All landmark rulings

1. Direct Tax ·ITAT Delhi · 31 Jul 2014
   Whether when the project office of the assessee in India has the management control over the execution of the entire project, it can still claim that the income from certain activities undertaken outside India and also certain services provided by the non-resident cannot be attributed to the PE in India particularly when the assessee has submitted no details to the Revenue

   CLOUGH ENGINEERING LTD. Vs ADIT

   (2014) TaxCorp(LJ) 3640 (ITAT-DELHI) · Income Tax - Sections 90(2), 92C(2), 92E, 94AB, 143(3), 144C(13), 234B, 234C, 271(1)(c)

2. Direct Tax ·ITAT Pune · 05 Aug 2014
   S. 254(2B): Even though action of the CIT in canceling registration u/s 12AA(3) is illegal, costs cannot be awarded as the said action is in discharge of duty & not mala fide

   Parkar Medical Foundation vs. DCIT

   (2014) TaxCorp(LJ) 3639 (ITAT-PUNE) · Sections. 254(2B), 12AA(3)

3. Direct Tax ·Madras High Court · 22 Jul 2014
   Whether the provisions of Sec 9(2) amended vide Finance Act, 2010, will apply in this case.

   CIT. Vs. FAIZAN SHOES PVT LTD.

   (2014) TaxCorp(LJ) 3638 (HC-MADRAS) · Income tax - Sections 9(1)(i) (v), (vi) & (vii), 9(2), 37, 40(a)(i), 195

4. Direct Tax ·ITAT Hyderabad · 31 Jul 2014
   The TPO allowed the assessee working capital adjustment and on the basis of current year data, the TPO worked out the profit level indicator and proposed a transfer pricing adjustment against the assessee, under section 92CA.

   HYUNDAI MOTORS INDIA ENGINEERING PVT LTD. Vs. DCIT

   (2014) TaxCorp(LJ) 3637 (ITAT-HYDERABAD) · Income Tax - Sections 10A, 10B, 92CA, 133(6), 143(3), 144C(5), 234B, 234C

5. Direct Tax ·ITAT Hyderabad · 31 Jul 2014
   The Arithmetic Mean PLI was determined at 25.23%, taking the Operating Cost of Rs.155.62 crores, Hence, made an adjustment of Rs.15,20,07,732 u/s 92CA.

   CAPITAL IQ INFORMATION SYSTEMS INDIA PVT LTD. Vs. Addl CIT

   (2014) TaxCorp(LJ) 3636 (ITAT-HYDERABAD) · Income Tax - Sections 43B, 92CA(3), 143(3), 144(C)(5)

6. Direct Tax ·ITAT Hyderabad · 31 Jul 2014
   Whether allowing deduction of 1% towards risk profile uniformly can be adopted as a norm when profile of each assessee differs depending on its own business activity when compared to that of the comparable company

   EXCELLENCE DATA RESEARCH PVT LTD. VS. ITO

   (2014) TaxCorp(LJ) 3635 (ITAT-HYDERABAD) · Income Tax – Sections 10A, 92B, 92CA

7. Direct Tax ·Delhi High Court · 09 Jul 2014
   Whether when the assessee does not cooperate in the assessment proceedings and the DVO's also adops arm-chair approach of simply issuing notice and making no independent inquiry, merely following the return on capital investment method the AO can make huge additions as unexplained investment.

   COMMISSIONER OF INCOME TAX Vs. RACHNA AGARWAL

   (2014) TaxCorp(LJ) 3634 (HC-DELHI) · Income Tax - Sections 69B, 132, 142(2A), 153A

8. Direct Tax ·Bombay High Court · 24 Jul 2014
   Whether in case an opportunity has to be given in terms of SC's order to the Assessee, in that case, could it can be said that the Tribunal committed any error of law apparent on the face of the record or acted perversely in directing the AO to examine the relevant aspect, which was subject matter of the additional affidavit filed in the Supreme Court.

   RECKITT PIRAMAL PVT LTD. Vs. COMMISSIONER OF INCOME TAX

   (2014) TaxCorp(LJ) 3633 (HC-BOMBAY) · Income Tax - Section 263

9. Direct Tax ·Madras High Court · 14 Jul 2014
   Whether in case an assessee, under compelling circumstances, had accepted cash loan no penalty need be levied by invoking the provisions of Section 273-B.

   DIRECTOR OF INCOME TAX (E) Vs. M/s YOUNG MEN CHRISTIAN ASSOCIATION

   (2014) TaxCorp(LJ) 3632 (HC-MADRAS) · Income Tax - Sections 68, 269SS, 269T, 271D, 271E, 273B

10. Direct Tax ·Gujarat High Court · 10 Jul 2014
    Whether the said income would be considered as arising from banking business, and therefore, liable for exemption u/s 80P

    PRIME CO-OP BANK LTD. Vs. INCOME TAX OFFICER AND 1

    (2014) TaxCorp(LJ) 3631 (HC-GUJARAT) · Income Tax - Sections 80P, 264

11. Direct Tax ·Gujarat High Court · 21 Jul 2014
    Whether when the Tribunal has recorded that the assessee did furnish all the information required by the AO, in such a case, initiating reassessment after four years is sustainable in law.

    COMMISSIONER OF INCOME TAX-I Vs. ASIAN TUBES LTD.

    (2014) TaxCorp(LJ) 3630 (HC-GUJARAT) · Income tax - Sections 143(3), 147, 148

12. Direct Tax ·ITAT Mumbai · 04 Jul 2014
    Whether in order to claim deduction u/s 36, in addition to writing off in Profit & Loss account, an assessee has to prove its authenticity also.

    UHDE INDIA PVT LTD. Vs. ADDL COMMISSIONER OF INCOME TAX

    (2014) TaxCorp(LJ) 3629 (ITAT-MUMBAI) · Income Tax – Sections 143(3), 154, 234B, 254(1)

13. Direct Tax ·ITAT Hyderabad · 21 Mar 2014
    Whether the alternative claim for deduction u/s 10A can be disallowed on the mere non- submission of accountant's report u/s 10A(5), when such claim was yet to be duly verified by the Department.

    M/s WISSEN INFOTECH PVT LTD. Vs. INCOME TAX OFFICER WARD 3(2)

    (2014) TaxCorp(LJ) 3628 (ITAT-HYDERABAD) · Income Tax - Sections 10A(5), 10A & B, 143(3)

14. Direct Tax ·ITAT Mumbai · 31 Jul 2014
    Whereas, the Tribunal confirmed that no deduction for depreciation allowance or other administrative expenditure should be allowed.

    ROLTA HOLDING AND FINANCE CORPORATION LTD. Vs. DCIT

    (2014) TaxCorp(LJ) 3627 (ITAT-MUMBAI) · Income Tax - Sections 24(a), 254(1) & (2)

15. Direct Tax ·ITAT Bangalore · 31 Jul 2014
    The assessee, later dropped proceedings in respect of fringe benefit tax and interest claimed under section 36(1)(iii). The assessee challenged only three out of four issues in this appeal.

    SOBHA DEVELOPERS LTD. Vs. CIT

    (2014) TaxCorp(LJ) 3626 (ITAT-BANGALORE) · Income Tax - Sections 36(1)(iii), 40(a)(ia), 80IB(10), 143(1), 263

16. Direct Tax ·Delhi High Court · 22 Nov 2013
    HC grants exemption U/s. 54F on construction of new house after demolishing of old one

    CIT. Vs. Ashok Kumar Ralhan

    (2014) TaxCorp(LJ) 3625 (HC-DELHI) · Section. 54F

17. Direct Tax ·ITAT Delhi · 25 Jul 2014
    ITAT deletes Addition for unexplained cash credit in the form of Share Capital & Share Premium

    ACIT. Vs. M/s Bahubali Dyes Limited

    (2014) TaxCorp(LJ) 3624 (ITAT-DELHI)

18. Direct Tax ·ITAT Delhi · 25 Jul 2014
    For imposition of Penalty U/s. 271(1)(c) in Assessment U/s. 153A, original return of income filed u/s 139 cannot be considered

    Pawan Kumar Gupta Vs. ACIT

    (2014) TaxCorp(LJ) 3623 (ITAT-DELHI) · Sections. 271(1)(c), 153A, 139

19. Direct Tax ·ITAT Mumbai · 31 Jul 2014
    Whether initiation of re-assessment proceedings can be valid in law when the AO has not attributed any failure on the part of the assessee

    DIVERSEY INDIA PVT LTD. Vs. DCIT

    (2014) TaxCorp(LJ) 3622 (ITAT-MUMBAI) · Income Tax - Sections 43B, 143(3), 147, 148

20. Direct Tax ·Bombay High Court · 31 Jul 2014
    Whether, for the purpose of Sec 37(2A) relating to refreshment expenses incurred on employees at work, a hotel can be a place of work

    SANDVIK ASIA LTD. Vs. CIT

    (2014) TaxCorp(LJ) 3621 (HC-BOMBAY) · Income Tax - Sections 37(2A), 80V, 256(1)

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