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ITAT - Amount received by overseas Telecom assessee under the “Restoration Agreement” with VSNL is not ‘fees for technical services’ u/s 9(1)(vii).
Flag Telecom Group Limited Vs. Dy. Director of Income Tax (International Taxation)
(2015) TaxCorp(LJ) 6904 (ITAT-MUMBAI)
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HC - Registration of ‘agreement to sale’ not mandatory, except in cases covered by Sec 53A. As per said section, transferor is debarred from enforcing against transferee any right in respect of the property, where transferee in part performance of contract enjoys possession and has performed / is willing to perform his part of the contract.
Swarnendu Das Gupta vs. Sadhana Banerjee
(2015) TaxCorp(LJ) 6903 (HC-CALCUTTA) · Section. 53A
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Mere denial by RBI to Register Assessee as NBFC do not change nature of business income to Income from Other Sources
Premius Investment and Finance Ltd. vs. DCIT
(2015) TaxCorp(LJ) 6902 (ITAT-MUMBAI)
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ITAT - A company engaged in services for 2D and 3D animation is functionally different from a company in software development services
Kodiak Networks India (P.) Ltd. v. Deputy Commissioner of Income-tax, Circle 11 (5), Bangalore
(2015) TaxCorp(LJ) 6901 (ITAT-BANGALORE) · http://taxcorp.in/FileOpenINTL.aspx?ID=8111&Category=INTLDecisions&CategoryType=Zip
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ITAT - AO has powers to determine actual cost of used asset under Section 43(1) (Explanation 3) after satisfying that its actual price of such asset had been inflated or deflated for an ulterior purpose.
Assistant Commissioner of Income-tax, Circle-I, Meerut v. Jitender Kumar Gupta
(2015) TaxCorp(LJ) 6900 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=40713&Category=ITAT&CategoryType=Zip
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HC (FB) - If one single article / unit / component itself is sufficient to fulfill the functioning of shuttering, then it could be treated as a ‘plant’, but not otherwise. 100% depreciation claim on each item of “shuttering material” valuing less than Rs. 5000 denied.
CIT. vs. S.Vijaya Kumar
(2015) TaxCorp(LJ) 6895 (HC-AP)
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HC - Reserve for export market development allowance is not to be added while computing profits of general insurance business
The Oriental Insurance Co. Ltd. vs. CIT
(2015) TaxCorp(LJ) 6894 (HC-DELHI)
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HC - RTI Act - Disclosure of income-tax returns of a politician on the ground that it is necessary for “purity of elections” and “probity in public life” is not possible as it is not in “public interest”
Shailesh Gandhi vs. CIC & Ajit Pawar
(2015) TaxCorp(LJ) 6890 (HC-BOMBAY)
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ITAT - Only payments "in pursuance of a contract" are subject to TDS u/s 194C. Payments made under a legal obligation are not covered.
Jalandhar Improvement Trust vs. ITO
(2015) TaxCorp(LJ) 6889 (ITAT-AMRITSAR) · Section. 194C
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ITAT - Installation/setting- up/repairing/servicing/maintenance/capacity augmentation require human intervention but after completing this process, mere interconnection between the operators is automatic and does not require any human intervention. Roaming charges paid by telecom service provider to other mobile operators is not fees for FTS, No TDS u/s 194J.
Bharti Hexacom Limited Vs. ITO
(2015) TaxCorp(LJ) 6884 (ITAT-JAIPUR) · Section. 194J
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HC - Exemption is available to assessee on income from sale of agriculture land for AY 2009-10, as land is situated beyond 8 kms from municipality and cannot be held as capital asset u/s 2(14).
CIT. vs. Nitish Rameshchandra Chordia
(2015) TaxCorp(LJ) 6877 (HC-BOMBAY)
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ITAT - Amendment by Finance Act, 2008 to Proviso to Sec 2(15) cannot be the ground for denying charitable trust's registration status u/s 12A & 12AA as rider in first proviso to Sec 2(15) could only come to play on 'year to year' basis and not in absolute terms.
Kapurthala Improvement Trust vs. CIT
(2015) TaxCorp(LJ) 6876 (ITAT-AMRITSAR) · Sections. 2(15), 12A
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ITAT - Exemption of 15% is not dependent on any other condition except that the trust or society should be registered u/s 12AA
ITO. vs. Bhartiya Vidya Mandir Trust
(2015) TaxCorp(LJ) 6875 (ITAT-CHANDIGARH)
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ITAT - AO was not justified in treating credit of Director’s remuneration in his account as loan transaction and thereby imposing penalty u/s.271D. Penalty u/s 271D & 271E cannot be levied on transaction entered through journal.
Goldstar Electricals Pvt. Ltd. Vs. ACIT
(2015) TaxCorp(LJ) 6874 (ITAT-MUMBAI) · Section. 271D, 271E
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HC - Income tax is levied on real income and not hypothetical income. If income does not result there cannot be tax.
The Liquidator Polymerland India P. Ltd. Versus DCIT
(2015) TaxCorp(LJ) 6873 (HC-DELHI)
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ITAT - In the absence of PE and business connection in India, no disallowance u/s 40(a)(ia) for not deducting TDS u/s 195.
JCIT. Vs. M/s. Tirupati Plywood Industries
(2015) TaxCorp(LJ) 6872 (ITAT-KOLKATA) · Sections. 40(a)(ia), 195
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ITAT - Mere acceptance by the assessee of the addition does not make entitle the department to levy concealment penalty.
IGL Gemstones Pvt. Ltd. Vs. DCIT
(2015) TaxCorp(LJ) 6871 (ITAT-MUMBAI)
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ITAT - Fee levied u/s 234E for delayed filing of TDS return is to be deleted as there is no enabling provision u/s 200A, prior to June 1, 2015, for raising demand in respect of levy of fee u/s 234E.
Sibia Healthcare Private Limited vs. DCIT
(2015) TaxCorp(LJ) 6869 (ITAT-AMRITSAR) · Sections. 234E, 200A
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ITAT - Since assessee is only a co-owner of property, cannot handover the possession and materialize the sale-deed owing to civil suit filed by other co-owners, therefore no capital gains, pursuant to assessee entering into sale-deed of a property.
Pritam Laxman Walvekar vs. ITO
(2015) TaxCorp(LJ) 6868 (ITAT-PUNE)
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ITAT - Rectification permissible based on subsequent SC ruling.
Dashrathbhai V. Patel and Ors. vs. DCIT
(2015) TaxCorp(LJ) 6867 (ITAT-AHMEDABAD)
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