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ITAT - Revisionary order u/s 263 on the basis that assessment was finalised without DVO's report is valid.
Mallikarjuna B. Gundur Vs The Principal Commissioner of Income Tax
(2021) TaxCorp(LJ) 27101 (ITAT-BANGALORE) · Section 263
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ITAT - Quasi-Judicial Authorities are required to substantiate every addition made with proper reasoning and that reason should come out from the orders of the authorities itself as such ad hoc disallowance of commission to technically skilled liaison representatives is not justified.
Cooper Corporation Pvt. Ltd. Vs The Assistant Commissioner of Income Tax
(2021) TaxCorp(LJ) 27100 (ITAT-PUNE)
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ITAT - Formation of view by Commissioner u/s 263 should be in a reasonable manner and if the AO has taken a prudent, judicious and reasonable view, then his order cannot be termed as erroneous in so far as prejudicial to the interest of revenue.
Smt. Krishna Vs The Pr. CIT
(2021) TaxCorp(LJ) 27099 (ITAT-JAIPUR)
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If there is a difference in the value of the property as determined by the assessee and the SRO value, the AO is bound to refer the matter to the DVO and the assessment should be done on the basis of DVO report.
CHANDRA LOK HOTELS LTD., HYDERABAD. VERSUS DY. COMMISSIONER OF INCOME-TAX, CIRCLE – 1 (2), HYDERABAD.
(2021) TaxCorp(LJ) 27098 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=91618&Category=ITAT&CategoryType=Zip
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Assessee is not entitled for complete relief on the interest payable u/s 234B.
SURESH CHANDRA PURWAR (HUF) VERSUS THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1 ALLAHABAD
(2021) TaxCorp(LJ) 27097 (ITAT-ALLAHABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=91621&Category=ITAT&CategoryType=Zip
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Assessee is entitled for deduction of ESOP expenses when the rights are vested in the hands of the assessee.
M/S. NORTHERN OPERATING SERVICES PVT. LTD. VERSUS JCIT SPECIAL RANGE-5 BENGALURU
(2021) TaxCorp(LJ) 27096 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=91625&Category=ITAT&CategoryType=Zip
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The decision to purchase the lands from the Directors at excessive rate was a prudent commercial decision taken by the assessee company.
COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, CHENNAI. VERSUS M/S. ADITYARAM PROPERTIES (P) LTD.
(2021) TaxCorp(LJ) 27095 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=85484&Category=Judgment&CategoryType=Zip
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We find merit in the contention of the Ld. Counsel for the assessee that the additional grounds raised by the assessee before Ld. CIT(A) were wrongly refused to be admitted by him.
SHRI LALIT JAIN, SMT. JYOTI JAIN VERSUS THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-4 (1), CHANDIGARH
(2021) TaxCorp(LJ) 27082 (ITAT-CHANDIGARH) · https://taxcorp.in/FileOpenDT.aspx?ID=91538&Category=ITAT&CategoryType=Zip
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There is no infirmity or error in the order of the Learned CIT(A) on the issue in dispute of deduction under section 10B
DCIT, CIRCLE-2, GURGAON VERSUS SH. LALIT WADHWA
(2021) TaxCorp(LJ) 27081 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=91540&Category=ITAT&CategoryType=Zip
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The Dispute Resolution Panel has no power to enhance based on the variations which were not identifiable in the Draft Assessment Order.
M/S DELPHI-TVS DIESEL SYSTEMS LIMITED VERSUS ITO (OSD) / SECRETARY DISPUTE RESOLUTION PANEL - 2, ASSISTANT COMMISSIONER OF INCOME-TAX (OSD), DEPUTY COMMISSIONER OF INCOME-TAX - 1 (2), CHENNAI
(2021) TaxCorp(LJ) 27080 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=85458&Category=Judgment&CategoryType=Zip
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There is no bar to entertain the writ petition when alternative remedy is available if it is the case that the order passed by the concerned authority is prejudicially affecting their rights or interest.
DEPUTY COMMISSIONER OF INCOME TAX, ASSISTANT COMMISSIONER OF INCOME TAX (OSD) VERSUS M/S. DAIMLER INDIA COMMERCIAL VEHICLES PRIVATE LTD.
(2021) TaxCorp(LJ) 27079 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=85459&Category=Judgment&CategoryType=Zip
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The claim of the assessee cannot be denied on technicalities when the assessee is legally otherwise entitled for deduction.
M/S. HI-TECH SWEET WATER TECHNOLOGY PVT. LTD. VERSUS THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, SURAT.
(2021) TaxCorp(LJ) 27072 (ITAT-SURAT) · https://taxcorp.in/FileOpenDT.aspx?ID=91490&Category=ITAT&CategoryType=Zip
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MMC Bank was sick bank and the amount of FDs deposited by the assessee-bank with MMC Bank has not received by the assessee bank.
ACIT, SABARKANTHA CIR. HIMATNAGAR. VERSUS THE HIMATNAGAR NAGRIK SAHKARI BANK LTD.
(2021) TaxCorp(LJ) 27071 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=91492&Category=ITAT&CategoryType=Zip
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Prosecution need not be initiated for an offence under section 276C(2), if the aggregate amount of tax interest and penalty involved is less than ₹ 10,000.
NARENDRAKUMAR VALJI PATEL VERSUS INCOME TAX DEPARTMENT WARD-I, GOKAK
(2021) TaxCorp(LJ) 27070 (HC-KARNATAKA) · https://taxcorp.in/FileOpenDT.aspx?ID=85444&Category=Judgment&CategoryType=Zip
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Undertaking should not be formed by splitting up or the reconstruction of a business already in existence.
SUNDARAM NON-CONVENTIONAL ENERGY SYSTEMS LIMITED VERSUS THE ASSISTANT COMMISSIONER OF INCOME TAX, COMPANY CIRCLE VI (4), CHENNAI
(2021) TaxCorp(LJ) 27069 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=85447&Category=Judgment&CategoryType=Zip
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TPO is directed to allow working capital adjustment to the assessee.
ADDL. CIT, SPECIAL RANGE-8, NEW DELHI. VERSUS ST MICRO ELECTRONICS PVT. LTD. AND (VICE-VERSA)
(2021) TaxCorp(LJ) 27060 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=91415&Category=ITAT&CategoryType=Zip
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Deduction u/s 10AA in respect of an eligible undertaking to be allowed on standalone basis.
ASST. COMMISSIONER OF INCOME TAX-10 (1) (1) MUMBAI, DY. COMMISSIONER OF INCOME TAX-10 (1) (1) MUMBAI VERSUS M/S. INDOFIL INDUSTRIES LTD.
(2021) TaxCorp(LJ) 27059 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=91416&Category=ITAT&CategoryType=Zip
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A.O is directed to determine the taxability of the interest income as per the special rate of tax on the basis of India-USA tax treaty.
HARESH C SHETH C/O. C-501, ASHOK GARDENS, MUMBAI VERSUS INCOME TAX OFFICER (IT) – 4 (2) (1); MUMBAI
(2021) TaxCorp(LJ) 27058 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=91422&Category=ITAT&CategoryType=Zip
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There is no question for treating the amount of share capital received by the assessee as unexplained cash credit under section 68
M/S. CALICA RESOURCES PVT. LTD. VERSUS I.T.O., WARD-1 (1) (3), AHMEDABAD. AND (VICE-VERSA)
(2021) TaxCorp(LJ) 27057 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=91428&Category=ITAT&CategoryType=Zip
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Merely because the assessee entered into franchise agreement with ZLL will not made the activity of the assessee non charitable.
M/S. SANT SHRI MAHESH MUNI JI BOREWALE EDUCTIONAL WELFARE SOCIETY VERSUS CIT (EXMP.) CHANDIGARH
(2021) TaxCorp(LJ) 27048 (ITAT-AMRITSAR) · https://taxcorp.in/FileOpenDT.aspx?ID=91347&Category=ITAT&CategoryType=Zip
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