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ITAT - Activities carried out by assessee (providing consultancy workshop training program, conducting research on behalf of NGOs related to WHO/UNO) would come under terms 'charitable purpose' in terms of section 2(15) entitled for exemption.
Praxis Institute of Participatory Practices v. Director of Income-tax (Exemption), Laxmi Nagar, New Delhi
(2015) TaxCorp(LJ) 6775 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=39969&Category=ITAT&CategoryType=Zip
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ITAT - No transfer u/s 2(47)(v) when possession of asset was ever delivered by assessee to purchaser in part performance of agreement for sale.
Abdul Wahab v. Deputy Commissioner of Income-tax, Central Circle 1(3), Bangalore
(2015) TaxCorp(LJ) 6774 (ITAT-BANGALORE) · http://taxcorp.in/FileOpenDT.aspx?ID=40826&Category=ITAT&CategoryType=Zip
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HC - No transfer of property takes place u/s 2(47)(vi) on mere execution of power of attorney without any consideration.
Commissioner of Income-tax, Chennai v. C. Sugumaran
(2015) TaxCorp(LJ) 6773 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=58534&Category=Judgment&CategoryType=Zip
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HC - In case of sale of asset acquired after partition of HUF, date of acquisition of property by HUF being prior to 1-4-1981 would entitle assessee to calculate capital gains tax by taking cost inflation index for financial year 1981-82.
Deputy Commissioner of Income-tax, Circle - I, Bathinda v. Sushil Kumar
(2015) TaxCorp(LJ) 6772 (HC-P&H) · http://taxcorp.in/FileOpenDT.aspx?ID=61211&Category=Judgment&CategoryType=Zip
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HC - No reassessment to disallow excess expenditure (labor charges) on basis of material obtained during subsequent assessment year, as the details were made available during assessment and re-opening of assessment would amount to mere change of opinion.
Commissioner of Income-tax-15 v. Srusti Diam
(2015) TaxCorp(LJ) 6771 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=60644&Category=Judgment&CategoryType=Zip
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HC - Since 'reason to believe' recorded by AO did not refer to any material that came to his knowledge whereby it could be inferred that he could have formed a reasonable belief, no reassessment on basis of info of DDIT (Investigation) that cash seized from director belonged to him.
Krown Agro Foods (P.) Ltd. v. Assistant Commissioner of Income-tax, Circle 5(1), New Delhi
(2015) TaxCorp(LJ) 6770 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=60741&Category=Judgment&CategoryType=Zip
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ITAT - No TDS u/s 194C on payments made to NR shipping Companies or its agents
Income Tax Officer, Ward-1(2), Ahmedabad v. Anchor Cagrolines (P.) Ltd.
(2015) TaxCorp(LJ) 6769 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=40825&Category=ITAT&CategoryType=Zip
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ITAT - No section 80P relief on interest earned by co-operative society on idle funds kept with bank.
State Bank of India Employees Co-Op. Credit & Supply Society Ltd. v. Commissioner of Income-tax, Ahmedabad-1
(2015) TaxCorp(LJ) 6768 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=40197&Category=ITAT&CategoryType=Zip
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HC - Initiation of block assessment even when information (assessee shown purchase of gift articles not only in its books of account but also in returns and on verification of relevant records) unearthed in search was reflected in return is not correct.
Commissioner of Income-tax- 3, Hyderabad v. Sunny Liquors (P.) Ltd.
(2015) TaxCorp(LJ) 6767 (HC-AP) · http://taxcorp.in/FileOpenDT.aspx?ID=59031&Category=Judgment&CategoryType=Zip
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ITAT - Where two comparables selected by TPO were improper on account of their huge turnover, brand value whereas another comparable selected by TPO was found inappropriate as it was developing its own software products, addition to assessee's ALP is not correct.
Ciena India (P.) Ltd. v. Deputy Commissioner of Income-tax, Circle-3 (1), New Delhi
(2015) TaxCorp(LJ) 6766 (ITAT-DELHI) · http://taxcorp.in/FileOpenINTL.aspx?ID=8087&Category=INTLDecisions&CategoryType=Zip
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HC - Loss on writing off slow moving items (on basis of deterioration of various materials including raw-materials) in P&L account is allowable
Commissioner of Income-tax-1, Mumbai v. Indian Rare Earths Ltd.
(2015) TaxCorp(LJ) 6765 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=60946&Category=Judgment&CategoryType=Zip
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HC - Even if, initially it was not a return of loss and was a return of income, there is no way out to help the assessee from the net of section 80. Thus, loss assessed could not be carried forward when ROI was filed belatedly.
Peerless General Finance & Investment Co. Ltd. v. Commissioner of Income-tax, Kolkata-I
(2015) TaxCorp(LJ) 6764 (HC-CALCUTTA) · http://taxcorp.in/FileOpenDT.aspx?ID=61209&Category=Judgment&CategoryType=Zip
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HC - Even though payment made by assessee (an Indian co.) to a German co. for carrying out overhaul repairs to aircrafts, amounts to technical services (‘FTS’) u/s 9(1)(vii) yet the same is not taxable in India, owing to exclusionary clause (b) thereto.
DIT vs Lufthansa Cargo India
(2015) TaxCorp(LJ) 6763 (HC-DELHI)
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HC - Discount allowed by assessee to its distributors for sale of startup packs and prepaid recharge coupons amounts to 'commission' and is liable to TDS u/s 194H as agreement terms show principal-agent relationship.
Hutchison vs CIT
(2015) TaxCorp(LJ) 6762 (HC-CALCUTTA)
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ITAT - An Indian company is not liable to deduct TDS u/s 195 on purchases made from its foreign AE (including its branch), as per the application of 'non-discrimination' clause under Article 24 of India-Japan DTAA.
Mitsubishi Corporation India Private Limited vs. DCIT
(2015) TaxCorp(LJ) 6751 (ITAT-DELHI) · Section 40(a)
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ITAT - Section 11 relief to hospital cannot be denied merely because it did not provide concessional treatment to indigent/poor patients
Income-tax Officer, Ward -3, Ahmednagar v. Noble Medical Foundation & Research Centre
(2015) TaxCorp(LJ) 6750 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=40423&Category=ITAT&CategoryType=Zip
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HC - Waiver of loan in one time settlement was not taxable as revenue receipts as loan was raised to purchase capital asset
Commissioner of Income-tax-8 v. Santogen Silk Mills Ltd.
(2015) TaxCorp(LJ) 6749 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=60791&Category=Judgment&CategoryType=Zip
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ITAT - On dissolution of firm, cost of acquisition of land to partner would be deemed as its book value on date of transfer
Bimco Electrical Products (P.) Ltd. v. Assistant Commissioner of Income-tax, Circle-1 (3), Hyderabad
(2015) TaxCorp(LJ) 6747 (ITAT-HYDERABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=38851&Category=ITAT&CategoryType=Zip
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ITAT - Laments non-representation/ inept-representation of matters before it by the Revenue. Suggests guidelines to remedy the state of affairs
DCIT vs. Reliance Communications Infrastructure Ltd
(2015) TaxCorp(LJ) 6746 (ITAT-MUMBAI)
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ITAT - S. 40(a)(ia) second proviso was inserted by FA 2012 to rectify the unintended consequence of disallowance in the hands of the payer even if the payee has paid tax. It is curative and retrospective in operation. Assessee's claim of having obtained declarations u/s 197A from the payees should not be disbelieved without evidence. Assessee is not expected to go into the correctness of the declarations filed by the payees
Ballabh Das Agarwal vs. ITO
(2015) TaxCorp(LJ) 6745 (ITAT-KOLKATA) · Section 40(a)(ia)
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