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ITAT - Assessee is eligible for deduction under section 80-IB(10) even in relation to additional income offered in a statement under section 132(4) during search and income declared in return in response to notice under section 153A(1)(a)
Naresh T. Wadhwani v. Deputy Commissioner of Income-tax, Central Circle 1 (2), Pune
(2014) TaxCorp(LJ) 4914 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=38677&Category=ITAT&CategoryType=Zip
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ITAT - No TDS on fees was paid to non-resident abroad for services utilized in business carried outside India
Deputy Commissioner of Income-tax, Co. Circle II (2), Chennai v. Hofincons Infotech & Industrial Services (P.) Ltd.
(2014) TaxCorp(LJ) 4913 (ITAT-CHENNAI) · http://taxcorp.in/FileOpenINTL.aspx?ID=7783&Category=INTLDecisions&CategoryType=Zip
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HC - Once the Commissioner did not dispute the classification of the land, there was no way that he could have traced the income of the assessee to any other event other than the one of transfer of the agricultural land
Commissioner of Income-tax v. A. Vijay Kumar
(2015) TaxCorp(LJ) 4912 (HC-AP) · http://taxcorp.in/FileOpenDT.aspx?ID=58425&Category=Judgment&CategoryType=Zip
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ITAT - Commission paid to foreign agent on export sales, would not fall within definition of 'fee for technical services' and, therefore, assessee was not liable to deduct tax at source while making said payment
Assistant Commissioner of Income-tax, Co. Circle-III (2) v. Track Shoes (P.) Ltd.
(2014) TaxCorp(LJ) 4911 (ITAT-CHENNAI) · http://taxcorp.in/FileOpenINTL.aspx?ID=7603&Category=INTLDecisions&CategoryType=Zip
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ITAT - Remuneration paid to full time secretary of trust, which was about 1 per cent of total value of activities of trust, could not be said to be excessive or unreasonable so as to warrant disallowance under section 13(1)(c)
PNR Society For Relief & Rehabilitation of Disabled Trust v. Deputy Director of Income-tax (Exemption)
(2014) TaxCorp(LJ) 4910 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=37761&Category=ITAT&CategoryType=Zip
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ITAT - In view of section 124(3)(a), assessee couldn't question AO's jurisdiction before ITAT after appearing before AO and CIT(A) without raising any objection
Deputy Commissioner of Income-tax v. Chemm Finance Ltd.
(2014) TaxCorp(LJ) 4909 (ITAT-BANGALORE) · http://taxcorp.in/FileOpenDT.aspx?ID=38388&Category=ITAT&CategoryType=Zip
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HC - Assessee was under the bona fide belief that amount received by it from different donors could be treated as corpus donation, penalty deleted
Commissioner of Income-tax v. Oshwal Education Trust
(2015) TaxCorp(LJ) 4908 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=57815&Category=Judgment&CategoryType=Zip
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ITAT - Booking and cancellation of forward contract of foreign exchange were not in respect of specified export or import, transactions being speculative in nature benefit of proviso (a) of section 43(5) could not be allowed
Araska Diamond (P.) Ltd. v. Assistant Commissioner of Income-tax, 5 (1), Mumbai
(2014) TaxCorp(LJ) 4907 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=38404&Category=ITAT&CategoryType=Zip
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ITAT - Payments made by assessee to non-resident telecom operators towards interconnect usage charges and capacity transfer constitutes 'process royalty' u/s 9(l)(vi); TDS applicable.
M/s. Vodafone South Limited Vs Dy. Director of Income Tax (International Taxation)
(2014) TaxCorp(LJ) 4904 (ITAT-BANGALORE)
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ITAT - Letter found during search u/s 132 laying out entire modus operandi involved in purchase / sale and lease back transactions constitutes sufficient evidence for carrying out enquiry u/s 158BB
Karnataka Financial Services vs ACIT
(2014) TaxCorp(LJ) 4903 (ITAT-BANGALORE)
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ITAT - Though construction, installation and assembly activities are de facto in the nature of technical services, the consideration thereof will not be assessable under Article 12 but will only be assessable under Article 7 if an “Installation PE” is created under Article 5. As Article 5 is a specific provision for installation etc, it has to prevail over Article 12
Birla Corporation Limited vs. ACIT
(2014) TaxCorp(LJ) 4902 (ITAT-JABALPUR)
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ITAT - Reopening of the assessment is valid, as it has been done after forming a belief that assessee didn't prove genuineness of share transactions
Assistant Commissioner of Income-tax-1, Kanpur v. Pankaj Agarwal, HUF
(2014) TaxCorp(LJ) 4901 (ITAT-LUCKNOW) · http://taxcorp.in/FileOpenDT.aspx?ID=39179&Category=ITAT&CategoryType=Zip
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HC - Where assessee failed to produce evidence to prove that payment was made directly to individual workers, matter was to be remanded back to decide applicability of section 194C to assessee
Karnataka Rural Infrastructure Development Ltd. v. Income-tax Officer, TDS Ward
(2014) TaxCorp(LJ) 4900 (HC-KARNATAKA) · http://taxcorp.in/FileOpenDT.aspx?ID=59001&Category=Judgment&CategoryType=Zip
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ITAT - TDS in itself does not mean that whole amount mentioned in it should be taxed in a particular year. Deduction of tax and completion of assessment are two different things while finalizing tax liability of assessee
Deputy Commissioner of Income-tax, C-11 v. Rajeev G. Kalathil
(2014) TaxCorp(LJ) 4899 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=37809&Category=ITAT&CategoryType=Zip
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HC - Failure of AO to show that assessee was shifting excessive profits to eligible units, exemption u/s 80-IA is available
Commissioner of Income-tax, Meerut v. Translam Ltd.
(2014) TaxCorp(LJ) 4898 (HC-ALLAHABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=58403&Category=Judgment&CategoryType=Zip
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ITAT - For any wrong claim or showing in wrong head, whether provisions of section 154 applicable?
Rikhab Chand Jain v. Income-tax Officer
(2014) TaxCorp(LJ) 4897 (ITAT-JODHPUR) · http://taxcorp.in/FileOpenDT.aspx?ID=39180&Category=ITAT&CategoryType=Zip
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ITAT - Ad-hoc disallowance u/s 40(a)(ia) justified since books didn't show true state of affairs on job charges paid to affiliate
Amrut Textiles v. Income-tax Officer
(2014) TaxCorp(LJ) 4896 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=36791&Category=ITAT&CategoryType=Zip
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ITAT - Inland container depot operated by assessee is an 'inland port' which is one of infrastructure facility for purpose of section 80-IA
Assistant Commissioner of Income-tax v. JWC Logistics Park (P.) Ltd.
(2014) TaxCorp(LJ) 4895 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=38726&Category=ITAT&CategoryType=Zip
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HC - Since assessee was having two clearly separate portfolios for shares i.e., investment and stock in trade, gain arising on sale of shares couldn't be held as business income if sale was made from investment portfolio
Commissioner of Income-tax-II v. M.G. Share & Stock (P.) Ltd.
(2014) TaxCorp(LJ) 4894 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=58028&Category=Judgment&CategoryType=Zip
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HC - Advertisement expense cannot be disallowed simply on the ground that these were exorbitant
CIT. Vs. Discovery Communication India
(2014) TaxCorp(LJ) 4893 (HC-DELHI)
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