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HC - Writ Dismissed - Writ challenging technology oriented restructuring of Income Tax Department as administrative exigencies outside judicial review.
Santhosh Kumar vs. UOI and Ors.
(2015) TaxCorp(LJ) 7097 (HC-KERALA)
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SC - Law on impleading Court / Tribunal as 'party' while deciding writs.
Sh. Jogendrasinhji Vijaysinghji vs. State of Gujarat & Others
(2015) TaxCorp(LJ) 7096 (SC)
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ITAT - Once assessee discharges primary onus cast on him to explain unaccounted transaction, having explained with the help of evidence, onus shift to revenue to rebut the same.
DCIT. Vs. Delco India Pvt. Ltd.
(2015) TaxCorp(LJ) 7095 (ITAT-DELHI) · Section 292C
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HC - Surrender of Floor Area Ratio (FAR) relating to land in favour of developer for construction of flats is a transfer u/s 2(47) liable to capital gains tax.
CIT. vs. Dinesh D. Ranka
(2015) TaxCorp(LJ) 7083 (HC-KARNATAKA) · Section. 2(47)
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ITAT - Handing over possession of property by assessee to the IT Dept in terms of Govt. order is not to be deemed as transfer u/s 2(47)(v).
DCIT. Vs. AP State Agro Industries Development Corporation Ltd.
(2015) TaxCorp(LJ) 7082 (ITAT-HYDERABAD) · Section. 53A
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SC - Payments made by ONGC and received by the non-resident assessees or foreign companies under the said contracts is more appropriately assessable under the provisions of Section 44BB and not Section 44D of the Act.
Oil and Natural Gas Corporation Vs. CIT
(2015) TaxCorp(LJ) 7081 (SC) · Sections. 44BB, 44D
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ITAT - There was a reasonable cause in the assessee not mentioning the correct PANs in respect of a few deductees in Form No.26Q. Penalty u/s 272B cannot be imposed.
ITO (TDS), Rohtak vs. The Executive Engineer
(2015) TaxCorp(LJ) 7080 (ITAT-DELHI) · Section. 272B
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ITAT - CIT(A) has rightly adopted the peak credit theory by considering the fact that that there was only rotation of overdraft funds whereby the funds advanced on earlier dates were received back subsequently and there were no fresh deposits.
Smt. Kavita Rangwani vs. Income Tax Officer
(2015) TaxCorp(LJ) 7079 (ITAT-JAIPUR)
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ITAT - Where two views were possible and the AO had taken one view with which the CIT did not agree, it could not be treated as an erroneous order prejudicial to the interests of the Revenue, unless the view taken by the Income Tax Officer was unsustainable in law.
Sanka Venkata Rama Rao vs. Income Tax Officer
(2015) TaxCorp(LJ) 7078 (ITAT-HYDERABAD) · Section. 263
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ITAT - When notice is not issued department cannot take advantage of section 292BB. Assessment is liable to be quashed in absence of issuance of notice u/s 143 (2).
New Okhla Industrial Development Authority Vs. ACIT
(2015) TaxCorp(LJ) 7077 (ITAT-DELHI) · Section. 1432()
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ITAT - Interest income earned on amount in Escrow Account cannot be treated as Income from other sources but under income from business.
ITO. Vs. SAB Miller India Pvt. Ltd.
(2015) TaxCorp(LJ) 7076 (ITAT-DELHI)
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ITAT - Mere cessation of any liability does not create a way for assessing officer to invoke provision of section 41 (1). Whenever, an amount is borrowed towards capital account and the loan is waived off, the same cannot be brought to tax net either in terms of sec-41 (1) or 28(iv) of the Act.
ITO. vs. M/s Tinna Finex Ltd.
(2015) TaxCorp(LJ) 7075 (ITAT-DELHI) · Section. 41(1)
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ITAT - The exchange rate fluctuation arises out of and is directly related to the sale transaction involving the export of goods of the industrial undertaking and, therefore, difference on account of exchange rate fluctuation is entitled to deduction under section 80IB of the Act.
M/s JCBL India Pvt. Ltd. vs. The A.C.I.T., Chandigarh.
(2015) TaxCorp(LJ) 7074 (ITAT-CHANDIGARH) · Section. 80IC
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ITAT - In the case of short deduction no disallowance can be made by invoking the provisions of section 40(a)(ia) of the Act.
M/s. Mission vs. Income-tax Officer
(2015) TaxCorp(LJ) 7073 (ITAT-KOLKATA) · Section. 40(a)
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ITAT - Having religious objects by way of propagating spirituality (i.e. preaching teachings of Vedas and Upanishads, Quran and Bible and other scriptures) in addition to charitable objects does not violate the provision of section 11(1)(a). Entitled to Sec 12A registration.
Shiva Shakthi Shiridi Sai Anugraha Mahapeetam vs. DDIT
(2015) TaxCorp(LJ) 7072 (ITAT-HYDERABAD) · Section. 12A
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ITAT - SCN u/s 251 is required even where CIT(A) merely changed the heads of income, but which resulted in enhancement of assessee’s income.
Abhilash Software & Development Centre vs. ITO
(2015) TaxCorp(LJ) 7071 (ITAT-BANGALORE) · Section. 251
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ITAT - Payment of demurrage by assessee (exporting iron-ore) to foreign buyer is not subject to TDS u/s 195.
ITO. vs. Karishma Goa Mineral Trading Pvt. Ltd.
(2015) TaxCorp(LJ) 7070 (ITAT-PANAJI) · Section. 195
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ITAT - Stay granted to Vodafone for non - deduction of TDS u/s 194H in respect of over 27 crores demand.
Vodafone Cellular Ltd. vs. ADIT
(2015) TaxCorp(LJ) 7069 (ITAT-PUNE) · Section. 194H
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ITAT - Investment by assessee-builder in a joint-venture-AOP is not within the scope of Sec 14A disallowance while calculating average value of investment.
Ashish Estate & properties vs. DCIT
(2015) TaxCorp(LJ) 7068 (ITAT-MUMBAI) · Section. 14A
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ITAT - Reassessment based on revised Tax Audit Report, not available at the time of original assessment is valid.
ACC Limited vs. ACIT
(2015) TaxCorp(LJ) 7067 (ITAT-MUMBAI)
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