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Whether when the AO has formed an opinion that "profits of the business of undertaking" u/s 10AA will include the "profits of the business of SEZ", the interference of Commissioner by invokation of his jurisdiction u/s 263 is warranted
M/s ZAVERI AND COMPANY EXPORTS Vs. CIT
(2014) TaxCorp(LJ) 4074 (ITAT-AHMEDABAD) · Income tax - Sections 10AA, 142(2), 143(3), 263
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Whether notice u/s 149 after expiry of six years of original assessment, can be issued in absence of any satisfaction of the AO that certain foreign income of assessee has escaped assessment
DECCAN DIGITAL NETWORKS PVT LTD. Vs. ITO
(2014) TaxCorp(LJ) 4073 (HC-DELHI) · Income tax - Sections 147, 148, 149
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Whether assessee can take a pleading that the Department was aware of the transaction prior to the search conducted u/s 132, for contending that the said transaction cannot be brought to tax
MAHARANI KAMSUNDARI OF DARBHANGA Vs. ACIT
(2014) TaxCorp(LJ) 4072 (ITAT-DELHI) · Income Tax - Sections 131(1A), 132, 158BC
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Whether expenditure incurred on repairing earthen shoulder built around the National Highway can be claimed as allowable deduction u/s 31(1)
ADDL. CIT. Vs. M/s GVK JAIPUR KISHANGARH EXPRESSWAY PVT LTD.
(2014) TaxCorp(LJ) 4071 (ITAT-JAIPUR) · Income tax - Sections 31(1), 37(1), 251(2)
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Whether any disallownace can be made u/s 43B when employees contribution towards Provident Fund and ESI has been deposited after due date but before the due date of filing of return
M/s VENKATESWARA ELECTRICAL INDUSTRIES PVT LTD. Vs. DCIT
(2014) TaxCorp(LJ) 4070 (ITAT-CHENNAI) · Income Tax - Sections 36(1)(va), 40(a)(ia), 43B, 194C, 194I
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ITAT laments severe fall in standards of CA profession. Advices ICAI to take disciplinary proceedings against erring members & tackle issue on war footing
Vijay V Meghani vs. DCIT
(2014) TaxCorp(LJ) 4069 (ITAT-MUMBAI)
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HC - Revision u/s 263 on the basis of retrospective amendment not justified
CIT vs. Sasken Communication Technologies Limited
(2014) TaxCorp(LJ) 4068 (HC-KARNATAKA) · 263
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HC – Merely because Trust proposed to carry on the business in future to support charitable purposes, registration u/s 12A cannot be declined
CIT & Ors. Vs. M/S. INDIA HERITAGE TRUST
(2014) TaxCorp(LJ) 4067 (HC-KARNATAKA) · 12A
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HC - Distinguishes SA Builders; Disallowance of interest paid justified for interest free loans to sister concern
CIT vs. K.RAHEJA DEVELOPMENT CORPORATION
(2014) TaxCorp(LJ) 4066 (HC-KARNATAKA) · 37(1), 36(1)(iii)
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HC - Tax liability cannot be enhanced in an intimation passed under section 154 by CPC-TDS without providing an opportunity of hearing
Page Industries Ltd. Vs. Dy. CIT & Ors.
(2014) TaxCorp(LJ) 4065 (HC-KARNATAKA) · 154 r/w 156
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Whether enhanced compensation can be taxed only when the original compensation was taxed
CIT. Vs. GULAB SUNDRI BAPNA
(2014) TaxCorp(LJ) 4064 (HC-DELHI) · Income tax - Sections 45(5), 48(2), 54, 54F, 55(2)
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Whether expenditure incurred on demolition, painting, flooring and partition of leasehold premises is essentially revenue in nature
ACIT. Vs. M/s SUNDARAM ASSET MANAGEMENT COMPANY LTD.
(2014) TaxCorp(LJ) 4063 (ITAT-CHENNAI) · Income Tax - Sections 32(1), 40(a)(i), 44BB, 195
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Whether foreign exchange gain earned from software development services can be treated as part of income from such services while computing operating profit margin
Cisco Systems India Pvt Ltd. Vs. DCIT
(2014) TaxCorp(LJ) 4062 (ITAT-BANGALORE) · Income tax – Sections 10A, 10B, 40(a)(ia), 92CA, 143(3), 144C
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Whether Return on capital employed can be used as a correct Profit Level indicator under the TNMM
DINURJE JEWELLERY PVT LTD. Vs. ITO
(2014) TaxCorp(LJ) 4061 (ITAT-MUMBAI) · Income Tax - Section 40A(2)(b)
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Whether when there is absence of any arrangement between the assessee and its related party which can be connected with the production of more than ordinary profits to the assessee, the deduction u/s 10A can be denied or reduced
M/s A T KEARNEY INDIA PVT LTD. Vs. ADDL. CIT
(2014) TaxCorp(LJ) 4060 (ITAT-DELHI) · Income tax - Sections 10A, 115JB, 80IA, 92BA, 92F
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Whether the mere fact that company ‘A' has been held to be not comparable in a judicial order passed in the case of company ‘B', it can be said that company ‘A' would automatically cease to be comparable to all the cases to follow
TOLUNA INDIA PVT LTD. Vs. ACIT
(2014) TaxCorp(LJ) 4059 (ITAT-DELHI) · Income Tax Act – Sections 133(6), 143(3), 144C
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Whether when TPO resorts to uniform and consistent approach in selection of comparables, any interference by the Tribunal is warranted in such a case
ACIT. Vs. M/s ZEE ENTERTAINMENT ENTERPRISES LTD.
(2014) TaxCorp(LJ) 4058 (ITAT-MUMBAI) · Income Tax - Sections 14A, 133(6)
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Whether when the parent advances interest-free loans to its AE from interest-bearing funds, TP adjustment is warranted
TTK PRESTIGE LTD. Vs. ACIT
(2014) TaxCorp(LJ) 4057 (ITAT-BANGALORE) · Income tax - Sections 2(47), 45, 46(1) & (2), 92CA, 92CB, 195(1) & (2)
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Whether there is any element of acceptability in the plea of the Revenue that globalisation of business processes itself mandates a change in the method of attribution of profits
M/s GALILEO NEDERLAND BV Vs. ADIT
(2014) TaxCorp(LJ) 4056 (HC-DELHI) · Income tax – Sections 5(2), 9(1)(i)
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HC - Expenses / Cost of abandoned project - Allowable as deduction u/s 28 r/w 37 - Fact that arbitration proceedings are pending - Not relevant in disallowing the claim
M/s. Asia Power Projects Pvt. Ltd. Vs. The Deputy Commissioner of Income Tax
(2014) TaxCorp(LJ) 4055 (HC-KARNATAKA) · 28 rw/ 37(1)
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