during assessment proceedings, revision u/s 263 was justified.
CIT. vs. Amitabh Bachchan
(2016) TaxCorp(LJ) 10187 (SC)
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ITAT - Amount received by foreign resident from its Indian affiliate under Management and Administration Services agreement constitutes royalty for supply of commercial information.
TNT Express Worldwide (UK) Limited vs. DDIT (International Taxation)
(2016) TaxCorp(LJ) 10186 (ITAT-BANGALORE)
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SC - Rent can be said to have accrued or arisen only when a right to receive the same is vested in the assessee even in case of retrospective enhancement.
P.G.& W.SAWOO PVT. LTD. Vs. ACIT
(2016) TaxCorp(LJ) 10185 (SC)
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ITAT - Stock Appreciation Rights received by employee from US parent of an Indian company is taxable either as benefit in lieu of salary or as perquisite u/s 17.
Shri Soundarrajan Parthasarathy Vs. DCIT
(2016) TaxCorp(LJ) 10184 (ITAT-CHENNAI)
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ITAT - Absent PE in India, income arising to a Mauritian entity from installation and construction of off-shore platforms in India, not taxable.
J. Ray Mc Dermott Eastern Hemisphere Ltd. Vs. ADIT (IT) 1(2)
(2016) TaxCorp(LJ) 10183 (ITAT-MUMBAI)
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