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ITAT - Even though the assessed filed the revised return of income after the receipt of notice u/s 143(2), yet the the assessing officer did not seek any type of particulars in that notice hence revised ROI amounts to voluntary disclosure.
Prema Gopal Rao vs. DCIT
(2015) TaxCorp(LJ) 5378 (ITAT-MUMBAI) · Section 271(1)(c)
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ITAT - Since there is no mention of the approval sought from the CIT on the reasons, as recorded by the AO to initiate reassessment proceedings, the entire initiation has been vitiated and become bad in law.
GTL Limited vs. ACIT
(2015) TaxCorp(LJ) 5377 (ITAT-MUMBAI) · Sections 147, 151
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ITAT - Non-eligible unit’s loss is not entitled to set-off against Section 10A profits.
Mindteck India Ltd vs. ITO
(2015) TaxCorp(LJ) 5376 (ITAT-BANGALORE) · Section. 10A
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HC - Dept is not entitled to challenge the ITAT's decision to determine the interest rate ALP of funds advanced to AE as per Euribor if the earlier ITAT judgements relied upon by ITAT have not been challenged by the Dept
CIT vs. Tata Autocomp Systems Ltd
(2015) TaxCorp(LJ) 5375 (HC-BOMBAY)
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HC - Returns filed electronically within due-date prescribed u/s 139(1) are valid returns, even though ITR-V were filed belatedly.
CIT. vs. Borkar Packaging Pvt Ltd.
(2015) TaxCorp(LJ) 5374 (HC-BOMBAY)
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ITAT - Investment in purchase or construction of ‘a residential house’ and not ‘new residential house’ is required for the purpose of exemption u/s 54
DCIT vs. Sri Vidyasagar Dontineni
(2015) TaxCorp(LJ) 5373 (ITAT-HYDERABAD) · Section. 54
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HC - Deduction u/s 80I is available on the gross income without reducing Sec 80HH deduction
Commissioner Of Income Tax Del-Iii Vs. Unipatch Rubber Ltd.
(2015) TaxCorp(LJ) 5372 (HC-DELHI) · Section. 80HH
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HC - Unless Revenue sets out reasons either in appeal memo or on affidavit as to why the ratio of earlier orders inapplicable, appeal will not be entertained.
CIT. vs. Smt. Veena Gope Shroff
(2015) TaxCorp(LJ) 5371 (HC-BOMBAY)
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HC - Unaccounted Sales - It is not the entire sales consideration which is to be brought to tax but only the profit attributable on the total unrecorded sales consideration which alone can be subject to income tax
CIT. Vs. Hariram Bhambhani
(2015) TaxCorp(LJ) 5369 (HC-BOMBAY)
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HC - Revision u/s 263 - If a query is raised during assessment proceedings and responded to by the assessee, the mere fact that it is not dealt with in the assessment Order would not lead to a conclusion that no mind had been applied to it
CIT. Vs. Fine Jewellery (India) Ltd.
(2015) TaxCorp(LJ) 5368 (HC-BOMBAY) · Saction. 263
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HC - Uniformity in treatment is the basis premise of rule of law. The Dept cannot arbitrarily pick and choose which orders of the ITAT should be challenged in the High Court. If ITAT has followed an order which is not challenged by the Dept then an affidavit must be filed explaining the distinguishing features which warrants the different view
CIT. Vs. State Bank Of India
(2015) TaxCorp(LJ) 5367 (HC-BOMBAY)
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ITAT - When registration under section 12A was not available with the assessee for the impugned assessment year, benefit of exemption under section 11 cannot be given to the assessee
Awadh Public School Academy Versus Income Tax Officer
(2015) TaxCorp(LJ) 5364 (ITAT-LUCKNOW) · http://taxcorp.in/FileOpenDT.aspx?ID=39678&Category=ITAT&CategoryType=Zip
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ITAT - The activities are meant for general public utility, i.e. whoever wants to advance his/her qualifications in the banking industry and eligible for deduction u/s 11
The Indian Institute of Banking & Finance Versus DDIT(Exemption) - Range II(1), Mumbai
(2015) TaxCorp(LJ) 5363 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=39680&Category=ITAT&CategoryType=Zip
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ITAT - Since the society is eligible for exemption u/s 11 and 12 of the Act, the necessary corollary is that treatment of heads of income become irrelevant.
Help, C/o Vinod Kumar Bindal And Co. Versus ADIT (E), Trust Circle-Ii, New Delhi
(2015) TaxCorp(LJ) 5362 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=39681&Category=ITAT&CategoryType=Zip
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ITAT - A flat which is newly constructed by a builder on behalf of the assessee is in no way different from a house constructed. Section 54F being a beneficial provision has to be interpreted so as to give the benefit of residential unit viz., flat instead of house
Sri Pradeep Kumar Chowdhry, Hyderabad Versus The Deputy CIT Circle-1(1) Hyderabad
(2015) TaxCorp(LJ) 5361 (ITAT-HYDERABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=39682&Category=ITAT&CategoryType=Zip
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ITAT - Capacity Sales Agreement not taxable as royalties u/s 9(1)(vi)
M/s. Flag Telecom Group Limited Versus DCIT Cir-2(1) and Asst. DIT (IT) -1(1) Mumbia
(2015) TaxCorp(LJ) 5360 (ITAT-MUMBAI) · http://taxcorp.in/FileOpenDT.aspx?ID=39646&Category=ITAT&CategoryType=Zip
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HC - Doctors drawing variable pay with or without contract and doctors drawing fixed plus variable pay; TDS applicable u/s 194J and not u/s 192
The Commissioner of Income Tax (TDS), Pune Versus Grant Medical Foundation (RUBY Hall Clinic)
(2015) TaxCorp(LJ) 5359 (HC-BOMBAY) · http://taxcorp.in/FileOpenDT.aspx?ID=60380&Category=Judgment&CategoryType=Zip
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HC - Royalty u/s 9(1)(vi) - Lump-sum payments are covered under the term ‘royalty’. The agreement postulated grant of permission to use or right to use intellectual property rights or know how and it is not a case of outright sale
HCL LIMITED Versus THE COMMISSIONER OF INCOME TAX NEW DELHI
(2015) TaxCorp(LJ) 5358 (HC-DELHI) · http://taxcorp.in/FileOpenINTL.aspx?ID=7865&Category=INTLDecisions&CategoryType=Zip
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ITAT - Flat purchased by the assessee in the name of his wife out of the sale consideration of flat in the name of the assessee should be considered as allowable deduction u/s.54(2)
Shirish Vinayak Godbole Vs. ITO
(2015) TaxCorp(LJ) 5353 (ITAT-PUNE) · Section 54
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HC - The contribution made by the respective persons was treated as a loan and the explanation that they were to be made partners later was not accepted. Thus, penalty Imposable on cash loan from person other than partners
M/s. Soundarya Textiles Vs. The Assistant Commissioner Of Income Tax
(2015) TaxCorp(LJ) 5352 (HC-KERALA)
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