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HC - If capital assets upgraded goes on changing as time progresses due to competition in the market then product development expense is revenue in nature
CIT vs. Tejas Networks India (P) Ltd.
(2014) TaxCorp(LJ) 4545 (HC-KARNATAKA)
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HC - Size of the industry is big and there are large number of workers employed is no reason to deny benefit u/s 80P(2)(a)(ii) if it is a 'cottage industry'
CIT vs The Chennimalai Industrial WCS Ltd and Ors
(2014) TaxCorp(LJ) 4544 (HC-MADRAS) · Section. 80P(2)(a)(ii)
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HC - Interest income arising from surplus funds assessable as business income eligible for sec. 80HHC benefit
CIT vs. V.S. Dempo & Company Ltd.
(2014) TaxCorp(LJ) 4543 (HC-BOMBAY) · Section. 80HHC
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DRP’s stand that determination of ALP by the TPO is of no relevance in deciding the issue of suppressed sale by the assessee is not correct. Fact that products are sold below MRP does not mean the sales are suppressed
Tianjin Tianshi Biological Development Company Ltd vs. DCIT
(2014) TaxCorp(LJ) 4542 (ITAT-DELHI)
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S. 2(15) Proviso/ 10(23C) (iv): Meaning of expression "not involving the carrying of any activity of profit" explained in detail
ACIT vs. The Tribune Trust
(2014) TaxCorp(LJ) 4541 (ITAT-CHANDIGARH) · Section 2(15)
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S. 244A: Refund of self-assessment tax is entitled to interest
The Stock Holding Corporation of India vs. CIT
(2014) TaxCorp(LJ) 4540 (HC-BOMBAY) · Section 244A
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Profits on sale of carbon credits is not a taxable revenue receipt
Subhash Kabini Power Corporation Ltd vs. CIT
(2014) TaxCorp(LJ) 4539 (ITAT-BANGALORE)
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As per proviso to s. 153C, the date of receiving books of account or documents shall be considered the date of search. Therefore, under proviso to s. 153C and s. 153A(1)(b), in the case of person in whose case action is required u/s 153C, the AO is empowered to take action u/s 153C for the year in which the seized document is received by him and the preceding six years
R. L. Allied Industries vs. ITO
(2014) TaxCorp(LJ) 4538 (ITAT-DELHI) · Section 153C
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S. 255(3): Action of ITAT President in forming Special Bench lacking in propriety
Jagati Publications Ltd vs. ITAT
(2014) TaxCorp(LJ) 4537 (HC-BOMBAY) · Section 255(3)
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S. 80IB(10): Super built-up area cannot be equated with built-up area
CIT vs. Hermes Developers
(2014) TaxCorp(LJ) 4536 (HC-BOMBAY) · Section 80IB(10)
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Consideration for use of software is not assessable as royalty under Article 12 of DTAA and s. 9(1)(vi)
ADIT vs. Bartronics India Ltd
(2014) TaxCorp(LJ) 4535 (ITAT-HYDERABAD) · Section 9(1)(vi)
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SC- SLP Dismissed
Fiitjee Ltd. vs. DGIT(I) & Ors.
(2014) TaxCorp(LJ) 4534 (SC) · Section. 132
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HC explains principle of undue enrichment
Visakhapatnam Stevedores Association vs Union of India and Others
(2014) TaxCorp(LJ) 4533 (HC-AP)
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HC - Amount received by Netherlands Company for hiring out dredgers to Indian sister concern for use in India ports not "Royalty"
CIT vs Van Oord ACZ Equipment BV
(2014) TaxCorp(LJ) 4532 (HC-MADRAS)
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HC - Courts, under writ jurisdiction, cannot assume role of an appellate authority to conduct merit review of Settlement Commission's orders
CIT vs Settlement Commission and Others
(2014) TaxCorp(LJ) 4531 (HC-KERALA)
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HC - No specific consideration paid as non-compete amount
CIT vs. Govindlal C. Mandhana (HUF)
(2014) TaxCorp(LJ) 4530 (HC-BOMBAY)
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HC - Levy of penalty cannot be resorted to as a matter of course
D. Rama Rao vs ACIT
(2014) TaxCorp(LJ) 4529 (HC-AP)
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HC - Order u/s 158BC based on assessee's retracted statement recorded after search proceedings u/s 132 is quashed
CIT vs. Naresh Kumar Agarwal
(2014) TaxCorp(LJ) 4528 (HC-AP) · Section. 158BC
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HC - Sec 11(5) not violated when CBDT specifically grants exemption
DIT(E). vs. Indo French Centre
(2014) TaxCorp(LJ) 4527 (HC-DELHI) · Section. 11(5), 1 l(l)(c)
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HC - Once interest income on loan for earlier years taxed as income from other sources, loan waiver can't be "business income"
CIT vs Digiwave Infrastructure & Services Limited
(2014) TaxCorp(LJ) 4526 (HC-BOMBAY) · Section. 28(iv)
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