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In the absence of any corroborative or circumstantial evidence to lend any credence to the contents of the loose paper, no addition can be made on mere presumption, guess-work or conjectures.
Shri Salman Khan Vs ACIT
(2019) TaxCorp(LJ) 19917 (ITAT-MUMBAI)
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Even if we assume the shares held by the assessee were benami then it would fall within the definition of Benami Property as defined under Section 2(8) of the Benami Transaction (Prohibition ) Act 1988 and considering the provisions of the Benami law, the benami property held by the assessee cannot be recovered/ claimed back and cannot be transferred by way of suit, claim or action to enforce the benami property, hence assessee would not be entitled to transfer the LTCG in the hands of Shri R C Garg.
Shyam Sunder & Manish Taori C/o Shyam Sunder Bhattad Vs ACIT
(2019) TaxCorp(LJ) 19916 (ITAT-AGRA)
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It is well known that there are several reasons for difference in income between Form 26AS and books of accounts such as disparity of accounting policy, misquoting of PAN, etc on which the assessee does not have any control and asking the assessee to do the impossible is unwarranted.
TUV India Pvt Ltd Vs DCIT
(2019) TaxCorp(LJ) 19915 (ITAT-MUMBAI)
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The initiation of proceedings u/s 148 is not sustainable in law and the same is quashed.
SHRAVAN CHOUDHARY VERSUS ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-5, JAIPUR.
(2019) TaxCorp(LJ) 19914 (ITAT-JAIPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=77130&Category=ITAT&CategoryType=Zip
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There is no dispute with regard to purchase and import of mobile phones by the assessee from China. The major portion of the imported mobile phones was sold when the goods were in transit by way of high sea sales.
M/S SINGHAL EXIM PVT. LTD. VERSUS INCOME TAX OFFICER, WARD-23 (4) , C.R. BUILDING, NEW DELHI.
(2019) TaxCorp(LJ) 19913 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=77126&Category=ITAT&CategoryType=Zip
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The contention of the DR is not acceptable on the ground that the amount of capital gain can be invested in purchase of land only on receipt of the sale consideration and the intention of the legislature is that the amount of sale consideration should not be utilized otherwise other than purchase of agriculture land and in the instant case the assessee has invested the wholesale consideration in purchase of another agriculture land within two days which is clear from the bank statement of the assessee.
BIRMA DEVI VERSUS I.T.O., WARD 6 (2), JAIPUR.
(2019) TaxCorp(LJ) 19912 (ITAT-JAIPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=77125&Category=ITAT&CategoryType=Zip
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The AO is at liberty to bring to tax the amounts in their respective hands of the investors if their identity, genuineness and creditworthiness is not proved.
ACIT CIR 23 (1) , MUMBAI VERSUS M/S CALVIN PROPERTIES
(2019) TaxCorp(LJ) 19911 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=77123&Category=ITAT&CategoryType=Zip
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As in Assessment Year 2008-09 as well as in Assessment Year 2009-10, the assessing authority itself accepted the stand of the assessee that the Executive search fee was not taxable in India.
SPENCER STUART INTERNATIONAL BV VERSUS DEPUTY COMMISSIONER OF INCOME-TAX (INTERNATIONAL TAXATION) , 4 (2) (2), MUMBAI
(2019) TaxCorp(LJ) 19910 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=77121&Category=ITAT&CategoryType=Zip
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Delay in filling the appeal is not deliberate or wanton, but due to bona fide circumstances set out above. We therefore condone the delay in filing the appeals.
M/S EMBASSY CHARITABLE TRUST VERSUS THE COMMISSIONER OF INCOME TAX (EXEMPTIONS), BANGALORE.
(2019) TaxCorp(LJ) 19909 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=77117&Category=ITAT&CategoryType=Zip
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When assessee has taken the advance against consultancy services and not for investment in mutual funds nor any interest has been paid, there is no question of any direct nexus between exchange fluctuation loss claimed by the assessee with the exempt income earned during the years under assessment.
Theolia Wind Power Pvt. Ltd Vs ACIT
(2019) TaxCorp(LJ) 19908 (ITAT-DELHI) · Section 14A
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Assessee's intention was to expand its activity in overseas market. Hence, subsidiary was only a method by which the assessee was going to spend US$ 1 million for the purpose of its business.
Zoom Entertainment Network Limited Vs ACIT
(2019) TaxCorp(LJ) 19907 (ITAT-MUMBAI)
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Tribunal in its order passed in quantum proceedings, it can be seen that the assessee computed the ALP of the international transaction as per the manner prescribed in the section.
DCIT, CIRCLE-8, PUNE VERSUS ATLAS COPCO (INDIA) LIMITED, MUMBAI-PUNE ROAD
(2019) TaxCorp(LJ) 19906 (ITAT-PUNE) · https://taxcorp.in/FileOpenDT.aspx?ID=77098&Category=ITAT&CategoryType=Zip
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The extensive repairs and renovations carried out by the assessee cannot be said to be incurred to preserve and maintain an already existing asset since many new objects have been brought into as could be seen from the list of construction made and thus, the object of expenditure made by the assessee is definitely to bring a new asset into existence to obtain new advantage further giving enduring benefit to the assessee.
THE COMMISSIONER OF INCOME TAX, CHENNAI VERSUS M/S. E.T.A. TRAVEL AGENCY (P) LTD., CHENNAI-4.
(2019) TaxCorp(LJ) 19905 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=79642&Category=Judgment&CategoryType=Zip
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All that is required for the 1st respondent is to consider whether it is desirable or expedient to allow the petitioner to file the returns for avoiding any genuine hardship.
LABH SINGH VERSUS PRINCIPAL INCOME TAX COMMISSIONER & ANR.
(2019) TaxCorp(LJ) 19904 (HC-HP) · https://taxcorp.in/FileOpenDT.aspx?ID=79643&Category=Judgment&CategoryType=Zip
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Respondent failed to notice that u/s 115A (5) r.w.s. 115A (1) (a) there was no need for the Petitioner to file a return of income u/s 139(1). Respondent wrongly adverted to Clause (b) of Explanation 2 when this was a case of no return having been filed and the case if at all would fall under Clause (a).
M/S. NESTLE SA VERSUS ASSISTANT COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION) , CIRCLE-2 (2) (2) , NEW DELHI
(2019) TaxCorp(LJ) 19903 (HC-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=79644&Category=Judgment&CategoryType=Zip
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Assessee has placed before the Court a detailed chart which shows dissimilarities between the Infosys BPO and the Assessee on several counts. Infosys provides business process management services to organisations over a wide range of industries whereas the Assessee is a routine captive service provider.
SYMPHONY MARKETING SOLUTIONS INDIA PVT. LTD. VERSUS PR. COMMISSIONER OF INCOME TAX-4, NEW DELHI
(2019) TaxCorp(LJ) 19902 (HC-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=79645&Category=Judgment&CategoryType=Zip
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The scope of the Act will apply to any Central Act or Regulation and also to the Constitutions, as it is the Rule of interpretation which has been made applicable to the Constitution in the same manner as it applied to any Central Act or Regulation.
SHRI SUBASH CHAND JAIN VERSUS THE COMMISSIONER OF INCOME TAX, THE INCOME TAX OFFICER, WARD – I (2), SALEM – 7
(2019) TaxCorp(LJ) 19901 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=79646&Category=Judgment&CategoryType=Zip
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The crux of what has been mentioned therein is applicable even in relation to holding of immovable properties.
Deputy Commissioner of Income Tax Vs Shri Niketan Krishorchandra Patel
(2019) TaxCorp(LJ) 19900 (ITAT-AHMEDABAD)
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The provision of interest in Section 244-A of the Income Tax Act would have no applicability in the present case because it is a case of illegal attachment and retention.
Competent Authority-cum-Chief Administrator Vs DCIT
(2019) TaxCorp(LJ) 19899 (HC-P&H) · Section 244-A
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Department's SLPs citing low tax effect is dismissed, applies CBDT's recent circular which had enhanced the monetary limits for filing Departmental appeals before SC to Rs. 2 cr.
MSEB HOLDING COMPANY LTD Vs DY. COMMISSIONER OF INCOME TAX
(2019) TaxCorp(LJ) 19898 (SC)
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