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ITAT - Rent received under contractual obligation is advance, and not taxable as ‘income from other sources’.
ITO vs. Pennar Trading Pvt. Ltd
(2015) TaxCorp(LJ) 9725 (ITAT-KOLKATA)
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HC - Rule 6DD(j) specifying the circumstances in which the proviso to section 40A(3) is applicable is not exhaustive but only illustrative.
Gurdas Garg vs. CIT (A)
(2015) TaxCorp(LJ) 9718 (HC-P&H) · Section 40A(3)
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ITAT - Subsequent pronouncement by a Court or a Superior Court cannot entitle Revenue to reopen assessment proceedings.
ACIT vs. HRS Seismic Services Ltd.
(2015) TaxCorp(LJ) 9717 (ITAT-DELHI) · Section 147
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HC - In absence of opportunity of cross-examination, no addition can be made on the basis of third party statement.
Commissioner of Income-tax v. Sunil Aggarwal
(2015) TaxCorp(LJ) 9716 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=62227&Category=Judgment&CategoryType=Zip
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S. 268A: In view of CBDT's Circular no. 21/ 2015 dated 10.12.2015 appeals of the department where the monetary limit does not exceed Rs. 10 lakh have to be dismissed as a legal nullity. CBDT's decision termed as "paradigm shift", "unprecedented" and "possibly a game changing initiative heralding a new era in thoughtful litigation management"
DCIT vs. Soma Textiles & Industries Ltd
(2015) TaxCorp(LJ) 9700 (ITAT-AHMEDABAD) · Section 268A
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SC - Interest earned on share-application money is taxable only post allotment of shares and not on receipt of application money.
CIT vs. Henkel Spic India Ltd.
(2015) TaxCorp(LJ) 9675 (SC)
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SC - Section 41 not applicable on pre-mature payment of deferred sales tax liability under the incentive scheme.
CIT vs. SI Group India Ltd.
(2015) TaxCorp(LJ) 9674 (SC) · Section 41
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HC - Expenditure incurred on stamp duty for acquiring leasehold land for 30 years period is revenue in nature.
CIT vs. Reliance Industrial Infrastructure Ltd.
(2015) TaxCorp(LJ) 9673 (HC-BOMBAY)
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HC - At the stage of Sec 245D(1)/(2A), there is no requirement of hearing the Revenue.
Pr. CIT vs. Settlement Commission
(2015) TaxCorp(LJ) 9672 (HC-GUJARAT) · Section 245D(1)
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ITAT - Over 2000 days appeal-filing delay condoned in view of favourable HC ruling.
Surajmal Exports vs. ACIT
(2015) TaxCorp(LJ) 9663 (ITAT-KOLKATA)
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Transfer Pricing: Important legal principles on whether an adjustment for Advertisement & Market Promotion (AMP) expenses can be made on the basis that there is an assumed “international transaction” with the AE because the advertisement expenditure of the Indian company is “excessive” explained
Maruti Suzuki India Limited vs. CIT
(2015) TaxCorp(LJ) 9660 (HC-DELHI)
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HC - As there was delay of only a day, CBDT-order rejecting condonation in filing belated return quashed.
Cosme Matias Menezes vs. CIT
(2015) TaxCorp(LJ) 9626 (HC-BOMBAY)
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HC - Reassessment notice deserved to be quashed where direction under sec. 150 to reopen assessment itself was set aside.
Devendra Somabhai Naik v. Assistant Commissioner of Income-tax
(2015) TaxCorp(LJ) 9625 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=61020&Category=Judgment&CategoryType=Zip
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HC - No TDS u/s 194J while making payments of professional fee to doctors as there was no employer-employee relationship.
Commissioner of Income-tax (TDS), Chandigarh v. Ivy Health Life Sciences (P.) Ltd.
(2015) TaxCorp(LJ) 9624 (HC-P&H) · http://taxcorp.in/FileOpenDT.aspx?ID=62396&Category=Judgment&CategoryType=Zip
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ITAT - If Assessing Officer felt that assessee should do business in a particular way and should utilize cash balance in hand for discharging its liability is not correct view.
Deputy Commissioner of Income-tax, Circle-2, Surat v. Ashok Weaving Works
(2015) TaxCorp(LJ) 9623 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=42175&Category=ITAT&CategoryType=Zip
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ITAT - No powers to ITAT to accept appeal against orders of DRP if it is not accompanied by fee.
Assisstant Commissioner of Income-tax, Circle -17(1), Hyderabad v. D.E. Shaw India Software (P.) Ltd.
(2015) TaxCorp(LJ) 9622 (ITAT-HYDERABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=44187&Category=ITAT&CategoryType=Zip
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ITAT - In absence of quantification of consideration to be paid, no transfer u/s 2(47) on handing over possession of land on directions of Govt.
Deputy Commissioner of Income-tax, Circle-1 (1), Hyderabad v. A.P. State Agro Industries Development Corporation Ltd.
(2015) TaxCorp(LJ) 9621 (ITAT-HYDERABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=41679&Category=ITAT&CategoryType=Zip
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ITAT - No TDS on commission paid to non-resident selling agents for services rendered outside India absent PE in India.
Deputy Commissioner of Income-tax,Corporate Circle-2, Madurai v. TVS Srichakra Ltd.
(2015) TaxCorp(LJ) 9620 (ITAT-CHENNAI) · http://taxcorp.in/FileOpenINTL.aspx?ID=8420&Category=INTLDecisions&CategoryType=Zip
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HC - Where there is no taxable income, section 44BBA cannot be applied.
Director of Income-tax v. Royal Jordanian Airlines
(2015) TaxCorp(LJ) 9619 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=62352&Category=Judgment&CategoryType=Zip
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ITAT - After initiation of penalty proceedings u/s 271AAA, no penalty under sec.271(1)(c).
Dr. Naman A. Shastri v. Assistant Commissioner of Income-tax, Central Circle 2 (3), Ahmedabad
(2015) TaxCorp(LJ) 9618 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=43547&Category=ITAT&CategoryType=Zip
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