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Whether Service provider can claim reimbursement of service tax paid by him on services provided to service receiver
M/S Bhagwati Security Services (Regd.) Vs. Union Of India & Others
(2013) TaxCorp(LJ) 2386 (HC-ALLAHABAD)
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Section 10 - Agricultural income from the sale of Prosopis Juliflora crop.
KNR AGRO FARMING MUTUALLY AIDED COOPERATIVE SOCIETY LTD vs Addl CIT
(2013) TaxCorp(LJ) 2385 (ITAT-HYDERABAD) · Income Tax Section 10
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Section 43B - Disallowance of belated payment of PF and ESIC - within the extended grace period - Whether the Amendment brought into force in the FY 2004 in section 43B of the Income Tax Act, which came into force with effect from 01.04.2004, would be made applicable retrospectively w.e.f. 01.04.1988 or not.
CIT vs AMOLI ORGANICS (P) LTD
(2013) TaxCorp(LJ) 2384 (HC-GUJARAT) · Income Tax Section 43B
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ITAT uphold the order of the CIT(A) in holding that the expenditure incurred towards internet charges and telephone charges for delivery of software should be excluded from the export turnover and from total turnover. On depreciation at 100% on library books, which comes to Rs. 3329/-, which is less than Rs.5,000/- held that since the cost of the books is less than Rs. 5,000/- 100% depreciation claimed by the assessee is to be allowed.
PERFORMICA SOFTWARE PVT LTD vs DCIT
(2013) TaxCorp(LJ) 2383 (ITAT-HYDERABAD) · Income Tax Section 10A, 32
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If there is any shortfall due to any difference of opinion, the assessee can be declared to be an assessee in default u/s.201 but no disallowance u/s. 40(a)(ia) is allowed.
THREE STAR GRANITES PVT LTD vs ACIT
(2013) TaxCorp(LJ) 2382 (HC-KERALA) · Income Tax Section 194C, 194I, 40(a)(ia), 201
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Settlement Commission reject the application u/s 245D without a legitimate
Marc Bathing Luxuries Ltd. Versus Income Tax Settlement Commission & Another
(2013) TaxCorp(LJ) 2381 (HC-DELHI) · Income Tax Section 245D
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Intention is not to earn profit but a token fee is fixed, the registration u/s 10(23C) can be denied.
GS1 INDIA vs DIRECTOR GENERAL OF INCOME TAX (EXEMPTION)
(2013) TaxCorp(LJ) 2380 (HC-DELHI) · Income Tax Section 10(23C)(iv)
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Capital gains is applicable transfer under development agreement, however assessee entitled to claim S. 54/54F exemption with regards to investments/cost of construction.
DCIT vs Mr. Jai Trikanand Rao
(2013) TaxCorp(LJ) 2379 (ITAT-MUMBAI) · Income Tax Section 50C, 54, 54F
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Expenditure on acquiring master copy of software subject to obsolescence is deductible as revenue expenditure
ORACLE INDIA PRIVATE LIMITED Vs COMMISSIONER OF INCOME TAX
(2013) TaxCorp(LJ) 2378 (HC-DELHI) · Income Tax Section 37(1)
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HC upheld the order passed by Ld. CIT(A), learned First Appellate Authority on the basis of the material which was placed before it has come to the considered finding that the second unit was a separate unit and not expansion of existing unit.
Commissioner of Income Tax VS Alcon Cement Co. Ltd
(2013) TaxCorp(LJ) 2377 (HC-BOMBAY)
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High Court verdict in Bharat Ruia 337 ITR 452 (Bom) on taxation of derivatives as speculation income/ loss is not applicable to FIIs
Platinum Asset Management Ltd vs DDIT (International Taxation)
(2013) TaxCorp(LJ) 2376 (ITAT-MUMBAI) · Income Tax Section 115AD
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Provisions of section 2(22)(e) does not apply in respect of business transactions.
Dy. Commissioner of Income Tax vs Chariot International (P) Ltd
(2013) TaxCorp(LJ) 2375 (ITAT-BANGALORE) · Income Tax Section 2(22)(e)
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Income from sale of shares taxable as capital gains and not as business income
Dy. Commissioner of Income vs Kapur Investments
(2013) TaxCorp(LJ) 2374 (ITAT-BANGALORE) · Income Tax Section 43(5)
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Rental income from fit outs and maintenance charges from an Industrial park is taxable as business income and not as income from other sources.
Kirloskar Systems Ltd vs ACIT
(2013) TaxCorp(LJ) 2373 (ITAT-BANGALORE)
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S. 10A - Conditions of splitting up and reconstruction cannot be examined in a subsequent year, mere fact that old unit is closed and employees are transferred from old unit to new unit does not lead to the conclusion that the new unit is formed by splitting up and reconstruction.
Changepond Technologies P. Ltd vs ACIT
(2013) TaxCorp(LJ) 2372 (ITAT-CHENNAI) · Income Tax Section 10A
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Refund of seized money - Interest - Assessee is entitled to interest on cash appropriated during search even if refund is directed in appeal proceedings
CHIRONJILAL SHARMA HUF vs UNION OF INDIA AND OTHERS
(2013) TaxCorp(LJ) 2371 (SC) · Income Tax Section 132B(4)(b), 240, 244A
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HC explained SC recent ruling Mak Data reported in (2013) 7 TaxCorp (DT) 55866 (SC) were its was held that Surrender of income is not voluntary. HC held Onus which shifted on the department has not been discharged. If the department did not agree with the explanation, then the onus was on the department to prove that there was concealment of particulars of income or furnishing inaccurate particulars of income.
Commissioner of Income Tax vs M/s. Gem Granites (Karnataka)
(2013) TaxCorp(LJ) 2370 (HC-MADRAS) · Income Tax Section 271(1)(c), 132
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Subsequent to HC ruling in CIT vs M/s. Gem Granites now another HC explained SC ruling in MAK Data. High court held were there was malafide intention on furnishing false particulars, penalty rightly leviable.
U.P.Matsya Vikas Nigam Ltd. vs Commissioner Of Income Tax
(2013) TaxCorp(LJ) 2369 (HC-ALLAHABAD) · Income Tax Section 271(1)(c)
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Sufficient cause not a license to file belated appeal and to get the delay condoned
Prashant Projects Limited V/s. DCIT
(2013) TaxCorp(LJ) 2368 (ITAT-MUMBAI)
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Onus Shifts on A.O. after assessee discharges onus cast on him by a cogent explanation
Commissioner of Income Tax, vs M/s.Gem Granites (Karnataka)
(2013) TaxCorp(LJ) 2367 (HC-MADRAS)
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