All landmark rulings

21,662 rulings

Desk: Both Direct Tax GST

Direct Tax ·Delhi High Court · 16 Sep 2015
HC - Burden on revenue to show that service of notice was duly effected on assessee. Mere fact that an Assessee or some other person on his behalf not duly authorised participated in the reassessment proceedings after coming to know of it will not constitute a waiver of the requirement of effecting proper service of notice on the Assessee u/s 148.
CIT. vs. Chetan Gupta
(2015) TaxCorp(LJ) 8808 (HC-DELHI)
Direct Tax ·Delhi High Court · 16 Sep 2015
HC - Mere passing of the book entries, which are reversed, would not give rise to an obligation to deduct TAS ('tax at source') by the assessee.
DIT. vs. Ericsson Communications Ltd.
(2015) TaxCorp(LJ) 8807 (HC-DELHI)
Direct Tax ·Supreme Court · 14 Sep 2015
Law Commission and the Bar Council of India should consider whether Advocates should be tested for fitness and competence to argue matters
Shiv Kumar Yadav
(2015) TaxCorp(LJ) 8806 (SC)
Direct Tax ·Delhi High Court · 14 Sep 2015
S. 54: To constitute purchase of new house, a registered sale deed is not necessary. Suspicion, howsoever strong, cannot partake the character of evidence
CIT vs. Kapil Nagpal
(2015) TaxCorp(LJ) 8805 (HC-DELHI) · Section 54
Direct Tax ·Supreme Court · 15 Sep 2015
SC - Ponds designed for breeding of prawns are plant for depreciation purposes
Assistant Commissioner of Income-tax v. Victory Aqua Farm Ltd.
(2015) TaxCorp(LJ) 8781 (SC) · http://taxcorp.in/FileOpenDT.aspx?ID=61861&Category=Judgment&CategoryType=Zip
Direct Tax ·ITAT Mumbai · 15 Sep 2015
ITAT - Forex loss in forward contract made to hedge loss in export-import transaction is business loss subject to condition that maturity of hedge does not exceed maturity of underlying transaction.
Perfect Circle India Ltd. v. Deputy Commissioner of Income-tax, 5(2), Mumbai
(2015) TaxCorp(LJ) 8780 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=40496&Category=ITAT&CategoryType=Zip
Direct Tax ·ITAT Mumbai · 15 Sep 2015
ITAT - Reversal of a fictitious credit would not result in income accruing to assessee as book entry do not create income but only recognizes it.
Panna S. Khatau v. Income-tax Officer-2(3)(2), Mumbai
(2015) TaxCorp(LJ) 8779 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=41676&Category=ITAT&CategoryType=Zip
Direct Tax ·Gujarat High Court · 14 Sep 2015
HC - Premium received by assessee-co-operative housing society upon transfer of plot by its outgoing member is not chargeable to tax in the hands of society. Principles of mutuality applied.
CIT. vs. Prabhukunj Co-op Hsg Soc Ltd.
(2015) TaxCorp(LJ) 8778 (HC-GUJARAT)
Direct Tax ·ITAT Amritsar · 14 Sep 2015
ITAT - Discusses law relating to clause on 'general public utility’. Sec 11 exemption available to assessee trust engaged in planned development of cities and towns under the supervision / control of State Govt.
Hoshiarpur Improvement Trust vs. ITO
(2015) TaxCorp(LJ) 8767 (ITAT-AMRITSAR) · Section. 2(15)
Direct Tax ·Bombay High Court · 11 Sep 2015
HC - Payment made by the assessee to his sisters for acquiring absolute title in property is allowable u/s 49.
ACIT. vs. Kamlakar Moghe
(2015) TaxCorp(LJ) 8766 (HC-BOMBAY)
Direct Tax ·ITAT Hyderabad · 12 Sep 2015
ITAT - Failure to apply s. 50C and offer capital gains as per the stamp value does not constitute concealment/ furnishing of inaccurate particulars of income for levy of penalty u/s 271(1)(c)
Bhavya Anant Udeshi vs. ITO
(2015) TaxCorp(LJ) 8765 (ITAT-HYDERABAD) · Section 271(1)(c)
Direct Tax ·ITAT Amritsar · 12 Sep 2015
ITAT - Even post insertion of proviso to s. 2 (15) but before 01.04.2016, s. 11 benefit cannot be denied to business activities carried by the trust in the course of actual carrying out of such advancement of any other object of general public utility. Trusts are entitled to carry out activities in the nature of trade, commerce or business etc as long as these activities are carried out in the course of actual carrying out of advancement of any other object of general public utility. On facts, activity of auctioning commercial plots for maximum revenue cannot be regarded as a profit-making exercise
Hoshiarpur Improvement Trust vs. ITO
(2015) TaxCorp(LJ) 8764 (ITAT-AMRITSAR)
Direct Tax ·ITAT Chennai · 12 Sep 2015
ITAT - Since ladies in indian families normally possess quantity of jewelleries as was found in search and assessee declared investments in gold and silver articles in VDIS, value of gold and silver would not be includible in undisclosed income. No additions under sec. 69
Assistant Commissioner of Income-tax v. Kandasamy Sah
(2015) TaxCorp(LJ) 8763 (ITAT-CHENNAI) · http://taxcorp.in/FileOpenDT.aspx?ID=39910&Category=ITAT&CategoryType=Zip
Direct Tax ·ITAT Chennai · 12 Sep 2015
ITAT - After 1-6-2015, assessing authority is well within his limit to levy fee under section 234E even while processing the statement under section 200A and making adjustment.
Smt. G. Indhirani v. Deputy Commissioner of Income-tax, CPC-TDS, Uttar Pradesh
(2015) TaxCorp(LJ) 8762 (ITAT-CHENNAI) · http://taxcorp.in/FileOpenDT.aspx?ID=42112&Category=ITAT&CategoryType=Zip
Direct Tax ·P&H High Court · 12 Sep 2015
HC - Order passed by Tribunal under sec. 254(2) is not appealable before High Court u/s 260A
Commissioner of Income-tax v. Saroop Tanneries Ltd.
(2015) TaxCorp(LJ) 8761 (HC-P&H) · http://taxcorp.in/FileOpenDT.aspx?ID=61304&Category=Judgment&CategoryType=Zip
Direct Tax ·Bombay High Court · 12 Sep 2015
HC - No interest under section 234B could be levied on the basis of retro-amendment in sec. 115JB
Commissioner of Income-tax, Mumbai v. JSW Energy Ltd.
(2015) TaxCorp(LJ) 8759 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=61183&Category=Judgment&CategoryType=Zip
Direct Tax ·ITAT Chennai · 12 Sep 2015
ITAT - Translation service is also one of IT enabled service as provided in Income-tax Rules and, therefore, company earning revenue from translation services can be compared with company providing IT enables services in transfer pricing study.
Sanmina SCI India (P.) Ltd. v. Deputy Commissioner of Income-tax, Company Range VI (1), Chennai
(2015) TaxCorp(LJ) 8758 (ITAT-CHENNAI) · http://taxcorp.in/FileOpenINTL.aspx?ID=8386&Category=INTLDecisions&CategoryType=Zip
Direct Tax ·ITAT Mumbai · 11 Sep 2015
ITAT - Expenditure incurred towards overseas travel of doctors available in the hands of a pharmaceutical company
ACIT. vs. Liva Healthcare Ltd.
(2015) TaxCorp(LJ) 8757 (ITAT-MUMBAI)
Direct Tax ·Madras High Court · 12 Sep 2015
HC - Where one of the ventures of assessee had ended in a loss, such loss would not be treated as capital expenditure.
Commissioner of Income-tax v. Saka Marketing Services (P.) Ltd.
(2015) TaxCorp(LJ) 8756 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=60589&Category=Judgment&CategoryType=Zip
Direct Tax ·ITAT Delhi · 12 Sep 2015
ITAT - In view sub-clause (d) to clause (5) of section 43, transactions of derivative trading and commodity future entered into by assessee could not be regarded as speculative.
Income-tax Officer, Ward 11 (1), New Delhi v. Emperor International Ltd.
(2015) TaxCorp(LJ) 8755 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=41009&Category=ITAT&CategoryType=Zip

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