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HC - The minimum number of units, namely 30 have been located, the Park becomes eligible to opt for the benefit under Section 80IA.
Devraj Infrastuctures Ltd. Versus Chairman/Member (Industrial Park)
(2017) TaxCorp(LJ) 13799 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=70292&Category=Judgment&CategoryType=Zip
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HC - To state that the partial stay granted by the Supreme Court would enure to the benefit of the petitioner even for filing income tax returns without AADHAAR is a plea, which is not sustainable and is liable to be rejected.
Mr. Thiagarajan Kumararaja Versus Union of India, The Central Board of Direct Taxes, The Income Tax Officer
(2017) TaxCorp(LJ) 13798 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=70294&Category=Judgment&CategoryType=Zip
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HC - Whether to segregate or not segregate two transactions (clubbing of two distinct revenue streams), is entirely a fact dependent exercise that cannot per se be treated as a question of law.
Commissioner of Income Tax (LTU) Versus M/s. ESPN Software India Ltd.
(2017) TaxCorp(LJ) 13797 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=70296&Category=Judgment&CategoryType=Zip
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SC - The expression “due” only means that a refund becomes due if there is an order under the Act which either reduces or waives tax or interest. It is of no matter that the interest that is waived is discretionary in nature. Claim of interest allowed.
M/s. K. Lakshmanya And Company Versus Commissioner of Income Tax & Another
(2017) TaxCorp(LJ) 13796 (SC) · http://taxcorp.in/FileOpenDT.aspx?ID=70299&Category=Judgment&CategoryType=Zip
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SC - When the collection is illegal, there is corresponding obligation on the revenue to refund such amount with interest in as much as they have retained and enjoyed the money deposited.
The Director of Income Tax (International Taxation) Versus M/s Set Satellite (Singapore) Pte. Ltd.
(2017) TaxCorp(LJ) 13795 (SC) · http://taxcorp.in/FileOpenDT.aspx?ID=70300&Category=Judgment&CategoryType=Zip
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HC - Explained law on CIT's revisionary power. CIT has powers u/s 263 in respect of issues which were subject matter of scrutiny in original assessment order. No merger with with CIT(A)'s order.
BSES Rajdhani Power Ltd. vs. PCIT
(2017) TaxCorp(LJ) 13794 (HC-DELHI)
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HC - Writ Dismissed - No permission for filing income- tax return without Aadhaar number.
Mr. Thiagarajan Kumararaja Vs. Union of India
(2017) TaxCorp(LJ) 13793 (HC-MADRAS)
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SC - Assessment in the hands of non-existing amalgamating company is void and not curable u/s 292B
Spice Enfotainment Vs. CIT
(2017) TaxCorp(LJ) 13792 (SC) · Section. 292B
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HC - Sec.80-IA benefit available once minimum number of units in accordance with the Industrial Park Scheme, 2008 located in industrial park. Commencement certificate is irrelevant.
Devraj Infrastuctures Ltd. Vs. CHAIRMAN/MEMBER(INDUSTRIAL PARK)
(2017) TaxCorp(LJ) 13791 (HC-GUJARAT) · Section. 80-IA
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ITAT - Business Centre Service charges - The appellant is held to be “deemed owner” of the property in question by virtue of Section 27(iiib) of the Act.
Income Tax Officer 8 (2) (3), Mumbai Versus Niyman Mall Management Co. Pvt. Ltd. And Vice-Versa
(2017) TaxCorp(LJ) 13790 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=59784&Category=ITAT&CategoryType=Zip
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ITAT - Capital gain u/s 50C - Where the date of the agreement fixing the amount of consideration and the date of registration regarding transfer of the capital asset in question are not the same, the value adopted or assessed or assessable by the stamp valuation authority on the date of agreement is to be taken for the purpose of full value of consideration.
Hansaben Bhaulabhai Prajapati Versus Income Tax Officer, Ward 3 (2) (2), Ahmedabad
(2017) TaxCorp(LJ) 13789 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=59785&Category=ITAT&CategoryType=Zip
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ITAT - Where assessee followed cash system of accounting and claimed TDS this year but income for the same has not been taken in gross receipts, credit of TDS allowed.
Chandra Shekhar Aggarwal Versus ACIT, Circle-61 (1), New Delhi
(2017) TaxCorp(LJ) 13788 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=59789&Category=ITAT&CategoryType=Zip
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HC - No Revision u/s 264 in case of non furnishing of books of account and other relevant material.
Shri Sanjay Kundu Versus Commissioner of Income Tax, Rohtak
(2017) TaxCorp(LJ) 13787 (HC-P&H) · http://taxcorp.in/FileOpenDT.aspx?ID=70258&Category=Judgment&CategoryType=Zip
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HC - No denial of deduction u/s 80-IC since AO’s conclusion that the profits were “more than ordinary” was based on surmises and conjectures.
Pr. Commissioner of Income Tax, Delhi-12 Versus Kuljeet Singh Kochar
(2017) TaxCorp(LJ) 13786 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=70259&Category=Judgment&CategoryType=Zip
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HC - While determining remuneration to partners u/s 40(b), interest income earned on the FDR of surplus funds cannot be considered as part of the income of the business.
Commissioner of Income Tax, Kota Versus M/s Allen Career Institute
(2017) TaxCorp(LJ) 13785 (HC-RAJASTHAN) · http://taxcorp.in/FileOpenDT.aspx?ID=70261&Category=Judgment&CategoryType=Zip
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ITAT - Interest u/s 234B/C is payable in respect of tax payable under MAT provisions.
Surya Roshni Ltd. Vs. DCIT
(2017) TaxCorp(LJ) 13784 (ITAT-DELHI) · Section. 234B/C
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ITAT - Re-opening not valid as supply of an extract of the ‘reasons to believe’ would not suffice the statutory obligation of making available the reasons to the assessee.
Ashik Ali Husain Ali Unwala Vs. ITO
(2017) TaxCorp(LJ) 13783 (ITAT-MUMBAI)
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HC - No Sec. 40(A)(3) disallowance in respect of cash purchases from individual agriculturist below prescribed-limit of Rs. 20,000.
Keerthi Agro Mills Vs. CIT
(2017) TaxCorp(LJ) 13782 (HC-KERALA) · Section. 40(A)(3)
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HC - Strikes down ICDS I, II, III, VI, VII, Part A of ICDS VIII as ultra vires of the Act as well as contrary to settled position of law laid down by Supreme Court.
Chamber of Tax Consultants Vs. Union Of India & Ors.
(2017) TaxCorp(LJ) 13781 (HC-DELHI)
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ITAT - Amount received for transfer of customers and business leads is to be taxed as 'business receipts' and not as 'slump sale' u/s. 50B.
L & T Finance Ltd. Vs. DCIT
(2017) TaxCorp(LJ) 13780 (ITAT-MUMBAI)
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