All landmark rulings

21,598 rulings

Desk: Both Direct Tax GST

Direct Tax ·ITAT Ahmedabad · 23 Mar 2019
Non-taxable capital receipt vs. Business Profits: Test of human probabilities has to be applied to decide whether what is apparent is real. Tax authorities are not required to put on blinkers while looking at documents. They are entitled to look into the surrounding circumstances to find out the reality. The agreement has to make commercial sense. The plea that "coining of concept" is a valuable right worth Rs. 10 cr is too naive & beyond human probabilities to merit judicial acceptance
Ashish Tandon vs. ACIT
(2019) TaxCorp(LJ) 16891 (ITAT-AHMEDABAD)
Direct Tax ·Madras High Court · 22 Mar 2019
HC - In case of JDA, capital gains on property transferred by the land owner would accrue in the year in which approval was received from development authority and not in year in which license was given to the developer.
Shri.R.J.V.Kaiwar Vs Principal Commissioner of Income Tax 6
(2019) TaxCorp(LJ) 16886 (HC-MADRAS)
Direct Tax ·Madras High Court · 22 Mar 2019
HC - Interest under hire purchase to be recognised on EMI basis and not on Sum of Digit basis based on books of accounts.
M/s. Sundaram Finance Limited Vs The Assistant Commissioner of Income Tax
(2019) TaxCorp(LJ) 16885 (HC-MADRAS)
Direct Tax ·Delhi High Court · 22 Mar 2019
HC - Compensation payment to prospective buyers for surrender of allotted commercial spaces by builder is allowable business expenditure.
GOPAL DAS ESTATES & HOUSING PVT.LTD Vs COMMISSIONER OF INCOME TAX
(2019) TaxCorp(LJ) 16884 (HC-DELHI)
Direct Tax ·ITAT Bangalore · 22 Mar 2019
ITAT - Exemption u/s 11 available to BDA for providing concessional housing to economically weaker sections.
Bangalore Development Authority Vs The Additional Commissioner of Income Tax
(2019) TaxCorp(LJ) 16883 (ITAT-BANGALORE) · Section 11
Direct Tax ·ITAT Kolkata · 22 Mar 2019
ITAT - Future development expense allowable to the real estate developer in respect of completed projects based on the project completion method.
M/s. Ashiana Housing Limited Vs DCIT
(2019) TaxCorp(LJ) 16882 (ITAT-KOLKATA)
Direct Tax ·ITAT Ahmedabad · 22 Mar 2019
ITAT - A salaried individual cannot claim deduction u/s. 24 for the whole amount of interest in respect co-owned property 'let-out' to mother.
Shri Hitesh H Budhbhatti Vs ITO
(2019) TaxCorp(LJ) 16881 (ITAT-AHMEDABAD) · Section 24
Direct Tax ·ITAT Cochin · 22 Mar 2019
ITAT - There is no justiﬁcation for treating the whole gross receipts of foreign income instead of gross total income earned from foreign sources so as to grant deduction u/s. 80-RR.
Prof. Gopinath Muthukad, Muthukad Magical Entertainers Vs The Income Tax Officer
(2019) TaxCorp(LJ) 16880 (ITAT-COCHIN) · Section 80-RR
Direct Tax ·Madras High Court · 22 Mar 2019
HC - Reopening quashed since two alleged lacunae or irregularities could not be a sufficient reason for issuing a repeat (2nd) Notice u/s 148.
DEPUTY COMMISSIONER OF INCOME TAX VERSUS GAY TRAVELS (P) LIMITED
(2019) TaxCorp(LJ) 16879 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=76041&Category=Judgment&CategoryType=Zip
Direct Tax ·ITAT Mumbai · 22 Mar 2019
ITAT - The new system of e-filing of appeals before learned CIT(A) were introduced by Revenue only wef 01.03.2016 and the assessee filed his appeal before learned CIT(A) on 12.04.2016 manually but the said appeal was filed within time limit prescribed u/s 249(2) of the 1961 Act.
MR. UMESH A MISHRA VERSUS ITO 10 (3) (3) , MUMBAI
(2019) TaxCorp(LJ) 16877 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=71102&Category=ITAT&CategoryType=Zip
Direct Tax ·ITAT Delhi · 22 Mar 2019
ITAT - CIT(A) has no power to adjudicate the issue by introducing a new source of income and his order has to be confined to those items of income which is subject matter of original assessment.
ACIT, CENTRAL CIRCLE-15, NEW DELHI. VERSUS VERSATILE POLYTECH P. LTD., NEW DELHI. AND (VICE-VERSA)
(2019) TaxCorp(LJ) 16876 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=71104&Category=ITAT&CategoryType=Zip
Direct Tax ·ITAT Delhi · 22 Mar 2019
ITAT - (i) Provisions of section 68 has been held can’t be applicable to mere share sale which is not akin to receipt of gift, loan, share capital, advance etc (ii) bank account can’t be loosely called as books of account u/s 68 (iii) ITAT at belated stage can’t improve the order of AO and covert the addition from section 68 to section 69A etc.
VINESH MAHESWARI, RIMA MAHESWARI AND ITO, WARD 61 (2) (3), NEW DELHI
(2019) TaxCorp(LJ) 16875 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=71105&Category=ITAT&CategoryType=Zip
Direct Tax ·Madras High Court · 21 Mar 2019
HC - The application of Sec. 192 relating to TDS provisions, is 'uniform' and not aﬀected by 'religious character' of the recipient of income.
The Society of Mary Immaculate (Tamil Nadu) Vs Union of India
(2019) TaxCorp(LJ) 16874 (HC-MADRAS)
Direct Tax ·Madras High Court · 20 Mar 2019
HC - Income-tax Department should consider taking action against colleges on account of capitation fees paid by assessee-parent, instead of punishing parents.
Shri R.Bhoopathy Vs The Commissioner of Income Tax
(2019) TaxCorp(LJ) 16873 (HC-MADRAS)
Direct Tax ·ITAT Kolkata · 20 Mar 2019
ITAT - Adhoc disallowance of 30% made by the AO out of business promotion expenses without making any enquiry whatsoever from the parties to whom the said expenses were paid by the assessee is not sustainable.
ACIT, CIRCLE - 31 KOLKATA VERSUS M/S. AB CAPITAL
(2019) TaxCorp(LJ) 16871 (ITAT-KOLKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=71079&Category=ITAT&CategoryType=Zip
Direct Tax ·ITAT Mumbai · 20 Mar 2019
ITAT - Addition u/s 14A - The onus was on AO to reject the assessee’s computations and record a finding as to how those computations were not satisfactory. The failure to do so oust the jurisdiction of AO to apply Rule 8D.
PURVAG COMMODITIES & DERIVAT IVES PVT. LTD. VERSUS ACIT-10 (3) (2), MUMBAI
(2019) TaxCorp(LJ) 16870 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=71082&Category=ITAT&CategoryType=Zip
Direct Tax ·ITAT Mumbai · 20 Mar 2019
ITAT - Computation of short term capital gains on sale of various office premises at WDV taken as per The Companies Act as against Income Tax Act is a bonafide computational error - Same could not be termed as furnishing of inaccurate particulars of income which justifies imposition of penalty u/s 271(1)(c).
CONCRETE IDEAS REAL TORS PVT. LTD. VERSUS ITO-12 (1) (4), MUMBAI
(2019) TaxCorp(LJ) 16869 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=71083&Category=ITAT&CategoryType=Zip
Direct Tax ·ITAT Mumbai · 20 Mar 2019
ITAT - Property tax and other payment made to BMC could not be said to have been incurred wholly and exclusively in connection with the transfer of the property in terms of Section 48.
SMT. MUNISHA D. AHUJA VERSUS ASSISTANT COMMISSIONER OF INCOME TAX- CIRCLE-17 (2) MUMBAI.
(2019) TaxCorp(LJ) 16868 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=71084&Category=ITAT&CategoryType=Zip
Direct Tax ·ITAT Ahmedabad · 19 Mar 2019
ITAT - Agreement for sale of 'technical concept' is not capital receipt and taxable under the head income from other sources'.
Ashish Tandon Vs Assistant Commissioner of Income Tax
(2019) TaxCorp(LJ) 16867 (ITAT-AHMEDABAD)
Direct Tax ·Bombay High Court · 20 Mar 2019
HC - Where substantial question of law relating to penalty u/s 271(1)(c) is pending before High Court, there would be no question of launching prosecution.
M. SURESH COMPANY PVT LTD. VERSUS PR. COMMISSIONER OF INCOME TAX -5
(2019) TaxCorp(LJ) 16866 (HC-BOMBAY) · https://taxcorp.in/FileOpenDT.aspx?ID=76022&Category=Judgment&CategoryType=Zip

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