All landmark rulings

21,682 rulings

Desk: Both Direct Tax GST

Direct Tax ·ITAT Indore · 23 Jun 2015
ITAT - Since Explanation 1 to section 271(1)(c) is applicable in respect of particulars which have been concealed and not for furnishing inaccurate particulars of income, no levy penalty for furnishing 'inaccurate' particulars by invoking Explanation 1 to section 271(1)(c).
Deputy Commissioner of Income-tax v. Nepa Ltd.
(2015) TaxCorp(LJ) 6924 (ITAT-INDORE) · http://taxcorp.in/FileOpenDT.aspx?ID=41289&Category=ITAT&CategoryType=Zip
Direct Tax ·ITAT Hyderabad · 23 Jun 2015
ITAT - Provisions of section 292BB deeming a notice to be valid was inserted by Finance Act, 2008 with effect from 1-4-2008, the same do not have retrospective effect
Ghanshyamdas Gems & Jewels v. Deputy Commissioner of Income-tax
(2015) TaxCorp(LJ) 6923 (ITAT-HYDERABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=38579&Category=ITAT&CategoryType=Zip
Direct Tax ·ITAT Chennai · 23 Jun 2015
ITAT - Even if assessee submitted manual return though e-filing was mandatory for him, still deductions cannot be denied to assessee.
Deputy Commissioner of Income-tax v. Sucram Pharmaceuticals
(2015) TaxCorp(LJ) 6922 (ITAT-CHENNAI) · http://taxcorp.in/FileOpenDT.aspx?ID=37757&Category=ITAT&CategoryType=Zip
Direct Tax ·ITAT Chennai · 23 Jun 2015
ITAT - Commission paid to NR agent for procuring export orders are not assessable to tax in India as 'FTS'.
Assistant Commissioner of Income-tax, Co. Circle II (3), Chennai v. India Shoes Exports (P.) Ltd.
(2015) TaxCorp(LJ) 6921 (ITAT-CHENNAI) · http://taxcorp.in/FileOpenDT.aspx?ID=41290&Category=ITAT&CategoryType=Zip
Direct Tax ·Bombay High Court · 22 Jun 2015
HC - Compensation received against surrender of tenancy right in premises is taxable as ‘capital gains’ and not income from other sources
CIT. Vs. Kewal Silk Mills
(2015) TaxCorp(LJ) 6920 (HC-BOMBAY)
Direct Tax ·Delhi High Court · 22 Jun 2015
HC - Since assessee already furnished relevant document such as Swiss bank account statement and said facts were conveyed to authorities by sending letters on different dates, no criminal prosecution against assessee.
Shravan Gupta v. Assistant Commissioner of Income-tax
(2015) TaxCorp(LJ) 6919 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=60847&Category=Judgment&CategoryType=Zip
Direct Tax ·ITAT Mumbai · 19 Jun 2015
ITAT - Since assessee’s claim of deduction u/s 54F with respect to conversion of loan into sale consideration is highly debatable, no concealment penalty u/s. 271(1)(c).
Aftab Abdul Rehman Badshah vs. ITO
(2015) TaxCorp(LJ) 6918 (ITAT-MUMBAI) · Section. 54F
Direct Tax ·ITAT Pune · 19 Jun 2015
ITAT - Bifurcation of depreciation on vehicles based on the ‘turnover’, between its STP and Non-STP unit is not allowed.
Tata Technologies Limited vs. JCIT
(2015) TaxCorp(LJ) 6917 (ITAT-PUNE)
Direct Tax ·ITAT Mumbai · 19 Jun 2015
ITAT - Set off of loss from activity of horse-breeding against assessee’s other income is allowed. Sec 74A not applicable
Five Stars Shipping Co Pvt Ltd. Vs. DCIT
(2015) TaxCorp(LJ) 6916 (ITAT-MUMBAI) · Section. 74A
Direct Tax ·ITAT Panaji · 19 Jun 2015
ITAT - The moratorium of 60 days for the disposal of the appeal would expire only on 16.6.2015. Consequently, the Assessee cannot be given immediate early hearing.
Ryatar Sahakari Sakkare Karkhane vs. ITO
(2015) TaxCorp(LJ) 6915 (ITAT-PANAJI)
Direct Tax ·ITAT Chennai · 19 Jun 2015
ITAT - Diagnostic service are also covered under medical relief. Sec 11 exemption available.
Lions Club Of Annanagar Charitable Trust Vs. DDIT
(2015) TaxCorp(LJ) 6914 (ITAT-CHENNAI) · Section. 11
Direct Tax ·ITAT Delhi · 12 Jun 2015
ITAT - In a case where undisclosed income is already charged to tax at a heavy rate of 60 percent (block assessment), the provisions like section 158BF relating to non-levy of interest and certain penalties in certain cases is justified.
ACIT. Vs. Sh. Akhil Jain
(2015) TaxCorp(LJ) 6913 (ITAT-DELHI) · Section 234B
Direct Tax ·ITAT Delhi · 12 Jun 2015
ITAT - It cannot be stated that assessee has concealed income by furnishing inaccurate particulars of income and explanation given by the assessee cannot be brushed aside totally false. No concealment penalty.
M/s. Allgrow Finance & Investment Pvt. Ltd. Vs. ITO
(2015) TaxCorp(LJ) 6912 (ITAT-DELHI)
Direct Tax ·ITAT Kolkata · 15 Jun 2015
ITAT - No Exemption U/s 54B on amount invested for Leveling and filling of new agriculture land.
A.C.I.T. Vs. Smt Sudha Jajodia
(2015) TaxCorp(LJ) 6911 (ITAT-KOLKATA) · Section. 54B
Direct Tax ·Delhi High Court · 29 May 2015
HC - UAE Concern acts as a liaisoning agent for the assessee, and receives its remuneration from each client that it successfully solicits for the assessee. Such services cannot be said to be included within the meaning of consultancy services. No TDS obligation on remittance.
CIT. vs. Grup ISM P. Ltd.
(2015) TaxCorp(LJ) 6910 (HC-DELHI)
Direct Tax ·Bombay High Court · 19 Jun 2015
HC - Assessee-society was providing credit mainly to its members and its transactions with non-members were insignificant. Deduction u/s 80P cannot be denied to society merely due to receipt of small portion of revenue from non-members
Quepem Urban Co-operative Credit Society Ltd. v. Assistant Commissioner of Income-tax, Circle-1, Margoa
(2015) TaxCorp(LJ) 6909 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=61322&Category=Judgment&CategoryType=Zip
Direct Tax ·Bombay High Court · 19 Jun 2015
HC - Interest paid on partners' capital which was utilized for construction of property from which rental income was earned was allowable.
Commissioner of Income-tax-12, Mumbai v. Sane & Doshi Enterprises
(2015) TaxCorp(LJ) 6908 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=60958&Category=Judgment&CategoryType=Zip
Direct Tax ·ITAT Kolkata · 19 Jun 2015
ITAT - Cost of reworking done abroad reimbursed to NR is not FTS (not taxable in India under section 9(1)(vii)), where re-working has no link with business of payer in India
Deputy Commissioner of Income-tax, Circle -11, Kolkata v. A. T. & S India (P.) Ltd.
(2015) TaxCorp(LJ) 6907 (ITAT-KOLKATA) · http://taxcorp.in/FileOpenDT.aspx?ID=41223&Category=ITAT&CategoryType=Zip
Direct Tax ·ITAT Hyderabad · 19 Jun 2015
ITAT - Director is not entitled to challenge the order passed against Company if dues of Company were not recoverable from him under sec. 179 as he could not be treated as an aggrieved party.
R. Subba Rao v. Income-tax Officer, Ward 3 (4), Hyderabad
(2015) TaxCorp(LJ) 6906 (ITAT-HYDERABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=39984&Category=ITAT&CategoryType=Zip
Direct Tax ·ITAT Mumbai · 19 Jun 2015
ITAT - Since all products sold by assessee fell in category of insecticides and were used as supplementary to each other, all insecticide products sold by assessee to its AE in each country would be clubbed and aggregated together to compute ALP.
Godrej Sara Lee Ltd. v. Additional Commissioner of Income-tax, Range 10 (2), Mumbai
(2015) TaxCorp(LJ) 6905 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenINTL.aspx?ID=8000&Category=INTLDecisions&CategoryType=Zip

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