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HC - Discount allowed by assessee to its distributors for sale of startup packs and prepaid recharge coupons amounts to 'commission' and is liable to TDS u/s 194H as agreement terms show principal-agent relationship.
Hutchison vs CIT
(2015) TaxCorp(LJ) 6762 (HC-CALCUTTA)
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ITAT - An Indian company is not liable to deduct TDS u/s 195 on purchases made from its foreign AE (including its branch), as per the application of 'non-discrimination' clause under Article 24 of India-Japan DTAA.
Mitsubishi Corporation India Private Limited vs. DCIT
(2015) TaxCorp(LJ) 6751 (ITAT-DELHI) · Section 40(a)
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ITAT - Section 11 relief to hospital cannot be denied merely because it did not provide concessional treatment to indigent/poor patients
Income-tax Officer, Ward -3, Ahmednagar v. Noble Medical Foundation & Research Centre
(2015) TaxCorp(LJ) 6750 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=40423&Category=ITAT&CategoryType=Zip
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HC - Waiver of loan in one time settlement was not taxable as revenue receipts as loan was raised to purchase capital asset
Commissioner of Income-tax-8 v. Santogen Silk Mills Ltd.
(2015) TaxCorp(LJ) 6749 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=60791&Category=Judgment&CategoryType=Zip
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ITAT - On dissolution of firm, cost of acquisition of land to partner would be deemed as its book value on date of transfer
Bimco Electrical Products (P.) Ltd. v. Assistant Commissioner of Income-tax, Circle-1 (3), Hyderabad
(2015) TaxCorp(LJ) 6747 (ITAT-HYDERABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=38851&Category=ITAT&CategoryType=Zip
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ITAT - Laments non-representation/ inept-representation of matters before it by the Revenue. Suggests guidelines to remedy the state of affairs
DCIT vs. Reliance Communications Infrastructure Ltd
(2015) TaxCorp(LJ) 6746 (ITAT-MUMBAI)
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ITAT - S. 40(a)(ia) second proviso was inserted by FA 2012 to rectify the unintended consequence of disallowance in the hands of the payer even if the payee has paid tax. It is curative and retrospective in operation. Assessee's claim of having obtained declarations u/s 197A from the payees should not be disbelieved without evidence. Assessee is not expected to go into the correctness of the declarations filed by the payees
Ballabh Das Agarwal vs. ITO
(2015) TaxCorp(LJ) 6745 (ITAT-KOLKATA) · Section 40(a)(ia)
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HC - Conversion of outstanding interest into a loan does not amount to an "actual payment" of the interest and so deduction for the interest cannot be claimed under s. 43B Expl 3C
CIT vs. M. M. Aqua Technologies Ltd
(2015) TaxCorp(LJ) 6744 (HC-DELHI) · Section 43B
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HC - Where the agreement between the parties (for sale of shares) indicates that the lump-sum consideration was in respect of two or more promises (i.e. sale of shares & non-compete covenant), it is liable to be bifurcated and apportioned between each of the assets (Vodafone distinguished)
CIT vs. Usha Saboo
(2015) TaxCorp(LJ) 6743 (HC-P&H)
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HC - No sec 43B disallowance in respect of unpaid electricity duty collected by an Electricity supply Company from its customers for deposit with Government
CESC LTD vs C.I.T
(2015) TaxCorp(LJ) 6737 (HC-CALCUTTA) · Section 43B
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HC - Where issue of ownership of seized jewellery was a matter which was pending for final adjudication, jewellery can be released after furnishing bank guarantee.
M.N. Navale (Bigger HUF) v. Somnath M. Wajale, Deputy Commissioner of Income-tax, Central Circle -2 (2), Pune
(2015) TaxCorp(LJ) 6736 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=61188&Category=Judgment&CategoryType=Zip
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ITAT - Where all relevant facts, material to computation of total income is duly furnished by assessee and no deficiencies in furnishing of such facts are pointed out by revenue authorities, declaration of additional income pursuant to survey will not invite concealment penalty.
Vipul Life Sciences Ltd. v. Deputy Commissioner of Income-tax, Circle 7 (3), Mumbai
(2015) TaxCorp(LJ) 6735 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=39783&Category=ITAT&CategoryType=Zip
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HC - Interest on borrowed funds used for booking of a property which was to be used as a show room of company in future years was deductible as assessee had sufficient surplus funds for making payment of interest free security deposit to acquire asset in question.
Commissioner of Income-tax,(C)-III v. DD Industries Ltd.
(2015) TaxCorp(LJ) 6734 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=60717&Category=Judgment&CategoryType=Zip
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HC - Even if case of assessee falls in first proviso to section 2(15), no cancellation of trust's registration on ground.
Director of Income-tax, Exemption, Bangalore v. Kodava Samaja
(2015) TaxCorp(LJ) 6733 (HC-KARNATAKA) · http://taxcorp.in/FileOpenDT.aspx?ID=61187&Category=Judgment&CategoryType=Zip
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ITAT - Sum paid to AE for use of its trademark cannot be disallowed in absence of any evidence on record.
Zuari Cement Ltd. v. Deputy Commissioner of Income-tax, Circle-2 (1), Tirupati
(2015) TaxCorp(LJ) 6732 (ITAT-HYDERABAD) · http://taxcorp.in/FileOpenINTL.aspx?ID=8074&Category=INTLDecisions&CategoryType=Zip
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HC - Where identity and relationship of donor was known, amount received by assessee by way of gift from said donor could not be treated as cash credit u/s 68
Commissioner of Income-tax v. Ramesh Suri
(2015) TaxCorp(LJ) 6731 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=60392&Category=Judgment&CategoryType=Zip
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ITAT - Assessee engaged in merely providing software services was not functionally comparable to a company engaged in research and development activities which included embedded software solutions.
Principal Global Services (P.) Ltd. v. Deputy Commissioner of Income-tax, Circle-1 (2), Pune
(2015) TaxCorp(LJ) 6730 (ITAT-PUNE) · http://taxcorp.in/FileOpenINTL.aspx?ID=8047&Category=INTLDecisions&CategoryType=Zip
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HC - Development of housing projects for DDA is eligible for deduction under section 80-IB
Commissioner of Income-tax-VI v. VRM India Ltd.
(2015) TaxCorp(LJ) 6729 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=60724&Category=Judgment&CategoryType=Zip
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ITAT - Assessee’s stand that under the Income Tax Act, there was no power conferred on Income-tax authorities for conducting survey to verify TDS details is not correct. “Proceedings” u/s 133A also includes TDS proceedings.
Nokia India Pvt Ltd vs.Dy. DIT
(2015) TaxCorp(LJ) 6728 (ITAT-DELHI)
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ITAT - S. 194-I applies only to amounts paid for “use” of the land and not for amounts paid to “acquire” the rights. Distinction between “lease premium” and “rent” explained
ITO vs. Earnest Towers (P) Ltd
(2015) TaxCorp(LJ) 6727 (ITAT-KOLKATA) · Section 194-I
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