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S. 271(1)(c) & 273(2)(a): Penalty cannot be mechanically levied. Cogent reasons have to be given
Amrut Tubewell Company vs. ACIT
(2014) TaxCorp(LJ) 4565 (HC-GUJARAT) · Section. 271(1)(c), 273(2)(a)
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S. 153C: Whenever a document is found from a person who is being searched the normal presumption is that the said document belongs to that person. It is for the AO to rebut that presumption and come to a conclusion or "satisfaction" that the document in fact belongs to somebody else based on cogent material
DCIT. vs. Aakash Arogya Mindir P. Ltd.
(2014) TaxCorp(LJ) 4564 (ITAT-DELHI) · Section. 153C
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Addition U/s. 50C for mere variance with Stamp Duty Valuation without investigation not justified
Inderlok Hotels Pvt. Ltd. (Now known as Inderlok Infra-Agro Pvt. Ltd.) v/s. Income Tax Officer – Ward-5(2)(1), Mumbai
(2014) TaxCorp(LJ) 4563 (ITAT-MUMBAI) · Section. 50C
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HC quashes disciplinary proceeding against CA by ICAI for Inexcusable Delay
Vipin Malik Vs. ICAI
(2014) TaxCorp(LJ) 4562 (HC-DELHI)
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Whether security provided by government from terrorists liable to SERVICE TAX?
Mcleod Russel (India) Ltd., Kolkata Vs. Union of India & Anr.
(2014) TaxCorp(LJ) 4561 (HC-CALCUTTA)
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ITAT - Disallowance/TDS cannot be made u/s 40(a)(ia) on the basis of subsequent amendment brought into the Act with retrospective effect
Rich Graviss Products Pvt Ltd. vs ACIT
(2014) TaxCorp(LJ) 4560 (ITAT-MUMBAI)
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ITAT - Amount transferred to reserve mandatorily to meet future development expenses on specific direction of Government is revenue expenditure
ACIT vs Omnibus Industrial Development Corporation
(2014) TaxCorp(LJ) 4559 (ITAT-AHMEDABAD) · Section. 37
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ITAT - Non application of mind while making assessment amounts to erroneous assessment warranting exercise of revisional jurisdiction u/s 263.
Star Griha Private Limited vs CIT
(2014) TaxCorp(LJ) 4558 (ITAT-KOLKATA) · Section. 263
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ITAT - Write-down due to bankruptcy not revenue in nature
Tata Communications Ltd. vs ACIT
(2014) TaxCorp(LJ) 4557 (ITAT-MUMBAI)
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HC -Set-off of notionally brought forward losses available for eligible profits u/s 80IA(5)
M/s Microlabs Ltd vs ACIT
(2014) TaxCorp(LJ) 4556 (HC-KARNATAKA) · Section. 80IA(5)
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HC - Royalty payments pursuant to license granted under subsequent technical collaboration agreements is revenue in nature
CIT vs Hitech Arai Ltd
(2014) TaxCorp(LJ) 4555 (HC-MADRAS)
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ITAT - No Sec 195 TDS on payments made to foreign entities for complete source code of software as not being royalty but copyright
ACIT. vs. Bartronics India Ltd.
(2014) TaxCorp(LJ) 4554 (ITAT-HYDERABAD)
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HC - Sec 244A interest available on excess payment of self-assessment tax as it is a discharge of statutory 'obligation'
Stock Holding Corporation of India Ltd. vs. CIT
(2014) TaxCorp(LJ) 4553 (HC-BOMBAY) · Section. 244A
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HC - Order of ITAT not proper as was against principals of natural justice; an opportunity of being heard had to be necessarily granted.
CIT vs Wifi Network Pvt Ltd.
(2014) TaxCorp(LJ) 4552 (HC-KARNATAKA)
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SC - As assessee was owner of more than one residential house as on the date of transfer of land, Sec. 54F benefit could not be granted
M.J.Siwani And Another Vs. Commissioner Of Income Tax
(2014) TaxCorp(LJ) 4551 (SC)
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HC - Sec 142(1) notice issued subsequent to reopening of assessment valid
HDFC Bank Ltd vs ACIT
(2014) TaxCorp(LJ) 4550 (HC-BOMBAY) · Section. 142(1)
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HC - Brokerage for public deposits allowable as neither extension of capital nor for issue of shares for increase in share capital
CIT vs. Karnataka Power Corporation Ltd
(2014) TaxCorp(LJ) 4549 (HC-KARNATAKA)
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HC - License fee paid for availing technology in the nature of irrevocable fee is revenue expenditure
Timken India Ltd. (formerly Tata Timken Ltd.) vs. CIT
(2014) TaxCorp(LJ) 4548 (HC-CALCUTTA)
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HC - Section 80HHC(3) deduction is to be computed after setting off of the unabsorbed investment allowance u/s 32A(3)
CIT vs V.M. Salgaonkar & Bros (P) Ltd.
(2014) TaxCorp(LJ) 4547 (HC-BOMBAY) · Section. 80HHC
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HC - For Sec 80HHC deduction total income is to be computed before unabsorbed losses and depreciation
CIT vs Shri Krishna Drugs Ltd.
(2014) TaxCorp(LJ) 4546 (HC-AP) · Section. 80HHC
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