All landmark rulings

1. Direct Tax ·ITAT Panaji · 09 May 2014
   Mere no agriculture activity on land will not change the character of agricultural land. No evidence on the record that property in use is converted from agricultural land to non agricultural land prior to sale.

   ITO vs Shri Shaukat Karim Prasla

   (2014) TaxCorp(LJ) 3318 (ITAT-PANAJI)

2. Direct Tax ·Madras High Court · 04 Oct 2013
   “Meaning of owner of property” – Amendment of section 269UA w. e. f. 1-4-1988- Income from Business income or house property - The income receipt from letting out of the property was rightly assessed by the Assessing Officer as "income from house property".

   Rayala Corporation Pvt. Ltd vs ACIT

   (2014) TaxCorp(LJ) 3317 (HC-MADRAS) · S. 22, 23, 28, 269UA

3. Direct Tax ·AP High Court · 21 Feb 2014
   S. 10(1) - Hybrid seeds is a product of agricultural activity.

   Commissioner of Income Tax vs Prabhat Agri Biotech Limited

   (2014) TaxCorp(LJ) 3316 (HC-AP)

4. Direct Tax ·ITAT Mumbai · 21 May 2014
   Section 54F – Allotment date not relevant if Assessee made substantial payment for acquisition of new Flat

   ITO Vs. Saroja S. Mekal

   (2014) TaxCorp(LJ) 3315 (ITAT-MUMBAI) · Section 54F

5. Direct Tax ·ITAT Agra · 29 May 2014
   2nd proviso to Section 40(a)(ia) is retrospective- No Disallowance for non deduction of TDS if recipient of income paid tax on the same

   Rajeev Kumar Agarwal Vs. Additional Commissioner of Income Tax

   (2014) TaxCorp(LJ) 3314 (ITAT-AGRA)

6. Direct Tax ·AAR · 02 May 2014
   MFN Clause in Double Taxation Avoidance Conventions – To be partial or not to be

   Steria (India) Limited

   (2014) TaxCorp(LJ) 3313 (AAR)

7. Direct Tax ·Calcutta High Court · 12 Mar 2014
   Share Broking Company can set off loss from speculation trade against gain from delivery trading

   CIT. Vs. Baljit Securities (P) Ltd.

   (2014) TaxCorp(LJ) 3312 (HC-CALCUTTA)

8. Direct Tax ·ITAT Hyderabad · 04 Apr 2014
   Capital gains not taxable on the basis of mere signing of development agreement

   Binjusaria Properties (P.) Ltd. Vs. ACIT

   (2014) TaxCorp(LJ) 3311 (ITAT-HYDERABAD)

9. Direct Tax ·Delhi High Court · 23 May 2014
   Reassessment cannot be challenged based on mere subsequent judgment in the case of another assessee

   CIT Vs. Kultar Exports

   (2014) TaxCorp(LJ) 3310 (HC-DELHI)

10. Direct Tax ·Gujarat High Court · 24 Mar 2014
    Section 14A have no application if Assessee not made any claim for exemption

    COMMISSIONER OF INCOME TAX Versus CORRTECH ENERGY PVT LTD.

    (2014) TaxCorp(LJ) 3309 (HC-GUJARAT) · Section 14A

11. Direct Tax ·ITAT Ahmedabad · 27 May 2014
    (Majority view) Special Bench has no jurisdiction to consider whether an ex-Member of the ITAT can practice before it. (Dissenting view) Special Bench is duty bound to answer the question. On merits, Ex-Member cannot be disbarred from practice before it

    Nanubhai D. Desai vs. ACIT

    (2014) TaxCorp(LJ) 3308 (ITAT-AHMEDABAD)

12. Direct Tax ·Delhi High Court · 08 Apr 2013
    AO ought to have made the reference to the Valuation Officer when it was admitted that the assessee had made a claim u/s 50C. Tribunal has correctly sized up the law and has sustained the order of the CIT(A) in directing the AO to refer the valuation of the properties to the Valuation Officer in terms of the provisions of Section 50C(2) of the said Act.

    CIT vs KHUSHI RAM BHATNAGAR

    (2014) TaxCorp(LJ) 3307 (HC-DELHI)

13. Direct Tax ·Delhi High Court · 26 May 2014
    Important guidelines laid down regarding procedure for promotion of ITAT Members to avoid arbitrariness. Suggestion made that there should be a mechanism to oversee the quality of orders passed by ITAT Members

    R. P. Tolani, Sunil Kumar Yadav vs. UOI

    (2014) TaxCorp(LJ) 3306 (HC-DELHI)

14. Direct Tax ·Gujarat High Court · 24 May 2014
    No disallowance u/s 14A & Rule 8D can be made if the assessee does not have tax-free income & no claim for exemption is made

    CIT vs. Cortech Energy Pvt. Ltd.

    (2014) TaxCorp(LJ) 3305 (HC-GUJARAT) · Section 14A

15. Direct Tax ·ITAT Jodhpur · 23 May 2014
    Law laid down on when an isolated transaction can be regarded as an “adventure in the nature of trade” and the taxability of agricultural land situate beyond municipal limits

    Smt. Supriya Kanwar vs. ITO

    (2014) TaxCorp(LJ) 3304 (ITAT-JODHPUR)

16. Direct Tax ·Gujarat High Court · 23 May 2014
    S. 147: Strict guidelines laid down to streamline procedure for reopening of assessments

    Sahkari Khand Udyog Mandal Ltd vs. ACIT

    (2014) TaxCorp(LJ) 3303 (HC-GUJARAT) · Section. 147

17. Direct Tax ·Gujarat High Court · 23 May 2014
    S. 147: Reopening, even within 4 years, solely on the basis of a clarificatory retrospective amendment, is not permissible

    Sadbhav Engineering Ltd vs. DCIT

    (2014) TaxCorp(LJ) 3302 (HC-GUJARAT)

18. Direct Tax ·Allahabad High Court · 12 Sep 2013
    TDS on School bus fees to be deducted U/s. 194C – HC

    ACIT (TDS) Vs. Lotus Valley Education Society

    (2014) TaxCorp(LJ) 3301 (HC-ALLAHABAD)

19. Direct Tax ·Allahabad High Court · 05 May 2014
    No tax-free income – No Disallowance U/s. 14A r.w. Rule 8D – HC

    Commissioner Of Income Tax Vs. M/S. Shivam Motors (P) Ltd.

    (2014) TaxCorp(LJ) 3300 (HC-ALLAHABAD)

20. Direct Tax ·ITAT Mumbai · 31 Oct 2012
    Section 54F – Mere letter of allotment cannot be considered as investment in residential house

    Shri Rasiklal M. Parikh Vs. ACIT

    (2014) TaxCorp(LJ) 3299 (ITAT-MUMBAI)

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