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HC - Reimbursement from agents received by Maersk (a Danish shipping co.) from its Indian agents for Maersk Net Communication system is not FTS but shipping profits, not taxable in India
DIT. Vs. A.P. Moller Maersk
(2015) TaxCorp(LJ) 6463 (HC-BOMBAY)
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HC - Advertisement-revenue earned by assessee (a Mauritian based company) through its Indian agents (including one of its Indian Group entity) is not taxable in India
DIT. Vs. B4U International Holdings Limited
(2015) TaxCorp(LJ) 6462 (HC-BOMBAY)
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ITAT - Inter-unit charges by assessee having two eligible EOUs will not form part of "Total Turnover" for the purpose of computing deduction u/s.10B.
K. Mohan & Company (Exports) Pvt. Ltd. vs. ACIT
(2015) TaxCorp(LJ) 6461 (ITAT-BANGALORE) · Section. 10B
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ITAT - Disallowance of unutilized MODVAT/CENVAT Credit - The purchases which have been debited in the P & L account alongwith MODVAT account and appearing in the closing stock are also with MODVAT account. Thus, no adjustment u/s. 145 was required to be made.
Income-Tax Officer Versus M/s Murli Fabrics
(2015) TaxCorp(LJ) 6460 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=40381&Category=ITAT&CategoryType=Zip
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ITAT - Before rejecting the books of account AO should not only give adequate opportunity to assessee to explain the entries made therein, but also point out any specific defect or deficiency in the books of account.
M/s BP Ferrium Industries Pvt Ltd (Formerly Known AS M/s Godavari Exports And Imports Pvt Ltd) Versus Asstt Commissioner Of Income-Tax & Others
(2015) TaxCorp(LJ) 6459 (ITAT-HYDERABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=40505&Category=ITAT&CategoryType=Zip
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ITAT - Since the department itself has accepted assessee’s claim for writing off of preliminary expenses in the immediately preceding assessment year, disallowance of similar claim in subsequent year will not make it a fit case for levy of concealment penalty
Lexicon Finance Ltd Versus Joint Commissioner Of Income Tax
(2015) TaxCorp(LJ) 6458 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=40379&Category=ITAT&CategoryType=Zip
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ITAT - Income earned by the assessee from rendering legal consultancy is carried out by the assessee is a purely commercial activity, howsoever altruistic be the motive, and it cannot be treated as an educational or charitable activity.
Kali Center For Legal Reforms And Research Centre Versus Income-Tax Officer
(2015) TaxCorp(LJ) 6456 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=40383&Category=ITAT&CategoryType=Zip
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HC - Section 144 does not at all apply to the present proceedings because the present proceedings originate from an assessment under Section 143(3) of the Act.
M/s. Shivnandan Buildcon Pvt. Ltd., M/s. Omshiv Buildtech Pvt. Ltd. Versus The Commissioner of Income Tax & Another
(2015) TaxCorp(LJ) 6455 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=61054&Category=Judgment&CategoryType=Zip
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ITAT - Additional evidence by assessee to prove that its liaison office in India was not its PE was required to be admitted .
Sagem Defence Securite Sa India Liaison Office, BMR & Associates v. Deputy Director of Income-tax (International Taxation), Circle-2(2), New Delhi
(2015) TaxCorp(LJ) 6454 (ITAT-DELHI) · http://taxcorp.in/FileOpenINTL.aspx?ID=3724&Category=INTLDecisions&CategoryType=Zip
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ITAT - It is required from CIT(A) to discuss appropriate method and comparable instances to determine ALP in order decide TP issue.
Assistant Commissioner of Income-tax, Vapi Circle, Vapi v. Universal Comfort Products (P.) Ltd.
(2015) TaxCorp(LJ) 6453 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=40229&Category=ITAT&CategoryType=Zip
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HC - For sec. 32A allowance, date of original purchase contract is relevant and not date of revised one,
Shaily Eng. Plastics (P.) Ltd. v. Deputy Commissioner of Income-tax (Asst.)
(2015) TaxCorp(LJ) 6452 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=61055&Category=Judgment&CategoryType=Zip
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HC - No s. 14A and Rule 8D disallowance can be made for shares held as stock-in-trade
CIT vs. India Advantage Securities Ltd
(2015) TaxCorp(LJ) 6451 (HC-BOMBAY) · Section 14A
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HC - Filing of Form No.15I/J is only directory and not mandatory. Also, only if there is any breach of requirements of Section 194C(3), the question of applicability of Section 40(a)(ia) arises.
CIT. vs. Marikamba Transport Company
(2015) TaxCorp(LJ) 6450 (HC-KARNATAKA) · Sections. 40(a)(ia), 194C(3)
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ITAT - Sales tax benefit is to be taxed as business receipts of the assessee, on which the assessee is not entitled to deduction under section 80IA
M/s. Patankar Wind Farm Pvt. Ltd. Versus The Dy. Commissioner of Income Tax
(2015) TaxCorp(LJ) 6448 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=40515&Category=ITAT&CategoryType=Zip
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ITAT - AO, Agra has not complied with the mandatory requirement of Sec. 127 but suo moto transferred the file from Agra to AO, New Delhi as if he has entered into the shoes of the Chief Commissioner or Commissioner of Income Tax; order passed is invalid and void ab initio
M/s. KIE Infrastructures & Projects Pvt. Ltd. Versus Income Tax Officer
(2015) TaxCorp(LJ) 6447 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=40519&Category=ITAT&CategoryType=Zip
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ITAT - In the case of lab results, the TSPs/ collectors / aggregators are not going to be benefited by the test results and it is the patient who is going to be benefitted by the lab results. AO to examine the fact to ascertain true relationship in respect of payment made to TSPs are commission or brokerage (For TDS u/s 194H)
ITO Versus M/s Thyrocare Technologies Ltd.
(2015) TaxCorp(LJ) 6446 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=40360&Category=ITAT&CategoryType=Zip
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HC - It is mandatory that if the application for renewal of recognition under Section 80G is not disposed of within six months from the date on which the application is made, the Commissioner has no jurisdiction either to pass an order granting the approval or rejecting it
M/s. Maheshwari Foundation Versus The Director of Income-tax (Exemptions), Bangalore
(2015) TaxCorp(LJ) 6445 (HC-KARNATAKA) · http://taxcorp.in/FileOpenDT.aspx?ID=61008&Category=Judgment&CategoryType=Zip
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HC - Assessment u/s 143(3) is void ab initio since the notice under Section 143(2) of the Act was issued beyond the period of limitation
THE COMMISSIONER OF INCOME TAX-II Versus GUJARAT FOILS LIMITED
(2015) TaxCorp(LJ) 6444 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=61024&Category=Judgment&CategoryType=Zip
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ITAT - Compensation paid to clear title of land (to remove impediments or encumbrances) has to be allowed as deduction under head 'cost of improvement'.
Assistant Commissioner of Income-tax, Circle 24 (1), New Delhi v. Pushkar Dutt Sharma
(2015) TaxCorp(LJ) 6442 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=40523&Category=ITAT&CategoryType=Zip
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HC - Professional outstanding fee received by advocate from his client after elevated to post of High Court's Judge would not be taxable u/s 4.
Commissioner of Income-tax v. Anil R. Dave
(2015) TaxCorp(LJ) 6441 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=61049&Category=Judgment&CategoryType=Zip
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