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HC - For sec. 32A allowance, date of original purchase contract is relevant and not date of revised one,
Shaily Eng. Plastics (P.) Ltd. v. Deputy Commissioner of Income-tax (Asst.)
(2015) TaxCorp(LJ) 6452 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=61055&Category=Judgment&CategoryType=Zip
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HC - No s. 14A and Rule 8D disallowance can be made for shares held as stock-in-trade
CIT vs. India Advantage Securities Ltd
(2015) TaxCorp(LJ) 6451 (HC-BOMBAY) · Section 14A
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HC - Filing of Form No.15I/J is only directory and not mandatory. Also, only if there is any breach of requirements of Section 194C(3), the question of applicability of Section 40(a)(ia) arises.
CIT. vs. Marikamba Transport Company
(2015) TaxCorp(LJ) 6450 (HC-KARNATAKA) · Sections. 40(a)(ia), 194C(3)
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ITAT - Sales tax benefit is to be taxed as business receipts of the assessee, on which the assessee is not entitled to deduction under section 80IA
M/s. Patankar Wind Farm Pvt. Ltd. Versus The Dy. Commissioner of Income Tax
(2015) TaxCorp(LJ) 6448 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=40515&Category=ITAT&CategoryType=Zip
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ITAT - AO, Agra has not complied with the mandatory requirement of Sec. 127 but suo moto transferred the file from Agra to AO, New Delhi as if he has entered into the shoes of the Chief Commissioner or Commissioner of Income Tax; order passed is invalid and void ab initio
M/s. KIE Infrastructures & Projects Pvt. Ltd. Versus Income Tax Officer
(2015) TaxCorp(LJ) 6447 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=40519&Category=ITAT&CategoryType=Zip
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ITAT - In the case of lab results, the TSPs/ collectors / aggregators are not going to be benefited by the test results and it is the patient who is going to be benefitted by the lab results. AO to examine the fact to ascertain true relationship in respect of payment made to TSPs are commission or brokerage (For TDS u/s 194H)
ITO Versus M/s Thyrocare Technologies Ltd.
(2015) TaxCorp(LJ) 6446 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=40360&Category=ITAT&CategoryType=Zip
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HC - It is mandatory that if the application for renewal of recognition under Section 80G is not disposed of within six months from the date on which the application is made, the Commissioner has no jurisdiction either to pass an order granting the approval or rejecting it
M/s. Maheshwari Foundation Versus The Director of Income-tax (Exemptions), Bangalore
(2015) TaxCorp(LJ) 6445 (HC-KARNATAKA) · http://taxcorp.in/FileOpenDT.aspx?ID=61008&Category=Judgment&CategoryType=Zip
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HC - Assessment u/s 143(3) is void ab initio since the notice under Section 143(2) of the Act was issued beyond the period of limitation
THE COMMISSIONER OF INCOME TAX-II Versus GUJARAT FOILS LIMITED
(2015) TaxCorp(LJ) 6444 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=61024&Category=Judgment&CategoryType=Zip
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ITAT - Compensation paid to clear title of land (to remove impediments or encumbrances) has to be allowed as deduction under head 'cost of improvement'.
Assistant Commissioner of Income-tax, Circle 24 (1), New Delhi v. Pushkar Dutt Sharma
(2015) TaxCorp(LJ) 6442 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=40523&Category=ITAT&CategoryType=Zip
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HC - Professional outstanding fee received by advocate from his client after elevated to post of High Court's Judge would not be taxable u/s 4.
Commissioner of Income-tax v. Anil R. Dave
(2015) TaxCorp(LJ) 6441 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=61049&Category=Judgment&CategoryType=Zip
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ITAT - Deprecation allowable on leasehold land acquired from State Government
NMDC Ltd. v. Joint Commissioner of Income-tax, Range-16, Hyderabad
(2015) TaxCorp(LJ) 6439 (ITAT-HYDERABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=40521&Category=ITAT&CategoryType=Zip
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ITAT - Entrance fee paid for membership of business club ("The Chambers" of Taj Group) is revenue expenditure. When two divergent views are available on the same issue, the view favourable to the assessee has to be followed
Intervalve (India) Ltd. vs. ACIT
(2015) TaxCorp(LJ) 6438 (ITAT-PUNE)
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HC - Depreciation allowable on amount paid by assessee for acquiring 'marketing, customer support, distribution and associate setups' of transferor company as the same is 'Exclusive network right' (goodwill, an intangible asset)
CIT. vs. Bharti Teletech Ltd.
(2015) TaxCorp(LJ) 6437 (HC-DELHI)
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ITAT - Denial of registration u/s 12AA on ground that no activity has been carried out by trust subsequent to its creation and even up to time of disposal of its application is not justified.
Matru Vandana Trust v. Director of Income-tax (Exemption), Mumbai
(2015) TaxCorp(LJ) 6436 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=40513&Category=ITAT&CategoryType=Zip
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ITAT - No relief under Article 8 of Indo-US DTAA to US Airline company on revenue attributable to the usage of third party carriers.
Delta Air Lines vs. ADIT
(2015) TaxCorp(LJ) 6434 (ITAT-MUMBAI)
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SC - Where object clause of the company included holding of the two properties at Madras and earning income from letting of the properties then property rent would be treated as a business income
Chennai Properties & Investments Ltd. vs CIT
(2015) TaxCorp(LJ) 6433 (SC)
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HC - HC chides Revenue for filing appeal as the issues raised therein did not raise any substantial question of law and that issue was covered in assessee’s favour by earlier year’s ITAT order.
CIT. vs. Aventis Pharma
(2015) TaxCorp(LJ) 6432 (HC-BOMBAY)
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HC - The RBI had formulated one Optional Early Retirement Scheme and the amounts paid under this scheme, were eligible for exemption u/s 10(10C).
Commissioner of Income Tax - III, Pune Versus Shri Ramesh Dattatraya Kulkarni, Late Uma Pramod Deshpande, Shri Shirish Madhav Upadhye
(2015) TaxCorp(LJ) 6431 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=61003&Category=Judgment&CategoryType=Zip
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HC - Though termed as goodwill, what was actually parted with by STL was a commercial right, i.e., exclusivity to the network which would not have been otherwise available but for the terms of the arrangement. Depreciation on 'goodwill' allowable.
Commissioner Of Income Tax Versus Mis Bharti Teletech Ltd.
(2015) TaxCorp(LJ) 6430 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=61017&Category=Judgment&CategoryType=Zip
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HC - Presumption u/s 134(4A)/292C is available only in the case of the person from whose possession and control the documents are found and it is not available in respect of a third party and also it is a rebuttable one.
Commissioner Of Income Tax Versus Anil Khandelwal
(2015) TaxCorp(LJ) 6429 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=61018&Category=Judgment&CategoryType=Zip
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