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Interest Income of Co-Operative Bank on deposits with Co-operative Bank not eligible for Deductoion U/s. 80P
Mutholy Service Co-Operative Bank Ltd. Vs. The Income Tax Officer
(2014) TaxCorp(LJ) 4234 (ITAT-COCHIN) · Section. 80P
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Books of Accounts cannot be rejeced on mere fall in G.P Ratio
ACIT. Vs. Smt. Meena Singh Shekhawat L/h of Late Sh. Bhopal Singh Shekhawat
(2014) TaxCorp(LJ) 4233 (ITAT-JODHPUR)
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Omission of notice u/s 143(2) of the Act is not merely a procedural irregularity
ITO Vs. Shri Bhuvanesh Maheshwari
(2014) TaxCorp(LJ) 4232 (ITAT-JODHPUR) · Section. 143(2)
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S. 54F amendment by Finance (No.2) Act, 2014 is prospective & w.e.f. 01.04.2015
CIT vs. V. R. Karpagam
(2014) TaxCorp(LJ) 4231 (HC-MADRAS) · Section. 54F
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Interest on NPAs, even if credited to the Profit & loss account, is not chargeable to tax
The Solapur District Central Co-op. Bank Ltd. vs. ACIT
(2014) TaxCorp(LJ) 4230 (ITAT-PUNE)
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An Attitudal change in Judges is required. It is high time for us to change our mind set and see whether this new technology can help us to increase the speed and also we have to take into account the convenience of the parties
Suvarna Rahul Musale vs. Rahul Prabhakar Musale
(2014) TaxCorp(LJ) 4229 (HC-BOMBAY)
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Senior officers of the department summoned and strictures passed for ‘Irresponsible conduct’ of filing an appeal on a point which is admittedly covered against the department by a judgement of the Supreme Court
CIT vs. Reliance Infrastructure Ltd.
(2014) TaxCorp(LJ) 4228 (HC-BOMBAY)
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Reopening of s. 143(1) assessment on the basis of the retrospective amendment of section 80HHC of the Act by the Taxation Law (Amendment) Act, 2005 is bad as the said amendment is struck doen in Avani Exports vs. CIT (Guj HC)
ACIT vs. M/s Northern Tannery
(2014) TaxCorp(LJ) 4227 (ITAT-LUCKNOW) · Section. 143(1)
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S. 115JB: Cost of use of land amortized in books cannot be added back for computing book profits
ACIT. vs. NHPC Ltd.
(2014) TaxCorp(LJ) 4226 (ITAT-DELHI) · Section. 115JB
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HC – Acceptance of Assessee is itself sufficient tangible material for the AO to reopen the assessment
POWERDEAL ENERGY SYSTEMS (I) PVT LTD Vs ASSTT COMMISSIONER OF INCOME TAX
(2014) TaxCorp(LJ) 4225 (HC-BOMBAY) · Income Tax - Sections 133A & 148
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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) 4224 (HC-MADRAS) · Income Tax - Sections 54EC, 255(4), 142 & 143(2).
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HC – Interim stay granted on Clause 7 of CBDT notification (Levy of Interest u/s 234A) dated Sept 26, 2014
All India Federation of Tax Practitioner vs. CBDT
(2014) TaxCorp(LJ) 4223 (HC-MADRAS) · 234A
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HC – Interim stay granted on Clause 7 of CBDT notification (Levy of Interest u/s 234A) dated Sept 26, 2014
All India Federation of Tax Practitioner vs. CBDT
(2014) TaxCorp(LJ) 4222 (HC-MADRAS) · 234A
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HC - Mere existence of some profit does not disqualify for registration u/s 10(23C)(vi) as educational institution
Chintels Education Society Versus Union of India And Others
(2014) TaxCorp(LJ) 4221 (HC-ALLAHABAD)
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ITAT - Merely because an expense relates to a transaction of an earlier year, it does not become prior period expenses
Indian Farmers Fertilizer Cooperation Ltd. Versus ACIT, Circle-23(1), New Delhi
(2014) TaxCorp(LJ) 4220 (ITAT-DELHI)
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Premature payment of sales-tax deferral loan by paying an amount equal to the net present value of the deferred tax by which the entire liability to pay tax/loan stood discharged is not a "benefit" taxable u/s 41 (1)
CIT vs. McDowell & Co Ltd.
(2014) TaxCorp(LJ) 4219 (HC-KARNATAKA) · Section. 41(1)
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As the UOI has continued the process of appointment of Tribunal Members without amending the Rules, the Petitioner, who was wait-listed in 2007, deserves to be considered for appointment within 30 days
Inturi Rama Rao vs. UOI
(2014) TaxCorp(LJ) 4218 (SC)
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In view of retrospective amendment, s. 234D will apply to assessment orders passed after 01.06.2003
CIT. Vs. Gujarat State Financial Services Ltd
(2014) TaxCorp(LJ) 4217 (HC-GUJARAT) · Section. 234D
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Even if s. 50C addition can be made on the basis of stamp duty valuation, addition u/s 69B cannot be made barely on the basis of DVO's report
ACIT. vs. Dilip Nabera (HUF)
(2014) TaxCorp(LJ) 4216 (ITAT-MUMBAI) · Sections. 142A, 50C, 69B
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Change of method of accounting to value the stock of its investments / securities at lower of cost or market value is valid.
ACIT vs. Bank of Maharashtra
(2014) TaxCorp(LJ) 4215 (ITAT-PUNE) · Sections. 145, 28
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