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The CIT(A) has rightly upheld the disallowance made by the A.O. in respect of the claim made by the assessee for deduction of annual of mixed use charges paid by the assessee to Municipal Corporation of Delhi, in respect of the property of the Assessee.
AMAR CHAND GARG VERSUS ACIT, CIRCLE 35 (1) NEW DELHI
(2022) TaxCorp(LJ) 28528 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95954&Category=ITAT&CategoryType=Zip
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Rejection of RPM method adopted by the assessee was incorrect, and learned CIT(A) has rightly reversed the said action.
DIESEL FASHION INDIA RELIANCE PVT. LTD. VERSUS ASSISTANT COMMISSIONER OF INCOME TAX, 3 (1) (1) MUMBAI, DEPUTY COMMISSIONER OF INCOME TAX, 3 (1) (1) MUMBAI
(2022) TaxCorp(LJ) 28527 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=95956&Category=ITAT&CategoryType=Zip
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The fact that the debt is outstanding for a long time without any payment cannot be the basis to come to a conclusion that the said debt ceased to exist. We, therefore, confirm the order of the CIT(A).
DCIT, CIRCLE – 1 (1) (2) , BENGALURU. VERSUS M/S. BPL LTD.
(2022) TaxCorp(LJ) 28526 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=95958&Category=ITAT&CategoryType=Zip
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Unless funds are borrowed for making deposit to earn interest income, such interest paid on borrowings cannot be allowed as deduction in the computation of income from other sources, which in this case, is interest earned from mutual funds.
Anirudh Murthy Ranga Vs The Principal Commissioner of Income Tax
(2022) TaxCorp(LJ) 28525 (ITAT-BANGALORE)
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Transponder charges paid to non-residents was not taxable as royalty.
Viacom 18 Media Private Limited Vs The Asst. Commissioner of Income Tax
(2022) TaxCorp(LJ) 28524 (ITAT-MUMBAI)
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Collection of annual mixed use charges would not make any difference in the annual let out value of the property and thus, the same was not allowable as per the proviso to Section 23(1).
Amar Chand Garg Vs ACIT
(2022) TaxCorp(LJ) 28523 (ITAT-DELHI) · Section 23(1)
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No tax was deducted on such payments which made the payment suspicious and no independent enquiries have been made to verify wages payable being old one.
Ashwani Marwah Vs Pr. Commissioner of Income Tax
(2022) TaxCorp(LJ) 28522 (ITAT-CHANDIGARH)
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When an assessment framed by the ld. AO is unsustainable in the eyes of law, the said invalid and illegal order cannot be subject matter of section 263 proceedings.
Aishwarya Rai Bachchan Vs The Pr. CIT-8
(2022) TaxCorp(LJ) 28521 (ITAT-MUMBAI)
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Rate of tax provided in the tax treaty cannot be enhanced by including surcharge and education cess separately.
Renaissance Services BV Vs Deputy Director of Income Tax (International Taxation)-2(1)
(2022) TaxCorp(LJ) 28520 (ITAT-MUMBAI)
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Change in opinion cannot constitute reason to believe.
Mangalore Refinery and Petrochemicals Limited Vs The Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 28519 (HC-BOMBAY)
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The assessment order is required to be quashed and set aside.
Hactom Agro Pvt Ltd Vs National E Asesment Centre & ors
(2022) TaxCorp(LJ) 28518 (HC-BOMBAY)
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Unless the write off takes place at the time of finalisation of account and reflected in the books of account, it cannot be treated as write of at all.
Avijit Dewanjee Vs The Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 28517 (ITAT-BANGALORE)
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No proper books of account were maintained till the date of survey. The entire exercise of preparing the alleged audited books was nothing but an afterthought of the Assessee.
Bajarang Developers Vs The Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 28516 (ITAT-SURAT)
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The payment has been made by the assessee under protest. Therefore, the amount is definitely a disputed liability and cannot be said that the liability has crystallized/accrued to the assessee during the relevant assessment year.
M/S I.G. PETROCHEMICALS LIMITED VERSUS THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE (3) (1) (1) BENGALURU
(2022) TaxCorp(LJ) 28514 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=95919&Category=ITAT&CategoryType=Zip
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The AO is not right in adding back the provisions made by the assessee towards gratuity, leave encashment and bonus for computation of book profits u/s. 115JB on the ground that they are unascertained liability.
JEANS KNIT PVT. LTD. VERSUS THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-4 (1) (1) BENGALURU
(2022) TaxCorp(LJ) 28513 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=95920&Category=ITAT&CategoryType=Zip
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The Assessee, despite the availability of statutory appeal, chose to invoke Section 264 against the assessment order although at the time of filing the revision application there was no bar of limitation to file the appeal.
Unisource Hydro Carbon Services Private Limited & Anr Vs Union of India & Ors.
(2022) TaxCorp(LJ) 28512 (HC-CALCUTTA)
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There are other multiple factors which are strongly suggesting that the amount of loan was not recoverable, particularly, in the situations where the subsidiary company was incurring losses from the operations.
Torrent Pharmaceuticals Ltd Vs ACIT
(2022) TaxCorp(LJ) 28511 (ITAT-AHMEDABAD) · Sections 80HHC, 115JB
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Transfer of land specified as agricultural land in revenue records could not be considered as transfer of capital asset or transaction leading to business income.
D. Dasappa Vs The Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 28510 (ITAT-BANGALORE)
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The Assessing Officer cannot substitute his own value in place of the value determined either on DCF method or NAV method
INTELLIGRAPE SOFTWARE PVT. LTD. VERSUS DCIT, CIRCLE-12 (2) , NEW DELHI
(2022) TaxCorp(LJ) 28509 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95904&Category=ITAT&CategoryType=Zip
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The notice issued u/s 148 by the AO was illegal, and void abinitio.
SH. KEWAL SINGH VERSUS INCOME TAX OFFICER, WARD 4 (3) , AMRITSAR
(2022) TaxCorp(LJ) 28508 (ITAT-AMRITSAR) · https://taxcorp.in/FileOpenDT.aspx?ID=95910&Category=ITAT&CategoryType=Zip
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