All landmark rulings

1. Direct Tax ·AP High Court · 21 Nov 2014
   HC - Levy of penalty cannot be resorted to as a matter of course

   D. Rama Rao vs ACIT

   (2014) TaxCorp(LJ) 4529 (HC-AP)

2. Direct Tax ·AP High Court · 21 Nov 2014
   HC - Order u/s 158BC based on assessee's retracted statement recorded after search proceedings u/s 132 is quashed

   CIT vs. Naresh Kumar Agarwal

   (2014) TaxCorp(LJ) 4528 (HC-AP) · Section. 158BC

3. Direct Tax ·Delhi High Court · 21 Nov 2014
   HC - Sec 11(5) not violated when CBDT specifically grants exemption

   DIT(E). vs. Indo French Centre

   (2014) TaxCorp(LJ) 4527 (HC-DELHI) · Section. 11(5), 1 l(l)(c)

4. Direct Tax ·Bombay High Court · 21 Nov 2014
   HC - Once interest income on loan for earlier years taxed as income from other sources, loan waiver can't be "business income"

   CIT vs Digiwave Infrastructure & Services Limited

   (2014) TaxCorp(LJ) 4526 (HC-BOMBAY) · Section. 28(iv)

5. Direct Tax ·Supreme Court · 26 Nov 2014
   Pursuing law & practicing law are two different things –SC

   Archana Girish Sabnis vs Bar Council Of India & Ors.

   (2014) TaxCorp(LJ) 4525 (SC)

6. Direct Tax ·ITAT Mumbai · 11 Nov 2014
   ITAT - Deposit made by individual taxpayer in Trust's bank account wherein assessee was a sole beneficiary represents unaccounted income

   Mohan Manoj Dhupelia and Ors vs. DCIT

   (2014) TaxCorp(LJ) 4524 (ITAT-MUMBAI)

7. Direct Tax ·ITAT Hyderabad · 13 Nov 2014
   ITAT - Pre-clinical research payments are in the nature of FTS

   Dr Reddy’s Research Foundation vs. DCIT

   (2014) TaxCorp(LJ) 4523 (ITAT-HYDERABAD)

8. Direct Tax ·ITAT Mumbai · 13 Nov 2014
   ITAT - Payment to Swiss Co. for installation / commissioning of complex 'mail room equipment', not taxable in India as not FTS

   Bennet Coleman & Co. Ltd. vs. ITO

   (2014) TaxCorp(LJ) 4522 (ITAT-MUMBAI) · Section. 9(l)(vii)

9. Direct Tax ·ITAT Bangalore · 14 Nov 2014
   ITAT - Sec 35(2AB) deduction available for expenditure incurred on in-house scientific research

   Resil Chemicals Pvt. Ltd vs. DCIT

   (2014) TaxCorp(LJ) 4521 (ITAT-BANGALORE) · Section. 35(2AB)

10. Direct Tax ·ITAT Pune · 14 Nov 2014
    ITAT - Payment for acquisition of Plant know-how for erection of plant and machinery, not 'royalty', and not taxable in India

    Finoram Sheets Ltd. vs. ITO

    (2014) TaxCorp(LJ) 4520 (ITAT-PUNE)

11. Direct Tax ·ITAT Hyderabad · 14 Nov 2014
    ITAT - Assessee entitled to deduction on expenditure of capital nature when used for scientific research relating to assessee's business

    DCIT vs. AVRA Laboratories P. Ltd.

    (2014) TaxCorp(LJ) 4519 (ITAT-HYDERABAD)

12. Direct Tax ·ITAT Bangalore · 18 Nov 2014
    ITAT - 'Voluntary surrender' by land owners in lieu of development rights not 'compulsory acquisition', Sec 194LA not applicable

    Chief Accounts Officer, Bruhat Bangalore Mahanagar Palike vs ITO

    (2014) TaxCorp(LJ) 4518 (ITAT-BANGALORE) · Section. 194LA

13. Direct Tax ·ITAT Mumbai · 21 Nov 2014
    ITAT - AS-7 can be followed even though not notified u/s 145

    International Metro Civil Contractors vs ACIT

    (2014) TaxCorp(LJ) 4517 (ITAT-MUMBAI) · Section. 145

14. Direct Tax ·ITAT Ahmedabad · 21 Nov 2014
    ITAT - For Capital Gains transfer of property takes place when consideration was paid and possession was handed over and not registration

    Amitkumar Ambalal Shah vs ITO

    (2014) TaxCorp(LJ) 4516 (ITAT-AHMEDABAD)

15. Direct Tax ·ITAT Delhi · 24 Nov 2014
    When Govt agency's 'other income' partakes character of grant which is not taxable, 'other income' as will also be non-revenue in nature

    Inland Waterways Authority of India vs. Addl CIT

    (2014) TaxCorp(LJ) 4515 (ITAT-DELHI)

16. Direct Tax ·Delhi High Court · 24 Nov 2014
    HC - No TDS u/s 194H on 'fees' charged by bank for rendering banking services as the same not 'commission'

    CIT vs JDS Apparels Private Limited

    (2014) TaxCorp(LJ) 4514 (HC-DELHI)

17. Direct Tax ·ITAT Chennai · 24 Nov 2014
    ITAT - For initiating re-assessment proceedings, the source of information is not relevant. It is the information and its authenticity that matters

    Justice P.D.Dinakaran vs DCIT

    (2014) TaxCorp(LJ) 4513 (ITAT-CHENNAI)

18. Direct Tax ·Supreme Court · 25 Nov 2014
    SC - SLP Dismissed - No straight jacket formula to decide the nature of share sale purchase transaction

    CIT vs. Devasan Investment Pvt Ltd

    (2014) TaxCorp(LJ) 4512 (SC)

19. Direct Tax ·Bombay High Court · 27 Nov 2014
    S. 271(1)(c): Before proceeding to the Explanation below s. 271 and putting the responsibility on the assessee, it is necessary for the AO to first demonstrate that the assessee's explanation or conduct is not reasonable on human probabilities, or that it was in the nature of violating settled legal positions. If the explanation is not fanciful, baseless or unacceptable, penalty cannot be levied

    CIT. Vs. Rucha Engineers Pvt. Ltd.

    (2014) TaxCorp(LJ) 4511 (HC-BOMBAY) · Section. 271(1)(c), 271

20. Direct Tax ·Madras High Court · 27 Nov 2014
    S. 158BD: Issue of notice u/s 158BD to the non-searched party has to be within the within the two years period given to the AO for completion of block assessment u/s 158BE(1)

    CIT. Vs. V. D. Muralidharan

    (2014) TaxCorp(LJ) 4510 (HC-MADRAS) · Section. 158BD, 158BE(1)

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