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ITAT - Since the assessment is made consequent to search in another case, the Assessing Officer is bound to issue notice u/s 153C and thereafter proceed to assess or reassess total income under section 153A.
G Koteswara Rao vs. DCIT
(2015) TaxCorp(LJ) 9314 (ITAT-VISAKHAPATNAM) · Sections, 147, 153A
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HC - Since liability, was contingent upon uncertain fact, deduction under section 43B was not permissible.
Oswal Agro Mills Ltd. v. Commissioner of Income-tax
(2015) TaxCorp(LJ) 9305 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=59168&Category=Judgment&CategoryType=Zip
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SC - SLP dismissed - HC had held that advances received for job work is not deemed dividend.
Commissioner of Income-tax-I v. Amrik Singh
(2015) TaxCorp(LJ) 9304 (SC) · http://taxcorp.in/FileOpenDT.aspx?ID=62200&Category=Judgment&CategoryType=Zip
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HC - Principles to avoid vexatious proceedings u/s 153C against person other than person searched.
Commissioner of Income-tax.-7 v. RRJ Securities Ltd.
(2015) TaxCorp(LJ) 9302 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=62193&Category=Judgment&CategoryType=Zip
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HC - Where Assessing Officer had completely overlooked stay applications, he had to consider same.
Amala Bose v. Income-tax Officer, Non-Corporate Ward 2(5), Coimbatore
(2015) TaxCorp(LJ) 9300 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=62199&Category=Judgment&CategoryType=Zip
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ITAT - Even though assessee had not completed construction of all blocks of housing project; No denial of sec. 80-IB relief on entire housing project.
Vertex Homes (P.) Ltd. v. Deputy Commissioner of Income-tax, Circle-3 (3), Hyderabad
(2015) TaxCorp(LJ) 9299 (ITAT-HYDERABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=42645&Category=ITAT&CategoryType=Zip
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The AO cannot treat a transaction as bogus only on the basis of suspicion or surmise. He has to bring material on record to support his finding that there has been collusion/connivance between the broker and the assessee for the introduction of its unaccounted money. A transaction of purchase and sale of shares, supported by Contract Notes and demat statements and Account Payee Cheques cannot be treated as bogus
DCIT vs. Sunita Khemka
(2015) TaxCorp(LJ) 9298 (ITAT-KOLKATA)
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Correctness of law laid down by Bombay High Court in Ace Builder 281 ITR 210 that deduction u/s 54EC is available to short-term capital gains computed u/s 50 doubted by Tribunal
ITO vs. Legal Heir of Shri Durgaprasad Agnihotri
(2015) TaxCorp(LJ) 9297 (ITAT-MUMBAI) · Section 54EC
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S. 143(2)/ 292BB: Failure to issue a s. 143(2) notice renders the reassessment order void. S. 292BB saves a case of "non service" of the notice but not a case of "non issue"
Pr. CIT vs. Shri Jai Shiv Shankar Traders Pvt. Ltd
(2015) TaxCorp(LJ) 9296 (HC-DELHI) · Sections 143(2), 292BB
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HC - Revenue couldn’t deny assessee’s TDS claim on a mere technical ground that corresponding income was not that of the assessee.
CIT. vs. Relcom
(2015) TaxCorp(LJ) 9295 (HC-DELHI)
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ITAT - Raising a legal claim, even if it is ultimately found to be legally unacceptable cannot amount to furnishing of inaccurate particulars of income.
Steel Expert Industries (Indore) Limited vs. ACIT
(2015) TaxCorp(LJ) 9294 (ITAT-INDORE) · Section. 271(1)(c)
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ITAT - Additional CIT cannot ipso facto exercise powers or perform functions of an AO.
Mega Corporation vs. ACIT
(2015) TaxCorp(LJ) 9293 (ITAT-DELHI)
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SC - SLP - Dismissed - HC had rejected Revenue’s invocation of 'deemed dividend' provisions u/s 2(22)(e) on the ground that amount advanced by firm to assessee was out of company’s accumulated profits to assessee-shareholder.
CIT. vs. Subrata Roy Sahara
(2015) TaxCorp(LJ) 9292 (SC)
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HC - Expenditure incurred by assessee (an advocate) in connection with treatment of his eyes is not allowable u/s 37
Dhimant Hiralal Thakar vs. CIT
(2015) TaxCorp(LJ) 9286 (HC-BOMBAY) · Section. 37
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ITAT - Assessee (a partner in CA firm) was under bonafide belief that his accounts need not be subjected to tax audit u/s. 44AB. Sec. 271B penalty deleted.
Sankar Datta vs. DCIT
(2015) TaxCorp(LJ) 9285 (ITAT-KOLKATA) · Section. 271B
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HC - Mixed funds diverted towards interest-free advances, average cost of debts to be used to make disallowance u/s 36(1)(iii).
Commissioner of Income-tax-I v. Kudu Industries
(2015) TaxCorp(LJ) 9281 (HC-P&H) · http://taxcorp.in/FileOpenDT.aspx?ID=61611&Category=Judgment&CategoryType=Zip
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ITAT - Additional CIT can perform functions of AO only if specifically directed by CBDT.
Mega Corporation Ltd. v. Additional Commissioner of Income-tax, Range -6, New Delhi
(2015) TaxCorp(LJ) 9280 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=43472&Category=ITAT&CategoryType=Zip
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ITAT - Income received by 'All India Football Federation' from sponsorship and telecasting rights are entitled to sec. 11 relief.
Deputy Director of Income -tax (Exemption), Delhi v. All India Football Federation
(2015) TaxCorp(LJ) 9279 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=43409&Category=ITAT&CategoryType=Zip
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HC - On failure to serve reassessment notice, proviso to section 292BB gets attracted. Can not be cured by deeming fiction of sec. 292BB.
Commissioner of Income-tax (Central)-I v. Chetan Gupta
(2015) TaxCorp(LJ) 9278 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=61870&Category=Judgment&CategoryType=Zip
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ITAT - Difference of opinion between AO and CIT cannot be a basis to invoke jurisdiction under section 263.
Pawan Kumar v. Commissioner of Income-tax, Karnal
(2015) TaxCorp(LJ) 9277 (ITAT-CHANDIGARH) · http://taxcorp.in/FileOpenDT.aspx?ID=43471&Category=ITAT&CategoryType=Zip
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