All landmark rulings

21,682 rulings

Desk: Both Direct Tax GST

Direct Tax ·ITAT Ahmedabad · 29 May 2015
ITAT - The revisionary power enshrined in section 263 of the Act is to be exercised sparingly and in a rare care.
Sintex Industries Ltd Vs The CIT-IV
(2015) TaxCorp(LJ) 6782 (ITAT-AHMEDABAD) · Section 263
Direct Tax ·ITAT Pune · 01 Jun 2015
ITAT - Since co-operative bank as has failed to create special reserve in audited books out of eligible profits, no sec. 36(1)(viii) deduction.
Shree Sharada Sahakari Bank Ltd. v. Income-tax Officer, Ward 6 (2), Pune
(2015) TaxCorp(LJ) 6781 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=40835&Category=ITAT&CategoryType=Zip
Direct Tax ·Karnataka High Court · 01 Jun 2015
HC - Contract of manufacturing goods as per specification without supply of material was contract of sale and not a contract for carrying on any work within meaning of section 194C.
Commissioner of Income-tax, Bangalore v. Allergan India (P.) Ltd.
(2015) TaxCorp(LJ) 6780 (HC-KARNATAKA) · http://taxcorp.in/FileOpenDT.aspx?ID=61217&Category=Judgment&CategoryType=Zip
Direct Tax ·ITAT Mumbai · 29 May 2015
ITAT - Dept's practice of filing appeals in a routine manner and without application of mind deprecated as it causes inconvenience to taxpayers
DCIT vs. Prescon Builders Pvt. Ltd
(2015) TaxCorp(LJ) 6779 (ITAT-MUMBAI)
Direct Tax ·ITAT Mumbai · 29 May 2015
ITAT - Law on treating purchases u/s 69C as "bogus" because the supplier is treated as a "hawala" dealer by the VAT authorities explained
ITO vs. Paresh Arvind Gandhi
(2015) TaxCorp(LJ) 6778 (ITAT-MUMBAI) · Section 69C
Direct Tax ·ITAT Jaipur · 28 May 2015
ITAT - Chartered Accountants found guilty of derogatory, defamatory and contemptuous language. The severity of accusations and fury emerging from their language is highly derogatory, defamatory and contemptuous, sent with a scheme and clear intention to intimidate judicial officers to desist from passing an unfavorable order
Mundra Woolen Mills (P) Ltd vs. ACIT
(2015) TaxCorp(LJ) 6777 (ITAT-JAIPUR)
Direct Tax ·ITAT Chandigarh · 29 May 2015
ITAT - For section 80-IC, the benefit of “substantial expansion” is applicable to units which were in existence at the time of announcement of scheme i.e. in AY 2004-05. Assesses who installed new units during this period and are now going for substantial expansion are not eligible to claim deduction u/s 80IC
Hycron Electronics vs. ITO
(2015) TaxCorp(LJ) 6776 (ITAT-CHANDIGARH) · Section 80-IC
Direct Tax ·ITAT Delhi · 30 May 2015
ITAT - Activities carried out by assessee (providing consultancy workshop training program, conducting research on behalf of NGOs related to WHO/UNO) would come under terms 'charitable purpose' in terms of section 2(15) entitled for exemption.
Praxis Institute of Participatory Practices v. Director of Income-tax (Exemption), Laxmi Nagar, New Delhi
(2015) TaxCorp(LJ) 6775 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=39969&Category=ITAT&CategoryType=Zip
Direct Tax ·ITAT Bangalore · 30 May 2015
ITAT - No transfer u/s 2(47)(v) when possession of asset was ever delivered by assessee to purchaser in part performance of agreement for sale.
Abdul Wahab v. Deputy Commissioner of Income-tax, Central Circle 1(3), Bangalore
(2015) TaxCorp(LJ) 6774 (ITAT-BANGALORE) · http://taxcorp.in/FileOpenDT.aspx?ID=40826&Category=ITAT&CategoryType=Zip
Direct Tax ·Madras High Court · 30 May 2015
HC - No transfer of property takes place u/s 2(47)(vi) on mere execution of power of attorney without any consideration.
Commissioner of Income-tax, Chennai v. C. Sugumaran
(2015) TaxCorp(LJ) 6773 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=58534&Category=Judgment&CategoryType=Zip
Direct Tax ·P&H High Court · 30 May 2015
HC - In case of sale of asset acquired after partition of HUF, date of acquisition of property by HUF being prior to 1-4-1981 would entitle assessee to calculate capital gains tax by taking cost inflation index for financial year 1981-82.
Deputy Commissioner of Income-tax, Circle - I, Bathinda v. Sushil Kumar
(2015) TaxCorp(LJ) 6772 (HC-P&H) · http://taxcorp.in/FileOpenDT.aspx?ID=61211&Category=Judgment&CategoryType=Zip
Direct Tax ·Bombay High Court · 30 May 2015
HC - No reassessment to disallow excess expenditure (labor charges) on basis of material obtained during subsequent assessment year, as the details were made available during assessment and re-opening of assessment would amount to mere change of opinion.
Commissioner of Income-tax-15 v. Srusti Diam
(2015) TaxCorp(LJ) 6771 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=60644&Category=Judgment&CategoryType=Zip
Direct Tax ·Delhi High Court · 29 May 2015
HC - Since 'reason to believe' recorded by AO did not refer to any material that came to his knowledge whereby it could be inferred that he could have formed a reasonable belief, no reassessment on basis of info of DDIT (Investigation) that cash seized from director belonged to him.
Krown Agro Foods (P.) Ltd. v. Assistant Commissioner of Income-tax, Circle 5(1), New Delhi
(2015) TaxCorp(LJ) 6770 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=60741&Category=Judgment&CategoryType=Zip
Direct Tax ·ITAT Ahmedabad · 29 May 2015
ITAT - No TDS u/s 194C on payments made to NR shipping Companies or its agents
Income Tax Officer, Ward-1(2), Ahmedabad v. Anchor Cagrolines (P.) Ltd.
(2015) TaxCorp(LJ) 6769 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=40825&Category=ITAT&CategoryType=Zip
Direct Tax ·ITAT Ahmedabad · 29 May 2015
ITAT - No section 80P relief on interest earned by co-operative society on idle funds kept with bank.
State Bank of India Employees Co-Op. Credit & Supply Society Ltd. v. Commissioner of Income-tax, Ahmedabad-1
(2015) TaxCorp(LJ) 6768 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=40197&Category=ITAT&CategoryType=Zip
Direct Tax ·AP High Court · 29 May 2015
HC - Initiation of block assessment even when information (assessee shown purchase of gift articles not only in its books of account but also in returns and on verification of relevant records) unearthed in search was reflected in return is not correct.
Commissioner of Income-tax- 3, Hyderabad v. Sunny Liquors (P.) Ltd.
(2015) TaxCorp(LJ) 6767 (HC-AP) · http://taxcorp.in/FileOpenDT.aspx?ID=59031&Category=Judgment&CategoryType=Zip
Direct Tax ·ITAT Delhi · 29 May 2015
ITAT - Where two comparables selected by TPO were improper on account of their huge turnover, brand value whereas another comparable selected by TPO was found inappropriate as it was developing its own software products, addition to assessee's ALP is not correct.
Ciena India (P.) Ltd. v. Deputy Commissioner of Income-tax, Circle-3 (1), New Delhi
(2015) TaxCorp(LJ) 6766 (ITAT-DELHI) · http://taxcorp.in/FileOpenINTL.aspx?ID=8087&Category=INTLDecisions&CategoryType=Zip
Direct Tax ·Bombay High Court · 29 May 2015
HC - Loss on writing off slow moving items (on basis of deterioration of various materials including raw-materials) in P&L account is allowable
Commissioner of Income-tax-1, Mumbai v. Indian Rare Earths Ltd.
(2015) TaxCorp(LJ) 6765 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=60946&Category=Judgment&CategoryType=Zip
Direct Tax ·Calcutta High Court · 29 May 2015
HC - Even if, initially it was not a return of loss and was a return of income, there is no way out to help the assessee from the net of section 80. Thus, loss assessed could not be carried forward when ROI was filed belatedly.
Peerless General Finance & Investment Co. Ltd. v. Commissioner of Income-tax, Kolkata-I
(2015) TaxCorp(LJ) 6764 (HC-CALCUTTA) · http://taxcorp.in/FileOpenDT.aspx?ID=61209&Category=Judgment&CategoryType=Zip
Direct Tax ·Delhi High Court · 28 May 2015
HC - Even though payment made by assessee (an Indian co.) to a German co. for carrying out overhaul repairs to aircrafts, amounts to technical services (‘FTS’) u/s 9(1)(vii) yet the same is not taxable in India, owing to exclusionary clause (b) thereto.
DIT vs Lufthansa Cargo India
(2015) TaxCorp(LJ) 6763 (HC-DELHI)

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