All landmark rulings

1. Direct Tax ·ITAT Mumbai · 31 Mar 2016
   AO framed the assessment in a hypothetical way putting the assessee to enormous harassment and inconvenience . Similarly, the CIT(A) confirmed the addition without looking into the merits and facts of the cases which are very clear and apparent from the records produced.

   Mintu Sayermal Jain vs. ITO

   (2016) TaxCorp(LJ) 10066 (ITAT-MUMBAI)

2. Direct Tax ·ITAT Lucknow · 30 Mar 2016
   S. 115JA/115JB: Capital receipts (such as subsidy & carbon credits), which have no income element, have to be excluded from book profits even if credited to the P&L A/c

   ACIT vs. L. H. Sugar Factory Ltd

   (2016) TaxCorp(LJ) 10065 (ITAT-LUCKNOW) · Sections 115JA/115JB

3. Direct Tax ·ITAT Delhi · 30 Mar 2016
   Section 68- Cash Credit

   Hitender Pal Singh vs. ITO

   (2016) TaxCorp(LJ) 10064 (ITAT-DELHI) · Section 68

4. Direct Tax ·ITAT Delhi · 01 Apr 2016
   Whether subsequent decision of High Court reversing the view of the ITAT constitute mistake apparent from record

   Green Meadows Pvt Ltd vs. ITO

   (2016) TaxCorp(LJ) 10063 (ITAT-DELHI)

5. Direct Tax ·ITAT Delhi · 31 Mar 2016
   S. 271(1)(c): No penalty leviable on bonafide human error committed while filing return of income

   B. L. International vs. ACIT

   (2016) TaxCorp(LJ) 10062 (ITAT-DELHI) · Section 271(1)(c)

6. Direct Tax ·Kerala High Court · 01 Apr 2016
   HC - Revenue’s appeal dismissed in view of CBDT circular no. 21/2015 (Department's appeal before High Courts shall not be filed in cases where tax effect does not exceed monetary limit of Rs. 20 lakhs).

   CIT. vs. Lakshmikutty Narayanan

   (2016) TaxCorp(LJ) 10061 (HC-KERALA)

7. Direct Tax ·Karnataka High Court · 01 Apr 2016
   HC - Simply because the AOP couldn’t be taxed is not a valid ground to tax assessee- member in respect of distribution of AOP’s properties on its dissolution.

   Pr. CIT. vs. IND Sing Developers P. Ltd.

   (2016) TaxCorp(LJ) 10060 (HC-KARNATAKA)

8. Direct Tax ·Calcutta High Court · 01 Apr 2016
   HC - Settlement Commission has no powers u/s 154 for levying Sec 234B interest.

   Poddar Industrial Corporation vs. Income Tax Settlement Commission

   (2016) TaxCorp(LJ) 10059 (HC-CALCUTTA) · Sections. 154, 234B

9. Direct Tax ·ITAT Mumbai · 29 Mar 2016
   Mutuality - TDR Premium

   Hatkesh Co-op. Hsg. Society Ltd vs. ACIT

   (2016) TaxCorp(LJ) 10058 (ITAT-MUMBAI)

10. Direct Tax ·ITAT Mumbai · 30 Mar 2016
    Bogus Purchases: Theory that transaction "defies human probabilities" cannot be applied to purchases in isolation but has to be applied to the entire transaction in the light of documentary evidence produced by the assessee

    M/s. Maruti Impex vs. JCIT

    (2016) TaxCorp(LJ) 10057 (ITAT-MUMBAI)

11. Direct Tax ·ITAT Delhi · 31 Mar 2016
    ITAT - CUP is preferred over entity-TNMM for royalty benchmarking.

    JCB India Ltd. Vs. DCIT

    (2016) TaxCorp(LJ) 10056 (ITAT-DELHI) · Section. 37

12. Direct Tax ·Supreme Court · 31 Mar 2016
    SC - 3.5% of FOB value received as service charge from export houses is available for sec. 80HHC deduction for AY 1994-95.

    Southern Sea Foods vs. JCIT

    (2016) TaxCorp(LJ) 10055 (SC) · Section. 80HHC

13. Direct Tax ·Delhi High Court · 31 Mar 2016
    HC - CIT u/s 264 has revisionary powers to give relief to the assessee in a case where the assessee detracts mistakes because of which he was over-assessed.

    Vijay Gupta vs. CIT

    (2016) TaxCorp(LJ) 10054 (HC-DELHI) · Section. 264

14. Direct Tax ·Supreme Court · 30 Mar 2016
    SC - No TDS u/s 194J on transaction charges paid by stock exchange members to BSE as it does not qualify as 'fees for technical services'.

    Kotak Securities Ltd. vs. CIT

    (2016) TaxCorp(LJ) 10053 (SC)

15. Direct Tax ·ITAT Amritsar · 30 Mar 2016
    ITAT - Assessment order passed in violation of CBDT instruction dated September 8, 2010 is not valid.

    Gurpreet Kaur vs. ITO

    (2016) TaxCorp(LJ) 10052 (ITAT-AMRITSAR)

16. Direct Tax ·Delhi High Court · 30 Mar 2016
    HC - Even if no direction was issued by the DRP under Section 144C (5) of the Act, the fact that the DRP held that both the Petitioners were not ‘eligible Assessees’ could not have been ignored by the AO.

    ESPN Star Sports Mauritius S.N.C. ET Compagnie Vs The Union of India & ANR (now known as ESS Advertising (Mauritius) S.N.C et Co.

    (2016) TaxCorp(LJ) 10051 (HC-DELHI)

17. Direct Tax ·Delhi High Court · 30 Mar 2016
    HC - It would not be open for AO to subsequently hold that Assessee had failed to truly and fully disclose all material facts and reopen the assessment on the basis that he should have estimated PE income by adopting a different method.

    BBC Worldwide Limited vs. ADIT

    (2016) TaxCorp(LJ) 10050 (HC-DELHI)

18. Direct Tax ·Kerala High Court · 29 Mar 2016
    HC - Appeal dismissed in view of CBDT circular no. 21/2015 (Department's appeal before High Courts shall not be filed in cases where tax effect does not exceed monetary limit of Rs. 20 lakhs)

    CIT. Vs. Lakshmikutty Narayanan

    (2016) TaxCorp(LJ) 10049 (HC-KERALA)

19. Direct Tax ·ITAT Kolkata · 29 Mar 2016
    ITAT - Though Tribunal in first round did not use the words ‘set-aside’ or ‘cancel’ , it had effectively asked AO to make fresh exercise of assessment determining the total income. Time-barred assessment quashed u/s 153(2A).

    Sanjay Jaiswal Vs. DCIT

    (2016) TaxCorp(LJ) 10048 (ITAT-KOLKATA)

20. Direct Tax ·ITAT Mumbai · 29 Mar 2016
    ITAT - Advertising hoarding structures should be treated as ‘building’ eligible for depreciation @ 10%.

    Asian Advertising vs. ITO

    (2016) TaxCorp(LJ) 10047 (ITAT-MUMBAI)

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