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S. 68: If the assessee has furnished the details of the creditors with their PAN, the onus is on the AO to examine their credit-worthiness and source of payment to assessee
KLR Industries Ltd vs. DCIT
(2015) TaxCorp(LJ) 7276 (ITAT-HYDERABAD) · Section 68
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S. 132(4A) presumption does not apply to loose papers found in some other person's possession. While the AO can make a protective assessment, the appellate authority cannot confirm a protective order. It has to either make it substantive or quash it
Ketan V. Shah vs. ACIT (ITAT Mumbai)
(2015) TaxCorp(LJ) 7275 (ITAT-MUMBAI) · Section 132(4A)
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S. 282: Law on validity of service of notices by "Speed Post" instead of "Registered Post A/D" explained
Color Craft vs. ITO
(2015) TaxCorp(LJ) 7274 (ITAT-MUMBAI) · Section 282
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Disallowance u/s 40A(2) of Commission paid to relatives cannot be made without proper enquiry
ACIT. Vs. Sh. Saurabh Batra
(2015) TaxCorp(LJ) 7260 (ITAT-DELHI) · Section. 40A(2)
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Validity of Reassessment based on Audit Report/Balance Sheet Submitted during Original Assessment
ACIT. Vs. Super Cassettes Industries Ltd.
(2015) TaxCorp(LJ) 7259 (ITAT-DELHI)
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Amendment extending limitation period u/s 201 can't revive earlier 'time barred' proceedings
Oracle India Pvt. Ltd. vs. Dy. CIT
(2015) TaxCorp(LJ) 7250 (HC-DELHI) · Section. 201
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Supply of equipment and design and drawings by foreign company in India from outside India is not taxable in India
Outotec GMbd vs. Deputy Director of Income Tax
(2015) TaxCorp(LJ) 7247 (ITAT-KOLKATA)
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Reliance on statements of third party without giving the assessee the right of cross-examination results in breach of principles of natural justice
R. W. Promotions P. Ltd vs. ACIT
(2015) TaxCorp(LJ) 7246 (HC-BOMBAY)
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Transfer Pricing: Important principles on benchmarking transactions of advances/ credit period tp AEs reiterated
Tecnimont ICB House vs. DCIT
(2015) TaxCorp(LJ) 7245 (ITAT-MUMBAI)
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Entire law on taxability of "fees for technical services" under the "make available" clause of the DTAA explained
ITO vs. Nokia India Pvt. Ltd
(2015) TaxCorp(LJ) 7244 (ITAT-DELHI)
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Transfer Pricing: For the purpose of benchmarking the international transactions, the effect of underutilization of capacity/excess fixed costs has to be eliminated while computing the operating margins of the assessee
HCL Technologies BPO Services Ltd vs. ACIT
(2015) TaxCorp(LJ) 7243 (ITAT-DELHI)
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S. 234E: Prior to the amendment to s. 200A w.e.f. 01.06.2015, the fee for default in filing TDS statements cannot be recovered from the assessee-deductor while processing the s. 200A statement. However, the AO is entitled to pass a separate order u/s 234E to levy the fee within the limitation period
G. Indhirani vs. DCIT
(2015) TaxCorp(LJ) 7242 (ITAT-CHENNAI) · Section 234E
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S. 55A: If the AO is not satisfied with the valuation made by the assessee's valuer, he must refer the issue to the DVO. He cannot reject the assessee's valuation without any basis
Barjinder Singh Bhatti vs. ITO
(2015) TaxCorp(LJ) 7241 (ITAT-CHANDIGARH) · Section 55A
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S. 40(a)(ia): The obligation to deduct TDS is only with respect to "income". As amounts paid as "reimbursement of expenses" do not have the character of income, there is no obligation to deduct TDS
CIT vs. DLF Commercial Project Corp
(2015) TaxCorp(LJ) 7240 (HC-DELHI) · Section 40(a)(ia)
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Additional Evidence under Rule 46A must be allowed for reasonable cause
M/s. ONS Creations Private Limited Vs. ITO
(2015) TaxCorp(LJ) 7218 (ITAT-DELHI)
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Section 153C not applicable in absence of satisfaction recorded in the case of person searched that document belongs to the Assessee
Ms. Meena Rani Vs. ACIT
(2015) TaxCorp(LJ) 7217 (ITAT-DELHI) · Section 153C
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Letting out Commercial Property on composite rent is taxable as Business Income
M/s. Dutta Properties Vs. I.T.O
(2015) TaxCorp(LJ) 7216 (ITAT-KOLKATA)
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S. 263 CIT cannot set aside Assessment order passed after proper examination, inquiry & verification
Maya Gupta vs. CIT
(2015) TaxCorp(LJ) 7209 (ITAT-DELHI) · Section. 263
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Supervising & Liasioning in relation to loading goods cannot be classified as C & F Agents services
M/s. Coal Handlers Private Ltd. vs. CCE
(2015) TaxCorp(LJ) 7208 (SC)
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ITAT - Amount received by assessee (an individual) under the family settlement cannot be assessed under the head “capital gains”.
Urmila Mahesh Nathani vs. ITO
(2015) TaxCorp(LJ) 7207 (ITAT-MUMBAI)
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