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S. 147 Reopening of s. 143(1) intimation: The submission of the Dept that in view of Rajesh Jhaveri 291 ITR 500 (SC), the AO can reopen the assessment for "whatever reason" is preposterous. The AO cannot reopen on the basis of info received from DIT (Investigation) that a particular entity has entered into suspicious transactions without linking it to the assessee having indulged in activity which could give rise to reason to believe that income has escaped assessment. Such reopening amounts to a fishing inquiry. The AO has to apply his mind to the information received by him from the DDIT (Inv.) and cannot act on on borrowed satisfaction
PCIT vs. Shodiman Investments Pvt. Ltd
(2018) TaxCorp(LJ) 16080 (HC-BOMBAY) · Sections 143(1), 147
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ITAT - IPL sponsorship fees not allowable as assessee has not derived benefit of advertisement by way of displaying company logo.
M/s. GMR Projects P. Ltd Vs Asst. Commissioner of Income Tax
(2018) TaxCorp(LJ) 16079 (ITAT-BANGALORE)
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ITAT - Period of holding of ESOPs in the hands of employees to be reckoned in case of bought back by employer from the date of grant of ESOPs.
N R Ravikrishnan Vs Assistant Commissioner of Income Tax
(2018) TaxCorp(LJ) 16078 (ITAT-BANGALORE)
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ITAT - In absence of building plan approval, no exemption available u/s 54 on advance given for flat.
Jagdish Wadhwani Vs The Income Tax Officer
(2018) TaxCorp(LJ) 16077 (ITAT-JAIPUR) · Section 54
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ITAT - In the absence of evidence, sale of ‘penny stocks’ cannot result in LTCG exemption denial.
Vandana Sankhala Vs The Assistant Commissioner of Income Tax
(2018) TaxCorp(LJ) 16076 (ITAT-CHENNAI)
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ITAT - Salary is taxable only on accrual basis and it would accrue in USA as services were rendered in USA. Furnishing of TRC is applicable only when DTAA benefit is claimed.
Smt. Maya C Nair Vs ITO
(2018) TaxCorp(LJ) 16075 (ITAT-BANGALORE)
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HC - A single solitary sale transaction of agricultural land would not result in adventure in nature of trade, but is chargeable under capital gains.
JOHN POOMKUDY Vs THE PRINCIPAL COMMISSIONER OF INCOME TAX
(2018) TaxCorp(LJ) 16074 (HC-KERALA)
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S. 2(47) Transfer for Capital Gains: The fact that an agreement for sale of property is registered does not make it a conveyance. The sale or transfer is not complete on the date of the execution of the agreement if there are obligations to be fulfilled by both parties
PCIT vs. Talwalkars Fitness Club
(2018) TaxCorp(LJ) 16073 (HC-BOMBAY) · Section 2(47)
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Interpretation of statutes: Effect of repeal of a statute u/s 6 of the General Clauses Act on pending proceedings explained in the context of the Gold Control Act and in view of law laid down in State of Punjab vs. Mohar Singh [1955] 1 SCR 893, New India Assurance Co. Ltd. vs. C. Padma (2003) 7 SCC 713 etc
Sushila N. Rungta vs. TRO
(2018) TaxCorp(LJ) 16072 (SC)
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S. 9(1)(vi) Royalty/ 40(a)(i): Law explained on whether payment of web hosting charges to Amazon Web Services LLC (USA) (AWS) constitutes "royalty" under Explanation 2 to s. 9(1)(vi) read with the India USA DTAA and whether there is any obligation to deduct TDS thereon u/s 195
EPRSS Prepaid Recharge Services India P. Ltd vs. ITO
(2018) TaxCorp(LJ) 16071 (ITAT-PUNE) · Sections 9(1)(vi), 40(a)(i)
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ITAT - RPM is the most appropriate method in respect of distribution activities undertaken by the assessee under the international transaction of `Import of finished goods’.
FRESENIUS KABI INDIA PRIVATE LIMITED VERSUS THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1 (2), PUNE., THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1 (2), PUNE.
(2018) TaxCorp(LJ) 16069 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=68007&Category=ITAT&CategoryType=Zip
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ITAT - The activities of (1) making of certified seeds; (2) undertaking other processing activities and finally (3) trading of the said certified seeds are agricultural activity.
ITO, WARD-1 (2), /AURANGABAD, ACIT, CIRCLE-1/ AURANGABAD, DCIT, CIRCLE-1/ AURANGABAD VERSUS M/S. NATH BIO GENES (I) LTD.
(2018) TaxCorp(LJ) 16068 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=68009&Category=ITAT&CategoryType=Zip
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ITAT - ITAT allowed registration u/s 12AA without considering the observation of the CIT and through non-speaking order which is not valid.
THE COMMISSIONER OF INCOME TAX (EXEMPTIONS) , CHANDIGARH VERSUS M/S TARA RIPU DAMANPAL TRUST, KURUKSHETRA
(2018) TaxCorp(LJ) 16067 (HC-P&H) · http://taxcorp.in/FileOpenDT.aspx?ID=74526&Category=Judgment&CategoryType=Zip
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HC - The doctrine of merger would have no application as the subsequent order was held to be unsustainable in law. The said doctrine would apply only in a situation where the subsequent reassessment order has been held to be valid in law. where the reassessment order was annulled, the original assessment order would automatically get restored.
M/S THE PATIALA IMPROVEMENT TRUST, PATIALA VERSUS ASSISTANT COMMISSIONER OF INCOME TAX, PATIALA AND ANOTHER
(2018) TaxCorp(LJ) 16066 (HC-P&H) · http://taxcorp.in/FileOpenDT.aspx?ID=74527&Category=Judgment&CategoryType=Zip
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ITAT - Gains arising of n liquidation of stock under ESOP is taxable under the head ‘capital gains’ and not as ‘perquisite’.
Dr.Muthian Sivathanu Vs The ACIT
(2018) TaxCorp(LJ) 16065 (ITAT-DELHI)
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ITAT - No TDS u/s 195 for reimbursement made to US company for seconding employees in India as it is not FTS.
AT & T Communication Services (India) P. Ltd. Vs DCIT
(2018) TaxCorp(LJ) 16064 (ITAT-DELHI)
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S. 194C TDS: Law on whether the by-product allowed to be retained by the miller can be regarded as consideration 'paid' in kind by the procurement agency so as to create an obligation to deduct TDS thereon explained in the light of Kanchanganga Sea Foods Ltd. vs CIT 325 ITR 549 (SC) & other judgements
ITO (TDS) vs. The Distt. Manager, Punjab State Warehousing Corporation (ITAT Chandigarh)
(2018) TaxCorp(LJ) 16061 (ITAT-CHANDIGARH) · Section 194C
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S. 12A Charity Registration: Exemplary cost of Rs. 1 lakh levied upon trust for fraud in wrongly seeking exemption on basis that it is controlled & managed by the Govt. The ITAT is deemed to be a Civil Court and its proceedings are deemed to be judicial proceedings within the meaning of s. 193 & 228 & of the Indian Penal Code. Any attempt to play fraud on the ITAT by way of conveying wrong and false facts and pleadings is required to be strictly dealt with
Sri Dashmesh Academy Trust vs. CIT (Exemptions)
(2018) TaxCorp(LJ) 16060 (ITAT-CHANDIGARH) · Section12A
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S. 250/ 254: If a decision is challenged by the assessee both on the issue of jurisdiction as well as on merits, the appellate authority has to decide both issues. He cannot decline to decide one of the issues on the basis that the decision on the other issue renders it academic. This approach leads to multiplication of proceedings and leads to delay
ITO vs. Mohanraj Trading & Exchange
(2018) TaxCorp(LJ) 16059 (ITAT-MUMBAI) · Sections 250, 254
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The total callous, negligent and disrespectful behaviour shown by the Departmental authorities in this Court should not be tolerated at all. It is this kind of lack of judicial discipline which if it goes unpunished, will lead to more litigation and chaos and such public servants are actually a threat to the society. Commissioner (Appeals) should pay cost of Rs. 1 lakh from his personal funds
XLHealth Corporation India Pvt. Ltd. Vs. UOI
(2018) TaxCorp(LJ) 16058 (HC-KARNATAKA)
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