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HC - Pendency of an appeal filed in the High Court u/s 260A is no bar to the maintainability of a MA filed u/s 254(2)
R. W. Promotions P. Ltd. vs. ITAT
(2015) TaxCorp(LJ) 6296 (HC-BOMBAY) · Sections. 254(2), 260A
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ITAT - Additions made solely on the basis of AIR information are not sustainable in the eyes of law if the Revenue has not made any enquires to find out whether the AIR information was correct or not
Kroner Investments Limited vs. DCIT
(2015) TaxCorp(LJ) 6294 (ITAT-MUMBAI)
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ITAT - No malafide intention of concealment as furnishing of inaccurate particulars was simply a mistake as also there was no 'detection' by Revenue, concealment penalty on income addition on share application money is deleted.
Heranba Industries Ltd. vs. DCIT
(2015) TaxCorp(LJ) 6287 (ITAT-MUMBAI)
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ITAT - Assessee-firm’s petition u/s 154 only prolonging the litigation in the guise of Rectification Applications in a different front and trying to unsettle the settled matters. One of firm's partner attempting to re-contest had already concluded block-assessment on firm.
Ahura Holdings vs ACIT
(2015) TaxCorp(LJ) 6286 (ITAT-HYDERABAD)
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HC - Assessee eligible for Sec 80I benefit as none of the conditions stipulated therein prohibits assessee from taking industrial undertaking on hire and using it for manufacturing activity
Vijay Udhyog vs. CIT
(2015) TaxCorp(LJ) 6285 (HC-BOMBAY) · Section. 80I
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HC - Section 14A to be strictly construed and AO to record satisfaction on the basis of clear and cogent material. No section 14A disallowance on the basis of general observations.
CIT vs. Abhishek Industries Ltd
(2015) TaxCorp(LJ) 6284 (HC-P&H) · Section. 14A
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HC - Lumpsum payment for procurement of technical know-how for use in the course of business is revenue in nature and deductible u/s 37.
Diffusion Engineers Ltd vs. DCIT
(2015) TaxCorp(LJ) 6283 (HC-KARNATAKA) · Section. 37, 35AB
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HC - FBT not payable by assessee for subscription payment to Tata Sons pursuant to contractual agreement of ‘‘Brand Equity and Business Promotion Agreement” to associate itself with the TATA name absent employer-employee relationship between the parties
CIT. vs. Tata Consultancy Services Ltd.
(2015) TaxCorp(LJ) 6282 (HC-BOMBAY)
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ITAT - Section 32(1)(ii) deduction was to be allowed on intangible assets such as customer base, list of material suppliers, process know-how, technical manpower for purpose of its two wheeler braking business, on acquisition of business by assessee.
Brembo Brake India (P.) Ltd. v. Deputy Commissioner of Income-tax, Circle-1 (1), Pune
(2015) TaxCorp(LJ) 6281 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=39923&Category=ITAT&CategoryType=Zip
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HC - Whether or not advertisement or brand building expenditure should have been incurred for agarbatti and incense sticks was prerogative and right of assessee and AO could not question and challenge same. Disallowance u/s 37(1) not justified.
Commissioner of Income-tax Delhi (Central) III v. Hari Chand Shri Gopal
(2015) TaxCorp(LJ) 6280 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=58650&Category=Judgment&CategoryType=Zip
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HC - Power of stay governed by clause (c) of section 220 is a discretionary one.
Jyothy Laboratories Ltd. v. Deputy Commissioner of Income-tax, Large Tax Payer Unit-II, Chennai
(2015) TaxCorp(LJ) 6278 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=60580&Category=Judgment&CategoryType=Zip
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ITAT - Relief which is otherwise due to the assessee should not be denied just because he had inadvertently made claim under wrong provision. Section 54 exemption available even though made u/s 54D.
Income-tax Officer, Ward- 1 (3), Nashik v. Anirudha Ashok Jajoo
(2015) TaxCorp(LJ) 6277 (ITAT-PUNE) · http://taxcorp.in/FileOpenDT.aspx?ID=40426&Category=ITAT&CategoryType=Zip
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ITAT - Registration under section 12AA cannot be denied to an educational institution, merely because it is otherwise eligible for exemption under section 10(23C)
R.K. Educational Society v. Commissioner of Income-tax (V)
(2015) TaxCorp(LJ) 6276 (ITAT-VISAKHAPATNAM) · http://taxcorp.in/FileOpenDT.aspx?ID=40424&Category=ITAT&CategoryType=Zip
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HC - Retraction made by assessee regarding unaccounted investment during survey, after 2 years and just before finalization of assessment was not acceptable and addition as undisclosed investment was to be upheld
Navdeep Dhingra v. Commissioner of Income-tax,Karnal
(2015) TaxCorp(LJ) 6275 (HC-P&H) · http://taxcorp.in/FileOpenDT.aspx?ID=60404&Category=Judgment&CategoryType=Zip
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HC - No condonation of delay of over 1100 days in filing appeal considering assessee’s laziness, lackadaisical in approach and in a non-chalant manner.
Mrs. P.S. Rajeswari v. Assistant Commissioner of Income-tax, Central Circle- IV(2), Chennai
(2015) TaxCorp(LJ) 6274 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=59240&Category=Judgment&CategoryType=Zip
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HC - No Section 43B disallowance for unpaid service tax. Section 43B does not contemplate liability to pay the service tax before actual receipt of the funds in the account of the assessee.
CIT. vs. Ovira Logistics Pvt. Ltd.
(2015) TaxCorp(LJ) 6273 (HC-BOMBAY)
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HC - Assessee outsourced only part of manufacturing activities, that too under direct control and supervision of its managerial/technical staff. Section 10B benefit to assessee (a 100% EOU) engaged in manufacturing of 'Helmet and Jackets' is allowable.
Mku (Armours) Pvt Ltd vs CIT
(2015) TaxCorp(LJ) 6272 (HC-ALLAHABAD) · Section. 10B
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ITAT - Base erosion and profit shifting (BEPS) is a tax policy consideration which is relevant for law making process. There is no role for BEPS in judicial process
ADIT. Vs. Baker Hughes Singapore Pte Ltd.
(2015) TaxCorp(LJ) 6271 (ITAT-DELHI)
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ITAT - Where non-resident does not have any permanent establishment, legal & professional fees received not taxable in India. No TDS liability u/s 195
Kirloskar Proprietary Ltd. Versus The Deputy Commissioner of Income Tax, Circle-11(1), Pune
(2015) TaxCorp(LJ) 6264 (ITAT-PUNE) · http://taxcorp.in/FileOpenINTL.aspx?ID=7803&Category=INTLDecisions&CategoryType=Zip
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HC - EOU outsourcing its manufacturing activity after carrying out detailed engineering drawing qualified as 'manufacture' or 'production' of goods; entitled to section 10B relief.
Commissioner of Income-tax- I v. AAR ESS Exim (P.) Ltd.
(2015) TaxCorp(LJ) 6258 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=60366&Category=Judgment&CategoryType=Zip
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