All landmark rulings

21,682 rulings

Desk: Both Direct Tax GST

Direct Tax ·ITAT Mumbai · 18 Aug 2015
ITAT - Once the assessee has complied with the provisions of sec. 195 and obtained a certificate from the AO in accordance with the requirement of sec. 195(2) then, the assessee cannot be penalized by invoking the provisions of sec. 40a(i).
DCIT. vs. Carl Zeiss India (P) Ltd.
(2015) TaxCorp(LJ) 8473 (ITAT-MUMBAI) · Section. 40(a)(i)
Direct Tax ·ITAT Mumbai · 17 Aug 2015
ITAT - Where entire ‘reasons recorded’ for reassessment proceedings initiated by AO are purely in the realm of surmises”, the same needs to be quashed.
Popley Diamond and Gold Plaza Pvt. Ltd. vs. DCIT
(2015) TaxCorp(LJ) 8472 (ITAT-MUMBAI)
Direct Tax ·Bombay High Court · 17 Aug 2015
HC - No deduction to assessee for payment for preventing compulsory acquisition of land as the same is capital in nature.
Sandvik Asia Limited vs. DCIT
(2015) TaxCorp(LJ) 8471 (HC-BOMBAY)
Direct Tax ·Bombay High Court · 15 Aug 2015
HC - Amount received by retiring partner towards goodwill in AY 1992-93 not taxable as casual & non-recurring receipt under Sec 10(3).
Manish R. Shah vs. ITO
(2015) TaxCorp(LJ) 8470 (HC-BOMBAY)
Direct Tax ·P&H High Court · 14 Aug 2015
HC - Merely because a person or an entity is a partner of a firm it does not necessarily follow that he was aware of every detail of the income tax returns filed by the firm. Interest u/s 215 deleted.
CIT. vs. Mahesh Munjal
(2015) TaxCorp(LJ) 8469 (HC-P&H) · Section. 215
Direct Tax ·Bombay High Court · 14 Aug 2015
HC - Assessee’s claim of bad-debts on account of write-off of inter-corporate deposits (‘ICDs’) receivable allowed.
The Commissioner Income Tax Vs. Pudumjee Pulp & Paper Mills Ltd.
(2015) TaxCorp(LJ) 8468 (HC-BOMBAY)
Direct Tax ·Supreme Court · 14 Aug 2015
SC - CBDT’s SLP against Gujarat HC ruling dismissed which allowed writ praying return filing due-date extension.
CBDT. Vs. All Gujarat Federation of Tax Consultants
(2015) TaxCorp(LJ) 8467 (SC)
Direct Tax ·ITAT Ahmedabad · 14 Aug 2015
ITAT - Since the sole reason based on which reassessment was initiated stands deleted, re-assessment based on issues not forming subject matter of re-assessment notice to be quashed. Explanation 3 to Sec 147, inserted by Finance (No.2) Act, 2009, empowering AO to make additions for issues not covered by Sec 148 notice, was only prospective in nature.
Sabic Research & Technology Pvt. Ltd. vs. ITO
(2015) TaxCorp(LJ) 8466 (ITAT-AHMEDABAD) · Section. 147
Direct Tax ·ITAT Delhi · 14 Aug 2015
ITAT - Amount spent on buy-back of shares of employees while computing capital gains upon transfer of assessee’s division on slump-sale basis is allowable as deduction u/s 48.
DCIT. vs. Nitrex Chemicals India Ltd.
(2015) TaxCorp(LJ) 8465 (ITAT-DELHI) · Section. 48
Direct Tax ·Supreme Court · 13 Aug 2015
Interim stay of the operation and implementation of the judgement of the Bombay High Court upholding the constitutional validity of service-tax on lawyers granted
Bombay Bar Association vs. UOI
(2015) TaxCorp(LJ) 8464 (SC)
Direct Tax ·ITAT Mumbai · 13 Aug 2015
S. 271(1)(c): Claim that interest income is eligible for s. 10B exemption, though upheld by the ITAT for an earlier year, is so implausible that it attracts penalty for concealment/ furnishing inaccurate particulars of income
DCIT vs. Cybertech Systems & Software P. Ltd
(2015) TaxCorp(LJ) 8463 (ITAT-MUMBAI) · Section 271(1)(c)
Direct Tax ·ITAT Chandigarh · 13 Aug 2015
S. 144: If books are rejected and Gross Profit rate is estimated, separate disallowance of expenses cannot be made
CIT vs. Hind Agro Industries
(2015) TaxCorp(LJ) 8462 (ITAT-CHANDIGARH) · Section 144
Direct Tax ·ITAT Delhi · 13 Aug 2015
Strictures passed against the Dept for ‘mischievous adamancy to attempt to mislead the Tribunal’, ‘obduracy and adamancy in filing meritless appeal’, ‘travesty of justice’, ‘Mocking at the system by filing the appeals’, ‘grave assault on the trust and reputation of fair play enjoyed by the tax administration’ etc
ACIT vs. R.P.G.Credit & Capital Ltd
(2015) TaxCorp(LJ) 8461 (ITAT-DELHI)
Direct Tax ·ITAT Bangalore · 12 Aug 2015
S. 41(1)/ 68: Old unclaimed liabilites which are not written back by the assessee can neither be assessed as "cash credits" u/s 68 nor assessed u/s 41(1) as "remission or cessation of liability"
Glen Williams vs. ACIT
(2015) TaxCorp(LJ) 8451 (ITAT-BANGALORE) · Sections 41(1), 68
Direct Tax ·Bombay High Court · 12 Aug 2015
S. 36(1)(vii)/ 36(2): The principal part of the Inter-corporate Debt (ICD) can be claimed as a bad debt if the interest thereon has been offered to tax in some year
CIT vs. Pudumjee Pulp & Paper Mills Ltd
(2015) TaxCorp(LJ) 8450 (HC-BOMBAY) · Section 36(1)(vii), 36(2)
Direct Tax ·Supreme Court · 13 Aug 2015
HC - Advances paid towards acquisition of assets amounts to utilization of capital gains for the purpose of exemption u/s 54G.
Fibre Boards (P) Ltd. vs. CIT
(2015) TaxCorp(LJ) 8449 (SC)
Direct Tax ·Delhi High Court · 12 Aug 2015
HC - “Wheeling charges” not taxable as FTS u/s 194J as as there is absence of human intervention.
CIT. vs. Delhi Trans Co. Ltd.
(2015) TaxCorp(LJ) 8448 (HC-DELHI) · Section 194J
Direct Tax ·ITAT Visakhapatnam · 12 Aug 2015
ITAT - No TDS u/s 194H on incentive payments to retailers under the trade-discount scheme. Payments merely formed part of the sale-promotion scheme. There was no direct connection between assessee and retail dealers.
United Breweries Ltd. vs. ITO.
(2015) TaxCorp(LJ) 8447 (ITAT-VISAKHAPATNAM) · Section. 194H
Direct Tax ·Delhi High Court · 12 Aug 2015
HC - Cconversion of interest payable into equity shares should be treated as ‘actual payment’, as such section 43B disallowance not triggered.
CIT. vs. Rathi Graphics Technologies Ltd.
(2015) TaxCorp(LJ) 8437 (HC-DELHI) · Section. 43B
Direct Tax ·Bombay High Court · 11 Aug 2015
HC - "Political sensitivity" irrelevant in tax litigation
Jagati Publications Ltd. Vs. The president, Income Tax Appellate Tribunal
(2015) TaxCorp(LJ) 8436 (HC-BOMBAY)

Headnote lines are open to everyone. The full headnote and the judgment text open with a subscription — see plans or sign in.