Direct Tax landmark rulings

1. ITAT Hyderabad · 05 Dec 2014
   ITAT - Sec 80IB deduction available on excise duty refund received by assessee pursuant to Govt. incentive scheme

   DCIT vs Coromandel International Ltd.

   (2014) TaxCorp(LJ) 4681 (ITAT-HYDERABAD) · Section. 80IB

2. Bombay High Court · 05 Dec 2014
   S. 41(1): Payment of Net Present Value of sales-tax deferral loan does not constitute a taxable "benefit"

   CIT vs. Sulzer India Limited

   (2014) TaxCorp(LJ) 4672 (HC-BOMBAY) · Section 41(1)

3. AP High Court · 05 Dec 2014
   Issue of notice straightaway through affixture is not proper & renders proceedings void. On the expiry of the limitation period valuable rights accrue to the assessee

   CIT vs. Godavari Electrical Conductors

   (2014) TaxCorp(LJ) 4668 (HC-AP)

4. ITAT Delhi · 05 Dec 2014
   Transfer Pricing: Companies which are functionally similar to the assessee cannot be excluded merely because of high or low turnover

   Calibrated Healthcare Systems India Pvt. Ltd vs. ACIT

   (2014) TaxCorp(LJ) 4666 (ITAT-DELHI)

5. ITAT Pune · 05 Dec 2014
   Premium paid to buyback shares of recalcitrant shareholders is to facilitate smooth running of business and is allowable as revenue business expenditure

   DCIT vs. Bramha Corp. Hotels & Resorts Ltd

   (2014) TaxCorp(LJ) 4665 (ITAT-PUNE)

6. ITAT Panaji · 14 Aug 2014
   S. 80P Co-Operative Credit Society is a Bank if it Satisfies the conditions of a Primary Bank

   Renuka Co-Op Cedit Society Ltd. Vs ITO

   (2014) TaxCorp(LJ) 4660 (ITAT-PANAJI) · Section. 80P

7. Karnataka High Court · 05 Dec 2014
   HC –Cost Sharing Agreement only a device to avoid tax; payment to use intranet facilitytaxable as“royalty”

   CIT, ITO vs. CGI Information Systems and Management Consultants Pvt Ltd

   (2014) TaxCorp(LJ) 4659 (HC-KARNATAKA) · http://taxcorp.in/FileOpenDT.aspx?ID=4041&Category=Landmark&CategoryType=Zip

8. AP High Court · 05 Dec 2014
   HC- Depreciation and interest payment allowable even when profits are estimated

   The Commissioner of Income Tax Versus Y. Ramachandra Reddy

   (2014) TaxCorp(LJ) 4658 (HC-AP) · http://taxcorp.in/FileOpenDT.aspx?ID=58044&Category=Judgment&CategoryType=Zip

9. Madras High Court · 05 Dec 2014
   HC - Investment u/s 54EC falling under two financial years and crossing limit of Rs 50 lakhs

   COMMISSIONER OF INCOME TAX, CHENNAI Vs. C JAICHANDER

   (2014) TaxCorp(LJ) 4657 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=4224&Category=Landmark&CategoryType=Zip

10. Bombay High Court · 05 Dec 2014
    HC – Tribunal President does have power to constitute a Special Bench but at what point and how this power to be exercised is a debatable question

    M/s. Jagati Publications Ltd. Versus The President, Income Tax Appellate Tribunal Through Registrar And Others

    (2014) TaxCorp(LJ) 4656 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=58668&Category=Judgment&CategoryType=Zip

11. Chhattisgarh High Court · 05 Dec 2014
    HC – Tests for determining compulsory acquisition; Applicability of TDS u/s 194LA

    INCOME TAX OFFICER (TDS) Vs. NAYA RAIPUR DEVELOPMENT AUTHORITY

    (2014) TaxCorp(LJ) 4655 (HC-CHHATTISGARH) · http://taxcorp.in/FileOpenDT.aspx?ID=57814&Category=Judgment&CategoryType=Zip

12. Madras High Court · 05 Dec 2014
    HC -“Royalty” toward Technical Collaboration Agreement when can be treated as revenue expenditure?

    CIT Vs HITECH ARAI LTD

    (2014) TaxCorp(LJ) 4654 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=57900&Category=Judgment&CategoryType=Zip

13. Karnataka High Court · 05 Dec 2014
    HC - Subsequent amendment though retrospective will not attract Section 263 whereassessment already made

    Commissioner of Income-tax, Bangalore v. Sasken Communication Technologies Ltd.

    (2014) TaxCorp(LJ) 4653 (HC-KARNATAKA) · http://taxcorp.in/FileOpenDT.aspx?ID=58658&Category=Judgment&CategoryType=Zip

14. Delhi High Court · 05 Dec 2014
    HC - Section 54 benefits available even though new property possession not received within 2 years

    CIT Vs KULDEEP SINGH

    (2014) TaxCorp(LJ) 4652 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=57903&Category=Judgment&CategoryType=Zip

15. Delhi High Court · 05 Dec 2014
    HC – Foreign exchange fluctuation loss onFCNR (B) loan taken for debt servicing is allowable; Sec. 43A not applicable.

    CIT Vs CLIMATE SYSTEM PVT LTD

    (2014) TaxCorp(LJ) 4651 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=4052&Category=Landmark&CategoryType=Zip

16. AP High Court · 05 Dec 2014
    HC – Conditions for allowability of Secret Commission

    CIT vs M/s.Transport Corporation of India

    (2014) TaxCorp(LJ) 4650 (HC-AP) · http://taxcorp.in/FileOpenDT.aspx?ID=4147&Category=Landmark&CategoryType=Zip

17. Delhi High Court · 05 Dec 2014
    HC - Redemption fine paid to Customs is an allowable expenditure

    CIT Vs M/s Vikas Chemicals

    (2014) TaxCorp(LJ) 4649 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=57887&Category=Judgment&CategoryType=Zip

18. Delhi High Court · 05 Dec 2014
    HC -Section 10A exemption available to Recruitment related services covered as 'ITeS-HR Services’

    Commissioner of Income Tax-II, New Delhi Versus M/s. ML Outsourcing Services (P) Limited

    (2014) TaxCorp(LJ) 4648 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=58076&Category=Judgment&CategoryType=Zip

19. Delhi High Court · 05 Dec 2014
    HC – SCN issued to the company sufficient forprosecution of directors?

    INCOME TAX OFFICER Vs ANIL BATRA AND ANR

    (2014) TaxCorp(LJ) 4647 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=4178&Category=Landmark&CategoryType=Zip

20. Bombay High Court · 05 Dec 2014
    HC – Principles to determine ALV of property; How to determine reasonable/fair rent

    Commissioner of Income-tax-12 v. Tip Top Typography

    (2014) TaxCorp(LJ) 4646 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=57858&Category=Judgment&CategoryType=Zip

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