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HC - Power of stay governed by clause (c) of section 220 is a discretionary one.
Jyothy Laboratories Ltd. v. Deputy Commissioner of Income-tax, Large Tax Payer Unit-II, Chennai
(2015) TaxCorp(LJ) 6278 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=60580&Category=Judgment&CategoryType=Zip
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ITAT - Relief which is otherwise due to the assessee should not be denied just because he had inadvertently made claim under wrong provision. Section 54 exemption available even though made u/s 54D.
Income-tax Officer, Ward- 1 (3), Nashik v. Anirudha Ashok Jajoo
(2015) TaxCorp(LJ) 6277 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=40426&Category=ITAT&CategoryType=Zip
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ITAT - Registration under section 12AA cannot be denied to an educational institution, merely because it is otherwise eligible for exemption under section 10(23C)
R.K. Educational Society v. Commissioner of Income-tax (V)
(2015) TaxCorp(LJ) 6276 (ITAT-VISAKHAPATNAM) · http://taxcorp.in/FileOpenDT.aspx?ID=40424&Category=ITAT&CategoryType=Zip
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HC - Retraction made by assessee regarding unaccounted investment during survey, after 2 years and just before finalization of assessment was not acceptable and addition as undisclosed investment was to be upheld
Navdeep Dhingra v. Commissioner of Income-tax,Karnal
(2015) TaxCorp(LJ) 6275 (HC-P&H) · http://taxcorp.in/FileOpenDT.aspx?ID=60404&Category=Judgment&CategoryType=Zip
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HC - No condonation of delay of over 1100 days in filing appeal considering assessee’s laziness, lackadaisical in approach and in a non-chalant manner.
Mrs. P.S. Rajeswari v. Assistant Commissioner of Income-tax, Central Circle- IV(2), Chennai
(2015) TaxCorp(LJ) 6274 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=59240&Category=Judgment&CategoryType=Zip
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HC - No Section 43B disallowance for unpaid service tax. Section 43B does not contemplate liability to pay the service tax before actual receipt of the funds in the account of the assessee.
CIT. vs. Ovira Logistics Pvt. Ltd.
(2015) TaxCorp(LJ) 6273 (HC-BOMBAY)
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HC - Assessee outsourced only part of manufacturing activities, that too under direct control and supervision of its managerial/technical staff. Section 10B benefit to assessee (a 100% EOU) engaged in manufacturing of 'Helmet and Jackets' is allowable.
Mku (Armours) Pvt Ltd vs CIT
(2015) TaxCorp(LJ) 6272 (HC-ALLAHABAD) · Section. 10B
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ITAT - Base erosion and profit shifting (BEPS) is a tax policy consideration which is relevant for law making process. There is no role for BEPS in judicial process
ADIT. Vs. Baker Hughes Singapore Pte Ltd.
(2015) TaxCorp(LJ) 6271 (ITAT-DELHI)
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ITAT - Where non-resident does not have any permanent establishment, legal & professional fees received not taxable in India. No TDS liability u/s 195
Kirloskar Proprietary Ltd. Versus The Deputy Commissioner of Income Tax, Circle-11(1), Pune
(2015) TaxCorp(LJ) 6264 (ITAT-PUNE) · http://taxcorp.in/FileOpenINTL.aspx?ID=7803&Category=INTLDecisions&CategoryType=Zip
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HC - EOU outsourcing its manufacturing activity after carrying out detailed engineering drawing qualified as 'manufacture' or 'production' of goods; entitled to section 10B relief.
Commissioner of Income-tax- I v. AAR ESS Exim (P.) Ltd.
(2015) TaxCorp(LJ) 6258 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=60366&Category=Judgment&CategoryType=Zip
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ITAT - Brand building expenditure to create public awareness and consciousness of product so as to increase sales of assessee could not be said to bring any benefit of enduring nature; Allowable.
Deputy Commissioner of Income-tax, Circle- 2(2), Mumbai v. Polygel Industries (P.) Ltd.
(2015) TaxCorp(LJ) 6257 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=40413&Category=ITAT&CategoryType=Zip
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ITAT - Internal TNM Method was liable to be applied in order to compute ALP for international transaction from AE as well as third parties, if AE segment and third party segment being functionally comparable.
Eaton Fluid Power Ltd. v. Assistant Commissioner of Income-tax, Circle-8, Pune
(2015) TaxCorp(LJ) 6256 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=40412&Category=ITAT&CategoryType=Zip
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HC - Reassessment initiated for examining tax implications of deferred revenue on warranty claims is justified. Writ of assessee dismissed.
Dell India Pvt Ltd. vs. JCIT
(2015) TaxCorp(LJ) 6255 (HC-KARNATAKA)
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HC - AO is not justified in disallowing direct expenses without rejecting books and also when profit rate as declared was better than rate accepted in last year.
Commissioner of Income-tax, Panchkula v. Smt. Kailash Grover
(2015) TaxCorp(LJ) 6254 (HC-P&H) · http://taxcorp.in/FileOpenDT.aspx?ID=58856&Category=Judgment&CategoryType=Zip
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HC - Additions (Investment in property) made on buyer on basis of statement of seller during survey and other evidences to be sustained when assessee could not controvert findings recorded by Assessing Officer.
Joginder Lal v. Commissioner of Income-tax, Ludhiana
(2015) TaxCorp(LJ) 6253 (HC-P&H) · http://taxcorp.in/FileOpenDT.aspx?ID=60400&Category=Judgment&CategoryType=Zip
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HC - Either interest need to be waived or if not waived then the waived principal amount will have to be reduced by the amount of interest, which is not permitted for deduction u/s 43B. Revenue cannot treat entire waived amount towards principal and also deny interest u/s 43B (a double jeopardy).
CIT and Anr. vs. KLN Agrotechs (P) Ltd.
(2015) TaxCorp(LJ) 6252 (HC-KARNATAKA) · Section. 43B
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HC - Merely because assessee challenged ITAT’s order does not mean that ITAT is prevented in law from dealing with application u/s 254(2). Section 254(2) confers power upon ITAT to rectify any mistake apparent from the record within 4 years from the date of order.
R W Promotions P ltd vs ITAT
(2015) TaxCorp(LJ) 6251 (HC-BOMBAY) · Section. 254
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HC - Section 80P(2)(a)(i) deduction available to assessee co-operative society engaged in providing credit facilities to its members as assessee not a co-operative bank as per Banking Regulation Act.
The Quepem Urban Co-operative Credit Society Ltd vs ACIT
(2015) TaxCorp(LJ) 6249 (HC-BOMBAY) · Section. 80P
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ITAT - Section 80IA tax holiday (For infrastructure development) is available for construction of Foot Over Bridges and Bus Shelters. Bus shelters and FOB be considered as part of ‘infrastructure facility’ for claiming deduction u/s 80IA.
DCIT. vs. Vantage Advertising (P)Ltd.
(2015) TaxCorp(LJ) 6248 (ITAT-KOLKATA) · Section. 80IA
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HC - Section 80I tax holiday is available to assessee availing services of workers through contractors. There is nothing in Section 80I(2)(iv) to say that the relationship in order to qualify for the term “employment” must be one of master and servant and cannot extend to contractual employment.
Trimatic Engineering Co P Ltd vs. ACIT
(2015) TaxCorp(LJ) 6223 (HC-DELHI) · Section. 80I
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