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ITAT - Income from offshore services, though chargeable under section 9(1)(vii), was no taxable if it is provided outside India without any connection with PE in India.
IHI Corporation v. ADIT (International Taxation)-3, Mumbai
(2015) TaxCorp(LJ) 9464 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenINTL.aspx?ID=8115&Category=INTLDecisions&CategoryType=Zip
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ITAT - Where in preceding years, revenue had adopted multiple year data for determination of margin of comparables, addition cannot be made by considering current year data.
Deputy Commissioner of Income-tax, Circle-11 (1), New Delhi v. Innodata Isogen India (P.) Ltd.
(2015) TaxCorp(LJ) 9463 (ITAT-DELHI) · http://taxcorp.in/FileOpenINTL.aspx?ID=9341&Category=INTLDecisions&CategoryType=Zip
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HC - No evidence was taken by Assessing Officer by examining any of patients that he had paid any amount, in cash, over and above what was stated in register, impugned addition was to be set aside.
Commissioner of Income-tax, Ranchi v. Smt. Pratima Prasad
(2015) TaxCorp(LJ) 9462 (HC-JHARKHAND) · http://taxcorp.in/FileOpenDT.aspx?ID=62131&Category=Judgment&CategoryType=Zip
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ITAT - Not correct to hold that since the agreement date for new property was beyond two years from transfer of original property, the investment in new property cannot be said to have been made within the prescribed period for exemption u/s 54F.
Smt. Rathan B Shetty vs. ACIT
(2015) TaxCorp(LJ) 9458 (ITAT-MUMBAI) · Section 54F
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S. 68: If the identity and other details of the share applicants are available, the share application money cannot be treated as undisclosed income in the hands of the Co. The addition, if at all, should be in the hands of the applicants if their creditworthiness cannot be proved
CIT vs. Vrindavan Farms (P) Ltd
(2015) TaxCorp(LJ) 9457 (HC-DELHI) · Section 68
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S. 147: Reopening solely on the basis of information received from another AO that the assessee has booked bogus bills but without independent application of mind to the information renders the reopening void
Unique Metal Industries vs. ITO
(2015) TaxCorp(LJ) 9456 (ITAT-DELHI) · Section 147
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Allotment of residential accommodation to ITAT Members should be dealt with by the Govt fairly and on a high-priority basis to enable them to discharge judicial work efficiently
The Income Tax Bar Association vs. UOI
(2015) TaxCorp(LJ) 9455 (HC-ALLAHABAD)
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Transfer Pricing: (i) If the AO & CIT make a mechanical reference to the TPO without applying mind to the TP report & other data filed by the assessee, the reference is invalid, (ii) A transfer pricing adjustment cannot be made if the assessee's income is exempt u/s 10A or 80HHE or (iii) if the AE is assessed at a rate of tax higher that tax rate in India
DCIT vs. Tata Consultancy Services Ltd
(2015) TaxCorp(LJ) 9454 (ITAT-MUMBAI) · Sections 10A, 80HHE
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S. 147/ 148: Issue of furnishing the ‘Reasons’ for reopening the assessment goes to the root of the matter. In the event of failure of the AO to furnish the reasons, the reopening is bad in law
Muller & Philpps (India) Ltd vs. ITO
(2015) TaxCorp(LJ) 9453 (ITAT-MUMBAI) · Sections 147, 148
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S. 50C should not be invoked if difference between stamp value and declared consideration is nominal, S. 14A/ Rule 8D does not apply to share application money, Pure foreign exchange hedging transactions cannot be treated as speculative transactions
ITO vs. LGW Limited
(2015) TaxCorp(LJ) 9452 (ITAT-KOLKATA) · Section 50C
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S. 37(1): Cost of Employees Stock Option (ESOP) debited to P&L A/c is allowable business expenditure
CIT vs. Lemon Tree Hotels Ltd
(2015) TaxCorp(LJ) 9451 (HC-DELHI) · Section 37(1)
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S. 154: Even if assessee offers interest income as "Other Sources" and claims set-off of brought forward business loss against it u/s 72, AO is not permitted to rectify as issue is debatable
K. S. Venkatesh vs. DCIT
(2015) TaxCorp(LJ) 9450 (HC-KARNATAKA) · Section 154
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S. 275(1)(c): For penalty proceedings initiated on issues unrelated to assessment of income (such as for s. 269SS/ 269T & TDS defaults), time limit runs from date of initiation of penalty proceedings and not from date of CIT(A)'s order
Pr. CIT vs. JKD Capital & Finlease Ltd
(2015) TaxCorp(LJ) 9449 (HC-DELHI) · Section 275(1)(c)
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S. 271B: The requirement in s. 44AB that the the tax audit report has to be obtained "before" the specified date has to be interpreted to mean "on or before" the specified date. So, even if the audit report is obtained "on" the specified date, there is no default
Chopra Properties vs. ACIT
(2015) TaxCorp(LJ) 9448 (ITAT-DELHI) · Section 271B
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S. 115JB: Even a non-taxable capital receipt credited to the P&L A/c cannot be excluded while computing the book profits. The fact that the notes to the A/cs state that the receipt is on capital account is irrelevant. Shivalik Venture distinguished
B & B Infotech Ltd vs. ITO
(2015) TaxCorp(LJ) 9447 (ITAT-BANGALORE) · Section 115JB
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Failure to give the assessee the right to cross-examine witnesses whose statements are relied up results in breach of principles of natural justice. It is a serious flaw which renders the order a nullity
Andaman Timber Industries vs. CCE
(2015) TaxCorp(LJ) 9446 (SC)
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SC - SLP Dismissed - Karnataka HC had rejected denial of deduction based on 'window dressing' accounts and held that benefit could not be denied as there was no intention to avoid tax.
CIT vs. Karnataka Soaps And Detergents Ltd.
(2015) TaxCorp(LJ) 9435 (SC)
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ITAT - MAT not applicable to a power generation co. for AYs 2005-06 to 2008-09, as the same being governed by special Act.
BSES Rajdhani Power Ltd vs. ACIT
(2015) TaxCorp(LJ) 9434 (ITAT-DELHI) · Section 40A(2)
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ITAT - Consideration received by an individual for relinquishing his rights over trademark jointly owned with assignee by way of family arrangement is a non-taxable capital receipt.
D.S. Thakur vs. ITO
(2015) TaxCorp(LJ) 9433 (ITAT-PUNE)
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ITAT - Gains arising on transfer of booking rights in 'office premises' is taxable as income from other sources and not long term capital gains.
S. Narendrakumar & Co vs DCIT
(2015) TaxCorp(LJ) 9432 (ITAT-MUMBAI)
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