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AO to allocate expenses to incomes on which STT rebate u/s 88E is denied and re-compute the rebate accordingly.
M/s OPG Securities Private Ltd. Vs The Asstt. Commissioner of Income-Tax
(2019) TaxCorp(LJ) 19453 (ITAT-DELHI) · Section 88E
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Sec.43A becomes applicable when the assets are acquired from a country outside India and does not apply to acquisition of indigenous assets.
Neuman & Esser Compressor Application Centre Pvt. Ltd Vs The Dy. Commissioner of Income Tax
(2019) TaxCorp(LJ) 19452 (ITAT-PUNE) · Section 43CA
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Citing 'supervening impossibility' business loss set-off is allowed though not claimed in return.
Maharashtra State Warehousing Corporation Vs Dy. Commissioner of Income Tax
(2019) TaxCorp(LJ) 19451 (ITAT-PUNE)
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Since the 2015 amendment to Sec. 153C is prospective and not retrospective, therefore proceedings u/s. 153C is quashed by HC.
ANILUKMAR GOPIKISHAN AGRAWAL Vs ACIT
(2019) TaxCorp(LJ) 19450 (HC-GUJARAT) · Section 153C
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Non-intimation regarding assessee's death by legal representative, cannot invalidate AO's assessment orders.
V.Srinivasan Vs THE CIT
(2019) TaxCorp(LJ) 19449 (HC-MADRAS) · Section 159
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Service-tax component of insurance commission payment to agents will not require TDS deduction.
Reliance Life Insurance Co. Ltd Vs THE CIT
(2019) TaxCorp(LJ) 19448 (HC-BOMBAY)
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Interest is integral to refund when the same is not less than 10% of the tax as determined.
Neeraj Kumar Vs ITO
(2019) TaxCorp(LJ) 19447 (ITAT-AMRITSAR) · Section 271(1)(c)
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Since referral fees paid to US concern by assessee during AY 2012-13, neither FTS under Income-tax Act nor Fees for Included Services (FIS) under India-US DTAA. Therefore not taxable.
Knight Frank (India) Pvt. Ltd Vs ACIT
(2019) TaxCorp(LJ) 19446 (ITAT-MUMBAI) · Section 9
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There is no such provision either in the Act or even in the relevant Rules to round off the valuation of shares at the next rupee.
Shresth Dealers Pvt. Ltd Vs ITO
(2019) TaxCorp(LJ) 19445 (ITAT-KOLKATA) · Section 56(2)(viib)
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Since once the royalty was held to be at arm's length no further amount could be attributable. Therefore quashes AO's 'FTS / royalty' characterization of Dutch Co.'s income citing variance with APA.
Spencer Stuart International BV Vs DCIT
(2019) TaxCorp(LJ) 19434 (ITAT-MUMBAI) · Section 9(1)
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Discount earned on Foreign Currency Convertible Bonds [FCCBs] buyback by assessee co. is not a revenue reciept u/s. 28(iv).
Pidilite Industries Ltd Vs DCIT
(2019) TaxCorp(LJ) 19427 (ITAT-MUMBAI) · Section 28(iv)
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Deduction u/s.37(1) for gratuity payments made by assessee (a JV company between entities of Bharti Group and Vodafone Idea Limited) during AY 2009-10 is allowed.
Indus Towers Ltd Vs DCIT
(2019) TaxCorp(LJ) 19420 (ITAT-DELHI) · Section 37
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S. 9(1)(vi) Royalty: Payment for 'bandwith services' is not assessable as 'royalty' if the assessee only has access to services and not to any equipment. The assessee also did not have any access to any process which helped in providing of such bandwith services. All infrastructure & process required for provision of bandwith services was always used and under the control of the service provider and was never given either to the assessee or to any other person availing the said services
DCIT vs. Reliance Jio Infocomm Ltd
(2019) TaxCorp(LJ) 19413 (ITAT-MUMBAI) · Section9(1)(vi)
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S. 9(1)(vi) 'Royalty': The insertions of Explanations 5 & 6 to s. 9(1)(vi) by the Finance Act 2015 w.r.e.f. 01.04.1976, even if declaratory and clarificatory of the law, will not apply to the DTAAs. The DTAAs are a bilateral agreement between two Countries and cannot be overridden by a unilateral legislative amendment by one Country (New Skies Satellite BV 382 ITR 114 (Del) & Siemens AG 310 ITR 320 (Bom) followed)
CIT vs. Reliance Infocomm Ltd
(2019) TaxCorp(LJ) 19412 (HC-BOMBAY) · Section 9(1)(vi)
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The reasons are the soul and heartbeat of the orders without which the order is lifeless and void.
SRI DEEPAK DHANARAJ Vs THE INCOME TAX OFFICER
(2019) TaxCorp(LJ) 19406 (HC-KARNATAKA)
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Launch of prosecution proceedings u/s.276B against petitioner [a real estate co.] for failure to deposit the TDS deducted to the account of Central Government within the prescribed time-limit is upheld.
M/s. Golden Gate Properties Ltd Vs DCIT
(2019) TaxCorp(LJ) 19405 (HC-KARNATAKA) · Section 201
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ITAT order is upheld and deletes income addition of Rs. 85 cr. in the hands of assessee (a US company) despite invoices raised and services rendered to party.
Bechtel International Inc Vs The Commissioner of Income, InternationalTaxation-1
(2019) TaxCorp(LJ) 19404 (HC-BOMBAY)
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Disallowance of alleged bogus expenses in respect of professional charges debited to P&L account by assessee co. [engaged in IT System Audit and Allied Consultancy Services] for AY 2009-10 is deleted.
AAA Technologies Pvt. Ltd Vs Income Tax Officer
(2019) TaxCorp(LJ) 19403 (ITAT-MUMBAI)
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As the free services provided by the dealers to the ultimate customers was in discharge of the obligation cast upon the assessee-company towards the customers to provide such services, the payments were liable for TDS u/s. 194C, being in the nature of consideration pursuant to a contract.
Mahindra & Mahindra Ltd Vs Deputy Commissioner of Income Tax
(2019) TaxCorp(LJ) 19402 (ITAT-MUMBAI) · Section 194C
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Weighted deduction claimed by assessee-individual (a science graduate) u/s.35 (1)(ii) for the donation made to Shri Arvindo Institute of Applied Scientific Research Trust during AY 2014-15 is disallowed.
Shri Sudhakar Natarajan Vs The Deputy Commissioner of Income Tax
(2019) TaxCorp(LJ) 19401 (ITAT-CHENNAI) · Section 35(1)(ii)
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