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S. 147: If “reasons to believe” are not based on new, “tangible materials”, the reopening amounts to an impermissible review
Madhukar Khosla vs. ACIT
(2014) TaxCorp(LJ) 3974 (HC-DELHI) · Section 147
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S. 14A: For Rule 8D(2)(i) only expenditure relating to investments resulting in tax-free income can be considered. For Rule 8D(2)(iii) all investments, whether yielding tax-free income or not, have to be considered
Bellwether Microfinance Fund Pvt. Ltd vs. ITO
(2014) TaxCorp(LJ) 3973 (ITAT-HYDERABAD) · Section 14A
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S. 234E: High Court grants ad-interim stay against operation of notices levying fee for failure to file TDS statement
M/s Shree Builders vs. UOI
(2014) TaxCorp(LJ) 3972 (HC-MP) · Section 234E
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S. 14A & Rule 8D cannot be applied in a mechanical manner. Disallowance cannot exceed expenditure claimed as a deduction
ACIT vs. Iqbal M. Chagala
(2014) TaxCorp(LJ) 3723 (ITAT-MUMBAI) · Section 14A
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S. 14A/ Rule 8D: No disallowance can be made if there is no exempt income. Cheminvest (SB) & CBDT Circular are not good law
ACIT vs. M. Baskaran
(2014) TaxCorp(LJ) 3722 (ITAT-CHENNAI) · Section 14A
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Whether the levy of interest under the Act can be appealed against, being the compensatory and mandatory, except where the assessee limits himself to the ground that he is not liable to the levy at all.
NSDL E-GOVERNANCE INFRASTRUCTURE LTD., (FORMERLY KNOWN AS NATIONAL SECURITIES DEPOSITORY LTD.) Vs. ASSTT COMMISSIONER OF INCOME TAX
(2014) TaxCorp(LJ) 3721 (ITAT-MUMBAI) · Income Tax - Sections 14A, 143, 154, 234D, 254
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Whether the amount paid under revenue sharing basis of license is allowable as revenue expenditure.
M/s IDEA CELLULAR LTD Vs ADDL COMMISSIONER OF INCOME TAX, INCOME TAX OFFICER (3)(2)(1)
(2014) TaxCorp(LJ) 3720 (ITAT-MUMBAI) · Income Tax - Sections 35ABB, 35ABB(6), 37(1), 254
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Whether disallowance of interest expenditure incurred for non-business purposes is justified when the Assessee's claim is that it was having sufficient interest-free funds.
M/s BOMBAY SALES CORPORATION Vs JOINT COMMISSIONER OF INCOME TAX, DEPUTY COMMISSIONER OF INCOME TAX
(2014) TaxCorp(LJ) 3719 (ITAT-AHMEDABAD) · Income Tax - Sections 36(1)(iii), 40(a)(ia), 143(3), 194H, 250
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Whether when the subjective satisfaction has been arrived at by the Assessing Officer for initiation of the proceedings under section 158BD of the Act on the basis of the material collected during the course of search/inquiry, it can be said that satisfaction arrived at by the Assessing Officer while initiating proceedings under section 158 of the Act was vitiated.
GOYAL INDUSTIRES LTD Vs ASSTT COMMISSIONER OF INCOME TAX
(2014) TaxCorp(LJ) 3718 (HC-GUJARAT) · Income Tax - Sections 131 & 153BD.
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Whether the provisions of Section 44AD can be made applicable even in case the turnover is less than 40 lacs.
THE COMMISSIONER OF INCOME TAX AND ANOTHER Vs M/s P N C CONSTRUCTION COMPANY LTD.
(2014) TaxCorp(LJ) 3717 (HC-ALLAHABAD) · Income Tax - Sections 44AD, 145(3), 260A
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Whether in case the CIT (Appeals) after examining the remand report, has admitted additional evidence and allowed the appeal of the assessee, it can be further interfered without any cogent basis.
COMMISSIONER OF INCOME TAX-V Vs M/s OPERA HOUSE EXPORTS LTD.
(2014) TaxCorp(LJ) 3716 (HC-DELHI) · Income Tax - Sections 40(a)(ia), 143(2), 194J, 260A
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Whether in this case, capital gain had to be calculated separately for original and bonus shares according to the date of holding.
COMMISSIONER OF INCOME TAX Vs. SHRI D V PARANJAPE
(2014) TaxCorp(LJ) 3715 (HC-BOMBAY) · Income Tax - Sections 54(c), 54E, 148, 255(4), 256(1)
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Whether the trust which is running the educational institution has to be considered as an individual unit and the aggregate income of the trust shall be taken into consideration for the purpose of exemption u/s 10(23C).
C T EAPEN TRUST Vs. INCOME TAX OFFICER
(2014) TaxCorp(LJ) 3714 (ITAT-COCHIN) · Income Tax - Sections 10(23C), 11, 12AA
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Whether when a share broker maintains a dual portfolio for investment and stock-in-trade, the profits earned on sale of shares held as investment will be assessable as "short term capital gains"
CIT. Vs. CNB FINWIZ LTD.
(2014) TaxCorp(LJ) 3713 (HC-DELHI)
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Whether mere use of the word “satisfaction” or the words “I am satisfied” in the order or the note would meet the requirement of the concept of satisfaction as used in Section 153C
PEPSI FOODS PVT LTD. Vs. ACIT
(2014) TaxCorp(LJ) 3712 (HC-DELHI) · Income Tax - Sections 132(4A)(i), 153A, 153C, 158BC
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Whether an assessee is entitled to claim benefit u/s 10(10A) in respect of emoluments under the voluntary retirement scheme named as “Exist Option”.
ITO. Vs. SUVARNA BASAVARAJ KOTI
(2014) TaxCorp(LJ) 3711 (ITAT-PANAJI) · Income Tax - Sections 10(10C), 17(3), 89
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Whether the AO can invoke the provision u/s 140A and impose penalty, in case the admitted tax liability has been paid at the time of filing the return under section 139(5)
ACIT. VS. M/s SHRI SHAKTI CREDITS LTD.
(2014) TaxCorp(LJ) 3710 (ITAT-LUCKNOW) · Income Tax - Sections 139(1), 139(5), 140A, 140A(3), 221
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Whether when there is import of raw material due to which there is a price variation and the fact that it is the first year of operation of the assessee, it would have any impact on determination of the ALP
PUTZMEISTER CONCRETE MACHINES PVT LTD. Vs. DCIT
(2014) TaxCorp(LJ) 3709 (ITAT-PANAJI) · Income Tax - Sections 92, 92CA, 144C(5), 271(1)(c)
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Whether a higher rate of tax can be levied on the income earned by the assessee company at the time of making reassessment of income as per the provisions of section 147
DIT. Vs. M/s HYUNDAI HEAVY INDUSTRIES COMPANY LTD.
(2014) TaxCorp(LJ) 3708 (HC-UTTARAKHAND) · Income Tax - Sections 40(a), 147, 148, 244A
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ITAT - CBDT Instruction prescribing monetary limits applicable to appeals filed prior to 10.07.2014 (Dated of Order: August 12, 2014)
ITO Vs NABIKCHUDDIN SK
(2014) TaxCorp(LJ) 3707 (ITAT-KOLKATA)
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