-
The reassessment of the total income of the completed assessments have to be made taking note of the undisclosed income, if any, unearthed during the search and the income that escaped assessments are required to be clubbed together with the total income determined in the original assessment and assessed as the total income.
ACIT, CENTRAL CIRCLE-2 (1) , NAGPUR VERSUS GUPTA INTERNATIONAL INDUSTRIES LTD. AND (VICE-VERSA)
(2020) TaxCorp(LJ) 22450 (ITAT-NAGPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=83109&Category=ITAT&CategoryType=Zip
-
The provisions of section 48 of the Act does not refer to take the fair market value as the sale consideration.
DCIT, CIRCLE-1, RAJKOT VERSUS SHRI HITESH MANUSUKHLAL BAGDAI
(2020) TaxCorp(LJ) 22449 (ITAT-RAJKOT) · https://taxcorp.in/FileOpenDT.aspx?ID=83111&Category=ITAT&CategoryType=Zip
-
Undertaking in respect of which deduction has been claimed u/s 80IC falls in the specified Industrial area as per Notification No. 177/2004 dated 28-06-2004 issued by the CBDT in accordance with the scheme framed and notified by the Central Government for the state of Uttaranchal. Apparently, the said notification was not brought to the notice of ld CIT(A) and in absence of the same, the ld CIT(A) has denied the deduction under section 80IC(2)(a)(ii).
SHRI KARAN RAWAT VERSUS THE ITO, WARD-5 (3) , JAIPUR.
(2020) TaxCorp(LJ) 22448 (ITAT-JAIPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=83118&Category=ITAT&CategoryType=Zip
-
AO has estimated the gross profit rate of 5% as against 1.76% without even rejecting the books of accounts so maintained by the assessee. Even where the complete books of accounts could not be produced for verification and the assessee has only produced copy of audited financial statements along with audit report, where the figures of sales and purchases have been accepted and in absence of opening and closing stock, we find that there cannot be a case of deemed rejection of books of accounts and estimation of gross profit rate.
PAPPU QURESHI VERSUS THE ITO, WARD-4 (5) , JAIPUR.
(2020) TaxCorp(LJ) 22447 (ITAT-JAIPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=83121&Category=ITAT&CategoryType=Zip
-
This is only a factual verification to be made by the Ld.AO from the records of the earlier years and decide the availability of business loss or unabsorbed depreciation for the purpose of reduction while computing book profit U/s.115JB. AO is directed to do so in accordance with law. Hence, the direction of the Ld.CIT in this regard is hereby upheld with all issues left open for the assessee to present with necessary evidences before the Ld.AO.
M/S. TAMILNADU INDUSTRIAL DEVELOPMENT CORPORATION LIMITED VERSUS THE ACIT, COMPANY CIRCLE – III (1) , CHENNAI – 34.
(2020) TaxCorp(LJ) 22446 (ITAT-CHENNAI) · https://taxcorp.in/FileOpenDT.aspx?ID=83090&Category=ITAT&CategoryType=Zip
-
From the reading of aforesaid provisions of Section 15(a) of the Act, it could be concluded that the salary is always taxable on accrual basis. Even as per Provisions of Section 9(1)(ii) which states that income deemed to accrue or arise in India, salary income could be deemed to accrue or arise in India, only if it is earned in India in respect of services rendered in India.
SHRI PAUL XAVIER ANTONY SAMY VERSUS THE ITO, INTERNATIONAL TAXATION 2 (1) , CHENNAI.
(2020) TaxCorp(LJ) 22445 (ITAT-CHENNAI) · https://taxcorp.in/FileOpenDT.aspx?ID=83092&Category=ITAT&CategoryType=Zip
-
Registration under section 12AA cannot be refused on the ground that trust has not commenced the charitable or religious activity. Question of exemption of the application of the income received by way of the donation being a separate issue might be examined in assessment proceeding of relevant years.
MARIAM EDUCATION SOCIETY VERSUS CIT (EXEMPTION) , GOMTI NAGAR, LUCKNOW
(2020) TaxCorp(LJ) 22444 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=83103&Category=ITAT&CategoryType=Zip
-
In the entire reasons recorded there is not even a whisper that there is any failure on the part of the assessee to disclose fully and truly all material facts. It being an admitted position that the assessment is sought to be reopened beyond a period of four years from the end of the relevant assessment year in a case where a scrutiny assessment has been made u/s 143(3) it was incumbent upon the AO to record, in the reasons itself, as to whether there was any failure on the part of the assessee to disclose fully and truly all material facts.
THE PRINCIPAL COMMISSIONER OF INCOME TAX-2 VERSUS M/S. GUJARAT STATE FINANCIAL CORPORATION
(2020) TaxCorp(LJ) 22443 (HC-GUJARAT) · https://taxcorp.in/FileOpenDT.aspx?ID=82883&Category=Judgment&CategoryType=Zip
-
An identical issue having similar facts has already been adjudicated by this Bench of ITAT in assessee’s own case wherein rightly allowed the assessee’s appeal following the order of the I .T.A.T. in assessee’s own case for assessment year 2009-10. We therefore find no reason to interfere in the order of the Ld.CIT(A) holding the technical knowhow expenses as revenue in nature.
THE DCIT CC-II, SECTOR 17E CHANDIGARH VERSUS M/S STEEL STRIPS WHEELS LIMITED AND (VICE-VERSA)
(2020) TaxCorp(LJ) 22442 (ITAT-CHANDIGARH) · https://taxcorp.in/FileOpenDT.aspx?ID=83074&Category=ITAT&CategoryType=Zip
-
AO neither in the assessment order nor in the assessment proceedings has stated that he has sought and has been granted any approval by the appropriate authority for converting the limited scrutiny into complete scrutiny or travelling beyond the matter for which the matter was initially selected for limited scrutiny.
SHRI SITA RAM SWAMI, C/O CA VINOD KUMAR GUPTA VERSUS THE ITO, WARD 4 (5) , JAIPUR
(2020) TaxCorp(LJ) 22441 (ITAT-JAIPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=83075&Category=ITAT&CategoryType=Zip
-
Provision for submission of audit report along with return are not mandatory and that the audit report can be entertained during the assessment proceedings.
M/S R.R. LAMPS VERSUS DY CIT, CIRCLE, PARWANOO (HP)
(2020) TaxCorp(LJ) 22440 (ITAT-CHANDIGARH) · https://taxcorp.in/FileOpenDT.aspx?ID=83080&Category=ITAT&CategoryType=Zip
-
In the present case, the original jurisdiction of the AO is ITO Wad 6(2)(2), Bangalore, who issued notice u/s 143(2) of the Act dated 28.08.2015 fixing the case for hearing on 15th September, 2015. Assessment records were transferred vide order u/s 129 of the Act, to the ITO Ward 6(2)(3), Bangalore, and thereafter notice u/s 142(1) r.w.s. 129 of the Act dated 06.10.2015 was issued and served on the assessee.
THE INCOME TAX OFFICER WARD 6 (2) (3) BENGALURU. VERSUS SRI. P.N. KRISHNAMURTHY AND (VICE-VERSA)
(2020) TaxCorp(LJ) 22439 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=83083&Category=ITAT&CategoryType=Zip
-
By virtue of the AGPA dt.29-11-2006, the assessee has parted with his right in the property because he had received the entire sale consideration as agreed to between both the parties and has also handedover the vacant possession of the property to the Vendee therein. It is also stated therein that the GPA is given to the Vendee for the convenience of the purchaser for doing the necessary acts and things on behalf of the Vendor and the Vendee therein.
SAMA OM REDDY, HYDERABAD VERSUS THE INCOME TAX OFFICER, WARD-8 (2) , HYDERABAD
(2020) TaxCorp(LJ) 22438 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=83084&Category=ITAT&CategoryType=Zip
-
In the present case, the Non-resident Sports Associations had participated in the event, where cricket teams of these Associations had played various matches in the country. Though the payments were described as Guarantee Money, they were intricately connected with the event where various cricket teams were scheduled to play and did participate in the event. The source of income, as rightly contended by the Revenue, was in the playing of the matches in India.
PILCOM VERSUS C.I.T. WEST BENGAL-VII
(2020) TaxCorp(LJ) 22437 (SC) · https://taxcorp.in/FileOpenDT.aspx?ID=82882&Category=Judgment&CategoryType=Zip
-
CIT(A) has examined the nature and scope of the transactions and found that the impugned transactions are towards business and commercial purpose and there is no benefit accruing to the assessee from such transaction. Thus assessee has clearly established that the impugned transactions are not following within the scope of section 2(22)(e). Revenue is not able to dislodge such findings recorded by the Ld. CIT(A) by relevant material.
ASSISTANT COMMISSIONER OF INCOME TAX, NON CORPORATE CIRCLE 7 (1) , CHENNAI VERSUS SHRI. JETHANAND THAKUR BAKSHANI
(2020) TaxCorp(LJ) 22436 (ITAT-CHENNAI) · https://taxcorp.in/FileOpenDT.aspx?ID=83049&Category=ITAT&CategoryType=Zip
-
In the hands of one of the co-owners, the assessment was completed u/s. 143(3) by accepting the computation of long term capital gains made by the co-owner (Shri Thinkal Govind Kumar). In the case of Shri Thinkal Govind Kumar, the assessment was taken up for scrutiny based on AIR information that he had sold an immoveable property at Chennai on 05/10/2005.
SMT. SANTHI KRISHNAN VERSUS THE INCOME TAX OFFICER, WARD-1 (3) , THIRUVANANTHAPURAM
(2020) TaxCorp(LJ) 22435 (ITAT-COCHIN) · https://taxcorp.in/FileOpenDT.aspx?ID=83050&Category=ITAT&CategoryType=Zip
-
There is merit in the submission of the Ld. counsel that the reliance placed by the Tribunal on the decision in the matter of Bovis Lend Lease (I) Pvt. Ltd. (supra), which was not cited or discussed by either the applicant or the respondent at any stage nor mentioned by the Hon’ble Members during the original hearing before the Tribunal or even when the appeal was re-fixed for clarifications by the Tribunal amounts to violation of principles of natural justice.
SODEXO SVC INDIA PVT. LTD. VERSUS DEPUTY COMMISSIONER OF INCOME TAX (TDS) -2 (2) , MUMBAI
(2020) TaxCorp(LJ) 22434 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=83053&Category=ITAT&CategoryType=Zip
-
There was material before the AO to adjudge the admissibility of the said deduction in favour of the assessee particularly when the said step taken by the assessee was in accordance with Section 24 of the Electricity (Supply) Act, 1948 which was applicable to assessee. Section 24 of the said Act enabled the Electricity Board to subscribe to associations constituted for the purpose conducive to development of electricity and promotion of common interest of persons engaged in generation, distribution and supply of electricity.
COMMISSIONER OF INCOME TAX, JABALPUR VERSUS M.P. ELECTRICITY BOARD, RAMPUR, JABALPUR
(2020) TaxCorp(LJ) 22433 (HC-MP) · https://taxcorp.in/FileOpenDT.aspx?ID=82873&Category=Judgment&CategoryType=Zip
-
The AO had reopened the case without any evidence and that too after the block assessment was over and even the regular assessment u/s 143(3) was also completed. There was no evidence found during the course of search that there was undisclosed production. No information was available with the Revenue that there was unaccounted production.
COMMISSIONER OF INCOME TAX, BHOPAL VERSUS M/S SOM DISTILLERIES AND BREWERIES LTD.
(2020) TaxCorp(LJ) 22432 (HC-MP) · https://taxcorp.in/FileOpenDT.aspx?ID=82874&Category=Judgment&CategoryType=Zip
-
The Income Tax Act, 1961 does not make any distinction with regard to the objectives of the Charitable and Religious purposes and the Trusts having both these objectives can also be registered under Section 11 or 12AA of the Act. Tribunal was justified in allowing the appeal filed by the Assessee and upholding the registration of the Trust under Section 12AA read with Section 80G of the Act. The appeal filed by the Revenue is devoid of any merits.
COMMISSIONER OF INCOME TAX CHENNAI VERSUS M/S. BHAGAWAN MAHAVIR DIGAMBARA JAIN MANAGEMENT TRUST
(2020) TaxCorp(LJ) 22431 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=82876&Category=Judgment&CategoryType=Zip
Headnote lines are open to everyone. The full headnote and the judgment text open with a subscription — see plans or sign in.