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ITAT - Payment of roaming charges by telephone operator does not fall under the ambit of TDS provisions as roaming facility does not require human intervention and are not ‘FTS’.
Vodafone East Ltd. v. Additional Commissioner of Income-tax, Range-7, Kolkata
(2015) TaxCorp(LJ) 8858 (ITAT-KOLKATA) · http://taxcorp.in/FileOpenDT.aspx?ID=42777&Category=ITAT&CategoryType=Zip
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HC - Section 68 applicable even if assessee was taxable on presumptive basis and where he fails to explain source of deposits.
Commissioner of Income-tax v. Chander Prakash Pabreja
(2015) TaxCorp(LJ) 8857 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=59326&Category=Judgment&CategoryType=Zip
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ITAT - TP adjustment deleted as margin of AE segment came within +/- 5 per cent range when compared to arithmetic mean/PLI, computed by TPO.
Msource (India) (P.) Ltd. v. Deputy Commissioner of Income-tax, Circle 12 (1), Bangalore
(2015) TaxCorp(LJ) 8856 (ITAT-BANGALORE) · http://taxcorp.in/FileOpenINTL.aspx?ID=8132&Category=INTLDecisions&CategoryType=Zip
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ITAT - Where no adverse comments were made on purchases in sales tax assessment and no defect or deficiency was found by AO in assessee's books of account, no addition of unexplained purchases.
Assistant Commissioner of Income-tax v. Inlay Marketing (P.) Ltd.
(2015) TaxCorp(LJ) 8855 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=38837&Category=ITAT&CategoryType=Zip
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HC - Circumstances in which gains from sale of shares can be assessed as short-term capital gains and not as business profits explained
CIT vs. Datta Mahendra Shah
(2015) TaxCorp(LJ) 8837 (HC-BOMBAY)
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SC - Mere possession and recovery of currency notes from an accused is not sufficient to establish an offense under the Prevention of Corruption Act. Proof of demand of illegal gratification is essential. Its absence is fatal to the complaint
P. Satyanarayana Murthy vs. Dist. Inspector of Police
(2015) TaxCorp(LJ) 8836 (SC)
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SC - The "functional" test has to be applied to determine whether an asset is "plant". Even a pond designed for rearing prawns can be "plant"
ACIT vs. Victory Aqua Farm Ltd
(2015) TaxCorp(LJ) 8835 (SC) · Section 32
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Punjab HC - TAR/ITR Due Date. Accepts writ – Issues interim order
Vishal Garg and others v. UOI and anr.
(2015) TaxCorp(LJ) 8834 (HC-P&H)
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SC - ‘Natural pond’ which as per the assessee is specially designed for rearing prawns would be treated as ‘Plant’ within Section 32 of the Income-tax Act, 1961.
Victory Aqua Farm Ltd. Vs. ACIT
(2015) TaxCorp(LJ) 8833 (SC)
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Delhi HC - Petition is not drafted as a Public Interest Litigation (PIL) and does not comply with the rules for filing a petition in public interest. Dismisses ITR/TAR Due Date Extension Appeal.
AVINASH GUPTA & ANR Versus UNION OF INDIA & ORS.
(2015) TaxCorp(LJ) 8832 (HC-DELHI)
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HC - Section 234E is constitutionally valid.
M/s. Dundlod Shikshan Sansthan Vs. UOI
(2015) TaxCorp(LJ) 8831 (HC-RAJASTHAN) · Section. 234E
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HC - When an assessment is sought to be re-opened after expiry of four years from the end of the relevant assessment year, the proviso to section 147 of the Act stipulates a requirement that there must a failure on the part of the assessee to disclose fully and truly all material facts necessary for the assessment.
United Shippers Ltd. Vs. UOI
(2015) TaxCorp(LJ) 8830 (HC-BOMBAY)
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ITAT - Quantum and penalty proceedings under the Act stand on a different footing and each and every disallowance/addition does not lead to automatic imposition of penalty.
Income-tax Officer Vs. M/s. Besto Tradelink (P) Ltd.
(2015) TaxCorp(LJ) 8829 (ITAT-AHMEDABAD)
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HC - Assessee is not entitled to claim deduction of the belated payments to the Provident Fund in view of the section 36(1)(va) and 43B.
The Commissioner of Income Tax, Cochin Vs. M/s South India Corporation Ltd.
(2015) TaxCorp(LJ) 8828 (HC-KERALA) · Section. 43B
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HC - The Act does not envisage double taxation and assessment should be in the hands of the right person and that there cannot two assessments for the same income. Income already assessed in the hands of third party cannot be re-assessed in the hands of assessee
Jose Kuruvinakunnel Vs. CIT
(2015) TaxCorp(LJ) 8827 (HC-KERALA)
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ITAT - Can the expenditure incurred on the renovation of a temple be considered as expenditure incurred towards CSR and hence allowable u/s. 37(1) of the Act?Recommends Special bench
ACIT. Vs. M/s. Bandekar Brothers Pvt. Ltd.
(2015) TaxCorp(LJ) 8826 (ITAT-PANAJI)
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SC - High Courts being Courts of Record under Article 215 of the Constitution of India, the power of review would in fact inhere in them.
Commissioner of Income Tax Vs. M/s. Meghalaya Steels Ltd.
(2015) TaxCorp(LJ) 8813 (SC)
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HC - Even during the period when the facility of payment of excise duty in instalments on fortnightly basis is not available and remains suspended, the only obligation for the assessee is to pay the duty on each clearance and not on deferred basis and it can be paid either through account current or Cenvat Credit.
M/s Jayaswal Neco Ltd. V/s Commissioner of Central Excise, Raipur
(2015) TaxCorp(LJ) 8812 (SC)
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HC - Extra amount refunded cannot be treated as interest because the original sums paid by purchasers were not in the nature of any debt and as such no debtor – creditor relationship existed between the purchaser and assessee. No obligation to deduct tax at source u/s 194A.
M/s Beacon Projects Private Limited vs. CIT
(2015) TaxCorp(LJ) 8811 (HC-KERALA)
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HC - Assessee is allowed to follow hybrid system of accounting for different nature of transactions provided the same is followed consistently and income can be deduced from such accounting.
Kerala Kaumudi P. Ltd. vs. CIT
(2015) TaxCorp(LJ) 8810 (HC-KERALA)
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