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ITAT - When technicalities are pitted against the substantial justice, the course which advances substantial justice is to be preferred.
Shri Ram Nagar Trust Versus DDIT (Exemp) –I (1) , Mumbai
(2016) TaxCorp(LJ) 10316 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=49423&Category=ITAT&CategoryType=Zip
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ITAT - Payment made to manpower deployed overseas is in the nature of salary and no TDS is required to be made u/s. 195.
The DCIT, Mumbai Versus Mrs. Supriya Suhas Joshi
(2016) TaxCorp(LJ) 10315 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=49515&Category=ITAT&CategoryType=Zip
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ITAT - Sale of development rights under JDA agreement is to be taxable as long term capital gain and not as income from other sources. Deductions/exemptions u/s. 54 of the Act etc. will be allowed.
ITO Ward 21 (1) (1) , Mumbai Versus Shri Bharat Raojibhai Patel
(2016) TaxCorp(LJ) 10314 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=49516&Category=ITAT&CategoryType=Zip
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ITAT - Expenses for obtaining ISO certificates held as revenue in nature.
Red Chillies Entertainment Pvt. Ltd. Versus Asstt. Commissioner of Income Tax
(2016) TaxCorp(LJ) 10313 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=49517&Category=ITAT&CategoryType=Zip
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ITAT - Where investment in equity shares of a company incorporated outside India was made in violation of statutory provision, the assessee-institution is not entitled for approval under Section 10(23C)(vi).
M/s Karunya University Versus The Director of Income Tax (Exemptions)
(2016) TaxCorp(LJ) 10312 (ITAT-CHENNAI) · http://taxcorp.in/FileOpenDT.aspx?ID=49518&Category=ITAT&CategoryType=Zip
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HC - The reasons for reopening was merely to repeat the words of the statute that there has been a failure by assessee to disclose material particulars. This is certainly not sufficient as far as the legal requirement is concerned.
M/s Alcatel-Lucent France And Another Versus Assistant Director of Income Tax
(2016) TaxCorp(LJ) 10310 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=65195&Category=Judgment&CategoryType=Zip
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HC - With effect from 01.04.2003, by virtue of introduction of Section 28(va) to the Act, all monies received pursuant to a negative covenant (Non-compete) become liable for the incidence of taxation.
Commissioner of Income Tax, Chennai Versus M/s. TTK Healthcare Ltd. (formerly known as M/s. TTK Pharma Ltd)
(2016) TaxCorp(LJ) 10309 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=65386&Category=Judgment&CategoryType=Zip
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ITAT - It is not mandatory for AO to apply Rule 8D the moment he rejects assessee’s basis of disallowance.
Allahabad Bank vs. ACIT
(2016) TaxCorp(LJ) 10308 (ITAT-KOLKATA)
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ITAT - Provision for doubtful debts to be added for the purpose of computing book profit u/s 115JB.
Reliance Industries Limited vs. ACIT
(2016) TaxCorp(LJ) 10302 (ITAT-MUMBAI)
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ITAT - Set off of loss arising from derivative transactions allowed against profit on sale of property to assessee engaged in dealing of shares and property.
ITO. Vs. PKS Holdings
(2016) TaxCorp(LJ) 10301 (ITAT-KOLKATA)
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HC - Not correct to hold that for the purpose of sec. 80IB(10), all pre-construction activities should be taken to be part of development, so as to pre-pone the date of development and construction.
Ravi Appasamy vs. ACIT
(2016) TaxCorp(LJ) 10299 (HC-MADRAS) · Section. 80-IB
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ITAT - Share application money being distinct from share-capital, interest thereon would be ‘revenue’ in nature.
S.R. Thorat Milk Products Pvt. Ltd. vs. ACIT
(2016) TaxCorp(LJ) 10298 (ITAT-PUNE)
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Compensation awarded by the Motor Accident Claims Tribunal, and interest accruing thereon, is to ameliorate the sufferings of the victims and does not have the character of "income". If there is a conflict between a social welfare legislation and a taxation legislation, the social welfare legislation will prevail since it subserves larger public interest. CBDT Circular dated 14.10.2011 is not good law
Tamil Nadu State Transport Corporation (Salem) Ltd. vs. Chinnadurai
(2016) TaxCorp(LJ) 10297 (HC-MADRAS)
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Law on whether "installation or construction activity" constitutes a PE under Article 5 and whether "mobilisation/ demobilisation charges" can be treated as "royalty" u/s 9 (1) (vi) & Article 12 (3) (b) of the DTAA and whether "installation charges" could be treated as "Fees for Technical Services" under Explanation 2 below s. 9 (1) (vii) read with Article 12 (4) (a) of the India-Singapore DTAA explained
Technip Singapore Pte. Ltd. vs. DIT
(2016) TaxCorp(LJ) 10296 (HC-DELHI) · Section. 9 (1) (vi)
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ITAT - Onus is on revenue to prove unreasonableness for making disallowance u/s 40A(2). No disallowance where incentives passed on to sister concern not “unreasonable”.
ICICI Securities Ltd. vs. ACIT
(2016) TaxCorp(LJ) 10295 (ITAT-MUMBAI) · Section. 40A(2)
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ITAT - When the principal transaction i.e. compensation itself was not taxable, the subsidiary transaction i.e. interest for delay in paying such compensation is also not taxable.
Urvi Chirag Sheth vs. ITO
(2016) TaxCorp(LJ) 10294 (ITAT-AHMEDABAD) · Sections. 56(2), 145A
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S. 254(1): The Tribunal cannot consider new material or information which comes to the possession of the AO after passing the assessment order. The appellate procedure is designed to adjudicate matters that were originally framed in the assessment order and new material cannot be considered
H. K. Pujara Builders vs. ACIT
(2016) TaxCorp(LJ) 10292 (ITAT-MUMBAI) · Section 254(1)
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Penalty under Explanation 5A to s. 271(1)(c) cannot be levied on the basis of a mere surrender by the assessee if no incriminating material has been found during search. MAK Data 358 ITR 593 (SC) considered
Ajay Traders vs. DCIT
(2016) TaxCorp(LJ) 10291 (ITAT-JAIPUR) · Section 271(1)(c)
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ITAT - Parties have filed the confirmation letters, however the other ingredients of the section i.e. the genuineness of the transactions and creditworthiness of the parties remain in doubtful. Additions u/s 68 confirmed.
M/s. Bharat Motor Parcel Service Versus ACIT, Circle-1, Rajahmundry
(2016) TaxCorp(LJ) 10290 (ITAT-VISAKHAPATNAM) · http://taxcorp.in/FileOpenDT.aspx?ID=49304&Category=ITAT&CategoryType=Zip
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ITAT - Provision of Sec. 43B overrides the method of accounting consistently followed and provides for the deduction of statutory liabilities in the year of payment irrespective of the year in which the liability is incurred.
Deputy Commissioner of Income Tax Versus Gujarat Borosil Limited
(2016) TaxCorp(LJ) 10289 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=49302&Category=ITAT&CategoryType=Zip
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