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In the cases of fake invoices both adjudication and prosecution can be started simultaneously.
TEJAS PRAVIN DUGAD
(2021) TaxCorp(LJ) 26046 (HC-BOMBAY) · Section 138(1)
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Even when the income tax department is in appeal before the High Court the assessee can ask for settlement under the Act and if he pays the determined tax amount, the income tax department would be under an obligation to withdraw the appeal.
Chempsec Chemicals P. Ltd. Vs CIT
(2021) TaxCorp(LJ) 26045 (HC-BOMBAY)
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Doctrine of merger applies only in respect of such items which were subject matter of appeal and not in respect of those which were not.
Karnataka Power Corporation Ltd. Vs The ACIT
(2021) TaxCorp(LJ) 26044 (ITAT-BANGALORE) · Section 154
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Income in the nature of interest income on the fixed deposit is required to be exempted u/s 11, as there is no other source of income of the assessee other than doing the charitable activities.
Jhansi Development Authority CommissioneryCompus, Jhansi. Vs DCIT
(2021) TaxCorp(LJ) 26043 (ITAT-AGRA) · Section 11
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As DHS Mumbai makes the payment after deducting TDS and the assessee only reimburses its share of expenses, tax was not required to be deducted again in respect of its reimbursement of share of expenses.
Deloitte Haskins & Sells Vs The ACIT
(2021) TaxCorp(LJ) 26036 (ITAT-DELHI) · Section 40(a)(ia)
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There is no treaty between India and Taiwan, and therefore, FTC should be availed in accordance with section 91.
ITTIAM Systems Pvt. Ltd Vs The ITO
(2021) TaxCorp(LJ) 26035 (ITAT-BANGALORE) · Section 91
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The cost incurred to secure the foreign currency liability against the exchange fluctuation is akin to insurance policies, taken in the course and for the purpose of the business and hence, deductible u/s 37(1).
Deep Industries Ltd. Vs DCIT
(2021) TaxCorp(LJ) 26034 (ITAT-AHMEDABAD) · Section 43A
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CBDT on earlier 3 occasions had granted extension of due-dates considering the evolving situation in the country, but now CBDT cannot delay the filing of audit reports and income tax reports for an indefinite period.
CVO Chartered & CostAccountants’ Association, Mumbai and anr. Vs Union of India and anr.
(2021) TaxCorp(LJ) 26027 (HC-BOMBAY) · Section 119
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Once section 80P(4) is out of harm’s way, all the assessees in the present case are entitled to the benefit of the deduction contained in section 80P(2)(a)(I).
THE MAVILAYI SERVICE COOPERATIVE BANK LTD. & ORS. Vs COMMISSIONER OF INCOME TAX
(2021) TaxCorp(LJ) 26026 (SC) · Section 80P
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CBDT is directed to leniently consider the said representation after giving an opportunity of hearing to the petitioner.
The Dehradun Chartered Accountants Society Vs Union of India
(2021) TaxCorp(LJ) 26019 (HC-UTTARAKHAND)
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The grievance of the petitioner is now within a narrow compass. Matter is with respondent No.5 (CPC) which will intimate the petitioner regarding processing and release of refund the said respondents have admitted that certain amount of refund is due to the petitioner.
TATA Communications Limited Vs Union of India and ors.
(2021) TaxCorp(LJ) 26018 (HC-BOMBAY)
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The assessee is entitled to deduction to the extent provision made in the accounts subject to limit mentioned in Section 36(1)(viia) of the Act.
BANK OF BARODA Vs THE ADDITIONAL COMMISSIONER OF INCOME - TAX & ORS.
(2021) TaxCorp(LJ) 26017 (SC) · Section 36(1)(viia)
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Merely because the investment was considerably large and as noted, several corporate structures were either created or came into play in routing the investment in the assessee through P5AHIML would not be sufficient to brand the transaction as colourable device.
PR. COMMISSIONER OF INCOME TAX 14 Vs M/S. ADITYA BIRLA TELECOM LTD
(2021) TaxCorp(LJ) 26016 (SC) · Section 68
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Since the nature of the assessee’s business itself is to receive deposits, Sec. 269SS was inapplicable.
COMMISSIONER OF INCOME TAX Vs M/S SAHARA INDIA FINANCIAL CORP. LTD.
(2021) TaxCorp(LJ) 26015 (SC) · Section 269SS
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Reopening of assessment beyond 4 years is permitted only if income escapes assessment by way of failure on the part of assessee to disclose all material facts.
PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL III) & ANR. Vs BPTP LIMITED
(2021) TaxCorp(LJ) 26014 (SC)
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Section 36(1)(vii) of the Act mandates that in order to claim bad debts, the assessee has to write off the same in its books and the assessee is not required to prove that the debt is irrecoverable.
Big Bags International (P) Ltd Vs The DCIT
(2021) TaxCorp(LJ) 26013 (HC-KARNATAKA) · Section 36(1)(vii)
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A curative amendment to avoid unintended consequences is to be treated as retrospective in nature even though it may not state so specifically.
Maria Fernandes Cheryl Vs Income Tax Officer
(2021) TaxCorp(LJ) 26012 (ITAT-MUMBAI) · Section 50C
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GAV computed by the AO by ignoring the provisions contained u/s 23(1)(a) of the Act is not sustainable in the eyes of law.
DCIT Vs M/s. Religare Support Limited
(2021) TaxCorp(LJ) 26011 (ITAT-DELHI) · Section 23(1)
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As much as the nexus is required to be between salaries and wages vis-à-vis the employment, the nexus is also required between other similar benefits vis-à-vis the employments.
Unnikrishnan V S Vs Income Tax Officer
(2021) TaxCorp(LJ) 26010 (ITAT-MUMBAI)
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Acquainting someone in a formal manner with techniques to boost sales does not stand at par with rendering marketing services. Simply equipping or enabling the others for doing an activity is a step anterior to rendition of such services.
M/s. Sandvik AB Vs DCIT (IT)
(2021) TaxCorp(LJ) 26009 (ITAT-PUNE)
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