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HC - Consideration received on surrender of tenancy right after 14 years to be treated as long-term capital gain
Commissioner of Income-tax v. Frick India Ltd.
(2014) TaxCorp(LJ) 4756 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=58074&Category=Judgment&CategoryType=Zip
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ITAT - On the basis of protocol to India-Sweden DTAA, a Swedish Company can claim the benefit of 'make available' condition in Indo-Portugal treaty to claim tax-free status for FTS received from its Indian Subsidiaries
Sandvik AB v. Deputy Director of Income-tax, (International Taxation)-II, Pune
(2014) TaxCorp(LJ) 4755 (ITAT-PUNE) · http://taxcorp.in/FileOpenINTL.aspx?ID=7640&Category=INTLDecisions&CategoryType=Zip
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SC - Tribunal could not have dismissed the appeal filed by the appellant for want of prosecution and it ought to have decided the appeal on merits even if the appellant or its counsel was not present when the appeal was taken up for hearing
Balaji Steel Re-Rolling Mills Vs. Commissioner Of Central Excise And Customs
(2014) TaxCorp(LJ) 4754 (SC)
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HC - No Municipal / BMC Permission Required For use of Part of Premises for Professional Practice
The Municipal Corporation for Greater Mumbai V/s. Dr. (Mrs.) Rekha S. Naik & Anr.
(2014) TaxCorp(LJ) 4753 (HC-BOMBAY)
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HC - For concealment penalty u/s 271(l)(c), nature of satisfaction of AO need not be in writing, though the factum of satisfaction must be in writing in assessment order
CIT vs Lotus Constructions
(2014) TaxCorp(LJ) 4752 (HC-AP)
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HC - When the assessee has hired trucks on payment of hire charges for utilizing the same in its business, such payment of hire charges would not fall within the provisions of Section 194C of the Act.
CIT vs. U.Bhaskaran
(2014) TaxCorp(LJ) 4751 (HC-MADRAS)
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HC - The word/expression "provision" by itself and alone without other information/material, would not reflect and indicate unascertained liability. Thus, mere surmise or suspicion cannot be a ground to reopen assessment
CIT vs Valvoline Cummins Ltd.
(2014) TaxCorp(LJ) 4750 (HC-DELHI)
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ITAT - Since premium was paid on share buy-back from two shareholder groups to protect assessee's business, the same is held to be revenue in nature
DCIT vs. Bramha Corp. Hotels & Resorts Ltd
(2014) TaxCorp(LJ) 4749 (ITAT-PUNE)
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ITAT - Since development of property was not started in AY 2001-02 and substantial payments was received only in AY 2005, capital gains was taxable only in AY 2005-06. The transfer of property did not take place on the date of execution of development agreement
Dilip Anand Vazirani vs. ITO
(2014) TaxCorp(LJ) 4748 (ITAT-MUMBAI)
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ITAT - Swedish-company could claim Fee for Technical Services ('FTS') received from its Indian subsidiaries as tax-exempt if 'make available' condition was not satisfied, as India-Sweden DTAA contained Most Favoured Nation clause ('MFN' clause) as per which make available clause in India-Portugese could be imported into the India-Sweden DTAA
Sandvik AB vs DIT
(2014) TaxCorp(LJ) 4747 (ITAT-PUNE)
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ITAT - Sec 54F exemption available to assessee for investing capital gains in acquiring 'under construction residential house and will qualify for stipulated period of 3 years (meant for construction of new house)
Jyoti Arun Kothari vs ITO
(2014) TaxCorp(LJ) 4746 (ITAT-MUMBAI) · Section 54F
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ITAT - Deeming fiction created by virtue of section 50C in determining capital gain cannot be extended to section 11(1 A) and Section 11(1A) has to be applied for definite or limited purpose for which it is created. Sec 11(1A), being specific section governing taxability of capital gains for trusts and a complete code in itself, shall prevail over Sec 50C
ACIT. Vs. The Upper India Chamber of Commerce
(2014) TaxCorp(LJ) 4745 (ITAT-LUCKNOW) · Section. 50C, 11
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ITAT - AO should verify whether actual services rendered by overseas affiliates through seconded employees to Indian assessee were technical services u/s 9(l)(vii)
Cisco Systems Services B.E. vs. ADIT
(2014) TaxCorp(LJ) 4744 (ITAT-BANGALORE)
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ITAT - For the purpose of Rule 3, (perquisite valuation), assesee falls in the category of 'others', and not of 'government department', as it is an autonomous body and merely received certain grant-in-aid from Government
Central Food Technological Research Institute vs ITO
(2014) TaxCorp(LJ) 4743 (ITAT-BANGALORE)
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A statutory order, even if a nullity, continues to be effective unless set aside by a competent authority. Such orders cannot be nullified by an administrative order
R. K. Jain vs. Chairman, Settlement Commission
(2014) TaxCorp(LJ) 4742 (HC-DELHI)
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S. 194-I: Lease premium and additional Floor Space Index (FSI) charges paid to MMRDA is not "rent" for TDS
ACIT vs. Oil and Natural Gas Corporation Ltd
(2014) TaxCorp(LJ) 4741 (ITAT-MUMBAI) · Section 194-I
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(i) S. 153A: Even in non-pending assessments where no incriminating material is found, AO is not limited to assessing “undisclosed” income, (ii) revenue expenditure on leased premises is not hit by sub-section (1A) to s. 32 or Explanation 1 to s. 32, (iii) Even income voluntarily disclosed in search is liable for 2. 234B/C interest
M/s. Nandini Delux vs. ACIT
(2014) TaxCorp(LJ) 4740 (ITAT-BANGALORE) · Section 153A
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ITAT - If some 'Other income' is received by the Govt. Agency, which is otherwise permissible as per its activities and the amount of grant in aid is accordingly reduced to that extent, it cannot be said that the amount of 'Other income' should be charged to tax and the amount of Grant should be considered as an item of non-revenue nature
Inland Waterways Authority of India vs. Addl CIT
(2014) TaxCorp(LJ) 4739 (ITAT-DELHI)
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ITAT - Re-assessment on the basis of information collected by Judges Inquiry Committee (JIC) and forwarded by member IRS officer is valid
Justice P.D.Dinakaran vs DCIT
(2014) TaxCorp(LJ) 4738 (ITAT-CHENNAI)
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Can SEZ unit claim exemption from CVD when cleared to DTA based on an Exemption Notification
Roxul Rockwool Insulation India Pvt Ltd. vs. UOI
(2014) TaxCorp(LJ) 4735 (HC-GUJARAT)
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