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HC - ITAT’s order referring issue to ITAT President for constitution of larger bench set aside as reference was made ignoring judgments & without specific 'reasons'.
Mumbai Metropolitan Region Development Authority Vs. DIT
(2015) TaxCorp(LJ) 8882 (HC-BOMBAY)
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ITAT - Allows deduction of the refunded excess salary received in earlier years for calculation of salary 'due' for AY 2008-09.
Vrajeshwari B Parikh vs. ITO
(2015) TaxCorp(LJ) 8881 (ITAT-AHMEDABAD)
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HC - Compensation received from prospective employer for non- commencement of employment, a capital receipt and not taxable
CIT vs. Pritam Das Narang
(2015) TaxCorp(LJ) 8880 (HC-DELHI)
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SC - SLP Dismissed - HC had quashed sec 271(1)(c) penalty as assessee’s wrong deduction claim was based on legal advice rendered by professionally qualified persons.
CIT vs. Rave Entertainment Pvt Ltd
(2015) TaxCorp(LJ) 8879 (SC) · Section 271(1)(c)
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ITAT - Concept of “pure” life policy finds no mention in Sec 10(10D).
F.C. Sondhi & Company (India) Pvt. Ltd. vs. DCIT
(2015) TaxCorp(LJ) 8878 (ITAT-AMRITSAR) · Section 10(10D)
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ITAT - Presumption u/s 132(4A) is not applicable as neither was the loose paper found in the premises of assessee nor was it in assessee’s possession. Addition deleted.
Ketan V. Shah vs. ACIT
(2015) TaxCorp(LJ) 8877 (ITAT-MUMBAI)
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ITAT - Execution of formal trust deed not necessary for the purpose of granting registration u/s 12AA.
Tsurphu Labrang vs DIT
(2015) TaxCorp(LJ) 8876 (ITAT-DELHI) · Section 12AA
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ITAT - A company showing exceptional financial result due to merger/de-merger could not be accepted as a comparable.
Digital Juice Animations (P.) Ltd. v. Deputy Commissioner of Income-tax, Circle-11 (1), Bangalore
(2015) TaxCorp(LJ) 8865 (ITAT-BANGALORE) · http://taxcorp.in/FileOpenINTL.aspx?ID=8350&Category=INTLDecisions&CategoryType=Zip
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HC - More than three months taken by AO to record satisfaction pursuant to search could not be regarded as unreasonable as AO had to take action against 70 persons
Commissioner of Income-tax-I,Ludhiana v. Mridula
(2015) TaxCorp(LJ) 8864 (HC-P&H) · http://taxcorp.in/FileOpenDT.aspx?ID=60908&Category=Judgment&CategoryType=Zip
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ITAT - Since FTS has not been claimed by assessee as revenue expenditure, same would not fall for consideration in section 40(a)(i). No disallowance of 'FTS'.
Gera Developments (P.) Ltd. v. Joint Commissioner of Income-tax
(2015) TaxCorp(LJ) 8863 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=39340&Category=ITAT&CategoryType=Zip
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ITAT - Merely because society had received deposits from non-members and violated provisions of APMACS Act, no denial of sec. 80P benefit.
Assistant Commissioner of Income-tax v. Rangareddy District Judicial Employees Mutually Aided Co-Operative Credit Society Ltd.
(2015) TaxCorp(LJ) 8862 (ITAT-HYDERABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=40730&Category=ITAT&CategoryType=Zip
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ITAT - Since assessee offered additional income and paid taxes thereon before any detection of concealment by revenue authorities, AO could not pass penalty order under section 271(1)(c).
Harpreet Singh v. Income-tax Officer, Ward-2 (3), Chandigarh
(2015) TaxCorp(LJ) 8860 (ITAT-CHANDIGARH) · http://taxcorp.in/FileOpenDT.aspx?ID=42779&Category=ITAT&CategoryType=Zip
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ITAT - Since trucks were hired by assessee from open market and freight was paid to said truck owners at a lesser rate resulting in profits, assessee, will be regarded as a contractor and not as commission agent, was required to deduct TDS u/s 194C while making payments to truck owners/sub-contractors.
Northern Trailor Service v. Income-tax Officer, 1 (2), Ludhiana
(2015) TaxCorp(LJ) 8859 (ITAT-CHANDIGARH) · http://taxcorp.in/FileOpenDT.aspx?ID=42778&Category=ITAT&CategoryType=Zip
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ITAT - Payment of roaming charges by telephone operator does not fall under the ambit of TDS provisions as roaming facility does not require human intervention and are not ‘FTS’.
Vodafone East Ltd. v. Additional Commissioner of Income-tax, Range-7, Kolkata
(2015) TaxCorp(LJ) 8858 (ITAT-KOLKATA) · http://taxcorp.in/FileOpenDT.aspx?ID=42777&Category=ITAT&CategoryType=Zip
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HC - Section 68 applicable even if assessee was taxable on presumptive basis and where he fails to explain source of deposits.
Commissioner of Income-tax v. Chander Prakash Pabreja
(2015) TaxCorp(LJ) 8857 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=59326&Category=Judgment&CategoryType=Zip
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ITAT - TP adjustment deleted as margin of AE segment came within +/- 5 per cent range when compared to arithmetic mean/PLI, computed by TPO.
Msource (India) (P.) Ltd. v. Deputy Commissioner of Income-tax, Circle 12 (1), Bangalore
(2015) TaxCorp(LJ) 8856 (ITAT-BANGALORE) · http://taxcorp.in/FileOpenINTL.aspx?ID=8132&Category=INTLDecisions&CategoryType=Zip
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ITAT - Where no adverse comments were made on purchases in sales tax assessment and no defect or deficiency was found by AO in assessee's books of account, no addition of unexplained purchases.
Assistant Commissioner of Income-tax v. Inlay Marketing (P.) Ltd.
(2015) TaxCorp(LJ) 8855 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=38837&Category=ITAT&CategoryType=Zip
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HC - Circumstances in which gains from sale of shares can be assessed as short-term capital gains and not as business profits explained
CIT vs. Datta Mahendra Shah
(2015) TaxCorp(LJ) 8837 (HC-BOMBAY)
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SC - Mere possession and recovery of currency notes from an accused is not sufficient to establish an offense under the Prevention of Corruption Act. Proof of demand of illegal gratification is essential. Its absence is fatal to the complaint
P. Satyanarayana Murthy vs. Dist. Inspector of Police
(2015) TaxCorp(LJ) 8836 (SC)
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SC - The "functional" test has to be applied to determine whether an asset is "plant". Even a pond designed for rearing prawns can be "plant"
ACIT vs. Victory Aqua Farm Ltd
(2015) TaxCorp(LJ) 8835 (SC) · Section 32
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