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HC - Where assessee acceded to AO’s jurisdiction at Belagavi, it was precluded from questioning its jurisdiction after having suffered an assessment order.
ITO vs Madeeha Enterprises
(2016) TaxCorp(LJ) 9753 (HC-KARNATAKA) · Section 127
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HC - Circular No. 21/2015 specifying monetary limit for Departmental appeals applies retrospectively to pending appeals.
CIT vs Telco Construction Equipment Co Ltd
(2016) TaxCorp(LJ) 9752 (HC-KARNATAKA)
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HC - Since confirmation of gift could not be obtained from brother owing to sour relations, no penalty for income from undisclosed sources.
CIT vs Sunila Sharma
(2016) TaxCorp(LJ) 9751 (HC-P&H)
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CUP method can be applied by a comparing a pricing formulae, rather than the pricing quantification in amount. Rule 10AB inserted w.e.f. 01.04.2012 is beneficial in nature and so retrospective w.e.f. 01.04.2002
Pr. CIT vs. Toll Global Forwarding India Pvt Ltd
(2015) TaxCorp(LJ) 9750 (HC-DELHI)
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Transfer pricing of AMP Expenditure: the onus is on the Revenue to demonstrate by tangible material that there is an international transaction involving AMP expenses between the Indian Co and the AE. In the absence of that first step, the question of determining the ALP of such a transaction does not arise. In the absence of a machinery provision it is hazardous for any TPO to proceed to determine the ALP of such a transaction since Bright Line Test has been negatived as a valid method of determining the existence of an international transaction and thereafter its ALP
CIT vs. Whirlpool of India Ltd
(2015) TaxCorp(LJ) 9749 (HC-DELHI)
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HC - Division Bench - Coordinate bench ruling that expenditure incurred for refurbishing building taken on lease shall be treated as revenue expenditure as no enduring benefit derived by assessee, requires reconsideration.
Indus Motor Company Pvt Ltd vs Dy CIT
(2015) TaxCorp(LJ) 9748 (HC-KERALA)
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HC - Individual’s claim for deduction of interest expense u/s 24(b) is restricted to 1/4th share in total interest payment.
Priya Mahajan vs. CIT(A)
(2015) TaxCorp(LJ) 9747 (HC-P&H)
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HC - The Tribunal has power to extend the stay even after the substituted third proviso to subsection 2A to Section 254 of the Act was introduced.
CIT vs Tata Teleservices (Maharashtra) Ltd
(2015) TaxCorp(LJ) 9746 (HC-BOMBAY)
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SC - SLP Dismissed - HC had held that rental income derived from leasing of commercial property was taxable as 'income from house property'.
Keyaram Hotels P. Ltd. vs. DCIT
(2015) TaxCorp(LJ) 9745 (SC)
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S. 10A: Even undisclosed income surrendered by assessee is eligible for s. 10A exemption if dept does not show that the assessee has any other source
Bridal Jewellery Mfg. Co vs. ITO
(2015) TaxCorp(LJ) 9741 (ITAT-DELHI) · Section 10A
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HC - No TDS u/s 195 on commission payments to non-resident agents in respect of sales made outside India.
CIT vs. Gujarat Reclaim & Rubber Products Ltd.
(2015) TaxCorp(LJ) 9735 (HC-BOMBAY)
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HC - Since no adverse information was received subsequently from FTD about donations, hence, AO's action of reassessment amounts to 'change of opinion'. Re-assessment based on AO's office-note invalid.
Kulbhushan Khosla vs. CIT
(2015) TaxCorp(LJ) 9734 (HC-DELHI)
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ITAT - Distribution of samples of medicines to the physicians free of cost is allowable u/s 37(1). CBDT Circular No. 5/2012 not applicable.
ACIT vs. Dupen Laboratories Pvt. Ltd.
(2015) TaxCorp(LJ) 9733 (ITAT-MUMBAI)
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ITAT - AO had conducted necessary enquiries into various aspects of share-purchase transactions before forming an opinion, therefore not prejudicial to Revenue.
Instant Holdings Ltd. vs. Pr. CIT
(2015) TaxCorp(LJ) 9732 (ITAT-MUMBAI) · Section 263
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Transfer Pricing: An adjustment with respect to transfer pricing has to be confined to transactions with Associated Enterprises and cannot be made with respect to transactions with unrelated third parties
CIT v. Thyssen Krupp
(2015) TaxCorp(LJ) 9731 (HC-BOMBAY)
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Thought there is a difference between leasehold right and ownership right as per the Transfer of Property Act, a leasehold land in the possession of the assessee for a term of 95 years is "belonging" to the assessee and is liable for wealth-tax
Jaya Hind Sciaky v. DCIT
(2015) TaxCorp(LJ) 9730 (HC-BOMBAY)
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Commission earned by a non-resident agent who carried on business of selling Indian goods outside India cannot be said have deemed to be income which has accrued and/or arisen in India. Circular No. 23 of 1969 & Circular No.786 of 2000 were withdrawn on 22.10.2009. The withdrawal of a Circular cannot have retrospective operation
CIT v. Gujarat Reclaim & Rubber Products
(2015) TaxCorp(LJ) 9729 (HC-BOMBAY)
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S. 195/ 40(a)(ia): In view of retrospective amendment to s. 195 to provide that s. 195 applies whether or not the non-resident person has a residence or place of business or business connection in India, commission to non-resident agents for services rendered outside India is liable for TDS u/s 195 and has to suffer disallowance u/s 40(a)(ia)
Sesa Resources v. ACIT
(2015) TaxCorp(LJ) 9728 (ITAT-PANAJI) · Sections 195, 40(a)(ia)
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ITAT - Finance (No. 2) Act, 2009 amendment inserting Sec 201(3)/(4) w.e.f April 1, 2010 prescribing time limit for initiation/completion of Sec 201 proceedings is only curative in nature.
Vodafone Digilink Ltd vs ITO
(2015) TaxCorp(LJ) 9727 (ITAT-JAIPUR) · Section 201
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ITAT - No TDS to be deducted from sale proceeds of land payable to non-resident.
ITO vs. Santur Developers P. Ltd
(2015) TaxCorp(LJ) 9726 (ITAT-DELHI) · Section 195
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