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S. 254(2): In an order passed in a Miscellaneous Application, the Tribunal cannot deal with the merits of the issue. The Tribunal must recall the original appellate order and refix the matter for hearing and pass an order u/s 254(1) of the Act
Safari Mercantile Private Limited vs. ITAT
(2016) TaxCorp(LJ) 10634 (HC-BOMBAY) · Section 254(2)
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S. 2(42A)/ 45: An agreement to purchase property merely creates a right to seek specific performance. The asset cannot be considered to be "held" from the date of the agreement so as to constitute long-term capital gains
Bindiya H. Malkani vs. CIT
(2016) TaxCorp(LJ) 10633 (HC-BOMBAY) · Sections 2(42A), 45
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ITAT - A.O. without pointing out any specific violations referred to in section 13(1)(c) or 13(1)(d), simply rejected benefit of exemption. A.O. was erred in denying exemption u/s 11.
Sri Koundinya Educational Society Versus Addl. CIT, Rajahmundry Range, Rajahmundry
(2016) TaxCorp(LJ) 10632 (ITAT-VISAKHAPATNAM) · http://taxcorp.in/FileOpenDT.aspx?ID=49866&Category=ITAT&CategoryType=Zip
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ITAT - No Set off of loss from settlement of forward contracts for foreign currency against income from ‘other sources’ as it a capital loss.
M/s. Citicorp Investment Bank (Singapore) Ltd. Versus Asstt. Director of Income Tax (International Taxation)
(2016) TaxCorp(LJ) 10631 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=49814&Category=ITAT&CategoryType=Zip
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ITAT - AO being quasi judicial authority has not initiated penalty proceedings in the assessment order. CIT u/s 263 cannot just substitute the authority of the AO with his opinion.
M/s Enfield Gems & Jewellery Ltd. Versus Commissioner of Income Tax
(2016) TaxCorp(LJ) 10630 (ITAT-KOLKATA) · http://taxcorp.in/FileOpenDT.aspx?ID=50046&Category=ITAT&CategoryType=Zip
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ITAT - Consideration received on sale of rights to get conveyance of flat in favour is to be treated as capital gain eligible for claim exemption u/s 54F.
ACIT – 19 (2), Mumbai Versus Ms. Jenifer Noshir Sanjana
(2016) TaxCorp(LJ) 10629 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=50152&Category=ITAT&CategoryType=Zip
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ITAT - Business Services Charges for providing Business Service Centre is income from Business and not from house property.
Jasubhai Business Services Pvt. Ltd. Versus The DCIT, Cir. 3 (2), Mumbai
(2016) TaxCorp(LJ) 10628 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=50153&Category=ITAT&CategoryType=Zip
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ITAT - Capital gain arising on sale of immovable property in Colombo is taxable in India subject to double taxation relief.
Mrs. Shalini Seekond Versus Income Tax Officer, Mumbai
(2016) TaxCorp(LJ) 10627 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=50154&Category=ITAT&CategoryType=Zip
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ITAT - In case of purchase of agriculture land in the name of assessee's wife, exemption u/s 54B would not available in favour of the assessee.
Shri Kamal Kant Kamboj Versus The ITO, Yamuna Nagar
(2016) TaxCorp(LJ) 10626 (ITAT-CHANDIGARH) · http://taxcorp.in/FileOpenDT.aspx?ID=50155&Category=ITAT&CategoryType=Zip
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HC - When entire claim was examined by the AO by calling upon the assessee to produce all supporting documents and materials. reopening of assessment cannot be allowed.
ARYAN ARCADE LTD. Versus DEPUTY COMMISSIONER OF INCOME TAX
(2016) TaxCorp(LJ) 10625 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=65643&Category=Judgment&CategoryType=Zip
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HC - Since the date of filing return of income and issuance of Sec 148 notice was prior to provisions of the Black Money Act coming into effect, the settlement applications were maintainable.
Arun Mammen and another vs. UOI and another
(2016) TaxCorp(LJ) 10623 (HC-MADRAS)
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ITAT - Neither AO nor CIT disclosed the basis of approval after the objection as raised by the assessee to the show cause notice u/s 142(2A) and hence order is a vitiated order.
M/s. Unitech Ltd. Versus Additional CIT, New Delhi And Vice-versa
(2016) TaxCorp(LJ) 10622 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=49897&Category=ITAT&CategoryType=Zip
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ITAT - Payments to subsidiary cannot be treated as pass through cost as it is not the payment from A.E to subsidiary of the assessee.
M/s. Lason India Pvt. Ltd. Versus Joint Commissioner of Income Tax, Company Range-II, Chennai
(2016) TaxCorp(LJ) 10621 (ITAT-CHENNAI) · http://taxcorp.in/FileOpenDT.aspx?ID=49406&Category=ITAT&CategoryType=Zip
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ITAT - Labour charges etc. paid in cash to be disallowed in absence of documentary evidences on the part of the assessee.
Pawar Patkar Construction Pvt. Ltd. Versus The Jt. Commissioner of Income Tax, Range -2, Nashik
(2016) TaxCorp(LJ) 10620 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=50105&Category=ITAT&CategoryType=Zip
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ITAT - Merely because additions have been confirmed in appeal or no appeal has been filed by assessee, it cannot be the sole ground for penalty u/s.271(1)(c).
The ACIT, Circle-1 (4), Ahmedabad Versus Shri Bhaubha Devisinh and Vice-Versa
(2016) TaxCorp(LJ) 10619 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=49896&Category=ITAT&CategoryType=Zip
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ITAT - Communication of latest trend in fashion cannot amount to providing technical service.
Textures & Weaves (India) Pvt. Ltd. vs. ACIT
(2016) TaxCorp(LJ) 10611 (ITAT-CHENNAI)
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ITAT - Exemption u/s 10(23B) available to the business of production, sale or marketing of khadi or products of village industries.
Punjab Khadi Mandal vs. ITO
(2016) TaxCorp(LJ) 10609 (ITAT-AMRITSAR) · Section. 10(23B)
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ITAT - Loss allowed on the basis of ‘mark to market’ open derivative contracts. Gain taxable on the balance (brought forward) contracts in its' entirety on settlement.
Mili Consultants & Investment Pvt. Ltd. vs. DCIT
(2016) TaxCorp(LJ) 10608 (ITAT-MUMBAI)
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ITAT - Income generated from letting out of the auditorium for conducting coaching classes is to be considered as income generated from the property held under the trust.
Association of Surgeons of India vs. DDIT
(2016) TaxCorp(LJ) 10607 (ITAT-CHENNAI) · Section. 11
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SC - Subsidy by way of refund of excise duty and interest for setting up new industrial undertaking is a capital receipt.
CIT. vs. Shree Balaji Alloys
(2016) TaxCorp(LJ) 10606 (SC)
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