All landmark rulings

1. Direct Tax ·ITAT Delhi · 27 Jun 2014
   Whether when the assessee fails to claim Sec 10A benefits in the return, it is not entitled to claim the same.

   DEPUTY COMMISSIONER OF INCOME TAX Vs. M/s VALLIANT COMMUNICATIONS LTD.

   (2014) TaxCorp(LJ) 3560 (ITAT-DELHI) · Income tax - Sections 10A, 10B

2. Direct Tax ·ITAT Mumbai · 18 Jun 2014
   Whether deduction u/s 10B is to be computed from the profit of eligible unit before setting off the brought forward business loss and unabsorbed depreciation.

   ASB INTERNATIONAL PVT LTD. Vs. ASSTT COMMISSIONER OF INCOME TAX

   (2014) TaxCorp(LJ) 3559 (ITAT-MUMBAI) · Income Tax - Sections 10A, 10B, 32(2), 70, 71, 72(2)

3. Direct Tax ·ITAT Lucknow · 04 Jul 2014
   Whether the provisions of the Indian Trust Act, 1882 are applicable in the case of the assessee as it is a public charitable trust.

   NANDINI EDUCATIONAL & CHARITABLE TRUST Vs. COMMISSIONER OF INCOME TAX-I

   (2014) TaxCorp(LJ) 3558 (ITAT-LUCKNOW) · Income tax - Sections 2, 12AA

4. Direct Tax ·ITAT Chandigarh · 11 Jul 2014
   Whether disallowance of Rs.10 lakhs would meet the ends of justice when it is claimed that no new investments have been made and all the investments were made from assessee’s own funds.

   PUNJAB TRACTORS LTD., (SINCE MERGED WITH MAHINDRA & MAHINDRA LTD.) Vs. JOINT COMMISSIONER OF INCOME TAX

   (2014) TaxCorp(LJ) 3557 (ITAT-CHANDIGARH) · Income Tax - Sections 234D, 244A, 271(1) (c)

5. Direct Tax ·ITAT Hyderabad · 09 Jun 2014
   Whether assessee is bound to furnish completion certificate for claiming deduction u/s 80IB(10) where the housing project of the assessee was approved prior to insertion of Explanation – (ii) to clause (a) of section 80IB(10).

   INCOME TAX OFFICER Vs. M/s KURA HOMES PVT LTD.

   (2014) TaxCorp(LJ) 3556 (ITAT-HYDERABAD) · Income Tax - Sections 80IB(10), 143(1), 147, 148

6. Direct Tax ·ITAT Delhi · 25 Jul 2014
   Which were not listed in the Technical Collaboration Agreement (TCA) and hence no royalty need to have been paid on the products and hence the payments were not at arm's length price (ALP).

   HONDA SIEL POWER PRODUCTS LTD. Vs. DCIT

   (2014) TaxCorp(LJ) 3555 (ITAT-DELHI) · Income tax - Sections 40(a)(i), 92CA(3)

7. Direct Tax ·ITAT Cochin · 25 Jul 2014
   Since the assessee capitalised the payment and claimed only depreciation, there was no question of any disallowance.

   MUTHOOT FINANCE LTD. Vs. ADDL. CIT

   (2014) TaxCorp(LJ) 3554 (ITAT-COCHIN) · Income Tax - Sections 40(a)(ia), 195

8. Direct Tax ·ITAT Agra · 18 Jul 2014
   Addition cannot be made only on the basis of a surrender simplictor

   ITO. Vs. Ram Prakash

   (2014) TaxCorp(LJ) 3553 (ITAT-AGRA)

9. Direct Tax ·ITAT Delhi · 11 Jul 2014
   Deduction of Depreciation as well of Capital Expenditure in Case of Trusts not amounts to double deduction

   ITO. (E) Vs. S.D.College Society, Lahore

   (2014) TaxCorp(LJ) 3552 (ITAT-DELHI)

10. Direct Tax ·Madras High Court · 10 Jul 2014
    Whether the individual assessees are entitled to blanket the order by demand of stay under the Circular No.96., taking into consideration that the difference between the income shown in the returns and assessment orders is very high.

    DR AKILAN RAMANATHAN Vs. THE JOINT COMMISSIONER OF INCOME TAX, THE COMMISSIONER OF INCOME TAX, THE COMMISSIONER OF INCOME TAX (A)-V

    (2014) TaxCorp(LJ) 3551 (HC-MADRAS) · Income Tax - Sections 68, 147, 148

11. Direct Tax ·Bombay High Court · 07 Jul 2014
    Whether in exercise of powers under Article 226 of the Constitution, Court can direct the statutory authorities to grant interest as outside the statute.

    MERCK LTD., FORMERLY KNOWN AS E MERCK (P) LTD., TARKESHWAR SINGH Vs. COMMISSIONER OF INCOME TAX-VI, THE UNION OF INDIA THROUGH MINISTRY OF LAW

    (2014) TaxCorp(LJ) 3550 (HC-BOMBAY) · Income Tax - Sections 140A, 143(3), 243, 244(1), 244(1A)

12. Direct Tax ·Gujarat High Court · 24 Jun 2014
    Whether an assessee can be allowed deduction u/s 37(1), regarding expenditure incurred on telecommunication services, even if there were no business activities carried on by the assessee in that year.

    COMMISSIONER OF INCOME TAX –IV Vs. VODAFONE ESSAR GUJARAT LTD.

    (2014) TaxCorp(LJ) 3549 (HC-GUJARAT) · Income Tax - Section 37(1)

13. Direct Tax ·AP High Court · 11 Jun 2014
    Whether such deduction would be allowed in case neither of the events had taken place.

    M/s COROMANDEL CEMENTS LTD. Vs. COMMISSIONER OF INCOME TAX

    (2014) TaxCorp(LJ) 3548 (HC-AP) · Income Tax - Sections 256(1)

14. Direct Tax ·Karnataka High Court · 03 Jun 2014
    Whether while granting the benefit to the charitable institution, when the legislature consciously provided for the funds of the said Trust by way of investment and they have fixed a limit of 5%, by placing an interpretation, said benefits can be denied to the assessee.

    THE COMMISSIONER OF INCOME TAX, THE INCOME TAX OFFICER Vs. ISLAMIC ACADEMY OF EDUCATION

    (2014) TaxCorp(LJ) 3547 (HC-KARNATAKA) · Income Tax - Sections 11, 12, 13(4), 5(i), 21A

15. Direct Tax ·Madras High Court · 14 Jul 2014
    Whether in the nature of manufacturing process carried out by the assessee, where the shelf life of the cast iron ingot moulds, which is used for about 30 to 40 times and, thereafter, scrapped, could be taken as capital asset or a revenue asset.

    THE COMMISSIONER OF INCOME TAX Vs. M/s ADITYA FERRO ALLOYS PVT LTD.

    (2014) TaxCorp(LJ) 3546 (HC-MADRAS)

16. Direct Tax ·Madras High Court · 14 Jul 2014
    Whether the rental income earned from leasing of such assets is to be treated as business income.

    THE COMMISSIONER OF INCOME TAX Vs. TVS FINANCE AND SERVICES LTD., (FORMERLY KNOWN AS HARITA FINANCE LTD. WHICH WAS FORMERLY KNOWN AS TVS LAKSHMI CREDIT LTD.)

    (2014) TaxCorp(LJ) 3545 (HC-MADRAS)

17. Direct Tax ·Bombay High Court · 11 Jul 2014
    Whether deduction u/s 80I can be allowed on expansion of an existing manufacturing unit - Whether this would cause excess deduction u/s 80I.

    COMMISSIONER OF INCOME TAX (LARGE TAX PAYER UNIT) Vs. M/s LUBRIZOL INDIA LTD.

    (2014) TaxCorp(LJ) 3544 (HC-BOMBAY) · Income Tax - Sections 80I, 143(3), 260A

18. Direct Tax ·Bombay High Court · 03 Jul 2014
    Whether deduction u/s 80HHC in the case of MAT Assessment has to be worked out on the basis of adjusted book profit and not on the basis of profit computed on regular basis.

    THE COMMISSIONER OF INCOME TAX Vs. M/s RELIANCE INDUSTRIES LTD.

    (2014) TaxCorp(LJ) 3543 (HC-BOMBAY) · Income Tax - Sections 80HHC, 115JB, 154

19. Direct Tax ·Calcutta High Court · 10 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 MAHESH KUMAR GOYAL & ORS. Vs. THE DIRECTOR OF INCOME TAX (INVESTIGATION) & ORS

    (2014) TaxCorp(LJ) 3542 (HC-CALCUTTA) · Income Tax - Sections 132(1), 132(9A), 254

20. Direct Tax ·Madras High Court · 09 Jul 2014
    Whether when the MAT liability of the assessee is found out only because of the alertness of the AO, the levy of penalty u/s 271(1)(c) is legitimately warranted.

    M/s SRI GOKULAM HOTELS INDIA PVT LTD. Vs. THE ASST COMMISSIONER OF INCOME TAX

    (2014) TaxCorp(LJ) 3541 (HC-MADRAS) · Income Tax - Sections 115JB, 143(2), 271(1)(c)

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