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ITAT - Non-furnishing of any explanation itself will lead to Penal Consequences u/s 271(1)(c). After introduction of Explanation-1 to Section 271(1)(c) of the Act, there is no burden on the Revenue to prove that the assessee has concealed the particulars of Income.
Radha Nutirents Ltd. Vs. A.C.I.T.
(2015) TaxCorp(LJ) 8709 (ITAT-CHANDIGARH)
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HC - All authorities, civil, criminal and judicial, coming within the territory of the High Court, shall act in the aid of the High Court. AO not authorized to take contrary views taken by other High Courts if same issue is decided by jurisdictional High Court.
Devi Karumariamman Educational Trust v. Deputy Commissioner of Income-tax (Exemptions)-I Chennai
(2015) TaxCorp(LJ) 8700 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=61447&Category=Judgment&CategoryType=Zip
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HC - Since no demand was raised pursuant to the reassessment order, assessee did not file any appeal, therefore delay of 331 days in filing appeal before CIT(A) is condoned.
CIT. vs. Prakash B Nichani
(2015) TaxCorp(LJ) 8699 (HC-KARNATAKA) · Section. 263
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HC - It is sufficient that assessee incurred expenditure of a capital nature on scientific research and there is no requirement that such an expenditure should be capitalised in books to avail deduction u/s 35.
Commissioner of Income-tax v. Hindustan Construction Co. Ltd.
(2015) TaxCorp(LJ) 8698 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=60930&Category=Judgment&CategoryType=Zip
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ITAT - Withdraws adverse remark against ICAI and its members.
Vijay V. Meghani v. Assistant Commissioner of Income-tax, Cir. 23(3), Mumbai
(2015) TaxCorp(LJ) 8697 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=42586&Category=ITAT&CategoryType=Zip
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HC - Satisfaction can be said to be a borrowed satisfaction from another officer which in absence of any application of mind and any real finding in case of assessee does not constitute valid reason to believe that income has escaped assessment.
Shree Chalthan Vibhag Khand v. Deputy Commissioner of Income-tax
(2015) TaxCorp(LJ) 8696 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=61392&Category=Judgment&CategoryType=Zip
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HC - Since contract manufacturers were carrying out manufacturing activity for assessee and it was in assessee's business interests that all tax liabilities of manufacturers were duly satisfied, by assessee, payment of additional excise duty on behalf of contract manufacturers allowed as business expenditure.
Tupperware India (P.) Ltd. v. Commissioner of Income-tax
(2015) TaxCorp(LJ) 8682 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=61243&Category=Judgment&CategoryType=Zip
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HC - Where while making best judgment assessment, AO proceeded to take item wise expenditures shown by assessee and some of them were allowed and some of them were disallowed, assessment orders were not maintainable in law.
Triyogi Narayan Singh v. Commissioner of Income-tax-X, Kolkata
(2015) TaxCorp(LJ) 8681 (HC-CALCUTTA) · http://taxcorp.in/FileOpenDT.aspx?ID=61815&Category=Judgment&CategoryType=Zip
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ITAT - No set-off of brought forward loss to co-operative bank as it failed to file return within time limit prescribed under section 139(1).
Kolar & Chickballapur District Co-op. Bank Ltd. v. Assistant Commissioner of Income-tax,Circle 10 (1), Bangalore
(2015) TaxCorp(LJ) 8679 (ITAT-BANGALORE) · http://taxcorp.in/FileOpenDT.aspx?ID=42579&Category=ITAT&CategoryType=Zip
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ITAT - Where funds of Trust were utilized for purpose of purchase of car in name of trustee, the same can not be allowed as exemption under sec. 11.
Audyogik Shikshan Mandal v. Income-tax officer, Ward -8(1), Pune
(2015) TaxCorp(LJ) 8678 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=42578&Category=ITAT&CategoryType=Zip
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HC - A house is a joint property if it is constructed on a land owned by the husband with joint funds of couple. Income derived from letting out of such property would be taxed as income from house property and not 'income from other sources'.
Commissioner of Income-tax, Kolkata-X, Kolkata v. Smt. Mina Deogun
(2015) TaxCorp(LJ) 8677 (HC-CALCUTTA) · http://taxcorp.in/FileOpenDT.aspx?ID=60996&Category=Judgment&CategoryType=Zip
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ITAT - Registration of assessee as a Small Scale Industrial Undertaking with District Industries Commissioner is not a pre-condition for deduction under section 80-IA.
Deputy Commissioner of Income-tax, Cir- 1 (2), Baroda v. Amigo Brushes (P.) Ltd.
(2015) TaxCorp(LJ) 8676 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=41559&Category=ITAT&CategoryType=Zip
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ITAT - International toll free services is 'FTS'. TDS applicable.
Conference Call Services India (P.) Ltd. v. Assistant Commissioner of Income-tax Co. Circle I (3)
(2015) TaxCorp(LJ) 8675 (ITAT-CHENNAI) · http://taxcorp.in/FileOpenDT.aspx?ID=41818&Category=ITAT&CategoryType=Zip
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ITAT - Right to telecast a cinematographic film through satellite for a period of 99 years is sale. No TDS.
Deputy Commissioner of Income-tax, Media Circle-I, Chennai v. Ganapathy Media (P.) Ltd.
(2015) TaxCorp(LJ) 8674 (ITAT-CHENNAI) · http://taxcorp.in/FileOpenDT.aspx?ID=42422&Category=ITAT&CategoryType=Zip
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HC - Merely stating that the transfer is for the purpose of coordinating in itself is not a ground to consolidating the cases at one place. Violation of principles of natural justice at the initial stage cannot be cured at the subsequent stage. Petitioner should be made available of the gist of enquiry carried against him before hand and not at the time of assessment proceedings.
Virbhadra Singh vs. CIT
(2015) TaxCorp(LJ) 8673 (HC-HP) · Section. 127
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ITAT - ITAT accedes to ICAI's plea to modify its order criticizing Institute's functioning. Observations in the original order about the CA profession and conduct of the students not necessary to adjudicate the issues.
Vijay V Meghani Vs. ACIT
(2015) TaxCorp(LJ) 8672 (ITAT-MUMBAI)
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HC - Since no exempt income was earned, there cannot be any disallowance u/s 14A. No disallowance in respect of interest expenditure for making strategic investments, in absence of earning of exempt income therefrom.
Cheminvest limited vs CIT
(2015) TaxCorp(LJ) 8671 (HC-DELHI)
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SC - The client is not bound by a statement or admission which he or his lawyer was not authorised to make. The Lawyer generally has no implied or apparent authority to make an admission or statement which would directly surrender or conclude the substantial legal rights of the client unless such an admission or statement is clearly a proper step in accomplishing the purpose for which the lawyer was employed The Supreme Court had to inter alia consider the following issues
Himalayan Cooperative Group Housing Society Vs. Balwan Singh
(2015) TaxCorp(LJ) 8669 (SC)
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HC - Reduction of excess provision (credited to P&L account) allowable consequent to change in depreciation method while computing book profits u/s 115JA.
Dharmapuri Paper Mills Pvt Ltd. vs. JCIT
(2015) TaxCorp(LJ) 8661 (HC-MADRAS) · Section 115JA
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ITAT - An Indian company is not liable to deduct TDS u/s 195 while making software reimbursement payments to US parent company.
Lionbridge Technologies Private Limited vs. ITO
(2015) TaxCorp(LJ) 8660 (ITAT-MUMBAI)
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