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21,722 rulings

Desk: Both Direct Tax GST

Direct Tax ·Allahabad High Court · 21 Oct 2013
Companies attracting MAT to pay interest U/s 234B and 234C upon default in payment of advance tax
Ginni Filaments Ltd. Mathura vs Commissioner Of Income Tax
(2014) TaxCorp(LJ) 3400 (HC-ALLAHABAD)
Direct Tax ·ITAT Delhi · 27 Mar 2014
Assessee cannot be denied credit for TDS on the ground of discrepancy in Form 26AS filed by the deductor
LSG Sky Chef (India) Pvt. Ltd vs. DCIT
(2014) TaxCorp(LJ) 3399 (ITAT-DELHI)
Direct Tax ·ITAT Delhi · 27 Mar 2014
S. 271(1)(c): Fact that assessee has huge carry forward losses and depreciation and filed a nil return suggests that there is no motive or incentive to make a bogus claim in the return.
Toscana Lasts Limited vs. ITO
(2014) TaxCorp(LJ) 3398 (ITAT-DELHI)
Direct Tax ·ITAT Bangalore · 27 Mar 2014
Unsigned cheque found with third party, initiation of proceedings u/s 153C is illegal as the condition precedent for invoking the jurisdiction u/s 153C has not been satisfied. Further if AO does not assess income for which reasons were recorded u/s 147 of the Act, he cannot assess other income.
Mookambika Developers vs ACIT
(2014) TaxCorp(LJ) 3397 (ITAT-BANGALORE)
Direct Tax ·ITAT Panaji · 30 May 2014
Processing of crude ore and waste i.e tailings usable or marketable are entitled for deduction u/s 10B.
ACIT vs. Ramacanta Velingkar Minerals
(2014) TaxCorp(LJ) 3396 (ITAT-PANAJI)
Direct Tax ·ITAT Panaji · 30 May 2014
ITAT upheld 10% disallowance on expenditure on sales promotion expenses by pharmaceutical company
ACIT vs Geno Pharmaceuticals Ltd
(2014) TaxCorp(LJ) 3395 (ITAT-PANAJI)
Direct Tax ·ITAT Jaipur · 14 Mar 2014
S. 54F - Absence of completion and possession not relevant - Any payment made towards acquisition of a new residential house by way of making payment in advance even by booking or by paying installments within the prescribed has to be is treated as investment towards purchase/construction of a new house. The assessee is entitled for exemption under section 54F of the Act.
Ram Prakash Miyan Bazaz vs DCIT
(2014) TaxCorp(LJ) 3394 (ITAT-JAIPUR)
Direct Tax ·ITAT Delhi · 14 Mar 2014
ITAT direct the AO to work out the LTCG on aforementioned observation. The long term capital gains are to be worked out by providing index cost of acquisition qua the actual payment of each installments.
Anuradha Mathur vs. ACIT
(2014) TaxCorp(LJ) 3393 (ITAT-DELHI)
Direct Tax ·Delhi High Court · 23 May 2014
Due to generation of incidental surplus by educational institution – exemption u/s 10(23C) will not be denied.
Council For The Indian School, Certificate Examinations Vs. Director General of Income Tax
(2014) TaxCorp(LJ) 3392 (HC-DELHI)
Direct Tax ·Madras High Court · 16 Apr 2014
Provisions of S. 2(22)(e) shall not apply to sum advanced to shareholder in ordinary course of business
Commissioner of Income Tax vs Shri Madurai Chettiyar Karthikeyan
(2014) TaxCorp(LJ) 3391 (HC-MADRAS)
Direct Tax ·Calcutta High Court · 12 Mar 2014
S. 73(1), assessee bieng a share broker is entitled to set off loss incurred in transactions of derivatives and day trading of shares against its profits and gains from purchase and sale of shares on delivery basis
CIT vs Baljit Securities (P.) Ltd
(2014) TaxCorp(LJ) 3390 (HC-CALCUTTA)
Direct Tax ·Allahabad High Court · 10 Jun 2014
High Court’s order on complaint of contempt by Judicial Member of ITAT against CA reveals sorry state of inter-se in-fighting between Hon’ble Members of the ITAT and members of the Bar
State of U. P. vs. S. K. Garg
(2014) TaxCorp(LJ) 3389 (HC-ALLAHABAD)
Direct Tax ·ITAT Agra · 06 Jun 2014
If no additions made on grounds of reassessment, than no addition can be made on other aspects
Rajeev Kumar Goyal Vs. ITO
(2014) TaxCorp(LJ) 3388 (ITAT-AGRA)
Direct Tax ·ITAT Agra · 04 Jun 2014
Charity from loan taken is Not a valid reason for denying sec 12AA registration
Neesu Human Resource & Welfare Society. Vs. CIT
(2014) TaxCorp(LJ) 3387 (ITAT-AGRA) · Section 12AA
Direct Tax ·ITAT Hyderabad · 02 Apr 2014
Section 54F relief remains despite commercial use of residential house
N. Revathi Vs. ITO
(2014) TaxCorp(LJ) 3386 (ITAT-HYDERABAD) · Section 54F
Direct Tax ·Allahabad High Court · 21 Oct 2013
Interest Us/ 234B & 234C payable on failure to pay advance tax in respect of tax payable u/s 115JA/115JB
Ginni Filaments Ltd. Vs. CIT.
(2014) TaxCorp(LJ) 3385 (HC-ALLAHABAD) · Sections. 234B, 234C, 115JA, 115JB
Direct Tax ·ITAT Delhi · 09 Jun 2014
S. 271(1)(c): Fact that assessee has huge carry forward losses and depreciation and filed a nil return suggests that there is no motive or incentive to make a bogus claim in the return
Toscana Lasts Limited vs. ITO
(2014) TaxCorp(LJ) 3384 (ITAT-DELHI) · Section 271(1)(c)
Direct Tax ·ITAT Agra · 09 Jun 2014
S. 153(3) Expl 3/ 267: Benefit of extended period of limitation to pass assessment order pursuant to finding/ direction of appellate authority not available if affected party not heard
Gaurav Luthara vs. ITO
(2014) TaxCorp(LJ) 3383 (ITAT-AGRA) · Section 153(3)
Direct Tax ·ITAT Mumbai · 27 Mar 2014
Assessee must be allowed TDS credit based on TDS certificate even if same is not reflected in 26AS
LSG Sky Chef (India) (P.) Ltd. Vs. DCIT
(2014) TaxCorp(LJ) 3382 (ITAT-MUMBAI)
Direct Tax ·Delhi High Court · 16 May 2014
Transfer of loan through journal entry is not violation of sec 269
ITO Vs. Sh. Dinesh Jain
(2014) TaxCorp(LJ) 3381 (HC-DELHI) · Section. 269

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