Direct Tax landmark rulings

1. Gujarat High Court · 09 Apr 2014
   S. 147: Reopening, even within 4 years, solely on the basis of a clarificatory retrospective amendment is not permissible

   Sadbhav Engineering Ltd vs. DCIT

   (2014) TaxCorp(LJ) 3351 (HC-GUJARAT)

2. Allahabad High Court · 05 May 2014
   In the absence of any tax free income, disallowance under section 14A is not permissible.

   Commissoner Of Income Tax vs Shivam Motors (P) Ltd

   (2014) TaxCorp(LJ) 3350 (HC-ALLAHABAD)

3. Jharkhand High Court · 14 Feb 2014
   Assessee not entitled to file revised return, once the return u/s 158BC is filed. Second proviso to Section 158BC(ii) and penal provisions u/s 158BFA is mandatory

   Commissioner of Income Tax Vs Hitech Chemical (P) Ltd

   (2014) TaxCorp(LJ) 3349 (HC-JHARKHAND)

4. Kerala High Court · 20 Mar 2014
   Assessee cannot claim the benefit of written down value of cost of construction which he had incurred under the head 'current repairs'

   COASTAL RESORTS (INDIA) LTD vs ACIT

   (2014) TaxCorp(LJ) 3348 (HC-KERALA)

5. Delhi High Court · 23 May 2014
   Merely because a Subsequent judgment of the HC held the amendment to be arbitrary, to the extent of its retrospectivity, reassessment order cannot be affected. The reassessment order gave effect to the amendment. Assessee neither filed an appeal within 30 days nor moved writ proceedings against the retrospective amendment.

   CIT vs KULTAR EXPORTS

   (2014) TaxCorp(LJ) 3346 (HC-DELHI)

6. Delhi High Court · 21 Jan 2014
   Not keeping separate books together with frequent transactions means that gains from shares have to be assessed as business profits instead of as STCG

   CIT Vs. M/s. D&M Components Ltd.

   (2014) TaxCorp(LJ) 3345 (HC-DELHI)

7. ITAT Chandigarh · 20 May 2014
   ROI filed in india, taxpayer can claim loss incurred from house property located outside India.

   Sumit Aggarwal vs DCIT

   (2014) TaxCorp(LJ) 3344 (ITAT-CHANDIGARH)

8. ITAT Panaji · 27 Sep 2013
   S. 5A, 2(22)(e) – Spouse has no interest in the company

   ACIT vs Mr. Shelly Gonsalves & Mrs. Theresa Gonsalves

   (2014) TaxCorp(LJ) 3343 (ITAT-PANAJI)

9. ITAT Panaji · 25 Oct 2013
   S. 48 r.w.s 55 - AO cannot take the least Fair Market Value for computing the Capital Gains. No rule prescribed for the determination of the Fair Market Value.

   ACIT vs Shri Vallabh Vinayak Juwarkar

   (2014) TaxCorp(LJ) 3342 (ITAT-PANAJI)

10. ITAT Panaji · 06 Sep 2013
    Refund of allocation charges by Insurance agent to taxpayer not income.

    Sri Praveen V. Doddanavar vs JCIT

    (2014) TaxCorp(LJ) 3341 (ITAT-PANAJI)

11. ITAT Cochin · 09 May 2014
    Declarations filed in Form 15G/15H to CIT - Interest u/s. 201(1A) – S. 197A(1A) provision overrides the provisions of S. 194A if the modalities prescribed in section 197A(1A) are complied with.

    Ernakulam District Co-op Bank Ltd vs ITO (TDS)

    (2014) TaxCorp(LJ) 3340 (ITAT-COCHIN)

12. ITAT Indore · 30 Jan 2014
    No addition u/s 153A / 143 (3)

    ACIT vs Shri Girish Kumar Sharda

    (2014) TaxCorp(LJ) 3339 (ITAT-INDORE)

13. AP High Court · 19 Feb 2014
    Sale of excess Carbon Credits the income is capital receipt and it cannot be business receipt or income. Hon`ble High court upheld ITAT ruling reported in (2012) 6 TaxCorp (A.T.) 29893 (HYDERABAD)

    CIT vs My Home Power Ltd

    (2014) TaxCorp(LJ) 3338 (HC-AP)

14. AP High Court · 26 Mar 2014
    Sole intention to resell of land conclusive proof of trade

    CIT vs Sri Rao Shiva Kumar

    (2014) TaxCorp(LJ) 3337 (HC-AP)

15. ITAT Delhi · 16 May 2014
    Merely agreement of sale not registered would be no ground to doubt its genuineness.

    ITO vs Smt. Kranti Devi

    (2014) TaxCorp(LJ) 3336 (ITAT-DELHI)

16. Allahabad High Court · 01 May 2014
    Technical or professional services - No independent evaluation by CIT(A) / ITAT. Issue remitted back to CIT(A).

    CIT vs Kisan Sahkari Chini Mill Ltd

    (2014) TaxCorp(LJ) 3335 (HC-ALLAHABAD)

17. Allahabad High Court · 15 Apr 2014
    Condonation of delay on the part of a government department or agencies - A nationalised bank, which has its own systems and processes, is surely not dependant on the availability or non availability of an officer for filing an appeal before the Tribunal.

    Union Bank Of India vs Income Tax Appellate Tribunal And 2 Ors

    (2014) TaxCorp(LJ) 3334 (HC-ALLAHABAD)

18. P&H High Court · 16 Jan 2014
    S. 23 nor S. 24 provides deduction of the commission paid to the broker or the agent while letting out the property.

    Piccadily Hotels Private Limited vs CIT

    (2014) TaxCorp(LJ) 3333 (HC-P&H)

19. Bombay High Court · 19 May 2014
    S. 50B applies only to a “sale” for a “monetary consideration” and not to a case of “exchange” of the undertaking for shares under a s. 391/394 scheme of arrangement

    CIT v. Bharat Bijlee Limited

    (2014) TaxCorp(LJ) 3332 (HC-BOMBAY)

20. Gujarat High Court · 11 Mar 2014
    Assessing Officer could not initiate reassessment proceedings on basis of mere change of opinion that income in question was taxable as 'business income' where assessing officer accepted assessee's claim that income arising from sale of land was taxable as 'long-term capital gain'.

    Spunpipe and Construction Co. vs ACIT

    (2014) TaxCorp(LJ) 3331 (HC-GUJARAT)

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