All landmark rulings

1. Direct Tax ·Karnataka High Court · 29 Aug 2014
   HC - Brokerage for public deposits allowable as neither extension of capital nor for issue of shares for increase in share capital

   CIT vs. Karnataka Power Corporation Ltd

   (2014) TaxCorp(LJ) 4549 (HC-KARNATAKA)

2. Direct Tax ·Calcutta High Court · 29 Aug 2014
   HC - License fee paid for availing technology in the nature of irrevocable fee is revenue expenditure

   Timken India Ltd. (formerly Tata Timken Ltd.) vs. CIT

   (2014) TaxCorp(LJ) 4548 (HC-CALCUTTA)

3. Direct Tax ·Bombay High Court · 29 Aug 2014
   HC - Section 80HHC(3) deduction is to be computed after setting off of the unabsorbed investment allowance u/s 32A(3)

   CIT vs V.M. Salgaonkar & Bros (P) Ltd.

   (2014) TaxCorp(LJ) 4547 (HC-BOMBAY) · Section. 80HHC

4. Direct Tax ·AP High Court · 26 Sep 2014
   HC - For Sec 80HHC deduction total income is to be computed before unabsorbed losses and depreciation

   CIT vs Shri Krishna Drugs Ltd.

   (2014) TaxCorp(LJ) 4546 (HC-AP) · Section. 80HHC

5. Direct Tax ·Karnataka High Court · 01 Oct 2014
   HC - If capital assets upgraded goes on changing as time progresses due to competition in the market then product development expense is revenue in nature

   CIT vs. Tejas Networks India (P) Ltd.

   (2014) TaxCorp(LJ) 4545 (HC-KARNATAKA)

6. Direct Tax ·Madras High Court · 01 Oct 2014
   HC - Size of the industry is big and there are large number of workers employed is no reason to deny benefit u/s 80P(2)(a)(ii) if it is a 'cottage industry'

   CIT vs The Chennimalai Industrial WCS Ltd and Ors

   (2014) TaxCorp(LJ) 4544 (HC-MADRAS) · Section. 80P(2)(a)(ii)

7. Direct Tax ·Bombay High Court · 10 Oct 2014
   HC - Interest income arising from surplus funds assessable as business income eligible for sec. 80HHC benefit

   CIT vs. V.S. Dempo & Company Ltd.

   (2014) TaxCorp(LJ) 4543 (HC-BOMBAY) · Section. 80HHC

8. Direct Tax ·ITAT Delhi · 29 Nov 2014
   DRP’s stand that determination of ALP by the TPO is of no relevance in deciding the issue of suppressed sale by the assessee is not correct. Fact that products are sold below MRP does not mean the sales are suppressed

   Tianjin Tianshi Biological Development Company Ltd vs. DCIT

   (2014) TaxCorp(LJ) 4542 (ITAT-DELHI)

9. Direct Tax ·ITAT Chandigarh · 29 Nov 2014
   S. 2(15) Proviso/ 10(23C) (iv): Meaning of expression "not involving the carrying of any activity of profit" explained in detail

   ACIT vs. The Tribune Trust

   (2014) TaxCorp(LJ) 4541 (ITAT-CHANDIGARH) · Section 2(15)

10. Direct Tax ·Bombay High Court · 28 Nov 2014
    S. 244A: Refund of self-assessment tax is entitled to interest

    The Stock Holding Corporation of India vs. CIT

    (2014) TaxCorp(LJ) 4540 (HC-BOMBAY) · Section 244A

11. Direct Tax ·ITAT Bangalore · 29 Nov 2014
    Profits on sale of carbon credits is not a taxable revenue receipt

    Subhash Kabini Power Corporation Ltd vs. CIT

    (2014) TaxCorp(LJ) 4539 (ITAT-BANGALORE)

12. Direct Tax ·ITAT Delhi · 29 Nov 2014
    As per proviso to s. 153C, the date of receiving books of account or documents shall be considered the date of search. Therefore, under proviso to s. 153C and s. 153A(1)(b), in the case of person in whose case action is required u/s 153C, the AO is empowered to take action u/s 153C for the year in which the seized document is received by him and the preceding six years

    R. L. Allied Industries vs. ITO

    (2014) TaxCorp(LJ) 4538 (ITAT-DELHI) · Section 153C

13. Direct Tax ·Bombay High Court · 28 Nov 2014
    S. 255(3): Action of ITAT President in forming Special Bench lacking in propriety

    Jagati Publications Ltd vs. ITAT

    (2014) TaxCorp(LJ) 4537 (HC-BOMBAY) · Section 255(3)

14. Direct Tax ·Bombay High Court · 28 Nov 2014
    S. 80IB(10): Super built-up area cannot be equated with built-up area

    CIT vs. Hermes Developers

    (2014) TaxCorp(LJ) 4536 (HC-BOMBAY) · Section 80IB(10)

15. Direct Tax ·ITAT Hyderabad · 29 Nov 2014
    Consideration for use of software is not assessable as royalty under Article 12 of DTAA and s. 9(1)(vi)

    ADIT vs. Bartronics India Ltd

    (2014) TaxCorp(LJ) 4535 (ITAT-HYDERABAD) · Section 9(1)(vi)

16. Direct Tax ·Supreme Court · 22 Aug 2014
    SC- SLP Dismissed

    Fiitjee Ltd. vs. DGIT(I) & Ors.

    (2014) TaxCorp(LJ) 4534 (SC) · Section. 132

17. Direct Tax ·AP High Court · 19 Nov 2014
    HC explains principle of undue enrichment

    Visakhapatnam Stevedores Association vs Union of India and Others

    (2014) TaxCorp(LJ) 4533 (HC-AP)

18. Direct Tax ·Madras High Court · 19 Nov 2014
    HC - Amount received by Netherlands Company for hiring out dredgers to Indian sister concern for use in India ports not "Royalty"

    CIT vs Van Oord ACZ Equipment BV

    (2014) TaxCorp(LJ) 4532 (HC-MADRAS)

19. Direct Tax ·Kerala High Court · 20 Nov 2014
    HC - Courts, under writ jurisdiction, cannot assume role of an appellate authority to conduct merit review of Settlement Commission's orders

    CIT vs Settlement Commission and Others

    (2014) TaxCorp(LJ) 4531 (HC-KERALA)

20. Direct Tax ·Bombay High Court · 21 Nov 2014
    HC - No specific consideration paid as non-compete amount

    CIT vs. Govindlal C. Mandhana (HUF)

    (2014) TaxCorp(LJ) 4530 (HC-BOMBAY)

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