All landmark rulings

21,662 rulings

Desk: Both Direct Tax GST

Direct Tax ·ITAT Mumbai · 15 Feb 2016
S. 54EC: The period of "6 months" available for making investment means 6 calendar months & not 180 days. Payment by cheque dates back to date of presentation & not date of encashment
Neela S. Karyakarte vs. ITO
(2016) TaxCorp(LJ) 9898 (ITAT-MUMBAI) · Section 54EC
Direct Tax ·ITAT Mumbai · 15 Feb 2016
There is a distinction betwen "setting up" and "commencement" of a business. A business is "set up" and expenditure is deductible even if assessee has no customers and no income
Multi Act Realty Enterprises Pvt. Ltd vs. ACIT
(2016) TaxCorp(LJ) 9897 (ITAT-MUMBAI)
Direct Tax ·ITAT Mumbai · 15 Feb 2016
Expl to s. 37(1): Penalties & fines paid to SEBI, BSE etc for breach of regulatory/ procedural requirements are "compensatory" in nature and not for any purpose which is an ‘offense’ prohibited by the law
Mangal Keshav Securities Limited vs. ACIT
(2016) TaxCorp(LJ) 9896 (ITAT-MUMBAI) · Section 37(1)
Direct Tax ·ITAT Delhi · 15 Feb 2016
Argument that transfer pricing adjustment cannot be made if the assessee's income is deductible u/s 10A/ 10B is not acceptable. Contrary view in TCS cannot be followed as it is obiter dicta & contrary to law laid down in Aztech Software 107 ITD 141 (SB)
Headstrong Services India Pvt. Ltd vs. DCIT
(2016) TaxCorp(LJ) 9895 (ITAT-DELHI) · Sections 10A, 10B
Direct Tax ·ITAT Mumbai · 13 Feb 2016
S. 2(22)(d)/ 46A: A buyback of shares u/s 77A of the Companies Act is not a reduction of capital u/s 100 - 104 of that Act. A buyback cannot be regarded as a "colourable transaction" and cannot be assessed as "deemed dividend" u/s 2(22)(d). The capital gains on buy-back are exempt under the India-Mauritius DTAA
Goldman Sachs (India) Securities Pvt. Ltd vs. ITO
(2016) TaxCorp(LJ) 9894 (ITAT-MUMBAI) · Sections 2(22)(d), 46A, 77A
Direct Tax ·P&H High Court · 16 Feb 2016
HC - Whether agreement between assessee and the doctors was a 'contract for service' or a 'contract of service' explained.
Suresh Kumar Hooda v. Commissioner of Income-tax, Rohtak
(2016) TaxCorp(LJ) 9893 (HC-P&H) · http://taxcorp.in/FileOpenDT.aspx?ID=62647&Category=Judgment&CategoryType=Zip
Direct Tax ·Allahabad High Court · 16 Feb 2016
HC - Time taken by Commissioner to pass order u/s 142(2A) would stand excluded while computing period of limitation.to complete assessment.
U.P. State Handloom Corporation Ltd. v. Commissioner of Income-tax
(2016) TaxCorp(LJ) 9889 (HC-ALLAHABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=62284&Category=Judgment&CategoryType=Zip
Direct Tax ·ITAT Mumbai · 16 Feb 2016
ITAT - Commissioner (Appeals) has no powers to decide TP issue without taking into account effect of provisions contained in Chapter X of Act.
Strides Arcolab Ltd. v. Assistant Commissioner of Income tax, Mumbai
(2016) TaxCorp(LJ) 9888 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=44833&Category=ITAT&CategoryType=Zip
Direct Tax ·Delhi High Court · 16 Feb 2016
HC - Where assessee had disclosed all material facts relating to dividend income at time of making assessment, no reassessment can be made for disallowance under sec. 14A.
Sun Pharmaceutical Industries Ltd. v. Deputy Commissioner of Income-tax
(2016) TaxCorp(LJ) 9887 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=62684&Category=Judgment&CategoryType=Zip
Direct Tax ·ITAT Chennai · 31 Jul 2015
Revised return with same info is furnishing of inaccurate particulars
DCIT. vs. M/s. Rattha Citadines
(2016) TaxCorp(LJ) 9886 (ITAT-CHENNAI)
Direct Tax ·ITAT Bangalore · 27 Nov 2015
Securities premium is not accumulated profits u/s 2(22)(e): ITAT
M/s Jeans Knit Pvt. Ltd. vs. ACIT
(2016) TaxCorp(LJ) 9885 (ITAT-BANGALORE) · Section. 2(22)(e)
Direct Tax ·ITAT Pune · 28 Oct 2015
S. 263 Valid if AO fails to enquire business exigency of donations
Shri M.D. Wadhokar vs. CIT
(2016) TaxCorp(LJ) 9884 (ITAT-PUNE) · Section. 263
Direct Tax ·ITAT Pune · 28 Oct 2015
S. 80IB(10) Mere Common Commercial & Residential Layout?
M/s. D.S. Kulkarni Developers Ltd. vs. ACIT
(2016) TaxCorp(LJ) 9883 (ITAT-PUNE) · Section. 80IB(10)
Direct Tax ·Supreme Court · 16 Oct 2015
Daughter have equal rights in Parents property prospectively: SC
Prakash & Ors vs. Phulavati & Ors
(2016) TaxCorp(LJ) 9882 (SC)
Direct Tax ·ITAT Pune · 21 Dec 2015
Invocation of Section 263 on mere DCIT Suggestion invalid
Span Overseas Ltd. vs. CIT
(2016) TaxCorp(LJ) 9881 (ITAT-PUNE) · Section 263
Direct Tax ·ITAT Amritsar · 05 Feb 2016
Auditors’ Qualifications: Whether a death Knell for assessee?
M/s J&K Diary Producers, Processors and Marketing Co-operative Union Ltd. Vs. ITO
(2016) TaxCorp(LJ) 9880 (ITAT-AMRITSAR)
Direct Tax ·ITAT Mumbai · 15 Feb 2016
ITAT - No TDS u/s 195 on remittance by assessee to its holding company in Mauritius under share buy-back scheme as the same not taxable in India.
Goldman Sachs (India) Securities Pvt. Ltd. Vs. Income tax Officer-(Intl. Taxation) TDS-3
(2016) TaxCorp(LJ) 9879 (ITAT-MUMBAI)
Direct Tax ·Gujarat High Court · 15 Feb 2016
HC - Initiation of reassessment proceedings under directive of audit party was not sustainable where AO did not record independent reasons.
Adani Developers (P.) Ltd. v. Income-tax Officer, Ward 1(1)
(2016) TaxCorp(LJ) 9878 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=62606&Category=Judgment&CategoryType=Zip
Direct Tax ·ITAT Delhi · 14 Aug 2015
Sec 68: No addition where parties have sufficient bank balance while giving loans
ITO. vs. Rekha Bansal
(2016) TaxCorp(LJ) 9869 (ITAT-DELHI) · Section. 68
Direct Tax ·ITAT Lucknow · 30 Oct 2015
Interest subsidy for repayment of loan acquired for acquisition of capital assets, is capital receipts
DCIT. vs. M/s J.K. Cement Ltd.
(2016) TaxCorp(LJ) 9868 (ITAT-LUCKNOW)

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