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21,722 rulings

Desk: Both Direct Tax GST

Direct Tax ·ITAT Delhi · 24 Sep 2014
ITAT - Matter should be remanded where in earlier year on similar fact situation, Tribunal had directed for fresh TP adjudication
VA Tech Escher Wyss Flovel (P.) Ltd. v. Deputy Commissioner of Income-tax, Circle-1, Faridabad
(2014) TaxCorp(LJ) 4760 (ITAT-DELHI) · http://taxcorp.in/FileOpenINTL.aspx?ID=7510&Category=INTLDecisions&CategoryType=Zip
Direct Tax ·ITAT Delhi · 08 Dec 2014
ITAT - When we consider more than one separate transaction under the combined umbrella of TNMM on an entity level, it is quite possible that a probable addition on account of transfer pricing adjustment arising from one international transaction may be usurped by the income from the other international transaction giving higher income on transacted value
LG Electronics India (P.) Ltd. v. Assistant Commissioner of Income-tax, Circle-3, Noida
(2014) TaxCorp(LJ) 4759 (ITAT-DELHI) · http://taxcorp.in/FileOpenINTL.aspx?ID=7642&Category=INTLDecisions&CategoryType=Zip
Direct Tax ·ITAT Pune · 28 Aug 2014
ITAT - Where assessee company granted loan to its AE located abroad, domestic bank rate was not a sound basis and in such a case, internationally accepted rate of LIBOR was to be adopted as benchmark in order to compute arm's length price of interest rate in respect of impugned transactions
Tooltech Global Engineering (P.) Ltd. v. Deputy Commissioner of Income-tax, Circle-7, Pune
(2014) TaxCorp(LJ) 4758 (ITAT-PUNE) · http://taxcorp.in/FileOpenINTL.aspx?ID=7641&Category=INTLDecisions&CategoryType=Zip
Direct Tax ·ITAT Jaipur · 30 Sep 2014
ITAT - Government authorityset up for providing housing, community facilities, civil amenities and other infrastructural facilities, were charitable in nature; not hit by proviso to section 2(15)
Jaipur Development Authority v. Commissioner of Income-tax -II, Jaipur
(2014) TaxCorp(LJ) 4757 (ITAT-JAIPUR) · http://taxcorp.in/FileOpenDT.aspx?ID=38259&Category=ITAT&CategoryType=Zip
Direct Tax ·Delhi High Court · 02 Sep 2014
HC - Consideration received on surrender of tenancy right after 14 years to be treated as long-term capital gain
Commissioner of Income-tax v. Frick India Ltd.
(2014) TaxCorp(LJ) 4756 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=58074&Category=Judgment&CategoryType=Zip
Direct Tax ·ITAT Pune · 10 Dec 2014
ITAT - On the basis of protocol to India-Sweden DTAA, a Swedish Company can claim the benefit of 'make available' condition in Indo-Portugal treaty to claim tax-free status for FTS received from its Indian Subsidiaries
Sandvik AB v. Deputy Director of Income-tax, (International Taxation)-II, Pune
(2014) TaxCorp(LJ) 4755 (ITAT-PUNE) · http://taxcorp.in/FileOpenINTL.aspx?ID=7640&Category=INTLDecisions&CategoryType=Zip
Direct Tax ·Supreme Court · 14 Nov 2014
SC - Tribunal could not have dismissed the appeal filed by the appellant for want of prosecution and it ought to have decided the appeal on merits even if the appellant or its counsel was not present when the appeal was taken up for hearing
Balaji Steel Re-Rolling Mills Vs. Commissioner Of Central Excise And Customs
(2014) TaxCorp(LJ) 4754 (SC)
Direct Tax ·Bombay High Court · 03 Sep 2013
HC - No Municipal / BMC Permission Required For use of Part of Premises for Professional Practice
The Municipal Corporation for Greater Mumbai V/s. Dr. (Mrs.) Rekha S. Naik & Anr.
(2014) TaxCorp(LJ) 4753 (HC-BOMBAY)
Direct Tax ·AP High Court · 10 Dec 2014
HC - For concealment penalty u/s 271(l)(c), nature of satisfaction of AO need not be in writing, though the factum of satisfaction must be in writing in assessment order
CIT vs Lotus Constructions
(2014) TaxCorp(LJ) 4752 (HC-AP)
Direct Tax ·Madras High Court · 05 Dec 2014
HC - When the assessee has hired trucks on payment of hire charges for utilizing the same in its business, such payment of hire charges would not fall within the provisions of Section 194C of the Act.
CIT vs. U.Bhaskaran
(2014) TaxCorp(LJ) 4751 (HC-MADRAS)
Direct Tax ·Delhi High Court · 05 Dec 2014
HC - The word/expression "provision" by itself and alone without other information/material, would not reflect and indicate unascertained liability. Thus, mere surmise or suspicion cannot be a ground to reopen assessment
CIT vs Valvoline Cummins Ltd.
(2014) TaxCorp(LJ) 4750 (HC-DELHI)
Direct Tax ·ITAT Pune · 09 Dec 2014
ITAT - Since premium was paid on share buy-back from two shareholder groups to protect assessee's business, the same is held to be revenue in nature
DCIT vs. Bramha Corp. Hotels & Resorts Ltd
(2014) TaxCorp(LJ) 4749 (ITAT-PUNE)
Direct Tax ·ITAT Mumbai · 05 Dec 2014
ITAT - Since development of property was not started in AY 2001-02 and substantial payments was received only in AY 2005, capital gains was taxable only in AY 2005-06. The transfer of property did not take place on the date of execution of development agreement
Dilip Anand Vazirani vs. ITO
(2014) TaxCorp(LJ) 4748 (ITAT-MUMBAI)
Direct Tax ·ITAT Pune · 09 Dec 2014
ITAT - Swedish-company could claim Fee for Technical Services ('FTS') received from its Indian subsidiaries as tax-exempt if 'make available' condition was not satisfied, as India-Sweden DTAA contained Most Favoured Nation clause ('MFN' clause) as per which make available clause in India-Portugese could be imported into the India-Sweden DTAA
Sandvik AB vs DIT
(2014) TaxCorp(LJ) 4747 (ITAT-PUNE)
Direct Tax ·ITAT Mumbai · 08 Dec 2014
ITAT - Sec 54F exemption available to assessee for investing capital gains in acquiring 'under construction residential house and will qualify for stipulated period of 3 years (meant for construction of new house)
Jyoti Arun Kothari vs ITO
(2014) TaxCorp(LJ) 4746 (ITAT-MUMBAI) · Section 54F
Direct Tax ·ITAT Lucknow · 08 Dec 2014
ITAT - Deeming fiction created by virtue of section 50C in determining capital gain cannot be extended to section 11(1 A) and Section 11(1A) has to be applied for definite or limited purpose for which it is created. Sec 11(1A), being specific section governing taxability of capital gains for trusts and a complete code in itself, shall prevail over Sec 50C
ACIT. Vs. The Upper India Chamber of Commerce
(2014) TaxCorp(LJ) 4745 (ITAT-LUCKNOW) · Section. 50C, 11
Direct Tax ·ITAT Bangalore · 31 Dec 2014
ITAT - AO should verify whether actual services rendered by overseas affiliates through seconded employees to Indian assessee were technical services u/s 9(l)(vii)
Cisco Systems Services B.E. vs. ADIT
(2014) TaxCorp(LJ) 4744 (ITAT-BANGALORE)
Direct Tax ·ITAT Bangalore · 31 Oct 2014
ITAT - For the purpose of Rule 3, (perquisite valuation), assesee falls in the category of 'others', and not of 'government department', as it is an autonomous body and merely received certain grant-in-aid from Government
Central Food Technological Research Institute vs ITO
(2014) TaxCorp(LJ) 4743 (ITAT-BANGALORE)
Direct Tax ·Delhi High Court · 08 Dec 2014
A statutory order, even if a nullity, continues to be effective unless set aside by a competent authority. Such orders cannot be nullified by an administrative order
R. K. Jain vs. Chairman, Settlement Commission
(2014) TaxCorp(LJ) 4742 (HC-DELHI)
Direct Tax ·ITAT Mumbai · 08 Dec 2014
S. 194-I: Lease premium and additional Floor Space Index (FSI) charges paid to MMRDA is not "rent" for TDS
ACIT vs. Oil and Natural Gas Corporation Ltd
(2014) TaxCorp(LJ) 4741 (ITAT-MUMBAI) · Section 194-I

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