All landmark rulings

1. Direct Tax ·Delhi High Court · 10 Feb 2015
   Gift cannot be said ingenuine if identity and relationship with donor established

   CIT. vs. Ranesh Suri

   (2015) TaxCorp(LJ) 7053 (HC-DELHI)

2. Direct Tax ·Delhi High Court · 08 Jan 2015
   Delay in issuing notice u/s 158BD by 10 months cannot be considered contemporaneous

   CIT. vs. Bharat Bhushan Jain

   (2015) TaxCorp(LJ) 7052 (HC-DELHI) · Section. 158BD

3. Direct Tax ·Delhi High Court · 07 Jan 2015
   Valid “Satisfaction Note” as required u/s 158BD requires proper recording of evidences for being satisfied

   CIT. vs. Manoj Bansal, Radhey Sham Bansal, Suresh Kumar Gupta

   (2015) TaxCorp(LJ) 7051 (HC-DELHI) · Section. 158BD

4. Direct Tax ·Karnataka High Court · 02 Jul 2015
   HC - TRO’s order declaring transfer of properties by way of mortgage in favour of a State financial corporation by the borrower, as void u/s 281 is not correct.

   CIT. vs. Karnataka State Industrial Investment Development Corporation Ltd.

   (2015) TaxCorp(LJ) 7043 (HC-KARNATAKA) · Section. 281

5. Direct Tax ·Supreme Court · 02 Jul 2015
   SC - ONGC's payments for supervisory services taxable u/s 44BB, not u/s 44D.

   Oil & Natural Gas Corporation Limited vs. CIT

   (2015) TaxCorp(LJ) 7042 (SC) · Sections. 44BB, 44D

6. Direct Tax ·ITAT Kolkata · 30 Jun 2015
   Section 271AA – Levy of Penalty on part disclosed income

   SPS Steel & Power Limited vs. ACIT

   (2015) TaxCorp(LJ) 7041 (ITAT-KOLKATA) · Section 271AA

7. Direct Tax ·Delhi High Court · 09 Feb 2015
   HC - Undisclosed income cannot be taxed in the hands of assessee does not belong to block period.

   CIT. Vs. Vivek Aggarwal

   (2015) TaxCorp(LJ) 7040 (HC-DELHI)

8. Direct Tax ·Delhi High Court · 09 Feb 2015
   HC - Provisions of section 2(22)(e) could be applied where assessee can be treated as both registered as well as beneficial shareholder.

   CIT (TDS) Vs. CJ International Hotel Pvt. Ltd.

   (2015) TaxCorp(LJ) 7039 (HC-DELHI) · Section 2(22)(e)

9. Direct Tax ·Delhi High Court · 09 Feb 2015
   HC - For relief u/s 54, even booking rights or rights to purchase the apartment or to obtain its letter is also capital asset.

   Commissioner of Income Tax Vs Ram Gopal

   (2015) TaxCorp(LJ) 7038 (HC-DELHI) · Section 54

10. Direct Tax ·ITAT Mumbai · 16 Jun 2015
    ITAT - Mere Entries found in third party books are not enough to make addition in the hands of the Assessee.

    Income tax Officer vs. Shri Harsharansingh Dharni

    (2015) TaxCorp(LJ) 7037 (ITAT-MUMBAI)

11. Direct Tax ·ITAT Delhi · 10 Jun 2015
    ITAT - Provisions of Section 2(22)(e) have no application to non-registered shareholders.

    IAG Promoters & Developers Pvt. Ltd. VS. ACIT

    (2015) TaxCorp(LJ) 7036 (ITAT-DELHI)

12. Direct Tax ·Delhi High Court · 18 Feb 2015
    HC - In order to make addition AO must enquire further and brought out contrary material to make addition u/s 68, if primary onus of proving identity, creditworthiness and genuineness was discharged by assessee.

    CIT. vs. Shokeen Properties Pvt. Ltd.

    (2015) TaxCorp(LJ) 7035 (HC-DELHI) · Section. 68

13. Direct Tax ·ITAT Delhi · 10 Jun 2015
    ITAT - Assessee has valued the closing stock of finished goods at realizable value/sale price and as such there is no understatement of closing stock.

    ACIT. Vs. Milton Cycle Industries Ltd.

    (2015) TaxCorp(LJ) 7034 (ITAT-DELHI)

14. Direct Tax ·ITAT Delhi · 16 Jun 2015
    ITAT - Instruction No.5/14 dated 10.07.2014 issued by the CBDT are applicable for the pending cases also. Appeals should Not Be Filed in Cases Where Tax Effect not Exceeds Monetary Limits

    ITO. Vs. Santosh Kumar (HUF)

    (2015) TaxCorp(LJ) 7033 (ITAT-DELHI)

15. Direct Tax ·ITAT Kolkata · 01 Jul 2015
    ITAT - Law on what is “undisclosed income” and levy of penalty on the basis of a “dumb” document and surrender by the assessee explained

    SPS Steel & Power Ltd vs. ACIT

    (2015) TaxCorp(LJ) 7032 (ITAT-KOLKATA) · Section 271AAA

16. Direct Tax ·ITAT Jaipur · 30 Jul 2015
    ITAT - The postal authorities are the agent of the recipient. There is a presumption that handing over notice to the postal department means that it has been served on the assessee.

    ITO vs. Shubhashri Panicker

    (2015) TaxCorp(LJ) 7031 (ITAT-JAIPUR) · Section 282

17. Direct Tax ·ITAT Chandigarh · 01 Jul 2015
    ITAT - Orders of the ITAT are binding on the lower authorities and should be followed unreservedly. Blatant failure to do so could attract contempt of court proceedings.

    DCIT vs. Sham Sunder Sharma

    (2015) TaxCorp(LJ) 7030 (ITAT-CHANDIGARH) · Section 250

18. Direct Tax ·ITAT Delhi · 30 Jun 2015
    ITAT - Law on time limit for passing penalty order u/s 271(1)(c) explained. Challenge by assessee to validity of penalty order entertained in Dept's appeal despite lack of C. O. /cross-appeal by assessee.

    ITO vs. Pandit Vijay Kant Sharma

    (2015) TaxCorp(LJ) 7029 (ITAT-DELHI) · Section 275(1)(a)

19. Direct Tax ·ITAT Delhi · 30 Jun 2015
    ITAT - Section 269SS does not apply to non-monetary book entry transactions of loans and advances. No penalty u/s 271D.

    CIT vs. Mahagun Technologies Pvt. Ltd

    (2015) TaxCorp(LJ) 7028 (ITAT-DELHI) · Section 271D

20. Direct Tax ·ITAT Kolkata · 30 Jun 2015
    ITAT - Law on levy of penalty u/s 271(1)(c) in a case where satisfaction is recorded in s. 153C/153D assessments by AO who is common to the searched party and the assessee explained

    KPC Medical College & Hospital vs. DCIT

    (2015) TaxCorp(LJ) 7027 (ITAT-KOLKATA) · Section 271(1)(c)

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