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ITAT - Interest u/s 234B/234C is consequential and mandatory. No discretion to AO.
Syndicate Rythara Sahakara Bank Ltd. v. Income-tax Officer
(2015) TaxCorp(LJ) 9085 (ITAT-BANGALORE) · http://taxcorp.in/FileOpenDT.aspx?ID=41682&Category=ITAT&CategoryType=Zip
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ITAT - Only those companies having related party transactions of less than 15 per cent of revenue alone could be considered as valid comparables while determining ALP.
Income-tax Officer, Ward 12(2) Bangalore v. Sunquest Information Systems (India) (P.) Ltd.
(2015) TaxCorp(LJ) 9073 (ITAT-BANGALORE) · http://taxcorp.in/FileOpenDT.aspx?ID=41332&Category=ITAT&CategoryType=Zip
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HC - Cost of abandoned film is Revenue Expenditure.
CIT. vs. Venus Records and Tapes P Ltd.
(2015) TaxCorp(LJ) 9072 (HC-BOMBAY)
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S. 14A/ Rule 8D cannot be automatically invoked. It cannot be invoked if the AO does not record satisfaction as to why the assessee’s voluntary disallowance is not proper
CIT. vs. I. P. Support Services India (P) Ltd.
(2015) TaxCorp(LJ) 9071 (HC-DELHI) · Section. 14A
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HC - Review applications filed by the Revenue against High Court's order are maintainable.
CIT. vs. All Saints College Society Nainital
(2015) TaxCorp(LJ) 9070 (HC-UTTARAKHAND)
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HC - Invocation of 14A is not automatic and does not come into operation as soon as the dividend income is claimed exempt.
CIT. vs. LP support services India(P) Ltd.
(2015) TaxCorp(LJ) 9069 (HC-DELHI)
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HC - Estimation of income should be based on income of that preceding year which is closer to relevant year
S.L. Basavaraj (HUF) v. Assistant Commissioner of Income-tax, Circle-1, Shimoga
(2015) TaxCorp(LJ) 9068 (HC-KARNATAKA) · http://taxcorp.in/FileOpenDT.aspx?ID=62018&Category=Judgment&CategoryType=Zip
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HC - No addition of cash withdrawals from bank when credit receipts in bank already taxed
Commissioner of Income-tax – 21 v. Jalaj Batra
(2015) TaxCorp(LJ) 9066 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=58737&Category=Judgment&CategoryType=Zip
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ITAT - Construction expenses of railway under-bridge for creating access to projects of assessee are revenue in nature.
Greater Ludhiana Area Development Authority v. Additional Commissioner of Income-tax
(2015) TaxCorp(LJ) 9065 (ITAT-CHANDIGARH) · http://taxcorp.in/FileOpenDT.aspx?ID=43064&Category=ITAT&CategoryType=Zip
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ITAT - Assessee-trust established by a deed of trust for charitable and religious purposes is entitled to sec. 12AA registration
Gilgal Mission India v. Income-tax Officer
(2015) TaxCorp(LJ) 9064 (ITAT-CHENNAI) · http://taxcorp.in/FileOpenDT.aspx?ID=42113&Category=ITAT&CategoryType=Zip
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ITAT - Not acceptable that assessee did not spend a single penny for household expenses, addition of one lakh on account of household expenses rightly made.
Radhey Shyam Agarwal v. Income-tax Officer
(2015) TaxCorp(LJ) 9063 (ITAT-JAIPUR) · http://taxcorp.in/FileOpenDT.aspx?ID=42720&Category=ITAT&CategoryType=Zip
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ITAT - Assessee engaged in providing contract research services in the field of molecular biology and synthetic chemistry to non-resident customers is eligible for exemption u/s 10B.
DCIT. vs. Syngene International Limited
(2015) TaxCorp(LJ) 9055 (ITAT-BANGALORE) · Section. 10B
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HC - Even in cases where the agreement was oral, the transactions with lorry owners/transporters fall within the ambit of Sec 194C.
CIT. vs. Maruti Subray Patil
(2015) TaxCorp(LJ) 9054 (HC-KARNATAKA)
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SC - Govt. will abide by the CBDT circular dated September 2 & subsequent Press Release dated September 24 on MAT.
Castleton Investment Ltd vs. DIR of IT International Taxation
(2015) TaxCorp(LJ) 9053 (SC)
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ITAT - Amount received by US company for providing access to internet and other networking facilities to an Indian company is taxable as “Royalty” under Article 12(3) of India-US DTAA.
Cincom System Inc. vs. DDIT
(2015) TaxCorp(LJ) 9052 (ITAT-DELHI)
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ITAT - Distinction between finance lease and operating lease is not recognized under the IT Act. AS-19 on accounting for “Leases” issued by ICAI was only applicable for accounting the lease transaction in the books of account, and was not determinative of liability towards income tax.
Minda Corporation Limited vs. DCIT
(2015) TaxCorp(LJ) 9051 (ITAT-DELHI) · Section. 37
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HC - Not correct to hold that since all the evidences were fresh and not produced during assessment, they were inadmissible in view of Rule 46A of Income-tax Rules 1962, hence the matter should have been remanded back for AO's consideration.
CIT. vs. E D Benny
(2015) TaxCorp(LJ) 9030 (HC-KERALA)
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HC - Sec 4 & 5 of Income tax Act are subject to Sec 90 and by necessary implication they are subject to the terms of the double taxation avoidance agreement.
Wipro Limited vs. DCIT
(2015) TaxCorp(LJ) 9029 (HC-KARNATAKA) · Sections. 4, 5
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SC - UPSC to reconsider CIT’s promotion claim to the post of CCIT. promotion can’t be denied on the basis of un-communicated ACRs.
Prabhu Dayal Khandelwal vs. Chairman, U.P.S.C. & Ors.
(2015) TaxCorp(LJ) 9028 (SC)
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ITAT - Every case of confirmation of disallowance cannot be regarded as a case of furnishing of inaccurate particulars of income or concealment of income.
Sumatikumar B. Kothari vs. ACIT
(2015) TaxCorp(LJ) 9027 (ITAT-MUMBAI) · Section. 271(1)(c)
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