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HC - Exemption u/s 10A is available even where certain on-site development work was sub-contracted to AE.
Commissioner of Income-tax-III, Bangalore v. Mphasis Software & Service India (P.) Ltd.
(2015) TaxCorp(LJ) 9217 (HC-KARNATAKA) · http://taxcorp.in/FileOpenDT.aspx?ID=62137&Category=Judgment&CategoryType=Zip
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ITAT - Where name and address of donor was available and donations were received via cheque, same not unexplained u/s 68.
Deputy Commissioner of Income-tax v. Indo Global Education Foundation
(2015) TaxCorp(LJ) 9214 (ITAT-CHANDIGARH) · http://taxcorp.in/FileOpenDT.aspx?ID=41108&Category=ITAT&CategoryType=Zip
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HC - 0.5% of average tax free investment is required to be considered for sec. 14A disallowance and not total investment.
ACB India Ltd. v. Assistant Commissioner of Income-tax
(2015) TaxCorp(LJ) 9213 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=60790&Category=Judgment&CategoryType=Zip
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HC - assessee’s Indian liaison office engaged in purchasing activity is not PE under Article 5 of India-USA DTAA. Not taxable.
Columbia Sportswear Company vs. DIT
(2015) TaxCorp(LJ) 9212 (HC-KARNATAKA)
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ITAT - License fees paid by assessee to a US company for use of software is revenue in nature.
GE Capital Business Process. vs. ACIT.
(2015) TaxCorp(LJ) 9211 (ITAT-DELHI)
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S. 54F is a beneficial provision & must be interpreted liberally. It does not require that the construction of the new residential house has to be completed, and the house be habitable, within 3 years of the transfer of the old asset. It is sufficient if the funds are invested in the new house property within the time limit
CIT. vs. B. S. Shantakumari
(2015) TaxCorp(LJ) 9210 (HC-KARNATAKA) · Section. 54F
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S. 14A Rule 8D does not apply to shares held as stock-in-trade. AO cannot apply Rule 8D to make a disallowance without showing how the assessee's disallowance is wrong
DCIT. vs. G. K. K. Capital Markets (P) Ltd.
(2015) TaxCorp(LJ) 9209 (ITAT-KOLKATA) · Section. 14A
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ITAT - Mobilisation charges to be included in gross receipts for determining income under section 44BB(1) as it was incidental activity for carrying out contract.
Ensco Maritime Ltd. v. Assistant Director of Income-tax (International Taxation)
(2015) TaxCorp(LJ) 9208 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=38884&Category=ITAT&CategoryType=Zip
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HC - Rule 8 of Income-tax Rules, 1962 was to be applied in valuation of fringe benefits.
Apeejay Tea Ltd. v. Commissioner of Income-tax
(2015) TaxCorp(LJ) 9207 (HC-CALCUTTA) · http://taxcorp.in/FileOpenDT.aspx?ID=60377&Category=Judgment&CategoryType=Zip
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S. 263: Claim that notional interest on funds placed by the s. 10A eligible unit with the H.O. is allowable as a deduction to the H.O. and is exempt in the hands of the s. 10A unit is an “unsustainable view” justifying revision action
Thomson Press (India) Ltd. vs. CIT
(2015) TaxCorp(LJ) 9192 (HC-DELHI) · Section. 263
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S. 147: Reopening only on the basis of information received that the assessee has introduced unaccounted money in the form of accommodation entries without showing in what manner the AO applied independent mind to the information renders the reopening void
Pr. CIT. vs. G & G Pharma India Ltd.
(2015) TaxCorp(LJ) 9191 (HC-DELHI)
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HC - No TDS u/s 194LA on land acquired through ‘voluntary surrender’ by land-owners in lieu of development rights.
CIT. vs. Bruhat Bangalore Mahanagar Palike
(2015) TaxCorp(LJ) 9190 (HC-KARNATAKA)
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SC - Depreciation u/s 32 allowable on acquisition of trademarks, copyrights and know-how during AY 1995-96, as the same falls under the ambit of ‘plant’ definition u/s 43(3).
Mangalore Ganesh Beedi Works vs. CIT
(2015) TaxCorp(LJ) 9170 (SC)
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HC - As material facts were not disclosed in original return filed by assessee, reassessment proceedings for AY 2008-09 justified.
PVP Ventures Ltd. vs. ACIT
(2015) TaxCorp(LJ) 9169 (HC-MADRAS)
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HC - Reopening assessment on the basis of a judicial precedent (SC ruling) delivered more than eight years earlier is merely a 'change of opinion'. Reassessment not valid.
Coperion Ideal Private Limited vs. CIT
(2015) TaxCorp(LJ) 9168 (HC-DELHI)
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HC - Capital expenditure incurred for replacement of a computer system within a large network can be allowed as a business expenditure under section 36(1)(xi).
CIT. vs. Tata Tea Ltd.
(2015) TaxCorp(LJ) 9167 (HC-CALCUTTA) · Section. 36(1)(xi)
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HC - Civil application for providing IT returns of private parties under the Right to Information Act, 2005 dismissed.
Vinubhai Haribhai Patel (Malavia) Vs. Asst. CIT
(2015) TaxCorp(LJ) 9166 (HC-GUJARAT)
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SC - Petitioner-employee’s unexplained delay of over 5 years in filing writ petition upon State Government order dismissing him from service cannot be condoned.
State of Jammu & Kashmir vs. R.K. Zalpuri and others
(2015) TaxCorp(LJ) 9165 (SC)
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S. 147: Entire law on whether reopening of assessment in the absence of "fresh tangible material" is permissible reviewed
Motilal R. Todi vs. ACIT
(2015) TaxCorp(LJ) 9164 (ITAT-MUMBAI) · Section 147
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S. 148: If Dept behaves in an irresponsible manner and does not furnish the record reasons on the basis that the assessee was already aware of them, the assessment has to be quashed
CIT vs. Trend Electronics
(2015) TaxCorp(LJ) 9163 (HC-BOMBAY) · Section 148
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