-
Capital gains is applicable transfer under development agreement, however assessee entitled to claim S. 54/54F exemption with regards to investments/cost of construction.
DCIT vs Mr. Jai Trikanand Rao
(2013) TaxCorp(LJ) 2379 (ITAT-MUMBAI) · Income Tax Section 50C, 54, 54F
-
Expenditure on acquiring master copy of software subject to obsolescence is deductible as revenue expenditure
ORACLE INDIA PRIVATE LIMITED Vs COMMISSIONER OF INCOME TAX
(2013) TaxCorp(LJ) 2378 (HC-DELHI) · Income Tax Section 37(1)
-
HC upheld the order passed by Ld. CIT(A), learned First Appellate Authority on the basis of the material which was placed before it has come to the considered finding that the second unit was a separate unit and not expansion of existing unit.
Commissioner of Income Tax VS Alcon Cement Co. Ltd
(2013) TaxCorp(LJ) 2377 (HC-BOMBAY)
-
High Court verdict in Bharat Ruia 337 ITR 452 (Bom) on taxation of derivatives as speculation income/ loss is not applicable to FIIs
Platinum Asset Management Ltd vs DDIT (International Taxation)
(2013) TaxCorp(LJ) 2376 (ITAT-MUMBAI) · Income Tax Section 115AD
-
Provisions of section 2(22)(e) does not apply in respect of business transactions.
Dy. Commissioner of Income Tax vs Chariot International (P) Ltd
(2013) TaxCorp(LJ) 2375 (ITAT-BANGALORE) · Income Tax Section 2(22)(e)
-
Income from sale of shares taxable as capital gains and not as business income
Dy. Commissioner of Income vs Kapur Investments
(2013) TaxCorp(LJ) 2374 (ITAT-BANGALORE) · Income Tax Section 43(5)
-
Rental income from fit outs and maintenance charges from an Industrial park is taxable as business income and not as income from other sources.
Kirloskar Systems Ltd vs ACIT
(2013) TaxCorp(LJ) 2373 (ITAT-BANGALORE)
-
S. 10A - Conditions of splitting up and reconstruction cannot be examined in a subsequent year, mere fact that old unit is closed and employees are transferred from old unit to new unit does not lead to the conclusion that the new unit is formed by splitting up and reconstruction.
Changepond Technologies P. Ltd vs ACIT
(2013) TaxCorp(LJ) 2372 (ITAT-CHENNAI) · Income Tax Section 10A
-
Refund of seized money - Interest - Assessee is entitled to interest on cash appropriated during search even if refund is directed in appeal proceedings
CHIRONJILAL SHARMA HUF vs UNION OF INDIA AND OTHERS
(2013) TaxCorp(LJ) 2371 (SC) · Income Tax Section 132B(4)(b), 240, 244A
-
HC explained SC recent ruling Mak Data reported in (2013) 7 TaxCorp (DT) 55866 (SC) were its was held that Surrender of income is not voluntary. HC held Onus which shifted on the department has not been discharged. If the department did not agree with the explanation, then the onus was on the department to prove that there was concealment of particulars of income or furnishing inaccurate particulars of income.
Commissioner of Income Tax vs M/s. Gem Granites (Karnataka)
(2013) TaxCorp(LJ) 2370 (HC-MADRAS) · Income Tax Section 271(1)(c), 132
-
Subsequent to HC ruling in CIT vs M/s. Gem Granites now another HC explained SC ruling in MAK Data. High court held were there was malafide intention on furnishing false particulars, penalty rightly leviable.
U.P.Matsya Vikas Nigam Ltd. vs Commissioner Of Income Tax
(2013) TaxCorp(LJ) 2369 (HC-ALLAHABAD) · Income Tax Section 271(1)(c)
-
Sufficient cause not a license to file belated appeal and to get the delay condoned
Prashant Projects Limited V/s. DCIT
(2013) TaxCorp(LJ) 2368 (ITAT-MUMBAI)
-
Onus Shifts on A.O. after assessee discharges onus cast on him by a cogent explanation
Commissioner of Income Tax, vs M/s.Gem Granites (Karnataka)
(2013) TaxCorp(LJ) 2367 (HC-MADRAS)
-
Assessee eligible for interest on cash appropriated during search
CHIRONJILAL SHARMA HUF Versus UNION OF INDIA AND OTHERS
(2013) TaxCorp(LJ) 2366 (SC)
-
FII cannot have business profits – Derivatives income not taxable as speculation income to FIIs
Platinum Asset Management Ltd. Vs. Dy. Director of Income Tax (International Taxation)
(2013) TaxCorp(LJ) 2365 (ITAT-MUMBAI)
-
Mobilisation advances constitute business income or not - The interest earned by the assessee from bank deposits, treasury deposits and mobilization advances cannot be considered as profits or gains derived from the eligible business and further the said interest income is liable to be assessed under the head Income from other sources. Hence the assessee is not entitled to claim deduction u/s 80IA of the Act on the said interest income.
ACIT vs Roads and Bridges Development Corporation of Kerala Ltd
(2013) TaxCorp(LJ) 2364 (ITAT-COCHIN) · Income Tax Section 80IA
-
Once application for admission u/s 245C is filed , it must be dealt with in accordance with law
MARC BATHING LUXURIES LTD., MARC SANITATION PRIVATE LTD. versus INCOME TAX SETTLEMENT COMMISSION & ANR.
(2013) TaxCorp(LJ) 2363 (HC-DELHI)
-
S. 244A Department not obliged to pay interest on interest as same is not provided in the law
Commissioner of Income Tax, Gujarat Versus Gujarat Fluoro Chemicals
(2013) TaxCorp(LJ) 2362 (SC)
-
In case of Part Payment Income tax paid shall first be adjusted towards interest payable
INDIA TRADE PROMOTION ORGANISATION versus COMMISSIONER OF INCOME TAX
(2013) TaxCorp(LJ) 2361 (HC-DELHI) · Income Tax - Section 260A
-
Receipt of Arrears by lawyer who stopped his practice on being elevated as judge not taxable
ITO Vs. Justice Rajiv Shakdher
(2013) TaxCorp(LJ) 2360 (ITAT-DELHI)
Headnote lines are open to everyone. The full headnote and the judgment text open with a subscription — see plans or sign in.