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S. 92CA(1) Transfer Pricing: CBDT's Instruction No.3/2003 dated 20.05.2003 makes it mandatory for the AO to make a reference to the TPO. The failure to make reference to the TPO renders the Transfer Pricing Adjustments made therein are bad in law though the assessment order is good. The matter should be restored to the file of the AO so that appropriate reference could be made to the TPO
PCIT vs. S. G. Asia Holding (I) Pvt. Ltd
(2019) TaxCorp(LJ) 19857 (SC) · Section 92CA(1)
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S. 143(2)/ 292BB: The failure to issue a notice u/s 143(2) renders the assessment order void even if the assessee has participated in the proceedings. S. 292BB does not save complete absence of notice. For S. 292BB to apply, the notice must have emanated from the department. It is only the infirmities in the manner of service of notice that the Section seeks to cure. The Section is not intended to cure complete absence of notice itself
CIT vs. Laxman Das Khandelwal
(2019) TaxCorp(LJ) 19856 (SC) · Sections 143(2), 292BB
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Where loan and advance is given in return to an advantage (interest) then provisions of section 2(22)(e) does not apply.
ACIT, CC-1 (2) , KOLKATA VERSUS CORPORATE ISPAT ALLOYS LTD.
(2019) TaxCorp(LJ) 19855 (ITAT-KOLKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=76966&Category=ITAT&CategoryType=Zip
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Tribunal relying upon the Circular No.21/2015 dated 10th December 2015 dismissed the appeal on the ground of low tax effect without going into the merits of the matter.
PRINCIPAL COMMISSIOER OF INCOME TAX-2 VERSUS M/S KUNJ INFRASTRUCTURE PVT LTD.
(2019) TaxCorp(LJ) 19854 (HC-GUJARAT) · https://taxcorp.in/FileOpenDT.aspx?ID=79549&Category=Judgment&CategoryType=Zip
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The electricity has all the necessary trappings of articles or things and the benefit of additional depreciation cannot be denied.
PR. COMMISSIONER OF INCOME TAX, SURAT-1 VERSUS M/S KADODARA POWER PVT LTD.
(2019) TaxCorp(LJ) 19853 (HC-CALCUTTA) · https://taxcorp.in/FileOpenDT.aspx?ID=79553&Category=Judgment&CategoryType=Zip
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The first issue was purely a question of fact. The tribunal analysed the terms of the transfer agreement in detail and came to the conclusion that it was a bona fide agreement of transfer for a consideration. We are not minded to interfere with that finding.
COMMISSIONER OF INCOME TAX, KOLKATA – IV, KOLKATA VERSUS AKZO NOBLE INDIA LIMITED [FORMERLY KNOWN AS I.C.I. (INDIA) LIMITED]
(2019) TaxCorp(LJ) 19852 (HC-CALCUTTA) · https://taxcorp.in/FileOpenDT.aspx?ID=79554&Category=Judgment&CategoryType=Zip
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The law on the point as regards applicability of the requirement of notice u/s 143(2) is quite clear from the decision in Blue Moon’s case. The issue that however needs to be considered is the impact of Section 292BB. According to Section 292BB, if the assessee had participated in the proceedings, by way of legal fiction, notice would be deemed to be valid even if there be infractions as detailed in said Section.
COMMISSIONER OF INCOME TAX VERSUS LAXMAN DAS KHANDELWAL
(2019) TaxCorp(LJ) 19851 (SC) · https://taxcorp.in/FileOpenDT.aspx?ID=79555&Category=Judgment&CategoryType=Zip
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In view of the guidelines issued by the CBDT in Instruction No.3/2003 the Tribunal was right in observing that by not making reference to the TPO, the AO had breached the mandatory instructions issued by the CBDT. We do not find the conclusion so arrived at by the Tribunal to be incorrect.
THE PRINCIPAL COMMISSIONER OF INCOME TAX-4, MUMBAI VERSUS M/S. S.G. ASIA HOLDINGS (INDIA) PVT. LTD.
(2019) TaxCorp(LJ) 19850 (SC) · https://taxcorp.in/FileOpenDT.aspx?ID=79556&Category=Judgment&CategoryType=Zip
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It is not the AO but the assessee is carrying on the profession. He knows better that what kind of expenditure he should incur for furtherance of his business.
Shri Harish Narinder salve Vs The Assistant Commissioner of Income tax
(2019) TaxCorp(LJ) 19849 (ITAT-DELHI) · Section 37(1)
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Set-off and carry forward of losses are dealt with by the provisions of Section 70 to 74, whereas income of the trust is computed u/s. 11 -13 and hence is not hit by those provisions.
Angoori Devi Educational & Cultural Society Vs DCIT
(2019) TaxCorp(LJ) 19848 (ITAT-DELHI) · Section 80
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Situations wherein returns are filed post demise of the assessee by legal heir are common situations and therefore it is for the Income Tax Department to update data software to make allowance for such situations.
T Palani Vs Assistant Commissioner of Income Tax
(2019) TaxCorp(LJ) 19847 (HC-MADRAS) · Section 292-B
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Provisions u/s 11(1)(a) of the Act speaks about the actual receipt of the income and actual expenses incurred for that and deemed income is not to be assessed.
INDIAN CANCER SOCIETY VERSUS ASSTT. DIRECTOR OF INCOME TAX (EXEMPTION) -II (1), MUMBAI
(2019) TaxCorp(LJ) 19846 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=76935&Category=ITAT&CategoryType=Zip
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In our view, section 43A has no application considering the fact that the fixed assets were purchased in Indian currency and only the term loan was converted into FCNR and back to rupee loan.
SRI RAMADAS PAPER BOARDS (P) LTD., HYDERABAD. VERSUS DY. COMMISSIONER OF INCOME-TAX, CIRCLE – 3 (2), HYDERABAD.
(2019) TaxCorp(LJ) 19845 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=76939&Category=ITAT&CategoryType=Zip
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Although, there is no supporting evidences filed in support of contents of affidavit explaining reasons for not filing the appeal, but a sworn statement in form of affidavit cannot be ignored in total.
ADI D VACHHA VERSUS ITO, WARD-12 (3) (1) MUMBAI
(2019) TaxCorp(LJ) 19844 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=76941&Category=ITAT&CategoryType=Zip
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There was no application of mind by the Authorities while arriving at a decision insofar as this issue is concerned. It is the specific case of the assessee that the letter of confirmation issued by various persons to establish the hand loans received by the assessee has not been considered.
SRI BAIRAPPA KRISHNAPPA VERSUS COMMISSIONER OF INCOME TAX (APPEALS) , BENGALURU
(2019) TaxCorp(LJ) 19843 (HC-KARNATAKA) · https://taxcorp.in/FileOpenDT.aspx?ID=79537&Category=Judgment&CategoryType=Zip
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It is ex-facie apparent that the order impugned is a cryptic order passed by the ITAT without assigning valid reasons. No stay petition would have been dismissed outrightly for recovery of the outstanding demand.
M/S. STERLING URBAN DEVELOPMENTS PRIVATE LIMITED, VERSUS THE DEPUTY COMMISSIONER OF INCOME-TAX CIRCLE-6 (1) (2), BENGALURU
(2019) TaxCorp(LJ) 19842 (HC-KARNATAKA) · https://taxcorp.in/FileOpenDT.aspx?ID=79539&Category=Judgment&CategoryType=Zip
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Once there is a clear order of setting aside of an assessment order with the requirement of the AO/TPO to undertake a fresh exercise of determining the arm’s length price, the failure to pass a draft assessment order, would violate Section 144C (1) of the Act result.
OMNIGLODE INFORMATION TECHNOLOGIES (INDIA) PVT. LTD. VERSUS ADDL. COMMISSIONER OF INCOME-TAX
(2019) TaxCorp(LJ) 19841 (HC-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=79543&Category=Judgment&CategoryType=Zip
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When the investment in trust itself stands unexplained and uncorroborated, the legal position with respect to taxability of such trust funds is altogether at a different level.
Dr Atul T Patel Vs Deputy Commissioner of Income Tax
(2019) TaxCorp(LJ) 19840 (ITAT-AHMEDABAD)
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Section 145(3) gives discretion to the AO to make an assessment in the manner provided in Section 144, yet this discretion cannot be exercised arbitrarily.
RAMESHCHANDRA RANGILDAS MEHTA, PROP. OF M/S SUNIT TRADING COMPANY VERSUS THE INCOME TAX OFFICER WARD 3 (2) (3), SURAT
(2019) TaxCorp(LJ) 19839 (HC-GUJARAT) · https://taxcorp.in/FileOpenDT.aspx?ID=79518&Category=Judgment&CategoryType=Zip
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It is trite law that the AO has a legal obligation to implement the order of the ITAT strictly and such failure would result in the failure of justice.
LOKESH CHANDRAPPA S/O CHANDRAPPA VERSUS INCOME TAX OFFICER WARD-3 (2) (4), BANGALORE
(2019) TaxCorp(LJ) 19838 (HC-KARNATAKA) · https://taxcorp.in/FileOpenDT.aspx?ID=79519&Category=Judgment&CategoryType=Zip
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