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HC – Penalty u/s 272B is automatic;AO has neither discretion norintention of the defaulter to be gone into
PRADEEP KUMAR Vs. THE COMMISSIONER OF INCOME TAX, INCOME TAX OFFICER
(2014) TaxCorp(LJ) 4645 (HC-KERALA) · http://taxcorp.in/FileOpenDT.aspx?ID=58375&Category=Judgment&CategoryType=Zip
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HC - Penalty proceedings cannot be taken both in the hands of the partners as well as in the hands of the firm
Commissioner of Income Tax-I Versus Sri AnoopSethi
(2014) TaxCorp(LJ) 4644 (HC-ALLAHABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=57877&Category=Judgment&CategoryType=Zip
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HC - "On-money" in property dealings; Evidence/Document required to make additionsin the hands of purchaser
Commissioner of Income-Tax Versus Shri Sanjeev Kumar Agarwal
(2014) TaxCorp(LJ) 4643 (HC-ALLAHABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=57986&Category=Judgment&CategoryType=Zip
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HC - Once the cheque issued by assessee is encashed, payment relates back to date of receipt of cheque
Commissioner of Income Tax Versus Repco Home Finance Ltd.
(2014) TaxCorp(LJ) 4642 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=58554&Category=Judgment&CategoryType=Zip
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HC – No double additionone in whose custody documents/loose papers are found and secondly in case of other person
Commissioner of Income Tax, Jaipur Versus Shri Sobhrajmal
(2014) TaxCorp(LJ) 4641 (HC-RAJASTHAN) · http://taxcorp.in/FileOpenDT.aspx?ID=58336&Category=Judgment&CategoryType=Zip
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HC –How to determine nature of expenditure on modernization and replacement of machinery?
CIT Vs PRABHU SPINNING MILLS PVT LTD
(2014) TaxCorp(LJ) 4640 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=3993&Category=Landmark&CategoryType=Zip
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HC - Mere existence of some profit does not disqualifyfor registration u/s 10(23C)(vi) aseducational institution
Chintels Education Society Versus Union of India And Others
(2014) TaxCorp(LJ) 4639 (HC-ALLAHABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=4221&Category=Landmark&CategoryType=Zip
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HC - Letting out fully furnished office premises and furniture assessable under income from other sources
Dudhsagar Investments Pvt. Ltd. Versus The Asst. Commissioner of income-tax
(2014) TaxCorp(LJ) 4638 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=57944&Category=Judgment&CategoryType=Zip
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HC - Issue of shares at premium by Indian entity to holding company does not give rise to any income from international transaction
VODAFONE INDIA SERVICES PVT LTD Vs UoI
(2014) TaxCorp(LJ) 4637 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=4202&Category=Landmark&CategoryType=Zip
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ITAT - Indian Chamber of Commerce granted exemption u/s 11 having object of development of trade, industry and commerce
Indian Chamber of Commerce vs ITO(E)
(2014) TaxCorp(LJ) 4636 (ITAT-KOLKATA)
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ITAT - No Sec 40(a)(i) disallowance for non-deduction of tax u/s 195 in respect of payments made to person resident out of India for sales & marketing support outside India
ACIT vs. Vilas N. Tamhankar
(2014) TaxCorp(LJ) 4635 (ITAT-KOLKATA) · Section. 195(1)
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ITAT - Since assessee developed the housing project as a developer and not as a works contract Sec 80IB(10) benefit available
Desai Homes vs DCIT
(2014) TaxCorp(LJ) 4634 (ITAT-COCHIN) · Section. 80IB(10)
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ITAT - Capability of land for cultivation is an important factor to decide whether land is 'agricultural' or not, thus sale of "un-cultivable" land subject to capital gains tax on sale
ACIT vs Durgadas K. Prabhu Shastri
(2014) TaxCorp(LJ) 4633 (ITAT-PANAJI)
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ITAT - Presumption not available u/s 14A r/w Rule 8D that as sufficient capital was available, investment in tax-free securities was made from own funds
Ferani Hotels Pvt. Ltd. vs ACIT
(2014) TaxCorp(LJ) 4632 (ITAT-MUMBAI)
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ITAT - Instruction No. 5/2014 issued by the CBDT on 10.7.2014 raising appeal-filing monetary limit is applicable to the pending appeals
DCIT vs. Shri Chetan Prakash Mittal
(2014) TaxCorp(LJ) 4631 (ITAT-DELHI)
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HC - 'Genuine hardship' u/s 119(2)(b) should be construed liberally, particularly in matters of entertaining of applications seeking condonation of delay
Artist Tree Pvt Ltd vs. CBDT
(2014) TaxCorp(LJ) 4630 (HC-BOMBAY)
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HC - Order, instruction, direction issued u/s 119 can't interfere with the right of the Income Tax Authority to exercise power of transfer under Section 127
C. Krishnan vs. ITO and Anr.
(2014) TaxCorp(LJ) 4629 (HC-MADRAS) · Section. 119
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HC - Tribunal and parties "comrades in arms" to achieve justice, mistake from any source should be considered by Tribunal u/s 254(2)
Supreme Industries Ltd. vs ADIT
(2014) TaxCorp(LJ) 4628 (HC-BOMBAY)
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HC - Interest on borrowed funds utilised for investment in shares can be treated as business expenditure
The Commissioner of Income Tax Versus Shriram Investments (firm)
(2014) TaxCorp(LJ) 4627 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=58473&Category=Judgment&CategoryType=Zip
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HC - Indexed Cost of Acquisition in case of capital asset acquired through succession
Commissioner of Income-tax, Mysore Versus Smt. Asha Machaiah
(2014) TaxCorp(LJ) 4626 (HC-KARNATAKA) · http://taxcorp.in/FileOpenDT.aspx?ID=58130&Category=Judgment&CategoryType=Zip
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