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HC - Although section 12 AA(2) states that an order granting or refusing registration (by CIT) 'shall' be passed before expiry of 6 months, no 'deemed' Sec. 12AA registration on 6 months expiry
CIT vs. Muzafar Nagar Development Authority
(2015) TaxCorp(LJ) 5594 (HC-ALLAHABAD) · Section 12AA
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HC - Coercive recovery of 100% demand is set aside.
Panasonic India Pvt. Ltd. vs. CCIT
(2015) TaxCorp(LJ) 5593 (HC-MADRAS)
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HC - Sales by an STP unit to another STP unit, qualifies as ‘export turnover’ for the purposes of Sec 10A
Tata Elxsi Limited vs ACIT
(2015) TaxCorp(LJ) 5592 (HC-KARNATAKA) · Section 10A
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ITAT - In absence of non service of the mandatory notice u/s. 143(2), assessment completed u/s. 143(3) / 147 of the I.T. Act is invalid
Shri Jai Shiv Shankar Traders Pvt. Ltd. Vs. ITO
(2015) TaxCorp(LJ) 5577 (ITAT-DELHI) · Section. 143(2)
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HC - There cannot be a general rule that whenever a refund of income tax paid in excess is to be made, the Revenue must necessarily pay interest on the refunded amount
CIT vs. Engineers India Ltd
(2015) TaxCorp(LJ) 5576 (HC-DELHI)
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ITAT - No Section 40(a)(ia) disallowance for short deductions of tax at source.
ITO vs Sentini Technologies Private Limited
(2015) TaxCorp(LJ) 5574 (ITAT-HYDERABAD) · Section 40(a)(ia)
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ITAT - The requirement of filing of audit report along with the return was not mandatory but directory and that if the audit report was filed at any time before the framing of the assessment, the requirement of section 80-IA(7) would be met
DCIT. vs. M/s Surya Merchants Ltd.
(2015) TaxCorp(LJ) 5566 (ITAT-DELHI)
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ITAT - In appeal before the first appellate authority the assessee explained source of the investments, therefor, No Addition u/s s. 68 as Assessee discharges initial onus casted on him
ITO. vs. Parth Mehrotra
(2015) TaxCorp(LJ) 5565 (ITAT-HYDERABAD) · Section. 68
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ITAT - No specific evidence to show that any agreement was entered into for purchase of property or any advance was paid has been brought on record by assessee, addition for Deemed Dividend confirmed
Sri Sardar Iqbal Singh vs. JCIT
(2015) TaxCorp(LJ) 5564 (ITAT-HYDERABAD)
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ITAT - For xection 10A exemption, approvals given by the Directors of Software Technology Parks of India are valid having the authority of the Inter-ministerial Standing Committee
Mentor Graphics (Noida) P. Ltd. Vs. DCIT
(2015) TaxCorp(LJ) 5563 (ITAT-DELHI) · Section 10A
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HC - Death of Authorised representative not sufficient cause for delay of more than 558 days in Appeal Filing
Madhu Dadha vs. The Assistant Commissioner of Income Tax Officer
(2015) TaxCorp(LJ) 5562 (HC-MADRAS)
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ITAT - CIT was not justified in passing ex parte order without allowing proper opportunity of being heard to the assessee
Smt. Maltidevi Birbal Singh Vs. ITO
(2015) TaxCorp(LJ) 5561 (ITAT-MUMBAI)
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ITAT - AO has proceeded on surmises that assessee was increasing the profits of 80IB(10) units and decreasing the profits of non-80IB units to gain tax advantage. There is no basis whatsoever for this assumption of the AO
The Deputy Commissioner of Income Tax Central Circle-2(2), Bangalore Versus M/s. Sobha Developers
(2015) TaxCorp(LJ) 5555 (ITAT-BANGALORE) · http://taxcorp.in/FileOpenDT.aspx?ID=39757&Category=ITAT&CategoryType=Zip
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ITAT - Assessee’s explanation regarding bona fides of claim did not suffer from any apparent in consistencies or factual errors and it was quite in line with human probabilities and market trends, therefore, there was no good reason to reject the explanation and proceed to initiate and levy of penalty u/s 271(1)(c)
Vipul Life Sciences Ltd. Mumbai Versus The Dy. Commissioner of Income Tax Mumbai
(2015) TaxCorp(LJ) 5554 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=39783&Category=ITAT&CategoryType=Zip
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ITAT - Share premium is an amount which could not be brought to tax by the revenue or independently, it is an item in the capital field, which otherwise would not be taxable u/s 56(1)
M/s Shreepati Infra Realty Ltd Versus The Income Tax Officer-5(3) (2), Aayakar Bhavan, Mumbai -400 020
(2015) TaxCorp(LJ) 5553 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=39784&Category=ITAT&CategoryType=Zip
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ITAT - Payments made by Broadcaster for purchase of Programme from Production-houses is not FTS. Thus, TDS u/s 194C is applicable and not sec. 194J.
DCIT vs. Zee Entertainment Enterprises Ltd.
(2015) TaxCorp(LJ) 5551 (ITAT-MUMBAI) · Section 194C
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HC - Exemption u/s 10(26) is available to a member of a Scheduled Tribe posted or residing in the specified areas even though he may not originally belong to that specified area
Chandra Mohan Sinku and Others vs UOI and Others
(2015) TaxCorp(LJ) 5550 (HC-TRIPURA) · Section 10(26)
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HC - Assessee’s failure to substantiate 6 items of capital expenditure on R&D out of total 9 items leads to sec. 35(2AB) disallowance and penalty u/s 271(1)(c)
Clariant Chemicals (India) Ltd. v. Assistant Commissioner of Income-tax, 1(1)
(2015) TaxCorp(LJ) 5544 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=60514&Category=Judgment&CategoryType=Zip
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ITAT - A software development company cannot be compared with a company mainly engaged in BPO services
International Specialty Products (I) (P.) Ltd. v. Income-tax Officer, Ward-2 (1), Hyderabad
(2015) TaxCorp(LJ) 5543 (ITAT-HYDERABAD) · http://taxcorp.in/FileOpenINTL.aspx?ID=7804&Category=INTLDecisions&CategoryType=Zip
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ITAT - Assessee was only a job worker who was entitled for processing charges based on its cost incurred, In such a situation, comparables chosen by the assessee of the full fledged independent manufacturers could not be considered for the purpose of comparability analysis
Hope India Polishing Works (P.) Ltd. v. Deputy Commissioner of Income-tax 8(2), Mumbai
(2015) TaxCorp(LJ) 5542 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenINTL.aspx?ID=7757&Category=INTLDecisions&CategoryType=Zip
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