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The Court notes that after the words “data relating to the financial year” occurring in Rule 10 B (4) of the Rules , there is an insertion made in the Rules with effect from 19th October 2015, which reads “hereafter in this Rule and in Rule 10 (C) (a) referred to as the ‘current year’.
PR. COMMISSIONER OF INCOME TAX- 4 VERSUS M/S. GIESECKE & DEVRIENT (INDIA) PVT. LIMITED
(2019) TaxCorp(LJ) 19817 (HC-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=79488&Category=Judgment&CategoryType=Zip
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CIT(A) in the order dated 1st October, 2014 held that under Section 50 (C)(3) of the Act, the value adopted for payment of stamp duty can be adopted as sale consideration only if the fair market value determined by DVO is less than the value adopted for stamp duty purposes.
PR. COMMISSIONER OF INCOME TAX-15 VERSUS M/S. MODERN LACE HOUSE
(2019) TaxCorp(LJ) 19816 (HC-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=79489&Category=Judgment&CategoryType=Zip
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In order to invoke Article 11(2) of the DTAA, an onus is cast to establish how the income is taxable according to the laws of the state which in this case is India.
AGR Matthey of Western Australia Through representative assessee PEC Limited Vs ADIT International Taxation
(2019) TaxCorp(LJ) 19815 (ITAT-DELHI)
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It is not a case of change of opinion but discovery of new material which is the basis of reassessment proceeding.
Sharda Exports Vs ommissioner of Income Tax
(2019) TaxCorp(LJ) 19814 (HC-UTTARAKHAND)
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According to section 150(1), a notice u/s 148 may be issued at any time for the purpose of making an assessment in consequence of or to give effect to any finding or direction contained in an order passed on appeal.
THE ALLAHABAD BANK KARAMCHARI COOPERATIVE CREDIT SOCIETY LTD. VERSUS THE INCOME TAX OFFICER-4 (1) KANPUR
(2019) TaxCorp(LJ) 19813 (ITAT-LUCKNOW) · https://taxcorp.in/FileOpenDT.aspx?ID=76789&Category=ITAT&CategoryType=Zip
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It is a well settled principle of interpretation that the heading of a section should also be assigned meaning while interpreting the section. From the heading of the Section 194B it is amply clear that there is no whisper that Section 194B was intended to cover within its purview winnings from horse races.
ROYAL WESTERN INDIA TURF CLUB LTD. VERSUS ACIT TDS – 3 (2), MUMBAI.
(2019) TaxCorp(LJ) 19812 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=76790&Category=ITAT&CategoryType=Zip
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CIT(A) has carefully considered the Inspection Report of Maharashtra Pollution Control Board dated 05.10.2007 who visited the factory of the assessee company at Aurangabad from time to time and their reports which are related to inspection of Effluent Treatment Plant which confirms the operation of ETP(Plant), and other observation made about ETP plant.
ACIT, CIRCLE 12 (1), NEW DELHI VERSUS M/S INDO EUROPEAN BAREWERIES LTD.,
(2019) TaxCorp(LJ) 19811 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=76792&Category=ITAT&CategoryType=Zip
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Referring to Section 41 (1) the amount is added to the income of the assessee only when an allowance or deduction has been made in the assessment for any year.
ACIT CIRCLE – 5 (1) , NEW DELHI VERSUS DHARA VEGETABLE OIL & FOODS CO. LTD. NEW DELHI AND (VICE-VERSA)
(2019) TaxCorp(LJ) 19810 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=76794&Category=ITAT&CategoryType=Zip
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ITAT has in the impugned order noted that for AY 2004-2005 there was no material in possession of the AO other than the observation of the Revenue audit to proceed against the Assessee u/s 147 - CIT (A) noted that the case fell squarely within the realm of ‘change of opinion’ which was impermissible as a basis for re-opening of assessments after a lapse of four years.
PR. COMMISSIONER OF INCOME TAX, AND OTHERS VERSUS M/S. SAHARA INDIA LIFE INSURANCE COMPANY, LTD.
(2019) TaxCorp(LJ) 19809 (HC-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=79472&Category=Judgment&CategoryType=Zip
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On a perusal of the report of the investigation which was produced before this Court, it appears prima facie that there was sufficient material to justify the reopening of the assessment in both sets of cases.
CHETAN SABHARWAL, NITIN SABHARWAL VERSUS ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 28 (1)
(2019) TaxCorp(LJ) 19808 (HC-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=79473&Category=Judgment&CategoryType=Zip
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So long as there exists a direct link between the eligible undertaking and some income, the same is profit of the business of undertaking, even if may not be derived from the export of computer software etc.
iGate Global Solutions Ltd Vs DCIT
(2019) TaxCorp(LJ) 19807 (ITAT-PUNE) · Section 10A
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It is sufficient if the existing company acquires all the assets and liabilities of the partnership firms in the manner as provided under section 47(xiii) of the Act to claim the exemption from the capital gain.
Neptune Industries Ltd Vs ACIT
(2019) TaxCorp(LJ) 19806 (ITAT-AHMEDABAD)
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The notice u/s 148(2) was first published in the newspaper on 09.12.2017 which was beyond the period of limitation, however, the record reveals that the notice u/s 148(2) was first issued on 30.03.2017, which as per Section 149(1)(b) was within limitation.
SMT. GOURA SINGH VERSUS UNION OF INDIA AND OTHERS
(2019) TaxCorp(LJ) 19805 (HC-MP) · https://taxcorp.in/FileOpenDT.aspx?ID=79461&Category=Judgment&CategoryType=Zip
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Assessee’s appeal was allowed by the CIT(A) by an order dated 3rd March, 2015 inter alia on the ground that before invoking Section 145, the AO had not given any opportunity to the Assessee and therefore, could not have drawn an adverse influence against it.
THE PR. COMMISSIONER OF INCOME TAX -7 VERSUS OMNIA APPLIANCES PVT. LTD.
(2019) TaxCorp(LJ) 19804 (HC-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=79465&Category=Judgment&CategoryType=Zip
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Under the facts and circumstances of the case, more particularly when there was no assessment under Section 143(3) of the Act and the fact that the assessee has separately filed Form No.10 along with the Board Resolution, along with the covering letter dated 01.04.2009, it is a fit case where the assessing officer should be directed to take note of Form No.10 accompanied by the Board Resolution and take a decision on merits.
SHRI CHANDRAPRABHUJI MAHARAJ JAIN JUNA MANDIR RUST VERSUS THE DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTIONS) -II, CHENNAI
(2019) TaxCorp(LJ) 19803 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=79466&Category=Judgment&CategoryType=Zip
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Section 132(4A)(i) clearly stipulates that when inter alia any document is found in the possession or control of any person in the course of a search it may be presumed that such document belongs to such person.
PRINCIPAL COMMISSIONER OF INCOME TAX 3 VERSUS HIMANSHU CHANDULAL PATEL
(2019) TaxCorp(LJ) 19802 (HC-GUJARAT) · https://taxcorp.in/FileOpenDT.aspx?ID=79467&Category=Judgment&CategoryType=Zip
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In the present case, it is true that a notice was issued u/s 153. The petitioner was asked to furnish true and correct particulars of income including the income, which was included by the petitioner in the original return while finalizing the total income, meaning thereby, the return filed in response to the notice u/s 153A includes the income tax income (if any) in addition to income originally declared by the petitioner while filing the return u/s 139(1).
M/S SHYAM VANASPATI OILS LTD. THRU AUTH. SIGN. BIPUL MOITRA VERSUS PRIN. COMMISSIONER OF INCOME TAX (CENTRAL) , LKO. AND ORS.
(2019) TaxCorp(LJ) 19801 (HC-ALLAHABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=79469&Category=Judgment&CategoryType=Zip
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Upon reading the reasons to believe as a whole the live link between the material in the form of the investigation report and the formation of belief that income that has escaped assessment is prima facie discernable.
CHETAN SABHARWAL Vs ASSISTANT COMMISSIONER OF INCOME TAX
(2019) TaxCorp(LJ) 19800 (HC-DELHI)
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The amount received by assessee on sale of prepaid cards to the extent of unutilized talk time did not accrue as income in the year of sale.
SHYAM TELELINK LTD Vs COMMISSIONER OF INCOME TAX-III
(2019) TaxCorp(LJ) 19799 (SC)
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The said allegation could trigger the investigation, but it alone cannot be the basis for arriving at the belief that there was escapement of income.
Janani Infrastructure Pvt. Ltd Vs The Asst. Commissioner of Income-tax
(2019) TaxCorp(LJ) 19798 (ITAT-BANGALORE) · Section 68
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