All landmark rulings

1. Direct Tax ·ITAT Mumbai · 31 Jul 2014
   S. 271(1)(c): Relief by CIT(A) on merits (though reversed by ITAT) means claim is debatable

   Salman Khan vs. ACIT

   (2014) TaxCorp(LJ) 3600 (ITAT-MUMBAI) · Section 271(1)(c)

2. Direct Tax ·ITAT Jaipur · 18 Jul 2014
   Whether payments remitted towards advertising charges fall within the sweep of technical services. Whether TDS obligation u/s 195 arises on such remittances.

   ADIT. Vs. TAB INDIA GRANITES PVT LTD.

   (2014) TaxCorp(LJ) 3599 (ITAT-JAIPUR) · Income tax - Sections 9(1)(ii) & (vii), 195, 201, 201(1A)

3. Direct Tax ·ITAT Delhi · 21 Jul 2014
   Whether guarantee commission adjustment under TP at the rate of 1% is fair and reasonable

   M/s KOHINOOR FOODS LTD. Vs. ACIT

   (2014) TaxCorp(LJ) 3598 (ITAT-DELHI) · Income Tax – Sections 37, 80HHC, 92CA, 132, 142(2A), 144C, 153C

4. Direct Tax ·ITAT Hyderabad · 25 Jul 2014
   Whether when an issue stands decided with respect to an earlier AY, the Revenue can agitate the same again based on a ruling which has already been reversed by the Apex Court.

   M/s PRYSMIAN CAVI ESISTEMI SRL Vs. ACIT

   (2014) TaxCorp(LJ) 3597 (ITAT-HYDERABAD) · Income Tax - Sections 143(3), 147, 148, 263

5. Direct Tax ·Delhi High Court · 17 Jul 2014
   Whether in case the will giving title to an assessee trust regarding the asset to be transferred, is pending in probate proceedings, the said assessee can be considered as the legal owner of the belongings in the said will.

   DIRECTOR OF INCOME TAX (EXEMPTION) Vs. KHETRI TRUST

   (2014) TaxCorp(LJ) 3596 (HC-DELHI) · Income Tax - Sections 11, 11(5), 13(1)(d)

6. Direct Tax ·Gujarat High Court · 01 Jul 2014
   Whether deduction u/s 80HHC could be claimed on export of cut and polished diamonds and gem stones.

   COMMISSIONER OF INCOME TAX Vs. VIKAS INTERNATIONAL

   (2014) TaxCorp(LJ) 3595 (HC-GUJARAT) · Income Tax - Sections 28(iiib), 80HHC

7. Direct Tax ·Gujarat High Court · 02 Jul 2014
   Whether the entire amount of interest received as upfront one time payment of interest immediately on allotment is included in the income for the first year in which the amount of interest is received.

   ASSTT COMMISSIONER OF INCOME TAX Vs. MANUBHAI TRIBHOVANDAS (HUF)

   (2014) TaxCorp(LJ) 3594 (HC-GUJARAT) · Income Tax - Sections 234B, 234C

8. Direct Tax ·Kerala High Court · 14 Jul 2014
   Whether merely for the reason that Tribunal found that the decisions are not applicable, the Tribunal would not have gone into the dictum laid down therein.

   JOSE KURUVINAKUNNEL Vs. THE INCOME TAX OFFICER, THE INCOME TAX APPELLATE TRIBUNAL

   (2014) TaxCorp(LJ) 3593 (HC-KERALA)

9. Direct Tax ·ITAT Chandigarh · 25 Jul 2014
   Whether the reopening of assessment is based on change in opinion when the AO has given a finding that the assessee had declared the amount on account of forfeiture of shares under the head ‘liability' in the balance sheet and the AO in the original assessment proceedings had not considered the same - ITAT - No

   THE DY COMMISSIONER OF INCOME TAX Vs. HARYANA FINANCIAL CORPORATION

   (2014) TaxCorp(LJ) 3592 (ITAT-CHANDIGARH) · Income Tax - Sections 36(1)(viii), 143(3), 144, 146, 147, 149(1), (b),154, 234D, 244A, 250(6), 263(1)

10. Direct Tax ·ITAT Mumbai · 16 Jul 2014
    Whether in case an assessee as a special purpose vehicle is constructing, operating and managing a venture and was also having its income, it was also liable to claim corresponding expenditure relating to the said income.

    M/s DIGHI PORT LTD. Vs. INCOME TAX OFFICER

    (2014) TaxCorp(LJ) 3591 (ITAT-MUMBAI) · Income Tax - Sections 43B, 69, 133A

11. Direct Tax ·ITAT Jodhpur · 02 May 2014
    Whether the set off of unabsorbed depreciation carried forward from earlier years can be allowed from income from other sources, if the assessee had no income falling u/s 28 of the Act.

    INCOME TAX OFFICER Vs. M/s RAJASTHAN MEDICAL RELIEF SOCIETY

    (2014) TaxCorp(LJ) 3590 (ITAT-JODHPUR) · Income Tax - Sections 11(2), 10(23)(iiiac), 12AA, 28, 139(1), 143(3)

12. Direct Tax ·ITAT Chandigarh · 09 Jul 2014
    Whether notice u/s 148 can be validly issued when capital gain was not duly disclosed by the assessee. Whether the assessment can be reopened following the decision in case of ACIT V Rajesh Jhaveri Stock Brokers P. Ltd.

    VANDEEP SINGH SHERGIL Vs. ASSTT COMMISSIONER OF INCOME TAX

    (2014) TaxCorp(LJ) 3589 (ITAT-CHANDIGARH) · Income Tax - Sections 2(47), 143(1), 147, 148

13. Direct Tax ·ITAT Delhi · 25 Jul 2014
    Whether any additions made u/s 69 on the basis of dump papers found during search & seizure operation can be sustained without any logically corroborating

    ACIT. Vs. SHARAD CHAUDHARY

    (2014) TaxCorp(LJ) 3588 (ITAT-DELHI) · Income tax - Sections 69, 132, 143(3), 153A

14. Direct Tax ·ITAT Delhi · 25 Jul 2014
    The AO observed that above discussion makes the things clear as per Act that assessee was not entitled for the excess depreciation and its claim of depreciation was restricted to depreciation on opening WDV for that year before the slump sale took place.

    SAIPEM TRIUNE ENGINEERING PVT LTD. Vs DCIT

    (2014) TaxCorp(LJ) 3587 (ITAT-DELHI) · Income tax - Sections 2(19AA), 2(42)(c), 32(1), 40A(2) & (3), 43(1), 170

15. Direct Tax ·Bombay High Court · 29 Jul 2014
    No s. 14A disallowance of interest paid on borrowings if assessee’s own funds and non-interest bearing funds exceeds investment in tax-free securities

    CIT vs. HDFC Bank Ltd

    (2014) TaxCorp(LJ) 3586 (HC-BOMBAY) · Section 14A

16. Direct Tax ·AP High Court · 09 Jul 2014
    Whether the market value of the property has to be taken into consideration for determining the value of property, which is allotted to the respective partners on dissolution.

    M/s ARJUNDAS RAJKUMAR AND OTHERS Vs. COMMISSIONER OF INCOME TAX

    (2014) TaxCorp(LJ) 3585 (HC-AP) · Income Tax – Sections 139B, 217

17. Direct Tax ·Bombay High Court · 04 Jul 2014
    Whether there is requirement of a notification in the official gazette as a condition precedent for availing exemption u/s 10(23G), in case, the bonds had been issued, in respect of which exemption is claimed by the asseesee.

    THE COMMISSIONER OF INCOME TAX-2 Vs. M/s LORD KRISHNA BANK LTD., (NOW MERGED WITH HDFC BANK LTD.)

    (2014) TaxCorp(LJ) 3584 (HC-BOMBAY) · Income Tax - Section 10(23G)

18. Direct Tax ·Bombay High Court · 10 Jul 2014
    Whether penalty for concealment u/s 271(1)(c) can be levied merely on the basis that assessee has raised a claim which was eventually disallowed by the assessing authority.

    THE COMMISSIONER OF INCOME TAX-2 Vs. M/s LARSEN AND TOUBRO LTD.

    (2014) TaxCorp(LJ) 3583 (HC-BOMBAY) · Income Tax - Sections 271(1)(c)

19. Direct Tax ·Bombay High Court · 11 Jul 2014
    Whether if the same is not a manufacturing activity, the deduction u/s 80IA can still be claimed.

    COMMISSIONER OF INCOME TAX-16 Vs. JAYENDRA H SHAH

    (2014) TaxCorp(LJ) 3582 (HC-BOMBAY) · Income Tax - Section 80IA

20. Direct Tax ·Gujarat High Court · 15 Jul 2014
    Whether in case of succession of the firm, AO has to make two separate assessments for the two periods pre and post succession.

    COMMISSIONER OF INCOME TAX Vs. JAYANT EXTRACTION INDUSTRIES

    (2014) TaxCorp(LJ) 3581 (HC-GUJARAT) · Income Tax - Sections 43(1), 273(2)(a)

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