Direct Tax landmark rulings

1. Bombay High Court · 04 Dec 2014
   HC - Books of account could not be rejected casually; Procedure of sec. 145(3) must be followed

   COMMISSIONER OF INCOME TAX Vs TELETRONICS DEALING SYSTEMS P LTD.

   (2014) TaxCorp(LJ) 4605 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=58503&Category=Judgment&CategoryType=Zip

2. Madras High Court · 04 Dec 2014
   HC - Applicability of section 50C - Objection for invoking Section 50C(1)

   AppaduraiVijayaraghavanVersus The Joint Commissioner of Income Tax (OSD), Income Tax Department

   (2014) TaxCorp(LJ) 4604 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=58010&Category=Judgment&CategoryType=Zip

3. Delhi High Court · 04 Dec 2014
   HC - Book loss on sale of shares to the joint venture partner not colourable device

   Commissioner of Income Tax VersusSiel Ltd.

   (2014) TaxCorp(LJ) 4603 (HC-DELHI) · http://taxcorp.in/FileOpenINTL.aspx?ID=7418&Category=INTLDecisions&CategoryType=Zip%22%20\t%20%22_blank

4. P&H High Court · 04 Dec 2014
   HC – Before ordering special audit u/s 142(2A), a reasonable opportunity of being heard is required

   ISOLUX CORSAN INDIA ENGINEERING AND CONSTRUCTION PVT LTD Vs DEPUTY COMMISSIONER OF INCOME TAX

   (2014) TaxCorp(LJ) 4602 (HC-P&H) · http://taxcorp.in/FileOpenDT.aspx?ID=58434&Category=Judgment&CategoryType=Zip

5. Delhi High Court · 04 Dec 2014
   HC – After amalgamation,assessment/notice in the name of old company is void; Sec. 292B not applicable

   COMMISSIONER OF INCOME TAX-III Vs. DIMENSION APPARELS PVT LTD.

   (2014) TaxCorp(LJ) 4601 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=58501&Category=Judgment&CategoryType=Zip

6. ITAT Delhi · 03 Dec 2014
   ITAT – 80IC Benefits cannot be denied merely because audit report refers to 'rendering services of jobwork' as main business

   DCIT Vs LEGACY FOODS PVT LTD

   (2014) TaxCorp(LJ) 4600 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=3997&Category=Landmark&CategoryType=Zip

7. Bombay High Court · 03 Dec 2014
   HC – Acceptance of Assessee is itself sufficient tangible material for AO to reopen assessment

   POWERDEAL ENERGY SYSTEMS (I) PVT LTD Vs ASSTT COMMISSIONER OF INCOME TAX

   (2014) TaxCorp(LJ) 4599 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=4225&Category=Landmark&CategoryType=Zip

8. ITAT Bangalore · 03 Dec 2014
   Transfer Pricing: Law on aggregation of several international transactions to determine the Arms' Length Price explained

   Toyota Kirloskar Auto Parts Pvt. Ltd. vs. ACIT

   (2014) TaxCorp(LJ) 4598 (ITAT-BANGALORE)

9. ITAT Delhi · 03 Dec 2014
   S. 147: After the expiry of the time limit for issue of s. 143(2) notice, the AO has no jurisdiction to make a reference to the TPO. The TPO's report cannot form the basis for reopening the assessment

   EXL India Business Services Pvt Ltd. vs. ACIT

   (2014) TaxCorp(LJ) 4597 (ITAT-DELHI) · Sections. 147, 143(2)

10. ITAT Hyderabad · 03 Dec 2014
    S. 80-IB: Excise duty refund is "derived" from the undertaking. Liberty India 316 ITR 218 (SC) is distinguishable

    DCIT. vs. Coromandel International Ltd.

    (2014) TaxCorp(LJ) 4596 (ITAT-HYDERABAD) · Section. 80-IB

11. ITAT Delhi · 03 Dec 2014
    Transfer Pricing: Comparables with more than 25% RPTs have to be excluded. There are no fetters on the assessee's right to claim that a comparable included by him should be excluded

    ACIT. vs. Convergys India Service (P) Ltd.

    (2014) TaxCorp(LJ) 4595 (ITAT-DELHI)

12. ITAT Mumbai · 03 Dec 2014
    S. 37(1): Non-compete fee to ex-MD is revenue expenditure

    ACIT. vs. Clariant Chemicals (I) Ltd.

    (2014) TaxCorp(LJ) 4594 (ITAT-MUMBAI) · Section. 37(1)

13. ITAT Delhi · 03 Dec 2014
    Transfer Pricing: ALP adjustments can only be made in respect of international transactions with the AEs and cannot extend to the transactions with non AEs

    DCIT. vs. Alcatel India Limited

    (2014) TaxCorp(LJ) 4593 (ITAT-DELHI)

14. ITAT Bangalore · 17 Oct 2014
    ITAT - Sec. 184(5) does not come into operation in every case of assessment made u/s 144

    Mas Properties & Developers, vs ITO

    (2014) TaxCorp(LJ) 4592 (ITAT-BANGALORE)

15. ITAT Mumbai · 17 Oct 2014
    ITAT - Though not properly presented the principles of justice, equity and good concise cast a duty upon ITAT to correct mistakes apparent from record

    Gits Food Products Pvt.Ltd. vs ACIT

    (2014) TaxCorp(LJ) 4591 (ITAT-MUMBAI)

16. ITAT Cochin · 01 Oct 2014
    ITAT - Though assessee was not entitled to exemption u/s. 11, amount brought to tax should qualify as 'income' u/s 2(45) and should be then liable to get charged u/s 4(1)

    A.Y. Broadcast Foundation vs. ITO

    (2014) TaxCorp(LJ) 4590 (ITAT-COCHIN) · Section. 11

17. ITAT Pune · 26 Sep 2014
    ITAT - Despite filing of returns beyond prescribed due date u/s 139(1), Sec 80IB(10) deduction available

    Arun Bhagwat Patil vs. ITO

    (2014) TaxCorp(LJ) 4589 (ITAT-PUNE) · Section. 80IB(10)

18. ITAT Bangalore · 26 Sep 2014
    ITAT - Since non-resident was entitled to only half of the sale consideration, sec. 195 attracted to proportionate amount only

    Shri R. Prakash vs ITO

    (2014) TaxCorp(LJ) 4588 (ITAT-BANGALORE) · Section. 195

19. ITAT Ahmedabad · 26 Sep 2014
    ITAT - No real income could accrue to the assessee under the agreement on a date prior to the date of completion of project; revision u/s 263 not valid

    MSK Highways Ltd vs. CIT

    (2014) TaxCorp(LJ) 4587 (ITAT-AHMEDABAD)

20. ITAT Hyderabad · 26 Sep 2014
    ITAT - DIT(E) was wholly bent on refusing registration on various extraneous considerations and exceeded jurisdiction by not following jurisdictional HC ruling

    Agricultural Market Committee, Achampet vs DIT(E)

    (2014) TaxCorp(LJ) 4586 (ITAT-HYDERABAD)

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