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Where there is no basis for levy of interest u/s 234D and such levy is ultimately held to be not valid in the present case, the amount paid by the assessee will go to offset the outstanding tax and interest demand except interest u/s 234D and only on the remaining outstanding demand, the interest u/s 220(2) shall be levied.
M/S RAMA HANDICRAFTS VERSUS DCIT, CIRCLE-04 JAIPUR
(2020) TaxCorp(LJ) 22530 (ITAT-JAIPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=83340&Category=ITAT&CategoryType=Zip
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Clause (i) to section 201(3) of the Act specifies that no order shall be made under sub-section (1) of section 203 of the Act deeming a period to be an assessee in default for failure to deduct the whole or any part of the tax from a resident in India, at any time after the expiry of two years from the end of the financial year in which the statement is filed in a case where the statement referred to in section 200 has been filed. Here, the assessee has not deducted TDS under section 194H of the Act and thus, the question of filing of quarterly statement as required under section 200 of the Act by the assessee do not arise and therefore, we held that the assessee is not covered by the provisions of section 201(3)(i) of the Act.
THE ASSISTANT COMMISSIONER OF INCOME TAX, TDS CIRCLE – 3, CHENNAI. VERSUS M/S. VODAFONE SOUTH LTD., (NOW KNOWN AS VODAFONE MOBILE SERVICES LTD.) AND (VICE-VERSA)
(2020) TaxCorp(LJ) 22529 (ITAT-CHENNAI) · https://taxcorp.in/FileOpenDT.aspx?ID=83345&Category=ITAT&CategoryType=Zip
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If there is income element in the documents seized form the possession of the assessee, then there was no requirement of bringing any corroborative material on record. However, there has to be existence of income in the documents seized. If the documents seized does not show any income earned by the assessee, then ld AO cannot rest on provision of section 292C without bringing any corroborative material on record.
SUMMIT MITTAL, MADHUR MITTAL VERSUS DCIT, CENTRAL CIRCLE-22, NEW DELHI
(2020) TaxCorp(LJ) 22528 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=83346&Category=ITAT&CategoryType=Zip
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In the impugned communications dated 14.12.2015 and 28.11.2016, the respondent has not denied that the petitioner had truly and fully disclosed all the materials that were required for completing the assessments.e assessment.
M/S. INTERNATIONAL FLAVOURS AND FRAGRANCES INDIA PRIVATE LIMITED, VERSUS THE DEPUTY COMMISSIONER OF INCOME-TAX, LARGE TAXPAYER UNIT – II
(2020) TaxCorp(LJ) 22527 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=82919&Category=Judgment&CategoryType=Zip
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From the reading of letter dated 01.01.2011 of the said MD IN Services Private Limited UK, the non-resident overseas company indicates that the service provided by them to the petitioner was in the nature of consultancy services. Payments made by the petitioner to the said UK company would be an income deemed to accrue/arise in India within the meaning of Section 9(1)(vii)(b) of the Income Tax Act, 1961.
M/S. SHRIRAM CAPITAL LIMITED VERSUS THE DIRECTOR OF INCOME TAX, (INTERNATIONAL TAXATION) , CHENNAI AND THE INCOME TAX OFFICER, INTERNATIONAL TAXATION – I (2) , CHENNAI
(2020) TaxCorp(LJ) 22526 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=82920&Category=Judgment&CategoryType=Zip
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To qualify as a business loss it is necessary that such loss should have been incurred during the year, since the unit was sold and closed since long back. The loss does not qualify even otherwise as allowable business loss during the year as assessee did not prove that such loss has been incurred during the year.
National Research Development Corporation Vs DCIT
(2020) TaxCorp(LJ) 22525 (ITAT-DELHI)
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Action u/s 263 of the act is initiated for the issues which are already decided in the original assessment u/s 143 (3) of the act and not in reopened assessment. Therefore in such circumstances, if Ld. PCIT wants to touch any issue of the original assessment order, the time limit for passing the order us/ 263 of the act should run from the date of the original order passed u/s 143(3) of the act and not the subsequently reopened assessment order u/s 147 of the act.
Jindal Steel & Power Ltd Vs Pr. CIT
(2020) TaxCorp(LJ) 22524 (ITAT-DELHI) · Section 263
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The coronavirus should be considered a case of natural calamity and Force majeure clause maybe invoked, wherever considered appropriate, following the due procedure, also cites SC orders dated March 23rd and May 6th extending limitation period for filing appeals.
Deputy Commissioner of Income Tax Vs JSW Limited
(2020) TaxCorp(LJ) 22523 (ITAT-MUMBAI)
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The AO overstepped his jurisdiction and commented on the third party assessee which is not permissible under the Act.
Glebe Trading Pvt. Ltd. Vs ITO
(2020) TaxCorp(LJ) 22522 (ITAT-DELHI)
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When the assessee no more remains the owner of the equipment, how can it claim depreciation on the same. Under these circumstances depreciation cannot be postponed beyond the actual life/ ownership of the equipment of 3 years, which is also fortified by TRAI notification wherein the life of the STBs has been taken at 3 years and allows depreciation @ 60%.
M/s Fastway Transmission (P) Ltd. Vs The ACIT
(2020) TaxCorp(LJ) 22521 (ITAT-CHANDIGARH) · Section 37
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Only the rental income should be charged to tax under income from house property and the income from maintenance services should be brought to tax under income from other sources after allowing benefit of deduction towards expenditure incurred on maintenance charges.
Jagatjit Industries Ltd Vs Dy. CIT
(2020) TaxCorp(LJ) 22520 (ITAT-DELHI)
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It is not possible on the part of the Addl.CIT to go through the orders in about more than 100 cases on the very same day and give approval. Even if such approval has been given, it can be said that the same is nothing but a technical formality without application of mind.
Uttarakhand Uthan Samiti Vs ITO
(2020) TaxCorp(LJ) 22519 (ITAT-DELHI) · Section 153A
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At present, there is no necessity to go into the merits of the captioned stay application.
Smt. Sangeeta Sawhney Vs ACIT
(2020) TaxCorp(LJ) 22518 (ITAT-DELHI)
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Capital contribution by the partners cannot be treated as income of the assessee and if the partners are not able to explain the sources for their investment, the AO can only make the addition in the hands of the partners and not in the hands of the assessee firm.
Jayashree Anand Enterprises Vs ITO
(2020) TaxCorp(LJ) 22517 (ITAT-HYDERABAD) · Section 69
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Invocation of Rule 27 for challenging the decision of the CIT (A) on the legal ground was well within the scope of Rule 27.
SANJAY SAWHNEY Vs PRINCIPAL COMMISSIONER OF INCOME TAX
(2020) TaxCorp(LJ) 22516 (HC-DELHI)
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Ground relating to challenging the order passed by the Assessing officer for want of jurisdiction was taken before the ld CIT(A), however, it appears that the ld CIT(A) has wrongly read the ground relating to jurisdiction and limitation together and has dismissed both these grounds as not pressed. Given that this ground was taken by the assessee before the ld CIT(A) and not adjudicated upon, the matter deserve to be set-aside to the file of the ld CIT(A) to adjudicate the said ground of appeal after providing reasonable opportunity to the assessee.
EID MOHAMMAD NIZAMUDDIN VERSUS INCOME TAX-OFFICER
(2020) TaxCorp(LJ) 22515 (ITAT-JAIPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=83328&Category=ITAT&CategoryType=Zip
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Assessee sold all the shares and incurred a huge loss and as per the records submitted before us, assessee has claimed it as the business loss considering the fact that assessee has treated the above shares which was sold during the year as stock-in-trade. As per the records brought to our notice by Ld. AR, it clearly indicates that all this information of conversion of shares into stock-in-trade were brought to the notice of the AO in the original assessment itself.
DCIT CIR 6 (1) (1) , MUMBAI VERSUS M/S AGARWAL TEXTILES INDUSTRIES PVT. LTD. AND (VICE-VERSA)
(2020) TaxCorp(LJ) 22514 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=83324&Category=ITAT&CategoryType=Zip
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Section 271C provides that if any person fails to deduct whole or any part of the tax as required, then he shall be liable to pay by way of penalty a sum equal to the amount of tax which he has failed to deduct. Section 273B of the Act provides that notwithstanding the provisions contained under Section 271C, no penalty shall be imposable upon the person or the assessee for any failure referred to in the aforesaid provision if the person or the assessee concerned proves there was reasonable cause for the said failure.
UNION BANK OF INDIA VERSUS ADDL. COMMISSIONER OF INCOME TAX (TDS) , JAIPUR
(2020) TaxCorp(LJ) 22513 (ITAT-JAIPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=83329&Category=ITAT&CategoryType=Zip
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There is no dispute that the assessee has supplied electrical goods to M/s Shri Om Sai Stones Industries vide sale bill no. 237 dated 24.05.2012 for a sum of ₹ 4,58,430/-. It is also not in dispute that the cash amount of ₹ 1 lac received earlier from M/s Shri Om Sai Stones Industries during the last quarter of the impugned financial year has been adjusted against the said sales and only the balance amount of ₹ 3,58,430/- has been received by the assessee.
SURESH KUMAR DAPKARA VERSUS THE ADD. CIT, RANGE-1, KOTA.
(2020) TaxCorp(LJ) 22512 (ITAT-JAIPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=83330&Category=ITAT&CategoryType=Zip
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Infosys BPO Ltd. cannot be considered as a comparable to the assessee company for the simple reason that the assessee company is engaged in rendering system integration, enterprise solutions and software development services to the clients of its Associated Enterprises (AE) and also to independent customers in the United Kingdom, the United State of America and others countries in Europe as well as India while being a subsidiary of Steria (UK). On the other hand Infosys BPO Ltd.
M/S. STERIA (INDIA) LTD. VERSUS ADD. COMMISSIONER OF INCOME TAX, NEW DELHI
(2020) TaxCorp(LJ) 22511 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=83331&Category=ITAT&CategoryType=Zip
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