-
HC - Revised returns filed by assessee companies pursuant to NCLT approved amalgamation beyond the prescribed time limit u/s. 139(5) are valid.
Dalmia Power Limited Vs Assistant Commissioner of Income-Tax Circle 1
(2019) TaxCorp(LJ) 19215 (HC-MADRAS) · Section 139(5)
-
ITAT - Accommodation entries - Presumption of Section 132(4A) stood against the assessee and complete onus to negate the same was on assessee which has remain undischarged - Addition justified.
RAJENDRA P. JAIN VERSUS DCIT-CENTRAL CIRCLE-1 (3), MUMBAI
(2019) TaxCorp(LJ) 19214 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=74995&Category=ITAT&CategoryType=Zip
-
ITAT - Reopening of assessment u/s 147 - Unless in the order u/s 147 the AO makes addition on the ‘foundational’ issue for which the reason was recorded, the AO is not permitted to make addition in respect of ‘any other issue’ for which reason was not recorded prior to issue of the notice.
DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-12 (1) , KOLKATA VERSUS M/S. DOTEX MERCHANDISE PVT. LTD. AND (VICE-VERSA)
(2019) TaxCorp(LJ) 19213 (ITAT-KOLKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=74996&Category=ITAT&CategoryType=Zip
-
ITAT - Information is not synonymous to truth - AO simply on the basis of the investigation report of DIT (Inv.) has jumped into conclusion that there is an escapement of income which is erroneous since it does not satisfy the jurisdictional fact and law for reopening as envisaged u/s. 147.
SHRI UDIT KUMAR DUGAR VERSUS INCOME-TAX OFFICER, WARD-36 (4), KOLKATA
(2019) TaxCorp(LJ) 19212 (ITAT-KOLKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=74997&Category=ITAT&CategoryType=Zip
-
ITAT - AO had made the enquiry or verification as required in the facts of the case to ascertain the applicability of section 2(22)(e) - Revision u/s 263 not valid.
M/S. MANIPUR TEA CO. PVT. LIMITED VERSUS PRINCIPAL COMMISSIONER OF INCOME TAX, KOLKATA
(2019) TaxCorp(LJ) 19211 (ITAT-KOLKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=74998&Category=ITAT&CategoryType=Zip
-
HC - Since assessee revised income voluntarily before he was confronted with the incorrect claim as original declaration of income suffered from a bonafide unintended error, no penalty u/s 271(1)(c).
THE PRINCIPAL COMMISSIONER OF INCOME TAX-18 VERSUS M/S. PADMINI TRUST
(2019) TaxCorp(LJ) 19210 (HC-BOMBAY) · https://taxcorp.in/FileOpenDT.aspx?ID=78591&Category=Judgment&CategoryType=Zip
-
HC - Grandfathering clause under amended India-Mauritius DTAA provides that the gain arising from sale of shares in an Indian Co. acquired on or before 31.3.2017, could not be taxed in India - AO's Sec. 197 order denying 'Nil' withholding tax certificate to assessee quashed.
Indostar Capital Vs Asst. Commissioner of Income Tax
(2019) TaxCorp(LJ) 19209 (HC-BOMBAY) · Section 197
-
HC - Exemption u/s 54F would be available on transfer of residential unit in Co-operative Housing Society which is constructed on a leased land.
Shri Rahul Uday Tuljapurkar Vs Shri Rahul Uday Tuljapurkar
(2019) TaxCorp(LJ) 19208 (HC-BOMBAY) · Section.54F
-
ITAT - Export commission paid to the non-residents for procuring orders as well as to coordinate and check the quality of goods constitutes FTS u/s 9(1)(vii) - Sec.40(a)(i) disallowance for TDS default upheld.
Hical Infra Pvt. Ltd Vs The Income Tax Officer
(2019) TaxCorp(LJ) 19207 (ITAT-BANGALORE)
-
HC - Reassessment u/s 147 - Return filed by the petitioner was not taken up for scrutiny initially, and only an intimation under Section 143(1) has been issued, it is of the view that the assumption of jurisdiction in this case cannot be faulted, particularly since the respondent has, in the reasons for re-opening, cited tangible material upon which he rests his belief of escapement of income.
MR. DHIRAJ BHANSALI PARTNER, M/S. SHA RIKHABDAS MADAJI & CO VERSUS INCOME-TAX OFFICER, NON-CORPORATE WARD 6 (3), CHENNAI
(2019) TaxCorp(LJ) 19206 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=78579&Category=Judgment&CategoryType=Zip
-
HC - Re-assessment u/s 147 -Assessing Authority cannot have a mere re-appreciation of the same facts or a review of existing material on a mere change of opinion and take a different view of the matter and he is not permitted to undertake the re-assessment proceedings. - limitation of 4 years is a protection of whimsical and arbitrary re-assessment proceedings.
DEPUTY COMMISSIONER OF INCOME-TAX VERSUS VISVAS PROMOTERS (P) LTD.
(2019) TaxCorp(LJ) 19205 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=78580&Category=Judgment&CategoryType=Zip
-
HC - Registration u/s 12AA - While considering registration u/s 12AA, the CIT(E) was required only to determine the objects of the society which undoubtedly were charitable in nature. - no substantial question of law arises
THE COMMISSIONER OF INCOME TAX (EXEMPTIONS) , CHANDIGARH VERSUS M/S VISHWAYATAN YOGASHRAM
(2019) TaxCorp(LJ) 19204 (HC-P&H) · https://taxcorp.in/FileOpenDT.aspx?ID=78582&Category=Judgment&CategoryType=Zip
-
HC - Provisions of Section 45(4) would not be attracted on the retirement of the two partners and consequential allotment of their share in the assets in the Assessee Firm.
M/S. NATIONAL COMPANY VERSUS THE ASSISTANT COMMISSIONER OF INCOME TAX BUSINESS CIRCLE – I [I/C] CHENNAI.
(2019) TaxCorp(LJ) 19203 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=78583&Category=Judgment&CategoryType=Zip
-
HC -Scope of amendment in 115JB by Finance Act, 2012 - Sub-section 115JB as it stood prior to its amendment by virtue of Finance Act, 2012, would not be applicable to a banking company.
THE COMMISSIONER OF INCOME TAX-LTU, COMMISSIONER OF INCOME TAX (IT) -3 VERSUS UNION BANK OF INDIA, MASHREQ BANK PSC, BANK OF INDIA, M/S THE NEW INDIA ASSURANCE CO. LTD., CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK
(2019) TaxCorp(LJ) 19202 (HC-BOMBAY) · https://taxcorp.in/FileOpenDT.aspx?ID=78584&Category=Judgment&CategoryType=Zip
-
HC - Stay of demand - Normal formula contained in CBDT circular of collecting 20% disputed tax pending appeal, cannot be applied in the present case - Directed to deposit 50% disputed tax.
BHARAT J. PATEL. VERSUS DY. COMMISSIONER OF INCOME TAX-4 (1) (1) & ORS.
(2019) TaxCorp(LJ) 19201 (HC-BOMBAY) · https://taxcorp.in/FileOpenDT.aspx?ID=78586&Category=Judgment&CategoryType=Zip
-
S. 14A Rule 8D disallowance of shares held as stock-in-trade: Though Maxopp Investment 402 ITR 640 (SC) rejects the theory of dominant purpose in making investment, it makes a clear distinction between dividend earned on shares acquired for controlling interest & shares purchased as stock-in-trade. In the case of the latter, it is only by a quirk of fate that the shares were held by the assessee when the dividend was declared. Accordingly, s. 14A & Rule 8D do not apply to shares held as stock-in-trade
Nice Bombay Transport (P) Ltd vs. ACIT
(2019) TaxCorp(LJ) 19200 (ITAT-DELHI) · Section 14A
-
Section 54F is a beneficial provision and should be liberally interpreted. An assessee who has purchased a house property is entitled to exemption u/s 54F despite the fact that construction activities of the new house has started before the date of sale of the original asset (Bharti Mishra 265 CTR 374 (Del) & Kuldeep Singh 270 CTR 561 (Del) followed)
Kapil Kumar Agarwal vs. DCIT
(2019) TaxCorp(LJ) 19199 (ITAT-DELHI) · Section 54F
-
ITAT - When both the old as well as new unit were producing independent and distinct product then mere common management does not disentitle new EOU from Sec.10B deduction.
GE Motors India Pvt. Ltd Vs DCIT
(2019) TaxCorp(LJ) 19192 (ITAT-DELHI) · Section 10B
-
ITAT - No TDS on subscription charges for the software paid to US company is not taxable under Article 12 of India-USA DTAA DTAA.
Microfinish Pumps Private Limited Vs The Assistant Commissioner of Income Tax
(2019) TaxCorp(LJ) 19191 (ITAT-BANGALORE)
-
ITAT - Customer Relationship Rights are in the nature of non-compete fee - Depreciation allowable as goodwill.
Incap Manufacturing Service Pvt. Ltd Vs Deputy Commissioner of Income-tax
(2019) TaxCorp(LJ) 19190 (ITAT-BANGALORE)
Headnote lines are open to everyone. The full headnote and the judgment text open with a subscription — see plans or sign in.