All landmark rulings

1. Direct Tax ·Calcutta High Court · 17 Feb 2014
   Penalty U/s. 271B by ITO exceeding Rs. 10,000 in absence of prior approval of Joint Commissioner not valid

   Sagar Dutta Vs. Commissioner of Income-tax, Kolkata & Anr.

   (2014) TaxCorp(LJ) 3278 (HC-CALCUTTA)

2. Direct Tax ·Delhi High Court · 05 May 2014
   Amendment made by Companies Act,2013 are under Consideration – MCA TO Delhi HC

   Mr. Harish Khurana Vs. MCA & Another

   (2014) TaxCorp(LJ) 3277 (HC-DELHI)

3. Direct Tax ·Supreme Court · 21 Apr 2014
   Revised SC guideline in Cheque Bounce Cases U/s. Section 138 (NI Act)

   Indian Bank Association and Others v. Union of India

   (2014) TaxCorp(LJ) 3276 (SC)

4. Direct Tax ·Bombay High Court · 15 May 2014
   S. 50B applies only to a “sale” for a “monetary consideration” and not to a case of “exchange” of the undertaking for shares under a s. 391/394 scheme of arrangement

   CIT vs. Bharat Bijlee Ltd

   (2014) TaxCorp(LJ) 3275 (HC-BOMBAY)

5. Direct Tax ·Supreme Court · 14 May 2014
   Important principles on distinction between “contract for sale of goods” and “works contract” explained

   Kone Elevator India Pvt. Ltd vs. State of T. N

   (2014) TaxCorp(LJ) 3274 (SC)

6. Direct Tax ·Supreme Court · 14 May 2014
   Despite pronouncement of verdict in open court & signing of draft judgement, Judge entitled to alter verdict until judgement is signed & sealed

   Kushalbhai Ratanbhai Rohit vs. State of Gujarat

   (2014) TaxCorp(LJ) 3273 (SC)

7. Direct Tax ·Allahabad High Court · 10 May 2014
   No s. 271(1)(c) penalty for concealment under normal provisions if s. 115JB book profits assessed

   CIT vs. Jindal Polyester & Steel Ltd

   (2014) TaxCorp(LJ) 3272 (HC-ALLAHABAD) · Section 271(1)(c)

8. Direct Tax ·ITAT Mumbai · 09 May 2014
   S. 32: Assessee (Bank) is entitled to depreciation on assets given on lease

   ICICI Bank Ltd vs. JCIT

   (2014) TaxCorp(LJ) 3271 (ITAT-MUMBAI) · Section. 32

9. Direct Tax ·Delhi High Court · 08 May 2014
   Tax implications of employee secondment contracts explained

   Centrica India Offshore Pvt. Ltd vs. CIT

   (2014) TaxCorp(LJ) 3270 (HC-DELHI)

10. Direct Tax ·Delhi High Court · 09 May 2014
    Assessee is bound to furnish a return in response to a s. 148 notice. The reasons for reopening can be given only thereafter. A writ involving disputed factual issues cannot be entertained

    Adobe Systems Software Ireland Ltd vs. ADIT

    (2014) TaxCorp(LJ) 3269 (HC-DELHI)

11. Direct Tax ·ITAT Bangalore · 04 Apr 2014
    Reopening the assessment u/s 147

    Objectorb Technologies P Ltd vs DCIT

    (2014) TaxCorp(LJ) 3268 (ITAT-BANGALORE) · 147

12. Direct Tax ·Rajasthan High Court · 04 Mar 2014
    Exempt State entertainment tax capitalised as subsidy

    CIT vs Samta Chavigrah

    (2014) TaxCorp(LJ) 3267 (HC-RAJASTHAN)

13. Direct Tax ·Allahabad High Court · 02 May 2014
    assessment order which has been cancelled u/s 263

    CIT vs Late Bhakt Mohan L/H Smt.Urmila Mohan

    (2014) TaxCorp(LJ) 3266 (HC-ALLAHABAD) · 263

14. Direct Tax ·Gujarat High Court · 11 Mar 2014
    Reopening of assessment u/s 148

    N K INDUSTRIES LTD vs INCOME TAX OFFICER (OSD)

    (2014) TaxCorp(LJ) 3265 (HC-GUJARAT)

15. Direct Tax ·ITAT Mumbai · 30 Apr 2014
    Depreciation actually debited to the profit

    Pune Heat Treat P. Ltd. vs ITO

    (2014) TaxCorp(LJ) 3264 (ITAT-MUMBAI)

16. Direct Tax ·Supreme Court · 05 May 2014
    Sale proceeds of the scrap

    Commnr. of Income Tax vs Punjab Stainless Steel Industries

    (2014) TaxCorp(LJ) 3263 (SC) · S. 80HHC

17. Direct Tax ·ITAT Chennai · 23 Sep 2013
    Penalty u/s 271(1)(c)

    ACIT vs Smt R Mahalakshmi

    (2014) TaxCorp(LJ) 3262 (ITAT-CHENNAI) · S. 271(1)(c)

18. Direct Tax ·Supreme Court · 17 Apr 2014
    SC dismissed SLP

    KIRAN DEVI vs CIT

    (2014) TaxCorp(LJ) 3261 (SC) · S. 271(1)(c), 153 C, 139, 148

19. Direct Tax ·ITAT Bangalore · 28 Jan 2014
    supporting evidence in respect of entries in the books of accounts

    Anil Kumar & Co vs Income Tax Officer

    (2014) TaxCorp(LJ) 3260 (ITAT-BANGALORE)

20. Direct Tax ·Gujarat High Court · 31 Mar 2014
    Sections 14A, 80IB, 80P(2), Rule 8D – Provision of section 14A, would have no application in respect of the income not being taxable on account of deduction u/s 80P(2)(d). Ld. CIT(A) and ITAT rightly held that there is no application of section 14A as far as the deduction u/s 80A to 80U under Chapter VIA are concerned.

    CIT vs BANASKANTHA DIST CO-OP MILK PRODUCERS UNION LTD

    (2014) TaxCorp(LJ) 3259 (HC-GUJARAT) · Sections 14A, 80IB, 80P(2), Rule 8D

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