All landmark rulings

1. Direct Tax ·ITAT Chennai · 26 Jun 2015
   ITAT - Addition u/s 68 needs to be deleted once source of ‘source of credit’ is proved.

   Subbiah Ramanathan and R.M. Janaki Vs The Income Tax Officer

   (2015) TaxCorp(LJ) 6965 (ITAT-CHENNAI) · Section. 68

2. Direct Tax ·ITAT Cochin · 26 Jun 2015
   ITAT - The fact of interest payment for delayed TDS-deposit is of relevance, penalty levy u/s 271C upheld.

   Classic Concepts Home India (P) Ltd. vs. ACIT

   (2015) TaxCorp(LJ) 6964 (ITAT-COCHIN) · Section. 271C

3. Direct Tax ·Allahabad High Court · 26 Jun 2015
   HC - Mere filing of appeal does not suo-moto stay recovery proceedings. AO to exercise discretion u/s 220(6) for granting stay.

   Jalan Jee Polytex Ltd. vs. ACIT and Anr.

   (2015) TaxCorp(LJ) 6963 (HC-ALLAHABAD)

4. Direct Tax ·Uttarakhand High Court · 26 Jun 2015
   HC - Deduction allowable u/s 37 to ONGC for royalty payments to State Govt. No violation of Sec 6A of the Oilfield (Exploration and Development Act), 1948. Explanation to Sec 37 not triggered.

   CIT. vs. Oil and Natural Gas Corporation

   (2015) TaxCorp(LJ) 6962 (HC-UTTARAKHAND) · Section. 37

5. Direct Tax ·ITAT Pune · 26 Jun 2015
   ITAT - Where prices varies on account of various issues, then CUP method cannot be applied and it is most appropriate to apply TNMM method.

   Amphenol Interconnect India (P.) Ltd. v. Additional Commissioner of Income-tax, Range-8

   (2015) TaxCorp(LJ) 6961 (ITAT-PUNE) · http://taxcorp.in/FileOpenINTL.aspx?ID=8273&Category=INTLDecisions&CategoryType=Zip

6. Direct Tax ·ITAT Mumbai · 26 Jun 2015
   ITAT - Since assessee was occupying house as per independent rent agreement with employer (landlord) and no benefit accrued to assessee in his capacity of employee, just because assessee was employee could not mean that he was deriving perquisite u/s 17(2)(ii).

   Assistant Commissioner of Income-tax, Central Circle-2, Mumbai v. Yusuf K. Hamied

   (2015) TaxCorp(LJ) 6960 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=41357&Category=ITAT&CategoryType=Zip

7. Direct Tax ·ITAT Pune · 26 Jun 2015
   ITAT - In the absence of any evidence to suggest that transaction allegedly noted on loose paper pertained to year in which assessee firm was in existence; No sec. 69 additions in name of firm can be made after its dissolution.

   Mantri Developers v. Income-tax Officer

   (2015) TaxCorp(LJ) 6959 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=41356&Category=ITAT&CategoryType=Zip

8. Direct Tax ·ITAT Mumbai · 26 Jun 2015
   ITAT - India-Singapore DTAA - Activities related to construction or installation are specifically covered under Article 5(3) and not under Article 5(6).

   Kreuz Subsea Pte. Ltd. v. Deputy Director of Income-tax (International Taxation) 3 (1), Mumbai

   (2015) TaxCorp(LJ) 6958 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenINTL.aspx?ID=8272&Category=INTLDecisions&CategoryType=Zip

9. Direct Tax ·Gujarat High Court · 26 Jun 2015
   HC - Advance received by contractor cannot be taxed on receipt basis.

   Rudraksh Builders v. Assistant Commissioner of Income-tax

   (2015) TaxCorp(LJ) 6957 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=59068&Category=Judgment&CategoryType=Zip

10. Direct Tax ·ITAT Kolkata · 25 Jun 2015
    ITAT - Offshore designs/drawings were used by the Indian customers for setting up their plants and not for any commercial exploitation; income not "royalty" and taxable as ‘business income’ in the hands of German co. (‘assessee’).

    Outotec GmbH Vs Deputy Director of Income Tax, (International Taxation)-2(1)

    (2015) TaxCorp(LJ) 6956 (ITAT-KOLKATA)

11. Direct Tax ·ITAT Delhi · 19 Jun 2015
    ITAT - Deduction of foreclosure or prepayment charges also falls under the purview of section 2(28A) read with section 24(b) and are eligible for deduction u/s 24(b).

    Subha Singhvi Vs. ACIT, Circle 32(1), New Delhi

    (2015) TaxCorp(LJ) 6955 (ITAT-DELHI) · Section. 24(b)

12. Direct Tax ·ITAT Ahmedabad · 12 Jun 2015
    ITAT - “Goodwill” is an asset under Explanation 3(b) to section 32 (1) and depreciation on Goodwill is allowed.

    M/s. Sujag Fine Chemicals Pvt. Ltd. vs ITO

    (2015) TaxCorp(LJ) 6954 (ITAT-AHMEDABAD)

13. Direct Tax ·ITAT Chandigarh · 16 Jun 2015
    ITAT - Assessee can appeal against wrong appeal effect order passed by the Assessing Officer.

    Appeal can be filed against wrong appeal effect given by Assessing Officer

    (2015) TaxCorp(LJ) 6953 (ITAT-CHANDIGARH)

14. Direct Tax ·ITAT Lucknow · 31 Mar 2015
    ITAT - While calculating relief u/s 10(23C)(iiiad) receipts from more than one educational institutions cannot be clubbed

    Income Tax Officer. Vs. M/s Chironji Lal Virendrapal Saraswati Shiksha Parishad

    (2015) TaxCorp(LJ) 6952 (ITAT-LUCKNOW) · Section. 10(23C)(iiiad)

15. Direct Tax ·ITAT Delhi · 12 Jun 2015
    ITAT - The issue of valid jurisdiction is a condition precedent to the validity of any assessment under Section 147. Since the ITO who issued notice u/s 148 initially, had no valid jurisdiction over the assessee, reassessment quashed.

    Mukesh Kumar Vs. ITO Ward 26(3), New Delhi

    (2015) TaxCorp(LJ) 6951 (ITAT-DELHI) · Section. 148

16. Direct Tax ·ITAT Pune · 25 Jun 2015
    ITAT - Where a comparable company is operating in a different business model than that of assessee, it should be excluded from comparable list.

    Maximize Learning (P.) Ltd. v. Assistant Commissioner of Income-tax, Circle 11 (2), Pune

    (2015) TaxCorp(LJ) 6950 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=41343&Category=ITAT&CategoryType=Zip

17. Direct Tax ·Karnataka High Court · 25 Jun 2015
    HC - Since all conditions laid down in rule 2BA were fulfilled, SBI employee would be entitled to exemption under section 10(10C) on ex gratia payment.

    Commissioner of Income-tax v. Appasaheb Baburao Kamble

    (2015) TaxCorp(LJ) 6949 (HC-KARNATAKA) · http://taxcorp.in/FileOpenDT.aspx?ID=59278&Category=Judgment&CategoryType=Zip

18. Direct Tax ·Rajasthan High Court · 25 Jun 2015
    HC - Failure to obtain proper sanction of Commissioner or Chief Commissioner for reassessment notice is not curable by resorting to sec. 292BB.

    Dhadda Exports v. Income-tax officer, Ward-1 (1), Jaipur

    (2015) TaxCorp(LJ) 6948 (HC-RAJASTHAN) · http://taxcorp.in/FileOpenDT.aspx?ID=60819&Category=Judgment&CategoryType=Zip

19. Direct Tax ·Delhi High Court · 25 Jun 2015
    HC - Since assessee had simply filed a petition before court for short-payments of processing charges, but did not obtain any right to receive payments, no addition can be made.

    Commissioner of Income-tax v. Sivalik Cellulose Ltd.

    (2015) TaxCorp(LJ) 6947 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=60452&Category=Judgment&CategoryType=Zip

20. Direct Tax ·ITAT Jaipur · 25 Jun 2015
    ITAT - When in case of other co-owners agricultural land was not regarded as capital asset being situated 8 Kms. away from local municipal limits, no capital gain arose on sale of land by the assessee.

    Sita Ram Sharma v. Income-tax Officer, Ward- 7 (2), Jaipur

    (2015) TaxCorp(LJ) 6946 (ITAT-JAIPUR) · http://taxcorp.in/FileOpenDT.aspx?ID=41342&Category=ITAT&CategoryType=Zip

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