Direct Tax landmark rulings

1. ITAT Ahmedabad · 12 Sep 2014
   Whether when the assessee is into the business of constructing roads, any real will accrue on a date prior to the date of completion of project

   MSK HIGHWAYS LTD. Vs. CIT

   (2014) TaxCorp(LJ) 4114 (ITAT-AHMEDABAD) · Income Tax - Sections 143(3), 263

2. Bombay High Court · 12 Sep 2014
   Whether when transfer of any fund was made from special reserve created u/s 36(1)(vii) and was thereafter allowed for deduction, such transfer warrants invocation of section 263 upon subsequent amendment of section 36(1)(vii) restricting the transfer

   CIT. Vs. LIC HOUSING FINANCE LTD.

   (2014) TaxCorp(LJ) 4113 (HC-BOMBAY) · Income tax - Sections 36(1)(vii) & (viii), 41(4A), 263

3. Bombay High Court · 12 Sep 2014
   Whether character of any stock-in-trade acquired by partners of a firm changes into a capital asset upon dissolution of the firm, without presence of any agreement regarding such conversion by the partners

   ARVIND SHAMJI CHHEDA Vs. CIT

   (2014) TaxCorp(LJ) 4112 (HC-BOMBAY) · Income tax - Section 256

4. Delhi High Court · 04 Sep 2014
   Whether absence of physical delivery of shares in an investment transaction and incomplete broker notes, can be made a ground for treating such shares as stock-in-trade

   CIT. Vs. ANANT OVERSEAS PVT LTD.

   (2014) TaxCorp(LJ) 4111 (HC-DELHI) · Income tax - Sections 271(1)(c), 153C

5. Delhi High Court · 05 Sep 2014
   Whether when assessee earns no dividend income even then provisions of Sec 14A come into play for disallowance of expenditure incurred on managing investments

   CIT. Vs. HOLCIM INDIA PVT LTD.

   (2014) TaxCorp(LJ) 4110 (HC-DELHI) · Income Tax - Sections 3, 10, 14A, 37

6. ITAT Jodhpur · 09 Sep 2014
   Whether JCB expenses are in the nature of contract work covered u/s. 194C

   ITO. Vs. BHERUNATH MINERALS

   (2014) TaxCorp(LJ) 4109 (ITAT-JODHPUR) · Income Tax - Sections 40(a)(ia), 68, 139(1), 194C

7. HP High Court · 10 Sep 2014
   Whether the assessee is eligible for deduction u/s 80IC if it is engaged in the manufacture of a product

   CIT. Vs. PAWAN AGRAWAL

   (2014) TaxCorp(LJ) 4108 (HC-HP) · Income Tax - Section 80IC

8. Bombay High Court · 03 Sep 2014
   Whether netting up of profits from all the overseas project is mandated for ascertaining quantum of deduction u/s 80HHB

   CIT. Vs. HINDUSTAN CONSTRUCTION COMPANY LTD.

   (2014) TaxCorp(LJ) 4107 (HC-BOMBAY) · Income tax - Section 80HHB

9. Allahabad High Court · 09 Sep 2014
   Whether in case, the building which is leased out by the assessee is nothing else but a building simplicitor and is not a building, which is equipped with specialized plant and machinery, the same can be treated as a 'plant'.

   HOTEL ARTI DELUX PVT LTD. Vs. ACIT

   (2014) TaxCorp(LJ) 4106 (HC-ALLAHABAD) · Income Tax - Sections 14, 22, 260A

10. ITAT Delhi · 05 Sep 2014
    Whether when there is common shareholder for two companies, certain payments made towards deputation costs by one company to another can necessarily be construed as a colourable device

    DYNATRON SERVICES PVT LTD. Vs. ACIT

    (2014) TaxCorp(LJ) 4105 (ITAT-DELHI) · Income tax – Sections 127(2), 132, 142(1), 143(2), 153A

11. ITAT Delhi · 08 Sep 2014
    Whether when the assessee incures certain expenditure in the run up to the commencement of income such expenditures are to be treated as revenue in nature

    JCDECAUX ADVERTISING INDIA PVT LTD. Vs. DCIT

    (2014) TaxCorp(LJ) 4104 (ITAT-DELHI) · Income tax - Sections 3, 4

12. ITAT Lucknow · 05 Sep 2014
    Whether when an exporter on ground of receiving advance payment allows discount to a non-resident buyer without having any contractual obligation for the same, he is liable for tax deduction at source u/s 195 on amount of discount allowed on such sales

    DCIT. Vs. M/s KOTHARI FOOD AND FRAGRANCES

    (2014) TaxCorp(LJ) 4103 (ITAT-LUCKNOW) · Income tax - Sections 40(a)(i), 194 C, 194 H, 195

13. Supreme Court · 15 Sep 2014
    SC - Proviso to Sec. 113 to operate prospectively; proviso cannot be treated as declaratory/statutory or curative in nature

    CIT vs Vatika Township Private Limited

    (2014) TaxCorp(LJ) 4102 (SC)

14. Supreme Court · 04 Sep 2014
    AOP not formed by volition of the parties, Income from compulsory acquisition not business income

    CIT Vs GOVINDBHAI MAMAIYA

    (2014) TaxCorp(LJ) 4101 (SC)

15. ITAT Mumbai · 12 Sep 2014
    S. 253: Filing appeals in disregard & wilful disobedience to the law laid down constitutes gross abuse of power and deserves to be punished for contempt of court and by award of exemplary costs. Action not pursued in view of written apology of concerned officials

    ACIT vs. M/s. Veena Developers

    (2014) TaxCorp(LJ) 4100 (ITAT-MUMBAI) · Section 253

16. Karnataka High Court · 10 Sep 2014
    S. 263: TPO’s acceptance of ALP shows two views are possible & CIT has no jurisdiction to revise assessment

    CIT vs. SAP Labs Pvt. Ltd

    (2014) TaxCorp(LJ) 4099 (HC-KARNATAKA) · Section 263

17. ITAT Bangalore · 10 Sep 2014
    AO’s action of giving effect to a quashed s. 263 revision order termed “assault on rule of law” & “contempt of court”

    DCIT vs. SAP Labs India Pvt. Ltd

    (2014) TaxCorp(LJ) 4098 (ITAT-BANGALORE)

18. Bombay High Court · 12 Sep 2014
    S. 254(1): Unnecessary remand by the ITAT causes prejudice and amounts to a failure to exercise jurisdiction

    Coca-Cola India Private Limited vs. ITAT

    (2014) TaxCorp(LJ) 4097 (HC-BOMBAY) · Section 254(1)

19. ITAT Hyderabad · 10 Sep 2014
    ITAT – Disallowance of business expenditure not a ground for reassessment beyond period of four years

    ITO Vs ESBEE HOLDINGS PVT. LTD

    (2014) TaxCorp(LJ) 4096 (ITAT-HYDERABAD)

20. ITAT Delhi · 10 Sep 2014
    ITAT – Long term capital loss resulting from adjustment of advances not a sham transaction

    CONSOLIDATED FINVEST & HOLDINGS LTD Vs ACIT

    (2014) TaxCorp(LJ) 4095 (ITAT-DELHI)

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