All landmark rulings

1. Direct Tax ·ITAT Mumbai · 26 Nov 2015
   Treatment of subsidy granted to set up a wind project

   UniDeritend Limited vs. ACIT

   (2016) TaxCorp(LJ) 9867 (ITAT-MUMBAI) · Section. 50

2. Direct Tax ·ITAT Delhi · 05 Feb 2016
   Subsidy to set up a new unit or to expand an existing unit is capital receipts, purpose test will prevail

   M/s. Shivalik Prints Limited vs. ACIT

   (2016) TaxCorp(LJ) 9866 (ITAT-DELHI)

3. Direct Tax ·ITAT Lucknow · 14 Aug 2015
   Sec 10A – Deduction allowed to new unit being independent unit, physical demarcation with old unit not relevant

   DCIT. vs. M/s E-Soft Technologies Ltd.

   (2016) TaxCorp(LJ) 9865 (ITAT-LUCKNOW) · Section. 10A

4. Direct Tax ·ITAT Mumbai · 27 Nov 2015
   Amount not assessable as Assessee’s income where direct payment made to parties for surrender of tenancy rights

   ITO. vs. Smt. Elsa Silva

   (2016) TaxCorp(LJ) 9864 (ITAT-MUMBAI)

5. Direct Tax ·Gujarat High Court · 15 Feb 2016
   HC - Sec 201(3) amended vide Finance Act, 2014 extending time-period to 7 years not retrospective in nature.

   Tata Teleservices Vs. Union Of India

   (2016) TaxCorp(LJ) 9863 (HC-GUJARAT) · Section. 201(3)

6. Direct Tax ·ITAT Chandigarh · 29 Oct 2015
   Section 80IC: Despite substantial expansion there cannot be two initial Assessment Year

   Sh. Sumit Kumar Vs. ITO

   (2016) TaxCorp(LJ) 9862 (ITAT-CHANDIGARH) · Section 80IC

7. Direct Tax ·ITAT Chandigarh · 27 Nov 2015
   No Penalty for non disclosure of manner of Income, if same was not asked during statement recorded U/s/ 132(4)

   DCIT. Vs. Shri Rajiv Chopra

   (2016) TaxCorp(LJ) 9861 (ITAT-CHANDIGARH) · Section. 132(4)

8. Direct Tax ·ITAT Kolkata · 24 Nov 2015
   Search and seizure are reasonable cause for delay in filing & Payment of Wealth Tax

   Loknath Prasad Gupta Vs. DCIT

   (2016) TaxCorp(LJ) 9860 (ITAT-KOLKATA)

9. Direct Tax ·ITAT Hyderabad · 28 Aug 2015
   Assessment completed by AO relying on estimations cannot be remanded back by CIT to reverify some aspects of estimation relied on

   Sri Surakshitha Homes vs. ITO

   (2016) TaxCorp(LJ) 9859 (ITAT-HYDERABAD) · Section 40A(3)

10. Direct Tax ·ITAT Delhi · 26 Aug 2015
    Unilateral claim based on internally generated documents without any independent evidence cannot be allowed as business expenditure

    DCIT. vs. M/s Leroy Somer& Controls (India) P. Ltd.

    (2016) TaxCorp(LJ) 9858 (ITAT-DELHI)

11. Direct Tax ·Madras High Court · 14 Jul 2015
    Interest on TDS deduction default not sustainable, where tax liability of deductor is NIL

    M/s. Anusha Investments Ltd. vs. ITO

    (2016) TaxCorp(LJ) 9857 (HC-MADRAS) · Section 195

12. Direct Tax ·ITAT Mumbai · 15 Jan 2016
    Sec. 80P Principle of mutuality applies to Transfer fees, Non-occupancy/ Car parking charges

    Lands End Co-operative Housing Society Limited vs. ITO

    (2016) TaxCorp(LJ) 9856 (ITAT-MUMBAI) · Section. 80P

13. Direct Tax ·Karnataka High Court · 14 Dec 2015
    No addition u/s 41(1) for unclaimed stale Drafts / Pay Orders if liability to pay back not ceased

    CIT. & ACIT. vs. Karnataka Vikas Grameen Bank

    (2016) TaxCorp(LJ) 9855 (HC-KARNATAKA) · Section. 41(1)

14. Direct Tax ·Karnataka High Court · 25 Jan 2016
    Penalty U/S 271(1) (C) Not Maintainable In Absence Of Proper Notice

    M/s. Safina Hotels Private Limited vs. CIT & DCIT

    (2016) TaxCorp(LJ) 9854 (HC-KARNATAKA) · Section. 271(1) (C)

15. Direct Tax ·Delhi High Court · 11 Feb 2016
    HC - Disallowance of commission payments made by the assessee based on uncontroverted statements made by the Chartered Accountant.

    Roger Enterprises P. Ltd. vs. CIT

    (2016) TaxCorp(LJ) 9849 (HC-DELHI)

16. Direct Tax ·ITAT Mumbai · 12 Feb 2016
    ITAT - No sec. 271(1)(c) penalty for assessee’s failure to disclose interest on income- tax refund in revised return which was disclosed in original return.

    GE Asset Management Incorporated vs. DDIT

    (2016) TaxCorp(LJ) 9845 (ITAT-MUMBAI)

17. Direct Tax ·ITAT Mumbai · 12 Feb 2016
    ITAT - Exemption u/s 10(23FB) available to a a SEBI registered VCF on its entire income. AO is not authorized to examine compliance with SEBI regulations.

    DHFL Venture Capital Fund vs. ITO

    (2016) TaxCorp(LJ) 9842 (ITAT-MUMBAI) · Section. 10(23FB)

18. Direct Tax ·ITAT Rajkot · 11 Feb 2016
    ITAT - AO to rectify glaring and apparent mistake in assessment order u/s 143(3).

    ACIT. vs. Rupam Impex

    (2016) TaxCorp(LJ) 9838 (ITAT-RAJKOT) · Section. 154

19. Direct Tax ·ITAT Mumbai · 11 Feb 2016
    ITAT - AO’s order without claim in respect of provision made for contingent liability, erroneous and prejudicial to interest of Revenue. Insertion of Explanation 2 to Section 263 by the Finance Act, 2015 is declaratory & clarificatory in nature

    Crompton Greaves Ltd. vs. CIT

    (2016) TaxCorp(LJ) 9837 (ITAT-MUMBAI) · Section. 263

20. Direct Tax ·ITAT Kolkata · 11 Feb 2016
    ITAT - Income from transfer of factory-land pursuant to a JDA entered with builder, assessable as “Capital Gains” and not “Business Income”.

    DCIT. vs. Eveready Industries India Ltd.

    (2016) TaxCorp(LJ) 9836 (ITAT-KOLKATA)

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