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ITAT - Where technical services are not ‘made available’, payment not FTS under India-UK DTAA.
Interroute Communications Limited vs. DDIT
(2016) TaxCorp(LJ) 10086 (ITAT-MUMBAI)
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ITAT - Assessment on assessee u/s 163 in capacity of an agent valid even subsequent order against non-resident.
DDIT. vs. Air India Limited- as an agent of Carbijet Inc.
(2016) TaxCorp(LJ) 10085 (ITAT-MUMBAI)
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HC - Application software is distinct from system software as it has to be constantly updated due to rapid advancements in technology and increasing complexity of the features. Deduction available.
Indian Aluminium Company Ltd. vs. CIT
(2016) TaxCorp(LJ) 10084 (HC-CALCUTTA)
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HC - Deduction u/s 80P available to assessee registered as primary agricultural credit society under Kerala Cooperative Society Act, 1969.
Chirakkal service co-operative bank Ltd. vs. CIT
(2016) TaxCorp(LJ) 10083 (HC-KERALA)
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HC - Payment of damages to lessor for encroachment of land under the lease agreement is allowable as revenue expenditure u/s 37(1).
Mundial Export Import Finance (P) Ltd. vs. CIT
(2016) TaxCorp(LJ) 10082 (HC-CALCUTTA) · Section. 37(1)
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ITAT - Since assessee has treated securities as investment and not as stock in trade in all the years, consistency' principle of CBDT Circular 6/2016 applicable. Revenue not permitted to take a contrary view.
DCIT. Vs. Mahender Kumar Bader
(2016) TaxCorp(LJ) 10081 (ITAT-JAIPUR)
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ITAT - Unabsorbed depreciation is not a loss but allowances under section 32. Sec 79 is inapplicable to set off and carry forward of unabsorbed depreciation.
Swiss Re Healthcare Services P. Ltd. vs. PCIT
(2016) TaxCorp(LJ) 10080 (ITAT-BANGALORE) · Section. 79
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Transfer Pricing - alleged excess investment in share capital of wholly owned subsidiary cannot be termed as loan and notional interest charged thereon
Topsgrup Electronic Systems v ITO
(2016) TaxCorp(LJ) 10079 (ITAT-MUMBAI)
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S. 271(1)(c): If show-cause notice does not delete inappropriate words whereby it was not clear as to whether the default is concealing particulars of income or for furnishing inaccurate particulars of income, the levy of penalty is inv
Sanghavi Savla Commodity Brokers Pvt Ltd vs. ACIT
(2016) TaxCorp(LJ) 10078 (ITAT-MUMBAI) · Section 271(1)(c)
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HC - Quasi judicial power u/s 127(2) must be exercised in public interest by affording due opportunity to the affected party i.e. the assessee. Centralisation of cases without disclosing reasons not justified.
Shri Mul Chand Malu vs. UOI
(2016) TaxCorp(LJ) 10077 (HC-GAUHATI) · Section. 127
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ITAT - Interest u/s 201(1A) for TDS default on pension payments made by assessee-university is payable only from the first day of the assessment year.
ACIT. Vs. Andhra University
(2016) TaxCorp(LJ) 10076 (ITAT-VISAKHAPATNAM)
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ITAT - Amount paid by assessee to a US company for rendering engineering services of review of designs and construction audit of cranes is neither FTS’) nor FIS either under the Act or India-US DTAA.
Gujarat Pipavav Port Ltd. vs. ITO, (International Taxation)
(2016) TaxCorp(LJ) 10075 (ITAT-MUMBAI)
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HC - Reappreciation and reappraisal of the same factual material by CIT u/s 263 is impermissible.
CIT. vs. Reliance Communication Ltd.
(2016) TaxCorp(LJ) 10074 (HC-BOMBAY)
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ITAT - Income (corporate guarantee fee) clearly arises in France because the guarantee has been given by a French company to a French Bank, in France.
Capgemini S.A. vs ADIT
(2016) TaxCorp(LJ) 10073 (ITAT-MUMBAI)
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ITAT - If the AO has not initiated penalty proceedings u/s 271(1)(c) in respect of a particular item of addition in the draft assessment order, he cannot do so in the final assessment order.
DCIT. Vs. Symantic Software Solution Pvt. Ltd.
(2016) TaxCorp(LJ) 10072 (ITAT-MUMBAI)
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ITAT - Total income computed in accordance with provisions of the Act, except provisions of Sec 36(1)(viia) and Chapter VIA alone to be considered for the purpose of calculating the amount of deductionu/s 36(1)(viia).
Canara Bank vs. JCIT, ACIT
(2016) TaxCorp(LJ) 10071 (ITAT-BANGALORE)
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HC - Compensation received by assessee- company on termination of Share Purchase agreement was a ‘revenue’ receipt.
Avantor Performance Materials India Limited vs. CIT
(2016) TaxCorp(LJ) 10070 (HC-HP)
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S. 9(1)(vii)/ 40(a)(ia)/ 194J: “Technical services” & “Managerial and Consultancy service” denotes services that cater to special & exclusive needs of the consumer/user. A "facility", even if termed as a service, which is available to all users, does not come within the ambit of “technical services” in Explanation 2 of s. 9(1)(vii)
CIT vs. Kotak Securities Ltd
(2016) TaxCorp(LJ) 10069 (SC) · Sections 9(1)(vii), 40(a)(ia), 194J
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S. 37(1): Distinction between "application software" and "system software" explained. Expenditure on "application software" is revenue as it allows efficient carrying on of business and requires to be constantly updated due to rapid advancements in technology and increasing complexity of the features
Indian Aluminum Company vs. CIT
(2016) TaxCorp(LJ) 10068 (HC-CALCUTTA) · Section 37(1)
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S. 263 revision cannot be initiated to conduct roving inquiries whether share application money share premium constitute undisclosed income
Rachana Finance & Investments Pvt Ltd vs. CIT
(2016) TaxCorp(LJ) 10067 (ITAT-MUMBAI) · Section 263
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