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ITAT - India-Singapore DTAA - Activities related to construction or installation are specifically covered under Article 5(3) and not under Article 5(6).
Kreuz Subsea Pte. Ltd. v. Deputy Director of Income-tax (International Taxation) 3 (1), Mumbai
(2015) TaxCorp(LJ) 6958 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenINTL.aspx?ID=8272&Category=INTLDecisions&CategoryType=Zip
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HC - Advance received by contractor cannot be taxed on receipt basis.
Rudraksh Builders v. Assistant Commissioner of Income-tax
(2015) TaxCorp(LJ) 6957 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=59068&Category=Judgment&CategoryType=Zip
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ITAT - Offshore designs/drawings were used by the Indian customers for setting up their plants and not for any commercial exploitation; income not "royalty" and taxable as ‘business income’ in the hands of German co. (‘assessee’).
Outotec GmbH Vs Deputy Director of Income Tax, (International Taxation)-2(1)
(2015) TaxCorp(LJ) 6956 (ITAT-KOLKATA)
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ITAT - Deduction of foreclosure or prepayment charges also falls under the purview of section 2(28A) read with section 24(b) and are eligible for deduction u/s 24(b).
Subha Singhvi Vs. ACIT, Circle 32(1), New Delhi
(2015) TaxCorp(LJ) 6955 (ITAT-DELHI) · Section. 24(b)
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ITAT - “Goodwill” is an asset under Explanation 3(b) to section 32 (1) and depreciation on Goodwill is allowed.
M/s. Sujag Fine Chemicals Pvt. Ltd. vs ITO
(2015) TaxCorp(LJ) 6954 (ITAT-AHMEDABAD)
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ITAT - Assessee can appeal against wrong appeal effect order passed by the Assessing Officer.
Appeal can be filed against wrong appeal effect given by Assessing Officer
(2015) TaxCorp(LJ) 6953 (ITAT-CHANDIGARH)
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ITAT - While calculating relief u/s 10(23C)(iiiad) receipts from more than one educational institutions cannot be clubbed
Income Tax Officer. Vs. M/s Chironji Lal Virendrapal Saraswati Shiksha Parishad
(2015) TaxCorp(LJ) 6952 (ITAT-LUCKNOW) · Section. 10(23C)(iiiad)
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ITAT - The issue of valid jurisdiction is a condition precedent to the validity of any assessment under Section 147. Since the ITO who issued notice u/s 148 initially, had no valid jurisdiction over the assessee, reassessment quashed.
Mukesh Kumar Vs. ITO Ward 26(3), New Delhi
(2015) TaxCorp(LJ) 6951 (ITAT-DELHI) · Section. 148
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ITAT - Where a comparable company is operating in a different business model than that of assessee, it should be excluded from comparable list.
Maximize Learning (P.) Ltd. v. Assistant Commissioner of Income-tax, Circle 11 (2), Pune
(2015) TaxCorp(LJ) 6950 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=41343&Category=ITAT&CategoryType=Zip
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HC - Since all conditions laid down in rule 2BA were fulfilled, SBI employee would be entitled to exemption under section 10(10C) on ex gratia payment.
Commissioner of Income-tax v. Appasaheb Baburao Kamble
(2015) TaxCorp(LJ) 6949 (HC-KARNATAKA) · http://taxcorp.in/FileOpenDT.aspx?ID=59278&Category=Judgment&CategoryType=Zip
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HC - Failure to obtain proper sanction of Commissioner or Chief Commissioner for reassessment notice is not curable by resorting to sec. 292BB.
Dhadda Exports v. Income-tax officer, Ward-1 (1), Jaipur
(2015) TaxCorp(LJ) 6948 (HC-RAJASTHAN) · http://taxcorp.in/FileOpenDT.aspx?ID=60819&Category=Judgment&CategoryType=Zip
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HC - Since assessee had simply filed a petition before court for short-payments of processing charges, but did not obtain any right to receive payments, no addition can be made.
Commissioner of Income-tax v. Sivalik Cellulose Ltd.
(2015) TaxCorp(LJ) 6947 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=60452&Category=Judgment&CategoryType=Zip
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ITAT - When in case of other co-owners agricultural land was not regarded as capital asset being situated 8 Kms. away from local municipal limits, no capital gain arose on sale of land by the assessee.
Sita Ram Sharma v. Income-tax Officer, Ward- 7 (2), Jaipur
(2015) TaxCorp(LJ) 6946 (ITAT-JAIPUR) · http://taxcorp.in/FileOpenDT.aspx?ID=41342&Category=ITAT&CategoryType=Zip
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ITAT - It is a mistake apparent on record, if Tribunal has omitted to consider a ground of appeal taken before it or if it has failed to pass such order or to issue such directions which were necessary for proper adjudication of subject-matter of appeal, even if assessee/or revenue has not requested for such a direction by filing cross-appeal or cross-objections.
Bharath Biotech International Ltd. v. Deputy Commissioner of Income-tax
(2015) TaxCorp(LJ) 6945 (ITAT-HYDERABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=38073&Category=ITAT&CategoryType=Zip
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HC - Since criteria of minimum area of 1 acre required under section 80-IB(10)(a) had been met (commercial space in housing project), sec. 80-IB relief available to assessee.
Commissioner of Income-tax-III, Thane v. Suresh L. Wadhwa (HUF)
(2015) TaxCorp(LJ) 6943 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=60977&Category=Judgment&CategoryType=Zip
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ITAT - Depositing unutilized gains in 'capital gain account deposit' scheme within the extended due date u/s 139(4) is also eligible for Sec 54F exemption
Padmanabh Pandurang Pawar vs ITO
(2015) TaxCorp(LJ) 6942 (ITAT-MUMBAI) · Section. 54F
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ITAT - A functionally comparable company could not have been excluded simply because of high turnover only.
Agnity India Technologies (P.) Ltd. v. Income-tax Officer, Ward -1 (3), New Delhi
(2015) TaxCorp(LJ) 6941 (ITAT-DELHI) · http://taxcorp.in/FileOpenINTL.aspx?ID=8161&Category=INTLDecisions&CategoryType=Zip
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ITAT - The concept of indexation while computing the Long term capital gain cannot be imported to the computation of book profit u/s. 115JB.
Dharmayug Investments Ltd. vs. ACIT
(2015) TaxCorp(LJ) 6940 (ITAT-MUMBAI)
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ITAT - For the purpose of claiming exemption under section 10(23C)(iiiad), aggregate annual receipts from more than one educational institutions should not be considered but only individual annual receipts should be considered.
Income Tax Officer. Vs. M/s Chironji Lal Virendrapal Saraswati Shiksha Parishad
(2015) TaxCorp(LJ) 6939 (ITAT-LUCKNOW) · Section. 10(23C)(iiiad)
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ITAT - Income mistakenly offered in return of income when assessed amounts to incorrect assessment of taxes. The assessee cannot be burdened with the taxes which he otherwise is not liable to pay under the law. Even a duty has also been cast upon the Income Tax Authorities to charge the legitimate tax from the tax payers. They are not there to punish the tax payers for their bonafide mistakes.
Shri Chandrashekhar Bahirwani vs. ACIT
(2015) TaxCorp(LJ) 6938 (ITAT-MUMBAI)
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