All landmark rulings

21,662 rulings

Desk: Both Direct Tax GST

Direct Tax ·ITAT Mumbai · 04 Sep 2015
ITAT - Interest income earned by an NBFC is taxable as business income and not as income from other sources
Warrior (Investment) Ltd. vs. ITO
(2015) TaxCorp(LJ) 8659 (ITAT-MUMBAI)
Direct Tax ·Bombay High Court · 04 Sep 2015
HC -Premium paid to the departing group of shareholders was on account of business exigency and allowable as revenue expenditure.
CIT. vs. Bramha Bazar Hotels Ltd.
(2015) TaxCorp(LJ) 8658 (HC-BOMBAY)
Direct Tax ·ITAT Ahmedabad · 10 Aug 2015
ITAT - The estimated opinion formed by the AO can only be interfered by CIT, if it is established on record that such an opinion was formed by the AO on misinterpretation or misconstruction of facts or based on extraneous reasons.
Shri Isharbhai Chotabhai Patel Vs. CIT
(2015) TaxCorp(LJ) 8644 (ITAT-AHMEDABAD)
Direct Tax ·ITAT Kolkata · 01 Jul 2015
ITAT - Profit that has been attributable to tradng activity corresponding to conversion of stock-in- trade into investment is to be treated as ‘business income’. Converting stock-n-trade into investment does not alter the character, nature and intention of that particular transaction.
ITO. Vs. M/s. Nupur Carpets Pvt. Ltd.
(2015) TaxCorp(LJ) 8643 (ITAT-KOLKATA)
Direct Tax ·ITAT Kolkata · 26 Aug 2015
ITAT - Interest subsidy, transport subsidy and power subsidy received by the assessee are eligible for deduction u/s 80IB of the Act.
DCIT. Vs. M/s. Maithan Smelters Ltd.
(2015) TaxCorp(LJ) 8642 (ITAT-KOLKATA) · Section. 80IB
Direct Tax ·ITAT Kolkata · 01 Jul 2015
ITAT - Even oral contract is sufficient, as such once labour payments are made, clear-cut contract exists between the parties. Provisions of section 40(a)(ia) attracted.
I.T.O. Vs. M/s. Talwar Brothers Pvt. Ltd.
(2015) TaxCorp(LJ) 8641 (ITAT-KOLKATA)
Direct Tax ·ITAT Kolkata · 03 Jul 2015
ITAT - Central Excise Refund and Sales Tax Remission are eligible deductions u/s 80IC and that the CIT was not justified in initiating proceedings u/s 263 of the Act.
Shri Manoj Garg Vs. C.I.T., Kolkata
(2015) TaxCorp(LJ) 8640 (ITAT-KOLKATA) · Section. 80IC
Direct Tax ·ITAT Bangalore · 26 Aug 2015
ITAT - Show cause notice u/s 274 is defective if it does not spell out the grounds on which penalty is sought to be imposed.
Shri B L Dasraj Urs Vs. I.T.O
(2015) TaxCorp(LJ) 8639 (ITAT-BANGALORE) · Section. 274
Direct Tax ·ITAT Kolkata · 09 Jul 2015
ITAT - Slight difference in the name of the person does not mean that it is not the same person provided the genuineness of the transaction is proved.
I.T.O Vs. Smt. Mala Gupta
(2015) TaxCorp(LJ) 8638 (ITAT-KOLKATA)
Direct Tax ·Delhi High Court · 01 Sep 2015
S. 253/ Rule 27: While the Tribunal can examine all questions which relate to the subject matter of an appeal but, once an issue has attained finality and is not a subject matter of the dispute before the Tribunal, it would not be open for the Tribunal to reopen the issue on the pretext of examining a question of law
CIT vs. Divine Infracon Pvt. Ltd
(2015) TaxCorp(LJ) 8636 (HC-DELHI) · Section 253
Direct Tax ·Delhi High Court · 01 Sep 2015
S. 271(1)(c): Claim that compensation received from foreign party is a capital receipt, though wrong on merits, does not attract penalty if assessee disclosed facts in ROI and was supported by a legal opinion
Pr. CIT vs. Control And Switchgear Ltd
(2015) TaxCorp(LJ) 8635 (HC-DELHI) · Section 271(1)(c)
Direct Tax ·ITAT Delhi · 01 Sep 2015
ITAT- A mere change in the head of income is a case of bona fide mistake which does not attract penalty.
Simran Singh Gambhir vs. DDIT
(2015) TaxCorp(LJ) 8634 (ITAT-DELHI) · Section 271(1)(c)
Direct Tax ·Karnataka High Court · 02 Sep 2015
HC - Sec 10A exemption available to assessee even when it was sub-contracting part of its software development work (‘onsite work’) to AEs abroad.
CIT. Vs. Mphasis Software & Service India Pvt Ltd.
(2015) TaxCorp(LJ) 8624 (HC-KARNATAKA) · Section. 10A
Direct Tax ·ITAT Bangalore · 24 Jul 2015
ITAT - When short landing of goods is common having regard to the nature of goods and such loss is negligible , then it has to be allowed deduction as business expenditure.
M/s Sigma Aldrich Chemicals Pvt. Ltd. vs. Addl. CIT, Bangalore
(2015) TaxCorp(LJ) 8623 (ITAT-BANGALORE)
Direct Tax ·Delhi High Court · 01 Sep 2015
HC - Second proviso inserted vide Finance Act, 2012 which provides that Sec 40(a)(ia) will not be attracted where payee has deposited tax is retrospective in nature
CIT. vs. Ansal Land Mark Township (P) Ltd.
(2015) TaxCorp(LJ) 8614 (HC-DELHI) · Section. 40(a)(ia)
Direct Tax ·Delhi High Court · 01 Sep 2015
HC - No deemed dividend addition can be made during block assessment u/s 153A since no incriminating material was found during search and assessments for subjects AYs ‘completed’ as on search-date.
CIT. vs. Kabul Chawla
(2015) TaxCorp(LJ) 8613 (HC-DELHI) · Section. 153A
Direct Tax ·ITAT Bangalore · 31 Aug 2015
ITAT - Carry forward of excess expenditure incurred by assessee-trust over its income for setting-off against subsequent years’ income is allowable u/s 11(1)(a).
Jyothy Charitable Trust vs. DIT(E)
(2015) TaxCorp(LJ) 8612 (ITAT-BANGALORE)
Direct Tax ·Madras High Court · 28 Aug 2015
HC - Not correct to hold that since the new unit set up could not run on a stand-alone basis without the support from the existing unit, deduction u/s 80IA be denied as assessee did not set-up a “new” unit.
The Ramco Cements Limited vs. JCIT
(2015) TaxCorp(LJ) 8611 (HC-MADRAS) · Section. 80IA
Direct Tax ·ITAT Delhi · 28 Aug 2015
ITAT - Instruction No.5/14 dated 10.07.2014 issued by the CBDT are applicable for the pending cases also.
DCIT. Vs. Garuda Imaging & Diagnostics Pvt. Ltd.
(2015) TaxCorp(LJ) 8610 (ITAT-DELHI)
Direct Tax ·ITAT Lucknow · 28 Aug 2015
ITAT - Assessment not valid since notice u/s 143(2) were issued on last day of limitation period.
ITO. Vs. Rajesh Agarwal
(2015) TaxCorp(LJ) 8609 (ITAT-LUCKNOW) · Section. 143(2)

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