All landmark rulings

21,662 rulings

Desk: Both Direct Tax GST

Direct Tax ·Bombay High Court · 29 Oct 2015
HC - Expenditure incurred by assessee (an advocate) in connection with treatment of his eyes is not allowable u/s 37
Dhimant Hiralal Thakar vs. CIT
(2015) TaxCorp(LJ) 9286 (HC-BOMBAY) · Section. 37
Direct Tax ·ITAT Kolkata · 29 Oct 2015
ITAT - Assessee (a partner in CA firm) was under bonafide belief that his accounts need not be subjected to tax audit u/s. 44AB. Sec. 271B penalty deleted.
Sankar Datta vs. DCIT
(2015) TaxCorp(LJ) 9285 (ITAT-KOLKATA) · Section. 271B
Direct Tax ·P&H High Court · 29 Oct 2015
HC - Mixed funds diverted towards interest-free advances, average cost of debts to be used to make disallowance u/s 36(1)(iii).
Commissioner of Income-tax-I v. Kudu Industries
(2015) TaxCorp(LJ) 9281 (HC-P&H) · http://taxcorp.in/FileOpenDT.aspx?ID=61611&Category=Judgment&CategoryType=Zip
Direct Tax ·ITAT Delhi · 29 Oct 2015
ITAT - Additional CIT can perform functions of AO only if specifically directed by CBDT.
Mega Corporation Ltd. v. Additional Commissioner of Income-tax, Range -6, New Delhi
(2015) TaxCorp(LJ) 9280 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=43472&Category=ITAT&CategoryType=Zip
Direct Tax ·ITAT Delhi · 29 Oct 2015
ITAT - Income received by 'All India Football Federation' from sponsorship and telecasting rights are entitled to sec. 11 relief.
Deputy Director of Income -tax (Exemption), Delhi v. All India Football Federation
(2015) TaxCorp(LJ) 9279 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=43409&Category=ITAT&CategoryType=Zip
Direct Tax ·Delhi High Court · 29 Oct 2015
HC - On failure to serve reassessment notice, proviso to section 292BB gets attracted. Can not be cured by deeming fiction of sec. 292BB.
Commissioner of Income-tax (Central)-I v. Chetan Gupta
(2015) TaxCorp(LJ) 9278 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=61870&Category=Judgment&CategoryType=Zip
Direct Tax ·ITAT Chandigarh · 29 Oct 2015
ITAT - Difference of opinion between AO and CIT cannot be a basis to invoke jurisdiction under section 263.
Pawan Kumar v. Commissioner of Income-tax, Karnal
(2015) TaxCorp(LJ) 9277 (ITAT-CHANDIGARH) · http://taxcorp.in/FileOpenDT.aspx?ID=43471&Category=ITAT&CategoryType=Zip
Direct Tax ·ITAT Bangalore · 28 Oct 2015
ITAT - No TDS u/s 194LA on land acquisition payments made under "agreement" in absence of compulsory acquisition.
Karnataka Industrial Area Development Board Vs. ITO
(2015) TaxCorp(LJ) 9276 (ITAT-BANGALORE) · Section. 194LA
Direct Tax ·ITAT Mumbai · 29 Oct 2015
ITAT - Share held by an ESOP trust is capital asset u/s 2(14), consequently gains on its transfer to employees is capital gains.
Mahindra & Mahindra Employees’ Stock Option Trust vs. ADCIT
(2015) TaxCorp(LJ) 9275 (ITAT-MUMBAI)
Direct Tax ·P&H High Court · 28 Oct 2015
HC - In absence of employer-employee relationship between assessee-hospital and consultant doctors, doctor's remuneration attracts TDS u/s 194J and not u/s 192.
CIT. vs. Ivy Health Life Sciences Pvt Limited
(2015) TaxCorp(LJ) 9274 (HC-P&H) · Section. 194J
Direct Tax ·ITAT Pune · 27 Oct 2015
S. 10A/ 10B: After AY 2001-02 when s. 10A/ 10B became “deduction” provisions instead of “exemption” provisions, the deduction has to be computed before adjusting brought forward unabsorbed losses /depreciation
Vishay Components India Pvt. Ltd. vs. ACIT
(2015) TaxCorp(LJ) 9273 (ITAT-PUNE) · Sections. 10A, 10B
Direct Tax ·ITAT Delhi · 28 Oct 2015
ITAT - Production could not be termed as a trial production when there was a continuous sale to a particular company and thus, benefit of trial production could not be claimed by the assessee and Sec 80IC was clearly attracted.
ACIT. vs. Phonix Lamps India Ltd.
(2015) TaxCorp(LJ) 9254 (ITAT-DELHI) · Section. 80IC
Direct Tax ·Karnataka High Court · 27 Oct 2015
HC - Voting power in a company relevant and not the shareholding pattern for allowing loss set-off u/s 79.
CIT. vs. AMCO Power Systems Ltd.
(2015) TaxCorp(LJ) 9253 (HC-KARNATAKA) · Section. 79
Direct Tax ·ITAT Mumbai · 26 Oct 2015
ITAT - Marked to market losses on account of foreign currency forward contract is allowed to be set off against business income of a KPO.
Inventurus Knowledge Services Pvt. Ltd. vs. ITO
(2015) TaxCorp(LJ) 9251 (ITAT-MUMBAI)
Direct Tax ·ITAT Delhi · 26 Oct 2015
ITAT - Interest payable on disputed arbitration award is not allowable as liability to pay interest is not legally enforceable as at the end of relevant AYs.
National Agricultural Cooperative Marketing Federation of India Ltd. vs. JCIT
(2015) TaxCorp(LJ) 9250 (ITAT-DELHI)
Direct Tax ·ITAT Rajkot · 24 Oct 2015
ITAT - Profits of UAE Company from operation of ships is not taxable in India in as per Article 8 of India-UAE DTAA for AY 2009-2010.
Income Tax Officer (International Taxation) Vs MUR Shipping DMC Co
(2015) TaxCorp(LJ) 9225 (ITAT-RAJKOT)
Direct Tax ·Delhi High Court · 23 Oct 2015
HC - Interest on FDR kept as margin with bank qualifies for deduction u/s 10B.
Universal Precision Screws vs. Pr. CIT
(2015) TaxCorp(LJ) 9224 (HC-DELHI)
Direct Tax ·ITAT Delhi · 21 Oct 2015
S. 37(1): If a claim of damages and interest thereon is disputed by the assessee in the court of law, deduction cannot be allowed for the interest claimed on such damages
National Agricultural Cooperative Marketing Federation of India Ltd. vs. JCIT
(2015) TaxCorp(LJ) 9222 (ITAT-DELHI) · Section. 37(1)
Direct Tax ·Delhi High Court · 21 Oct 2015
Making allegations of fraud against Dept’s Counsel and claiming that they deliberately presented weak case seeks to prejudice and interfere with due course of judicial proceedings & prima facie constitutes criminal contempt of court
CIT. vs. Escorts Limited
(2015) TaxCorp(LJ) 9221 (HC-DELHI)
Direct Tax ·ITAT Mumbai · 21 Oct 2015
ITAT - Amount received on family settlement is not taxable u/s 56(2)(v).
Deputy Commissioner of Income-tax v. Paras D. Gundecha
(2015) TaxCorp(LJ) 9218 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=41855&Category=ITAT&CategoryType=Zip

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