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HC - In case of doubt or ambiguity question of rectification u/s 154 does not arise.
CIT. vs. Palanquin Investments P Ltd.
(2015) TaxCorp(LJ) 5285 (HC-MADRAS) · Section. 154, 94(8)
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ITAT - Section 54F benefit is not available on investment made in a Coffee estate, as entire coffee estate was not meant for residence as "residence" means a dwelling place. Exemption only to value of investment relating to the Bungalow and land appurtenant thereto on the coffee estate.
A. G. Hoover vs ACIT
(2015) TaxCorp(LJ) 5284 (ITAT-BANGALORE) · Section. 54F
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HC - Section 80IB(10) benefit admissible as “built-up area” includes car park for AY 2004-05.
CIT. vs. Subba Reddy
(2015) TaxCorp(LJ) 5283 (HC-MADRAS)
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ITAT - Since assessee has not raised any objection on the notice u/s.143(2) before AO therefore S.292BB is clearly applicable. It can be invalid only if challenged before AO.
L&T Infocity Limited vs. DCIT
(2015) TaxCorp(LJ) 5282 (ITAT-HYDERABAD) · Section. 143(2)
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SC - Directions of Bombay High Court imposing cost of Rs. 1 lac on Income tax Department for 'frivolous' appeal set aside
Commissioner Of Income Tax Vs. S Larsen And Tourbo Ltd.
(2015) TaxCorp(LJ) 5281 (SC)
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ITAT - Expenditure incurred by a company in connection with issue of share with a view to increase its share capital, is directly related to the expansion of the capital base of the company, and is capital expenditure, even though it may incidentally help in the business of the company and in the profit making
ACIT, Central Circle-13, New Delhi Versus M/s. Russian Technology Centre Pvt. Ltd.
(2015) TaxCorp(LJ) 5273 (ITAT-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=39446&Category=ITAT&CategoryType=Zip
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ITAT - Revision u/s 263 - Only because the TPO in AY 2007-08 takes a different view, by that reason alone, assessment order cannot be considered to be erroneous and prejudicial to the interests of revenue
Astrix Laboratories Ltd. Versus Asst. Commissioner of Income tax
(2015) TaxCorp(LJ) 5272 (ITAT-HYDERABAD) · http://taxcorp.in/FileOpenINTL.aspx?ID=7822&Category=INTLDecisions&CategoryType=Zip
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ITAT - Proportionate disallowance of foreign travelling expenses as assessee had not furnished details of expenses of wife and children.
ACIT (OSD), Circle -5, Ahmedabad Versus Parikh Enterprises Pvt Ltd.
(2015) TaxCorp(LJ) 5271 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=39456&Category=ITAT&CategoryType=Zip
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ITAT - Order u/s.263 is upheld for a limited purpose that the claim of deduction u/s.10B was allowed by AO without proper investigation. But simultaneously Commissioner has exceeded the jurisdiction by unilaterally directing the AO to pass a fresh order by disallowing the claim u/s.10B
Shri Tarun V. Shah, Prop. MP Advisors Versus Commissioner of Income Tax-I, Baroda
(2015) TaxCorp(LJ) 5270 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=39457&Category=ITAT&CategoryType=Zip
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HC - Writ quashed challenging blacklisting of Cyprus as notified jurisdiction area u/s 94A of Income Tax Act.
Expro Gulf Limited Vs Union Of India
(2015) TaxCorp(LJ) 5256 (HC-UTTARAKHAND)
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HC - Sec 220(2) interest be levied from date commencing after end of 30 days period u/s 220(1) and return filing-date u/s 139.
C. Aswathnarayana vs. TRO
(2015) TaxCorp(LJ) 5255 (HC-KARNATAKA) · Section. 220(2)
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HC - tax planning by adopting colourable device, hence amounts received by Assessee foreign company from various Indian hotels as reimbursements for undertaking international advertisement and marketing programs are 'Royalty'.
Marriot International Inc. Vs. Dy. Director of Income Tax (International Taxation)–4(1)
(2015) TaxCorp(LJ) 5254 (ITAT-MUMBAI)
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HC - Loss on sale of shares in subsidiary is allowed as business loss on commercial expediency principles
CIT. Vs. Colgate Palmolive (India) Ltd.
(2015) TaxCorp(LJ) 5244 (HC-BOMBAY)
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HC - Sale consideration for transfer of shares was artificially and deceitfully bifurcated under a sham agreement which was unreal.
CIT. Vs. Shiv Raj Gupta
(2015) TaxCorp(LJ) 5243 (HC-DELHI)
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ITAT - Business had commenced at the stage when licence to explore the respective blocks was granted by the Govt. of India to assessee company. Deduction for depreciation and other operational expenses allowed.
DCIT. Vs. Jubilant Offshore Drilling Pvt. Ltd.
(2015) TaxCorp(LJ) 5242 (ITAT-DELHI)
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HC - Cash payments made to agents in connection with land purchase, No Sec 40A(3) addition in light of Rule 6DD(k).
CIT. Vs. Abhinandana Housing Pvt. Ltd.
(2015) TaxCorp(LJ) 5241 (HC-AP) · Section. 40A(3)
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ITAT - Assessee cannot be said to have obtained benefit u/s 41(1) when creditors had unilaterally written off balance. No concealment penalty
ITO. Vs. Navpad Textile Indutries Limited
(2015) TaxCorp(LJ) 5239 (ITAT-AHMEDABAD) · Section 41(1)
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HC - "stake money" paid by race clubs to horse owners not liable for TDS u/s 194B
Bangalore Turf Club Limited vs Union of India & others
(2015) TaxCorp(LJ) 5236 (HC-KARNATAKA)
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ITAT - Payment made by assessee to for printing logo of assessee on boarding card, ticket, baggage tag etc amounts to "advertisement", as such, liable to TDS u/s 194C.
DCIT. Vs Sahara India Commercial Corporation Ltd.
(2015) TaxCorp(LJ) 5235 (ITAT-LUCKNOW) · Section. 194C
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ITAT - No sec 40(a)(ia) disallowance for AY 2006-07 as TDS was deposited before due-date u/s 139(1) even though deposited beyond prescribed TDS deposit time limit.
ACIT. Vs Indo Asia Energy Private Limited
(2015) TaxCorp(LJ) 5234 (ITAT-CHENNAI) · Section 40(a)(ia)
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