All landmark rulings

1. Direct Tax ·Delhi High Court · 18 Jul 2014
   Hindustan Housing and Land Development Trust cannot apply in view of the provisions of newly enacted Section 45(5) inserted with effect from 1st April, 1988. He accordingly computed the total taxable income as Rs.67,71,560/-.

   CIT. Vs. SHARDA KOCHHAR

   (2014) TaxCorp(LJ) 3580 (HC-DELHI) · Income tax - Sections 45(5), 148

2. Direct Tax ·ITAT Chandigarh · 24 Jul 2014
   The difference in the credit entries was treated as unaccounted sales and an addition of Rs. 23,98,275 was made on this account. Some more additions were made on account unexplain credit and income from other source.

   ITO. Vs. M/s BHARAT PLASTOCHEM PVT LTD.

   (2014) TaxCorp(LJ) 3579 (ITAT-CHANDIGARH) · Income Tax - Sections 40A(3), 145(3)

3. Direct Tax ·Supreme Court · 18 Feb 2014
   Month - Month does not mean 30 days – Computation of six months period, Negotiable Instruments Act, 1881, section 138.

   Rameshchandra Ambalal Joshi vs. State of Gujarat & Anr.

   (2014) TaxCorp(LJ) 3578 (SC)

4. Direct Tax ·ITAT Jodhpur · 13 May 2014
   Whether an assessee who purchased land by raising funds in his name can be treated as benamidar of other without doubting the genuineness of loan and sanctity of the registered sale deed - Held Appeal of the revenue is dismissed.

   INCOME TAX OFFICER Vs. SHRI RAMA GAMETI

   (2014) TaxCorp(LJ) 3577 (ITAT-JODHPUR) · Income Tax - Sections 12A(a), 45, 48, 50C, 131, 143(3), 148, 260A

5. Direct Tax ·ITAT Delhi · 24 Apr 2014
   Whether an assessee after furnishing the TDS certificates, credit for which is being claimed, discharges the primary onus on him toward claiming credit.

   DEPUTY COMMISSIONER OF INCOME TAX Vs. SAHARA INDIA HOUSING CORPORATION LTD.

   (2014) TaxCorp(LJ) 3576 (ITAT-DELHI)

6. Direct Tax ·ITAT Hyderabad · 09 Jul 2014
   Whether in such a case, the authorized officer could not ask for extension of time for holding the documents beyond the prescribed period.

   SHRI K NARENDRA REDDY Vs. DEPUTY COMMISSIONER OF INCOME TAX

   (2014) TaxCorp(LJ) 3575 (ITAT-HYDERABAD) · Income Tax - Sections 133A, 143(3), 194A, 194C, 201(1) & (1A)

7. Direct Tax ·ITAT Ahmedabad · 02 May 2014
   Whether the addition of Rs.97 lakhs of share application money was justified when the assessee could not prove the genuineness of the deposit of share application money.

   M/s MODERN TUBE INDUSTRIES LTD. Vs. INCOME TAX OFFICER

   (2014) TaxCorp(LJ) 3574 (ITAT-AHMEDABAD) · Income Tax - Sections 115JB, 131, 154, 271(1)(c)

8. Direct Tax ·ITAT Amritsar · 29 Apr 2014
   Whether the CIT(A) is justified in deleting the addition (i) of Rs. 27,32,916/- made by the AO on account of investment in purchases from undisclosed sources and profit on sales made outside the books of accounts when the comparison of trading account with the Input Tax Account and Output Tax Account, fully tally with the trading account as per books of account?(ii) of Rs. 1,44,750/- made by AO in respect of bad debt when it was not disputed by the AO that the recovery of amount in dispute is still unrecovered.

   INCOME TAX OFFICER Vs. M/s RAJIV EXPORTS

   (2014) TaxCorp(LJ) 3573 (ITAT-AMRITSAR) · Income Tax - Sections 133A, 133(6), 292C

9. Direct Tax ·ITAT Delhi · 24 Apr 2014
   Whether assessee was liable for imposition of penalty u/s 271(1) in case exemption claim made by him was unsustainable.

   SHRI UDAY PUNJ Vs. ASSTT COMMISSIONER OF INCOME TAX

   (2014) TaxCorp(LJ) 3572 (ITAT-DELHI) · Income Tax - Sections 43(5), 143(1), 271(1)(c)

10. Direct Tax ·ITAT Ahmedabad · 11 Jul 2014
    Whether penalty u/s 271(1)(c) can be levied even if the assessee has offered gains arising out of bonus shares as capital gain and paid tax on the same and had the assessee waited for some more time the LTCG would have been tax exempt.

    SHRI RUSTOM SORAB MEDORA Vs. INCOME TAX OFFICER

    (2014) TaxCorp(LJ) 3571 (ITAT-AHMEDABAD) · Income Tax - Sections 271(1)(c), 274

11. Direct Tax ·ITAT Cochin · 04 Jul 2014
    Whether the application of mind has to be reflected in the assessment order as also the reasons for conclusion available in the order itself.

    M/s METRO TRADING SYNDICATE Vs. ASSTT COMMISSIONER OF INCOME TAX

    (2014) TaxCorp(LJ) 3570 (ITAT-COCHIN) · Income Tax – Sections 12A, 136, 250, 263, 271, 274

12. Direct Tax ·ITAT Lucknow · 27 May 2014
    Whether when assessee has wrongly overstated the turnover arising from incorrect figures mentioned in the TDS certificate, the assessment can still be completed without considering the same

    KAILASH CHANDRA SHARMA Vs. INCOME TAX OFFICER

    (2014) TaxCorp(LJ) 3569 (ITAT-LUCKNOW) · Income Tax - Sections - 44AE, 44AF

13. Direct Tax ·ITAT Delhi · 30 Jun 2014
    Whether remuneration and salaries paid to employees is allowable if the same is in permissible limit as prescribed by the Companies Act.

    M/s TAURAS INDIA LTD. Vs. DEPUTY COMMISSIONER OF INCOME TAX

    (2014) TaxCorp(LJ) 3568 (ITAT-DELHI) · Income Tax - Sections 37(1), 139(1), 145

14. Direct Tax ·ITAT Mumbai · 21 Feb 2014
    Whether disallowance of 50% of expenditure on ad-hoc basis was justified when the AO has not pinpointed any of the expenditure which was not properly vouched or not supported by bills etc.

    MAHINDRA FIRST CHOICE WHEELS LTD., (FORMERLY AUTOMART INDIA LTD.) Vs. ITO

    (2014) TaxCorp(LJ) 3567 (ITAT-MUMBAI) · Income Tax - Sections 32, 37, 40(a)(ia), 143(3), 234B, 234D

15. Direct Tax ·ITAT Hyderabad · 09 Jul 2014
    Whether when there is a pending suit for recovery of advance and interest thereon filed by the assessee, the CIT(C) cannot assume jurisdiction under section 263 that higher amount should be considered for levy of interest.

    M/s SURASA GREEN LANDS (P) LTD. Vs. DEPUTY COMMISSIONER OF INCOME TAX

    (2014) TaxCorp(LJ) 3566 (ITAT-HYDERABAD) · Income Tax - Sections 143(3), 263

16. Direct Tax ·ITAT Mumbai · 19 May 2014
    Whether the assessee would be liable if no TDS is deducted on such payment.

    TRO (TDS) Vs. SHELTON INFRASTRUCTURE PVT LTD.

    (2014) TaxCorp(LJ) 3565 (ITAT-MUMBAI) · Income Tax - Sections 37(1), 43, 194-I, 201(1), 201(1A)

17. Direct Tax ·ITAT Ahmedabad · 20 Jun 2014
    Whether payment of commission is allowable where the order was procured and the sales were executed through commission agents and TDS was deducted on payment of commission.

    M/s ARPAN AROMATICS Vs. ADDITIONAL COMMISSIONER OF INCOME, INCOME TAX OFFICER

    (2014) TaxCorp(LJ) 3564 (ITAT-AHMEDABAD) · Income Tax - Sections 36(i)(iii), 68, 145, 145A

18. Direct Tax ·ITAT Cuttack · 27 Jun 2014
    Whether condonation of delay can be given when the representative of the assessee could not attend the matter on account of health reasons.

    M/s TOR ANUMANA TECHNOLOGIES PVT LTD. Vs. ASSTT COMMISSIONER OF INCOME TAX

    (2014) TaxCorp(LJ) 3563 (ITAT-CUTTACK) · Income Tax - Sections 9, 40(a)(ia), 68, 133(6), 143(3), 194 I, 194 J, 250, 253(5)

19. Direct Tax ·ITAT Mumbai · 14 Mar 2014
    Whether built up area of shops below or above stipulated criteria of 2,000 sq.ft., would make any difference for the purpose of claiming deduction u/s 80IB(10).

    INCOME TAX OFFICER-19(3)(4) Vs. M/s VELENTINE DEVELOPERS

    (2014) TaxCorp(LJ) 3562 (ITAT-MUMBAI) · Income Tax - Sections 80IB, 80IB(10)

20. Direct Tax ·ITAT Mumbai · 25 Jun 2014
    Whether disallowance under section 14A can exceed the total administrative expenditure debited by the assessee in the Profit & Loss account.

    ASSTT COMMISSIONER OF INCOME TAX Vs. M/s PASSIONATE INVESTMENTS MANAGEMENT PVT LTD.

    (2014) TaxCorp(LJ) 3561 (ITAT-MUMBAI) · Income Tax – 14A

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