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HC - Sec. 11(6) can't be applied retrospectively to AYs prior to AY 2015-16. Depreciation claim of Trust allowed.
DIT. Vs. Medical Trust of the Seventh Day
(2017) TaxCorp(LJ) 13422 (HC-MADRAS)
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ITAT - A Primary Agricultural Credit Society registered under the Kerala Co-operative Societies Act, 1969 is entitled to the benefit of deduction u/s. 80P(2).
Income Tax Officer, Ward-3, Tirur Versus Edarikode Service Co-operative Bank Ltd. And Vice-Versa
(2017) TaxCorp(LJ) 13414 (ITAT-COCHIN) · http://taxcorp.in/FileOpenDT.aspx?ID=57457&Category=ITAT&CategoryType=Zip
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ITAT - As ‘Web Hosting Charges’ can safely be construed as a facility which is provided to facilitate hosting of a website, therefore, the fee provided by the assessee for availing such service cannot be characterized as a ‘as a fee for technical service’. No TDS u/s 194J.
Metro Shoes Ltd. Versus Income Tax officer (TDS) -2 (2) , Mumbai And Vice-Versa
(2017) TaxCorp(LJ) 13413 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=57461&Category=ITAT&CategoryType=Zip
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ITAT - The process of manufacturing DG sets does not involve mere ascending of parts but is actually a manufacturing process resulting in the manufacture of new product from the raw materials by giving them new properties. Deduction u/s 80IB allowed.
ACIT Circle-II, Faridabad Versus Sunil Parkash, Prop. M/s. Cromewell Industries And Vice-Versa
(2017) TaxCorp(LJ) 13412 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=57463&Category=ITAT&CategoryType=Zip
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ITAT - The object for which a statutory corporation, or any other body, association or institution is created is the crucial aspect for determining the eligibility for availing benefit u/s. 10(26B).
M/s. Lakshadweep Development Corporation Ltd. Versus The Assistant Commissioner of Income-tax, Circle-1 (2), Ernakulam
(2017) TaxCorp(LJ) 13411 (ITAT-COCHIN) · http://taxcorp.in/FileOpenDT.aspx?ID=57464&Category=ITAT&CategoryType=Zip
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HC - The non-compete fee cannot be termed as a camouflage or well- orchestrated plan to avoid tax recognizing taxpayer’s stature in advertising industry. Non-compete fee was a non-taxable capital receipt.
CIT. vs. Tara Sinha
(2017) TaxCorp(LJ) 13410 (HC-DELHI)
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HC - Writ allowed - It can happen that an income which was not earlier offered to tax is now withdrawn and, as a result, income is offered to tax before the ITSC. This will satisfy the requirement of Section 245C (1).
Unitech Wireless (Tamil Nadu) Pvt. Ltd. Vs. PCIT
(2017) TaxCorp(LJ) 13409 (HC-BOMBAY) · Section. 245C
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ITAT - Conditional grant received not to be reduced from the WDV of the plant & machinery for the purpose of allowance of depreciation as the same is in the nature of a financial arrangement and not subsidy.
Spectrum Coal & Power Ltd. vs. DCIT
(2017) TaxCorp(LJ) 13408 (ITAT-MUMBAI)
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ITAT - Since assessee has paid tax on tax and not claimed exemption u/s 10(10CC) , there can not be any disallowance u/s 40(a)(v).
Asstt. DIT, International Taxation-1 (1) Kolkata Versus M/s. Joy Partnership And Vice-Versa
(2017) TaxCorp(LJ) 13406 (ITAT-KOLKATA) · http://taxcorp.in/FileOpenDT.aspx?ID=57439&Category=ITAT&CategoryType=Zip
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ITAT - Amendment was made by Finance Act, 2012 w.r.e.f. 01.6.1976. Amendment made with retrospective effect cannot fasten liability on the assessee.
Alok Industries Limited Versus Dy. CIT, (TDS) 1 (1), Mumbai
(2017) TaxCorp(LJ) 13405 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=57441&Category=ITAT&CategoryType=Zip
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ITAT - Bogus purchases sought to be taxed based on of list of hawala operators published by Maharashtra Sales-tax Department. Addition u/s 69C of reasonable net profit of 12.5% on total bogus purchases would be sufficient.
Dy. CIT, 14 (1) (2) , Mumbai Versus M/s Fagioli India Pvt Ltd.
(2017) TaxCorp(LJ) 13403 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=57448&Category=ITAT&CategoryType=Zip
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HC - Direct Tax Dispute Resolution Scheme, 2016 - Scope of the term "tax arrear" - It would include the amount of tax, interest or penalty and would be treated as a tax arrear if against such determination, appeal is pending before the appellate Commissioner on the specified date.
Parbatbhai J Golakia Huf Versus Principal Commissioner of Income Tax-1
(2017) TaxCorp(LJ) 13402 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=69740&Category=Judgment&CategoryType=Zip
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HC - Merely because there was no legal obligation to incur such expenditure would not mean that the same was not allowable business expenditure if it could be pointed out that the expenditure incurred in preserving the business connections and goodwill of business.
Principal Commissioner of Income Tax-1 Versus Kalupur CommerciaL Co-OP. Bank Ltd.
(2017) TaxCorp(LJ) 13401 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=69741&Category=Judgment&CategoryType=Zip
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ITAT - Indian group company undertook agency activities for other entities and was also engaged in procuring/producing and supplying programs and acted as licensee for certain channels, to be treated as an independent agent, not PE for Dutch counterpart.
International Global Networks BV vs. ADIT (International Taxation)
(2017) TaxCorp(LJ) 13399 (ITAT-MUMBAI)
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HC - Since non-compete arrangement was only a smoke screen, payment to be treated as revenue receipt.
CIT. Vs. R. Radikaa and Radaan Media Works India Ltd.
(2017) TaxCorp(LJ) 13398 (HC-MADRAS)
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ITAT - TDS u/s 194J OR 194I - No Tax Deduction at Source on payments towards internet & communication charges.
Destimoney Securities Pvt. Ltd. Versus The Income Tax Officer (TDS) (OSD) -1 (3), Mumbai
(2017) TaxCorp(LJ) 13397 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=57422&Category=ITAT&CategoryType=Zip
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ITAT - Set off of losses with the surrendered income - The amendment to Section 115BBE is explained and has been stated that this amendment will take effect from 1st April, 2017 and will, accordingly, apply in relation to the assessment year 2017-18 and subsequent years.
The Asst. Commissioner of Income-tax, Central Circle-2, Jaipur Versus M/s Sanjay Bairathi Gems Ltd.
(2017) TaxCorp(LJ) 13396 (ITAT-JAIPUR) · http://taxcorp.in/FileOpenDT.aspx?ID=57429&Category=ITAT&CategoryType=Zip
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HC - Reopening of assessment valid even after omission to mention Section 143(2) literally in any one of the notices issued to the assessee.
Padinjarekara Agencies Pvt. Ltd. Versus The Commissioner of Income Tax, Kottayam
(2017) TaxCorp(LJ) 13395 (HC-KERALA) · http://taxcorp.in/FileOpenDT.aspx?ID=69723&Category=Judgment&CategoryType=Zip
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HC - Withdrawal of interest granted u/s 244A as assessee’s declaration for settlement of dispute under the Kar Vivad Samadhan Scheme, 1998 in respect of departmental appeal was accepted.
Vijay Kumar Jain vs. CIT
(2017) TaxCorp(LJ) 13390 (HC-P&H) · Section. 244A
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ITAT - Recording a satisfaction u/s 14A(2) is a condition precedent to invoke Rule 8D to compute disallowance u/s 14A.
Smartchem Technologies Ltd. vs. ACIT
(2017) TaxCorp(LJ) 13389 (ITAT-MUMBAI)
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