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HC - Revenue warned against filing frivolous appeal. Precious time should not be wasted during covid.
Commissioner of Income Tax Vs M/s.SPL Infrastructure Pvt. Ltd.
(2020) TaxCorp(LJ) 23079 (HC-MADRAS)
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The respondent can have no objection to being held bound by its own averments in the reply/counter affidavit. Consequently, the averments made in the aforesaid paragraphs by the respondent are accepted by this Court and respondent is held bound by the same.
MASTERCARD ASIA PACIFIC PTE. LTD. Vs UNION OF INDIA & ORS.
(2020) TaxCorp(LJ) 23075 (HC-DELHI)
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The assessee could not be said to be Associated Entity of M/s DBPL in terms of Article-10 of the Treaty. Hence, the conclusion drawn by AO, in this regard, could not be sustained as per the Treaty terms.
Next Gen Films Private Ltd. Vs ITO
(2020) TaxCorp(LJ) 23074 (ITAT-MUMBAI)
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The AO was not justified in disallowing the expenses by invoking the provisions of section 40 (a) (ia) of the Act and thus, the order of AO is being set aside.
Peartree Enterprises Pvt. Ltd. Vs DCIT
(2020) TaxCorp(LJ) 23073 (ITAT-DELHI) · Section 40(a)(ia)
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While interpreting the provisions of Section 10(38) of the income tax act we do not find that if the source is excluded or included it will give any other result.
Mr. Nikhil Sawhney Vs ACIT
(2020) TaxCorp(LJ) 23067 (ITAT-DELHI)
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Where the TDS statement had been processed by the CPC and while processing the same, fee u/s 234E had been levied having tax effect less than the prescribed limit, it will continue to be governed by low tax effect circular issued by the CBDT which was binding on the Revenue.
Ajmer Vidhyut Vitran Nigam Ltd. Vs ITO
(2020) TaxCorp(LJ) 23066 (ITAT-JAIPUR) · Section 234E
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The draft order framed u/s 144C(1) of the Act is in the name of a non-existent company and accordingly, void ab initio, making all subsequent proceedings non- est.
BOEING India Pvt. Ltd. Vs The ACIT
(2020) TaxCorp(LJ) 23059 (ITAT-DELHI) · Section 195
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The impugned disallowance of credit of TDS under intimation u/s 143(1) of the Act suffered legal irregularity and cannot be sustained.
AWP ASSISTANCE (INDIA) PVT. LTD. Vs DCIT
(2020) TaxCorp(LJ) 23058 (ITAT-DELHI) · Section 143(1)
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Since no depreciation can be claimed for individual assets under the Block of assets concept under the Income Tax Act. Therefore, depreciation is eligible as per the block of asset.
Agrawal Roadlines Pvt. Ltd. The Dy. CIT
(2020) TaxCorp(LJ) 23057 (ITAT-AHMEDABAD)
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The liability to pay the retirement benefit has arisen based on the demand raised by the NTPC following the direction of DPE guidelines. Therefore the liability is an ascertained liability that has been crystallized and discharged by the assessee during the year and the same could not be named as an uncertain provision.
DCIT Vs NTPC ELECTRICAL SUPPLY COMPANY LTD.
(2020) TaxCorp(LJ) 23056 (ITAT-DELHI)
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In the absence of any allegation by the AO, the Explanation-1 to section 147 cannot be pressed into service.
Assistant Commissioner of Income-tax Vs M/s. Shiv Vegpro Pvt. Ltd.
(2020) TaxCorp(LJ) 23048 (ITAT-JAIPUR)
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The second notice issued u/s 148 of the Act on 29/3/2011 is bad in law and the subsequent proceedings arising therefrom are vitiated.
Johnson & Johnson Private Limited Vs Additional Commissioner of Income Tax
(2020) TaxCorp(LJ) 23047 (ITAT-MUMBAI)
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Since income from business and income from profession falls under the same head, set off of loss from one source of income with another source of income under the same head is allowable as per the provisions of section 70 of the Act.
Vishanji Khimji Karani Vs ACIT
(2020) TaxCorp(LJ) 23046 (ITAT-HYDERABAD)
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If the assessee had failed to raise the factual issue before the AO at the first instance and consciously participated in the proceedings, could not have been permitted to canvass such factual issue for the first time before the Tribunal.
The Commissioner of Income Tax Vs M/s.Tarachanthini Services Pvt. Ltd.
(2020) TaxCorp(LJ) 23045 (HC-MADRAS)
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A purposive interpretation has to be given of provision mentioned in sec.47(v). Otherwise, the provision mentioned in sec.47(v) itself would become redundant.
The Commissioner of Income Tax Vs M/s.Shardlow India Ltd.
(2020) TaxCorp(LJ) 23044 (HC-MADRAS) · Section 47(v)
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Even after non-disclosure, if the documents on record conclusively establish that the receipt did not give rise to any taxable income, it would not be open for the AO to reopen the assessment.
ASSISTANT COMMISSIONER OF INCOME TAX Vs THE SWASTIC SAFE DEPOSIT AND INVESTMENTS LTD.
(2020) TaxCorp(LJ) 23043 (SC)
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The High Court committed manifest error in interfering with and in particular reversing the well considered decision of the first appellate Court, which had justly concluded that document executed between the parties was merely a memorandum of settlement, and it did not require registration.
Ravinder Kaur Grewal & Ors. Vs Manjit Kaur & Ors.
(2020) TaxCorp(LJ) 23031 (SC)
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By raising the loans against the FDR and not encashing prematurely the assessee saved the interest and also kept the income earning apparatus intact, therefore the disallowance made by the AO and sustained by the CIT (A) was not justified particularly when the assessee had shown the income under the head income from other sources and not the business income.
Anjana Vinayak Vs The ITO
(2020) TaxCorp(LJ) 23030 (ITAT-CHANDIGARH) · Section 57(iii)
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Income is recognised when it is earned or realised irrespective of whether it is in cash or kind if the shares are exchanged, it can be said the assessee has made realisation of the value of the shares and the difference in the price of the shares would have to be treated as profit of the assessee for the taxation purpose.
THE COMMISSIONER OF INCOME TAX-V Vs M/S NALWA INVESTMENT LTD.
(2020) TaxCorp(LJ) 23023 (HC-DELHI) · Section 2(47)
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The exercise of withholding of refund under section 241A of the Act, pursuant to notice u/s 143(2) of the Act, without recording justifiable reasons, is not in consonance with the legislative intent and mandate of the aforesaid provision.
COONER INSTITUTE OF HEALTH CARE AND RESEARCH CENTRE PVT. LTD. Vs INCOME TAX OFFICER
(2020) TaxCorp(LJ) 23016 (HC-DELHI) · Section 241A
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