All landmark rulings

1. Direct Tax ·ITAT Delhi · 18 Feb 2016
   ITAT - Liaison office of a Japanese company cannot be regarded as fixed place PE in India.

   Kawasaki Heavy Industries Ltd. vs. ACIT

   (2016) TaxCorp(LJ) 9939 (ITAT-DELHI)

2. Direct Tax ·ITAT Delhi · 19 Feb 2016
   ITAT - Income derived by assessee (a US entity) from construction project should be taxed as business income, not FTS.

   DDIT. vs. MSV International Inc

   (2016) TaxCorp(LJ) 9938 (ITAT-DELHI)

3. Direct Tax ·Bombay High Court · 18 Feb 2016
   HC - Receipt of non-compete amount in tranches before retirement and also before the date of non-compete agreement is axable as profit in lieu of salary u/s 17(ii).

   B. L. Shah vs ACIT

   (2016) TaxCorp(LJ) 9937 (HC-BOMBAY)

4. Direct Tax ·ITAT Mumbai · 19 Feb 2016
   ITAT - No penalty u/s 271C where assessee did not deduct TDS relying upon CA’s certificate u/s 195.

   ADIT. vs. Leighton Welspun Contractors P. Ltd.

   (2016) TaxCorp(LJ) 9935 (ITAT-MUMBAI) · Section. 271C

5. Direct Tax ·Delhi High Court · 16 Feb 2016
   Pursuant to the amendment to the Hindu Succession Act, 1956 by the Hindu Succession (Amendment) Act, 2005 all rights which were available to a Hindu male are now also available to a Hindu female. A daughter is now recognised as a co-parcener by birth in her own right and has the same rights in the co-parcenary property that are given to a son. Consequently, the eldest daughter is entitled to be the Karta of the HUF

   Sujata Sharma vs. Manu Gupta

   (2016) TaxCorp(LJ) 9934 (HC-DELHI)

6. Direct Tax ·Supreme Court · 16 Feb 2016
   Law on prospective vs. retrospective operation of legislation explained. The Hindu Succession (Amendment Act), 2005 which came into effect on 09.09.2015 and by which daughters in a joint Hindu family, governed by Mitakshara law, were granted statutory right in the coparcenary property (being property not partitioned or alienated) of their fathers applies only if both the father and the daughter are alive on the date of commencement of the Amendment Act

   Prakash vs. Phulvati

   (2016) TaxCorp(LJ) 9933 (SC)

7. Direct Tax ·ITAT Delhi · 17 Feb 2016
   A Power of Attorney executed by the Head Office in favour of the Liaison Office in India does not create a Permanent Establishment if the powers are specific to the liaison office and are not unfettered powers to enable to Liaison Office to act on behalf of the enterprise

   Kawasaki Heavy Industries Ltd vs. ACIT

   (2016) TaxCorp(LJ) 9932 (ITAT-DELHI)

8. Direct Tax ·ITAT Chandigarh · 23 Jul 2015
   Interest from surplus fund taxable as income from other sources

   M/s Himlayan Expressway Limited vs. ITO

   (2016) TaxCorp(LJ) 9911 (ITAT-CHANDIGARH)

9. Direct Tax ·Bombay High Court · 05 Feb 2016
   Sec. 172 No TDS on payment to non–resident shipping companies

   CIT. vs. V.S. Dempo & Co. Pvt. Ltd.

   (2016) TaxCorp(LJ) 9910 (HC-BOMBAY) · Section. 172

10. Direct Tax ·ITAT Mumbai · 29 Jul 2015
    AO duty bound to follow direction of appellate authorities

    DCIT. vs. M/s. ACC Ltd.

    (2016) TaxCorp(LJ) 9909 (ITAT-MUMBAI)

11. Direct Tax ·ITAT Mumbai · 21 Oct 2015
    New appeal filing monetary limit applies to pending appeals also

    ITO. vs. Smt. Sudha Brijratan Damani

    (2016) TaxCorp(LJ) 9908 (ITAT-MUMBAI)

12. Direct Tax ·ITAT Pune · 31 Jul 2015
    WIP Valuation on receipt basis forbidden in mercantile accounting

    The ACIT. vs. M/s. Ambarwadikar & Co., Engineers & Contractors

    (2016) TaxCorp(LJ) 9907 (ITAT-PUNE)

13. Direct Tax ·ITAT Mumbai · 17 Feb 2016
    ITAT - Special provisions u/s 50 override Sec 55(2)(ab). WDV of BSE membership card would be regarded as COA.

    Twin Earth Securities Private Limited vs. ACIT

    (2016) TaxCorp(LJ) 9906 (ITAT-MUMBAI) · Section. 55(2)(ab)

14. Direct Tax ·ITAT Chennai · 17 Feb 2016
    ITAT - Assessee’s false claim supported by CA's opinion cannot absolve assessee from Sec 271(1)(c) penalty.

    DCIT. Vs. Madura Micro Finance Limited

    (2016) TaxCorp(LJ) 9905 (ITAT-CHENNAI) · Section 271(1)(c)

15. Direct Tax ·ITAT Ahmedabad · 28 Jul 2015
    S. 80IB(10) Deduction allowed on additional business income declared post search

    Madhav Corporation vs. ACIT

    (2016) TaxCorp(LJ) 9904 (ITAT-AHMEDABAD) · Section. 80IB(10)

16. Direct Tax ·ITAT Ahmedabad · 21 Oct 2015
    Non TDS deduction disallowance not sustainable if payee discharges his tax liability

    Kurian Ulahannan Moothukuzhiyil vs. ITO

    (2016) TaxCorp(LJ) 9903 (ITAT-AHMEDABAD)

17. Direct Tax ·ITAT Delhi · 10 Feb 2016
    S. 80IC: 100% deduction allowed on every substantial expansion

    M/s Tirupati LPG Industries Ltd. vs. JCIT

    (2016) TaxCorp(LJ) 9902 (ITAT-DELHI) · Section. 80IC

18. Direct Tax ·ITAT Delhi · 05 Feb 2016
    Penalty u/s 271AAA not tenable where no search conducted

    DCIT. vs. M/s. Sam India Abhimanyu Housing

    (2016) TaxCorp(LJ) 9901 (ITAT-DELHI) · Section. 271AAA

19. Direct Tax ·ITAT Cochin · 16 Feb 2016
    ITAT - No TDS u/s 195 on commission payments made to UK/UAE companies under ‘Exclusive procurement agreement’.

    Cochin International Airport Ltd. vs. ITO

    (2016) TaxCorp(LJ) 9900 (ITAT-COCHIN)

20. Direct Tax ·Bombay High Court · 13 Feb 2016
    Transfer Pricing: Companies with large turnover like Infosys & Wipro are not comparable to companies with smaller turnover and should be excluded from the list of comparables

    CIT vs. Pentair Water India Pvt. Ltd

    (2016) TaxCorp(LJ) 9899 (HC-BOMBAY)

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