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Provident Fund – Interest on belated remittance - In the present case, it is manifest from the record that the appellant had already deposited a sum of Rs.34,00,000/- before the Competent Authority and sought for supply of the calculation sheet the basis on which the computation had been made so that it could reconcile the accounts. We think it appropriate to direct that the computation sheets shall be provided to the appellant within three weeks and it shall file its objection within two weeks therefrom and thereafter the Competent Authority shall fix a date for reconciliation of the accounts.
Arcot Textile Mills Ltd vs The Regional Provident Fund Commissioner and others
(2013) TaxCorp(LJ) 2279 (SC)
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Tribunal has no power to dismiss appeal for non-appearance of appellant. It has to deal with the merits. An application for recall of an ex-parte dismissal order is under s. 254(2) & must be filed within 4 years from the date of the order. The Tribunal must permit “mentioning” of matters
Bharat Petroleum Corporation Limited vs ITAT & Ors
(2013) TaxCorp(LJ) 2278 (HC-BOMBAY) · Income Tax Section 254(2)
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S. 80P(2)(a)(i), 271(1)(C) - Penalty is leviable even if the assessee has adequately made the disclosure of particulars in the return of income.
APEX URBAN CO-OP BANK OF MAHARASHTRA & GOA LTD Vs ITO
(2013) TaxCorp(LJ) 2277 (ITAT-MUMBAI) · Income tax Section 80P(2)(a)(i), 271(1)(C)
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The transaction of transferring the shares of the group companies at low price causing long term capital loss and sale of shares of at high price, making short term capital gains, thereby setting off the short term capital gains against the long term capital loss, is not colourable device to evade tax.
CIT vs Hede Consultancy Company Pvt. Ltd
(2013) TaxCorp(LJ) 2276 (HC-BOMBAY)
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HC conforms ITAT ruling - Explanation (baa) to section 80HHC. Profit incentives and items such as rent, commission, brokerage charges etc., though they form part of the gross total income have to be excluded as they are “independent incomes” which have no element of export turnover.
Damodar Mangalji Mining Co vs Jt. Commissioner of Income Tax
(2013) TaxCorp(LJ) 2275 (HC-BOMBAY) · Explanation (baa) to section 80HHC
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VCES - Service Tax - High Court releasing the attachment of bank accounts
Verchaska Infotech private Ltd vs Union of India and ors
(2013) TaxCorp(LJ) 2274 (HC-BOMBAY)
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VCES - Service Tax - High Court releasing the attachment of bank accounts
Verchaska Infotech private Ltd vs Union of India and ors
(2013) TaxCorp(LJ) 2273 (ITAT-MUMBAI)
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Penalty imposable despite voluntary surrender, Disclosure to Buy peace of mind not relevant
MAK Data P. Ltd. Versus Commissioner of Income Tax-II
(2013) TaxCorp(LJ) 2272 (SC)
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Disallowance U/s. 40(a)(ia) cannot be made if TDS paid before due date of filing return as described in s. 139(1)
M/s.Pratibha JV Vs. The DCIT
(2013) TaxCorp(LJ) 2271 (ITAT-MUMBAI)
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S. 40(a)(ia), 201: The assessee is liable to deduct tax at source on interest payments, even if it has not claimed the same as deduction while computing its total income, the revenue is entitled to initiate proceedings u/s 201 of the Act for such failure.
AGREENCO FIBRE FOAM (P) LTD vs ITO
(2013) TaxCorp(LJ) 2270 (ITAT-COCHIN) · Income Tax Sections 40(a)(ia), 147, 194A & 201
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Allows filing of revised return during scrutiny/ assessment.
CIT vs AXA BUSINESS SERVICES PVT LTD
(2013) TaxCorp(LJ) 2269 (HC-KARNATAKA)
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S. 12AA, 2(15) - Charitable purpose - General public utility - investor protection fund (public object) - private club (not public object)
Inter-connected Stock Exchange, Investors Protection Fund (ISE IPF) vs DIT (Exemption)
(2013) TaxCorp(LJ) 2268 (ITAT-MUMBAI) · Income Tax Section 12AA, 2(15)
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Donation received towards corpus of the Trust not to form part of income - Voluntary contributions received by the society of employees cannot be treated as income or trading receipt within the meaning of section 2(24), it cannot be said that the income of the assessee escaped assessment. Resultantly jurisdiction under section 147 was not correctly assumed.
PENTAFOUR SOFTWARE EMPLOYEES, WELFARE FOUNDATION vs ACIT
(2013) TaxCorp(LJ) 2267 (ITAT-CHENNAI) · Income Tax Section 2(24), 147
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Suspicious grounds cannot be basis to deny 12AA registration
Commissioner of Income Tax vs Baba Kartar Singh Dukki Educational Trust
(2013) TaxCorp(LJ) 2266 (HC-P&H) · Income Tax Section 12AA
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Sums received by co-operative society, by way of transfer fee and TDR premium is taxable.
Hatkesh Co.op. Hsg. Soc. Ltd. vs Asst. CIT
(2013) TaxCorp(LJ) 2265 (ITAT-MUMBAI) · Income Tax Section 2(24)(v) r.w s. 28(iii)
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Powers of ITAT vide section 151 Civil procedure code (CPC) to direct refund of taxes collected in violation of existing demand stay order (restitution to be done by ITAT to ensure Its orders are not flouted with 'impunity'.
Deputy Commissioner of Income Tax vs The ITAT
(2013) TaxCorp(LJ) 2264 (HC-P&H)
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HC orders Co-Op Registrar to Prepare new panel of Auditors / Audit Firms : HC
Santosh Ganesh Avhad Versus The Cooperation Commissioner and the Registrar of Co-operatives & Anr
(2013) TaxCorp(LJ) 2263 (HC-BOMBAY)
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Muktar Minerals Pvt. Ltd. vs ACIT
(2013) TaxCorp(LJ) 2262 (ITAT-PANAJI) · Income Tax Section 139(5)
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Shree Bhavani Minerals vs Commissioner of Income Tax
(2013) TaxCorp(LJ) 2261 (ITAT-PANAJI) · Income Tax Section 10B
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Shree Bhavani Minerals vs Commissioner of Income Tax
(2013) TaxCorp(LJ) 2260 (ITAT-PANAJI) · Income Tax Section 10B
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