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HC - Entitlements earned on sale of carbon- credit is a capital receipt.
Subhash Kabini Power Corporation Ltd. Vs. CIT
(2016) TaxCorp(LJ) 10162 (HC-KARNATAKA)
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ITAT - Income earned from slot chartering in certain vessels sailing from Port of India is not taxable in India under Article 8 of India-Indonesia DTAA.
K Cargo Global Agencies, Indonesia vs. ITO
(2016) TaxCorp(LJ) 10161 (ITAT-AHMEDABAD)
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HC - AO’s determination of foreign income by allocating expenses between domestic income and foreign income on a proportionate basis upheld.
Continental Carriers vs. CIT
(2016) TaxCorp(LJ) 10160 (HC-DELHI) · Section. 80O
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ITAT - If the undertaking is carrying out integrated activities by employing hired labourers or by taking warehousing facilities on rent and hiring transportation facilities, the undertaking is eligible to claim deduction u/s. 80IB(11A)
Anurag Radhesham Attal vs. ITO
(2016) TaxCorp(LJ) 10159 (ITAT-PUNE) · Section. 80IB(11A)
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HC - Revenue’s adjustment u/s 245 without affording an opportunity of being heard to assessee is not valid.
Vijay Singh Kadan vs. CCIT
(2016) TaxCorp(LJ) 10158 (HC-DELHI) · Section. 245
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SC - HC justified in excluding period for which interim stay against special audit direction u/s 142(2A) was in operation for counting period of limitation for passing block assessment order.
VLS Finance Limited Vs. COMMISSIONER OF INCOME TAX & ANR.
(2016) TaxCorp(LJ) 10157 (SC)
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HC - To fall under the ambit of Sec 73 explanation, there should be a “business” of speculative transactions. Loss on share-sale transaction for assessee engaged in manufacturing, not speculative.
Rajapalayam Mills Limited vs. DCIT
(2016) TaxCorp(LJ) 10156 (HC-MADRAS) · Section. 73
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ITAT - No TDS u/s 195 on commission payment to foreign agent for obtaining purchase order from Indian subsidiary of a foreign company.
Accurate Engineering Co. Pvt. Ltd. vs. DCIT
(2016) TaxCorp(LJ) 10155 (ITAT-PUNE)
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ITAT - No penalty u/s 271(1)(c) where under-reporting was attributed to online tax-filing portal's mistake.
Richa Dubey vs. ITO
(2016) TaxCorp(LJ) 10154 (ITAT-MUMBAI)
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S. 195/ 40(a)(ia): Commission paid to a non-resident for services rendered outside India is not chargeable to tax in India and is not liable for TDS. Insertion of Explanation 4 to s. 9(1)(i) and Explanation 2 to s. 195(1) by FA 2012 w.r.e.f. 01.04.1962 and insertion of Explanation below s. 9 (2) by FA 2010, w.r.e.f. 01.06.1976 makes no difference to the law
CIT vs. Farida Leather Company
(2016) TaxCorp(LJ) 10153 (HC-MADRAS) · Sections 195, 40(a)(ia)
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S. 54F: The demolition of a structure does not amount to a "transfer". It is not correct to contend that Vania Silk Mills 191 ITR 647 (SC) is overruled by Grace Collis 248 ITR 323 (SC). Lower authorities cannot refuse to apply binding High Court judgements on the basis that the High Court has not considered a Supreme Court judgement
Dilip Manhar Parekh vs. DCIT
(2016) TaxCorp(LJ) 10152 (ITAT-MUMBAI) · Section 54F
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ITAT - Reopening of assessment which is contrary to the binding precedence of the Jurisdictional High Court is invalid in law and cannot be sustained.
Travotel (India) Pvt Ltd. vs. ITO
(2016) TaxCorp(LJ) 10151 (ITAT-MUMBAI)
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ITAT - There is no condition in Art. 24 of India-Singapore DTAA that the money ought to be remitted to or received in other Contracting State 'in the relevant fiscal year', as long as the income was received though in subsequent year.
Imerys Asia Pacific Pvt. Ltd. vs. DDIT
(2016) TaxCorp(LJ) 10150 (ITAT-PUNE)
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S. 15, 17, 192: Concept of "salary" explained. Held that as "tips" are paid to employees of the assessee from an outsider on a voluntary basis and the employees have no vested right to receive the same, the same is not "salary" and the assessee has no obligation to deduct TDS
ITC Limited vs. CIT
(2016) TaxCorp(LJ) 10149 (SC) · Sections 15, 17, 192
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S. 245: Approach of the department of setting off / adjusting refund against demand without serving a prior s. 245 intimation to the assessee and without providing opportunity of hearing to assessee & without arriving at a satisfaction to the effect that such adjustment of refund can only be the mode of recovery of demand is bad in law. Dept directed to refund the amount set off / adjusted together with interest
Vijay Singh Kadam vs. CCIT
(2016) TaxCorp(LJ) 10148 (HC-DELHI) · Section 245
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SC - TDS u/s 192 on salaries is not applicable on payment of tips by assessee hotel to its staff/waiters.
ITC LIMITED GURGAON Vs COMMISSIONER OF I.T. (TDS) DELHI
(2016) TaxCorp(LJ) 10147 (SC)
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S. 147: If the assessee responds to the S. 142(1)/ 143(2) notices, it means that he has submitted to the AO's jurisdiction and is estopped for filing a Writ Petition to challenge the same. The fact that the jurisdiction is challenged while participating in the proceedings is irrelevant
Amaya Infrastructure Pvt. Ltd vs. ITO
(2016) TaxCorp(LJ) 10146 (HC-BOMBAY) · Sections 142(1), 143(2), 147
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S. 147/ 148, 151: Law on validity of reopening where S. 148 notice is issued in a mechanical manner, based on information received from another AO, and sanction is accorded by the CIT in a mechanical explained
Banke Bihari Properties Pvt. Ltd vs. ITO
(2016) TaxCorp(LJ) 10145 (ITAT-DELHI) · Sections 147, 148, 151
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ITAT - Agreement (Magazing sharing advertisement) between assessee and Kingfisher was on account of sharing of incremental advertisement revenue and cannot be said to be in the nature of works contract
DCIT vs. VJM Media (P) Ltd.
(2016) TaxCorp(LJ) 10144 (ITAT-MUMBAI) · Section 194C
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ITAT - Provisions related to TDS on foreign remittance and appeal u/s 248 explained.
International Air Transport Association vs. ADIT
(2016) TaxCorp(LJ) 10143 (ITAT-MUMBAI) · Section 248
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