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Appeals filed by the Revenue is covered under CBDT Circular No. 3/2018 without any exception as provided under clause 10(a) of the said circular and thus, appeals filed by the Revenue in all these cases are not maintainable.
Madurai District Central Cooperative Bank Ltd Vs The Income Tax Officer
(2022) TaxCorp(LJ) 29638 (ITAT-CHENNAI)
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The Revenue has power to assess not only the undisclosed income, which was found during the search operation but also with regard to the material that was available at the time of the original assessment.
Shri Mehndipur Balaji Vs Pr Commissioner Of Income Tax
(2022) TaxCorp(LJ) 29631 (HC-ALLAHABAD)
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Provisions of section 56(2)(viib) apply to conversion of completely convertible debentures into equity shares.
Milk Mantra Dairy Pvt. Ltd Vs DCIT
(2022) TaxCorp(LJ) 29630 (ITAT-KOLKATA) · Section 56(2)(viib)
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The bottles and crates used for bottling the soft drinks manufactured by the assessee fall within the definition of Plant contained in section 43(3).
Parle Bisleri Private Limited Vs The Deputy Commissioner of Income-Tax
(2022) TaxCorp(LJ) 29625 (HC-BOMBAY)
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CIT(A) order granting the benefit of set-off of brought forward business losses to assessee is perfunctory and without looking into the objects behind the enactment of provisions of section 72A which renders the order illegal and unreasonable.
Cummins Sales & Services (I) Ltd. (Formerly known as Cummins Diesels Sales & Services Ltd.) Vs DCIT
(2022) TaxCorp(LJ) 29624 (ITAT-PUNE)
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A mistake apparent from record shall be an obvious and patent one and not which needs a long-drawn process of reasoning with conceivably two opinions and an order on a debatable point of law is not a mistake apparent from the record.
Intelenet Global Services Pvt. Ltd Vs ACIT
(2022) TaxCorp(LJ) 29621 (ITAT-MUMBAI)
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Prize winnings from lotteries would get taxed u/s 2(24)(ix) r/w Sec. 56(2)(ib) in the hands of a consumer who is just holding the lottery ticket and participates in the draw and not on the dealer of lottery tickets.
Pooja Marketing Vs Pr. CIT-31
(2022) TaxCorp(LJ) 29620 (ITAT-MUMBAI) · Sections 71, 115BB
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Merely because a particular receipt, which is in the capital field, had been offered to tax by the assessee voluntarily in the return of income while computing book profits u/s 115JB of the Act, it cannot be brought to tax merely on that ground.
Batliboi Limited Vs Dy.CIT
(2022) TaxCorp(LJ) 29619 (ITAT-MUMBAI)
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In the absence of declaration of applicant that receipt of offshore services were not offered to tax, a specific question is respect of offshore services cannot be raised.
Whessoe Engineering Limited Vs CIT (IT)
(2022) TaxCorp(LJ) 29618 (AAR) · Sections 245R(2), 142(1)
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Revenue is directed to maintain status quo on adjustment of pending refunds against outstanding demand in the interim.
Tata Steel Limited Vs ACIT
(2022) TaxCorp(LJ) 29617 (ITAT-MUMBAI)
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Taking into consideration the above factual position in the present case, we grant the extension of stay of demand for a further period of 180 days from the date of this order or till the disposal of present appeal, whichever is earlier.
Sony Pictures Networks India Private Limited Vs Asstt. Commissioner of Income Tax
(2022) TaxCorp(LJ) 29616 (ITAT-MUMBAI)
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If the assessee could not furnish the evidences during the assessment proceedings then it does not preclude the assessee to furnish those evidences to substantiate its claim during the course of penalty.
Giesecke & Dverient India Pvt. Ltd Vs DCIT
(2022) TaxCorp(LJ) 29615 (ITAT-DELHI) · Section 271(1)(c)
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Where only money value of partner’s interest in the firm is paid and no specific asset is distributed to the outgoing partner, section 45(4) is not applicable.
M/s. Thirumala Rice Industries Vs Asst. Commissioner of Income Tax
(2022) TaxCorp(LJ) 29614 (ITAT-BANGALORE) · Section 45(4)
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The moment an officer ceases to hold his office he becomes functus officio.
GMR Energy Limited Vs DCIT
(2022) TaxCorp(LJ) 29613 (ITAT-BANGALORE)
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U/s 292C documents found in possession of person is presumed to belong to such person.
Raju P. Mehta Vs The DCIT
(2022) TaxCorp(LJ) 29612 (ITAT-CHENNAI)
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The reason recorded by non jurisdictional Assessing Officer cannot give jurisdiction to the present Assessing Officer.
G.K. Business Centre (P) Ltd. Vs ITO
(2022) TaxCorp(LJ) 29603 (ITAT-DELHI)
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The amount transferred by the domestic broker as reinsurance premium to the correspondent overseas broker is not the income of the overseas broker therefore, no tax is required to be deducted at source for such remittances.
International Reinsurance and Insurance Consultancy & Broking Services Pvt. Ltd Vs ITO(IT)-2(2)(2)
(2022) TaxCorp(LJ) 29595 (ITAT-MUMBAI)
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Expenditure incurred in ordinary course of business on upgradation, improvement, removal of glitches of existing or already developed software to improve its product is to be treated as revenue expenditure.
Claridge Hotels Pvt. Ltd Vs DCIT
(2022) TaxCorp(LJ) 29594 (ITAT-DELHI)
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Payment made for discharge of punishment for violation of prohibited acts and/or restriction(s) imposed under the provisions of law, cannot be considered as compensatory in nature and sustains the addition.
Akshay Khetterpal Vs ACIT
(2022) TaxCorp(LJ) 29593 (ITAT-DELHI) · Section 37(1)
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The demand shall remain in abeyance till the disposal of the appeal scheduled for hearing on March 31, 2021.
India Power Corporation Limited & Anr Vs THE PRINCIPAL COMMISSIONER OF INCOME TAX
(2022) TaxCorp(LJ) 29592 (SC)
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