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(i) The sweeping proposition in some Supreme Court decisions that when two views are possible, the one favourable to assessee has to be preferred & that a tax incentive provision must receive liberal interpretation, is disapproved by the Constitution Bench in Dilip Kumar (2018) 9 SCC 1 (FB). The burden is on the assessee to prove eligibility to an incentive or exemption provision and it is subject to strict interpretation.
Ramnath & Co vs. CIT
(2020) TaxCorp(LJ) 22650 (SC) · https://taxcorp.in/FileOpenDT.aspx?ID=83564&Category=ITAT&CategoryType=Zip
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(i) The sweeping proposition in some Supreme Court decisions that when two views are possible, the one favourable to assessee has to be preferred & that a tax incentive provision must receive liberal interpretation, is disapproved by the Constitution Bench in Dilip Kumar (2018) 9 SCC 1 (FB). The burden is on the assessee to prove eligibility to an incentive or exemption provision and it is subject to strict interpretation. If there is ambiguity, the benefit of the ambiguity has to go to the Revenue. However, if the assessee proves eligibility, a wide and liberal construction of the provision has to be done (ii) Merely having a contract with a foreign enterprise and mere earning foreign exchange does not ipso facto lead to the application of s. 80-O of the Act (All judgements considered in detail)
Ramnath & Co vs. CIT
(2020) TaxCorp(LJ) 22649 (SC) · https://taxcorp.in/FileOpenDT.aspx?ID=83564&Category=ITAT&CategoryType=Zip
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The profit of the undertaking should be computed independently before adjusting any carried forward business. The profit thus arrived should be given benefit under eligible sections 10A/10B of the Act even though the assessee has had unabsorbed business loss of previous years besides not commenting on the unabsorbed depreciation.
THE INCOME TAX OFFICER, CORPORATE WARD 4 (1) , CHENNAI VERSUS M/S. MEDUSA SERVICES PVT. LTD.
(2020) TaxCorp(LJ) 22648 (ITAT-CHENNAI) · https://taxcorp.in/FileOpenDT.aspx?ID=83523&Category=ITAT&CategoryType=Zip
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There is no dispute that the seller of the share is a resident of Cyprus, holding necessary tax residency certificate, therefore, the recipient of the income is entitled to take the benefit of the Double Taxation Avoidance Agreement between India and Cyprus. AO and the assessee both agree that under the Indian income tax act, the transaction is taxable in India by virtue of the provisions of section 5 (2) and 9, but taxability is to be determined as per DTAA.
DCIT, CIRCLE-17 (2) , NEW DELHI VERSUS NARMIL INFOSOLUTIONS PVT. LTD, C/O AAR & ASSOCIATES, CA
(2020) TaxCorp(LJ) 22647 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=83524&Category=ITAT&CategoryType=Zip
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Basic requirements of section 68 have been discharged by the assessee by furnishing the relevant evidences. The evidences which were furnished by the assessee were confirmation letters of the partners, copies of I.T.Returns, PAN Nos, and income declared. By furnishing the above, the preliminary onus was discharged by the assessee. There is no dispute to the fact that all the partners have owned the introduction of capital in assessee's firm. The AO has not challenged the correctness of the evidences filed by the assessee.
R.N. SAHOO AND OTHERS VERSUS DCIT, CIRCLE 4 (1) , BHUBANESWAR.
(2020) TaxCorp(LJ) 22646 (ITAT-CUTTACK) · https://taxcorp.in/FileOpenDT.aspx?ID=83528&Category=ITAT&CategoryType=Zip
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The statement of facts submitted by the assessee before the CIT(A) that the assessee is obtaining loan from Government for attaining the objects.
M/S ORISSA STATE CO-OPERATIVE HANDICRAFTS CORPORATION LIMITED VERSUS ITO WARDD-4 (1) , BHUBANESWAR
(2020) TaxCorp(LJ) 22645 (ITAT-CUTTACK) · https://taxcorp.in/FileOpenDT.aspx?ID=83529&Category=ITAT&CategoryType=Zip
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As relying on BHARTI AIRTEL LTD. AND OTHERS assessee is not required to deduct tax under section 194H of the Act on the prepaid SIM Cards and hence, the assessee is not in default as per provisions of section 201(1) of the Act. This issue is squarely covered in favour of the assessee by the judgment of Hon’ble Delhi High Court in the case of Bharti Cellular Ltd and respectfully following the same, we hold that the assessee is not required to deduct tax u/s.194J of the Act and consequently, the assessee shall not be treated as an assessee in default u/s 201(1) of the Act.
VODAFONE IDEA LIMITED (FORMERLY KNOWN AS VODAFONE MOBILE SERVICES LIMITED) VERSUS ACIT -TDS, BHUBANESWAR
(2020) TaxCorp(LJ) 22644 (ITAT-CUTTACK) · https://taxcorp.in/FileOpenDT.aspx?ID=83532&Category=ITAT&CategoryType=Zip
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Valuation of closing stock has been changed due to Uniform Accounting Policy of Coal India Limited. We found that a reference made by the AO on the audited accounts that Reduction in value of stock is due to overall adjustment is as per the Uniform Accounting Policy adopted by the Coal India Limited. Ld A.R. demonstrated before us with a copy of letter of Uniform Accounting Committee recommendation and supported with paper book.
MAHANADI COALFIELDS LTD. VERSUS DCIT, CIRCLE-2 (1) , SAMBALPUR
(2020) TaxCorp(LJ) 22643 (ITAT-CUTTACK) · https://taxcorp.in/FileOpenDT.aspx?ID=83534&Category=ITAT&CategoryType=Zip
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We have two rates for quantifying the additional profits i.e. 0.61% of CIT(A) and 0.51% of the Tribunal for the assessment year 2006-07. The turnover is found increased for the assessment year 2007-08. Considering the same, we are of the opinion that the additional profits at 0.51% needs to be revised marginally. If the same is done, we find the decision of the CIT(A) with 0.61% of additional profits should be considered proper and appropriate.
S.C. THAKUR & BROTHERS AND THAKUR INFRAPROJECT P. LTD. VERSUS ACIT, CENTRAL CIRCLE, MUMBAI AND (VICE-VERSA) AND DCIT, PANVEL CIRCLE, PANVEL
(2020) TaxCorp(LJ) 22642 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=83497&Category=ITAT&CategoryType=Zip
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There is no dispute about the payment of the interest and the utilization of the loans received by the business entity. The invocation of the Section 40A(2)(b) by the AO in this case is on a wrong interpretation/application of the provisions. The provisions of Section 40A(2)(b) entitles disallowance on account of any expenditure being excessive are unreasonable having regard to the fair market value. In the instant case, we find that the amounts have been received from the partnership firm by the loan parties and if at all any disallowance is to be made, the same needs to be considered in the hands of the partnership firms but not in the proprietary concern.
AMIT MEHRA VERSUS INCOME TAX OFFICER
(2020) TaxCorp(LJ) 22641 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=83498&Category=ITAT&CategoryType=Zip
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CIT(A) has noted the fact that the assessee had been incurring expenditure on running of school which being for the purpose of education qualified as charitable activities u/s 2(15) and has spent on the activities of running medical camps and old age homes which also qualified as charitable activities in the nature of medical relief to the poor u/s 2(15).
THE J.C.I.T. (OSD) , (EXEMPTIONS) , CIRCLE-2, CHANDIGARH. VERSUS M/S VISHAV MANAV RUHANI KENDRA, NAWAN NAGAR, CIRCLE-2, CHANDIGARH.
(2020) TaxCorp(LJ) 22640 (ITAT-CHANDIGARH) · https://taxcorp.in/FileOpenDT.aspx?ID=83499&Category=ITAT&CategoryType=Zip
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Assessee has placed reliance on the decision of the Coordinate Bench of the Tribunal in the case of Unique Educational Society, Yamunanagar vs CIT wherein, in almost similar facts and circumstances, the similar activity of Vocational Education/Training programme through ITI has been held to fall within the purview and scope of term education. It has been further held that the receipt from the said activity was in the course of carrying out of educational activity of the assessee.
MARKANDASHWAR SHIVJI EDUCATION TRUST VERSUS THE CIT (EXEMPT ION) , CENTRAL REVENUE BUILDING, CHANDIGARH
(2020) TaxCorp(LJ) 22639 (ITAT-CHANDIGARH) · https://taxcorp.in/FileOpenDT.aspx?ID=83501&Category=ITAT&CategoryType=Zip
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BIPL leaves no confusion that BIPL being subsidiary/group company of Buhler AG, Switzerland is having regular business activity in India and apart from the trading business it also regularly providing marketing services to Buhler AG, Switzerland.
M/S. SANGHVI FOODS PRIVATE LIMITED VERSUS ITO (IT & TP) , BHOPAL
(2020) TaxCorp(LJ) 22638 (ITAT-INDORE) · https://taxcorp.in/FileOpenDT.aspx?ID=83507&Category=ITAT&CategoryType=Zip
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There is no such material or finding in the impugned order that any such kind of project or supervisory activity was carried out for more than six months in India. There has to be some kind of onsite planning and supervision activity which is completely absent here in this case, firstly, for the reason that the services have been rendered from outside India and secondly, there is no finding that any personnel of assessee have been performing any kind of such activity in India for a period of more than six months.
IDIADA AUTOMOTIVE TECHNOLOGY, SH. S. KALYANASUNDARAM VERSUS DCIT, CIRCLE-3 (2), NEW DELHI
(2020) TaxCorp(LJ) 22637 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=83490&Category=ITAT&CategoryType=Zip
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The govt. of West Bengal has decided to grant the subsidy by way of IPA for setting up of large/medium/small scale eligible unit which is prescribed in the WBIS 2000 and the unit has to be set up in either group B or C areas prescribed in the said scheme (WBIS 2000). We note that the assessee had set up a new unit in the Bankura District of West Bengal area which falls in the group C area of the Scheme WBIS 2000.
DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-3 (1), KOLKATA. VERSUS M/S. SOVAISPAT LIMITED
(2020) TaxCorp(LJ) 22636 (ITAT-KOLKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=83491&Category=ITAT&CategoryType=Zip
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As there is no change in the facts and circumstances of the case, the learned dispute resolution panel in assessee’s own case for assessment year 14-15 has also rejected Modi care Limited as comparable and accepted the transactional net margin method as the most appropriate method, we respectfully following the decision of the coordinate bench direct learned TPO to adopt transactional net margin method as the most appropriate method and also not to take Modicare Ltd as the comparable.
M/S ORIFLAME INDIA PVT. LTD. VERSUS ADDITIONAL COMMISSIONER OF INCOME TAX, SPECIAL RANGE : 7, NEW DELHI.
(2020) TaxCorp(LJ) 22635 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=83492&Category=ITAT&CategoryType=Zip
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Having regard to the rival contentions and Rule 9B of the I.T.Rules, we find that the assessee is not claiming the expenditure incurred on the acquisition of movies but the assessee is claiming loss due to non-recovery of advances paid. Rule 9B only provides a method of computing deduction available in respect of expenditure on acquisition of distribution rights of feature films, but does not address the sequence in which deductions are to be allowed.
M/S. ASIAN THEATRES PRIVATE LIMITED VERSUS ASST. COMMISSIONER OF INCOME TAX, CIRCLE 13 (1) HYDERABAD
(2020) TaxCorp(LJ) 22634 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=83495&Category=ITAT&CategoryType=Zip
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The petitioner Association is directed to submit a representation with respect to nil/lower deduction of income tax to the authorities concerned, within a period of four weeks from the date of receipt of a copy of this order. On such submission being made, the authorities concerned shall consider the same and pass appropriate orders, on merits and in accordance with law, after affording due opportunity of personal hearing to the petitioner Association within a period of four weeks thereafter. Till such time, the order of interim injunction already granted, shall stand extended.
INDIAN OVERSEAS BANK OFFICERS' ASSOCIATION VERSUS UNION OF INDIA, THE CENTRAL BOARD OF DIRECT TAXES, NEW DELHI, THE CHIEF COMMISSIONER OF INCOME TAX, CHENNAI
(2020) TaxCorp(LJ) 22633 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=82951&Category=Judgment&CategoryType=Zip
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It is well settled principles of law that guideline value is only to guide the Sub-Registrar to find out the correct market value for the purpose of collecting stamp duty. Market value is not a constant figure. It may vary depending upon the various factors. Therefore, the guideline value may not always represent the market value of the property.
THE ASST. COMMISSIONER OF INCOME TAX, NON CORPORATE CIRCLE 1, CHENNAI VERSUS SHRI VUMMIDI AMARENDRAN, CHENNAI
(2020) TaxCorp(LJ) 22632 (ITAT-CHENNAI) · https://taxcorp.in/FileOpenDT.aspx?ID=83484&Category=ITAT&CategoryType=Zip
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In view of the consistent finding of the Tribunal since assessment year 2008-09, respectfully following the finding of the Tribunal for assessment year 2008-09 to 2012-13 we set aside the order of the lower authorities and hold the activity of purchase and sale of shares in question as investment activity to be assessed under the head capital gain. In this regard, the Hon'ble Supreme Court in the case of Maxopp Investment Ltd Vs CIT Where shares are held as investment in the investee company, may be for the purpose of having controlling interest therein.
M/S. PURAN ASSOCIATES PVT. LTD. VERSUS ACIT, CIRCLE-20 (1) , NEW DELHI
(2020) TaxCorp(LJ) 22631 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=83485&Category=ITAT&CategoryType=Zip
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