All landmark rulings

21,722 rulings

Desk: Both Direct Tax GST

Direct Tax ·Gujarat High Court · 17 Nov 2014
S. 28/ 37(1): Even if the business is illegal, a loss which is incidental to such business has to be allowed u/s 28 and the Explanation to s. 37(1) has no bearing
Bipinchandra K. Bhatia vs. DCIT
(2014) TaxCorp(LJ) 4328 (HC-GUJARAT) · Sections. 28, 37(1)
Direct Tax ·ITAT Mumbai · 17 Nov 2014
S. 9(1)(vii): Separate agreements for supply & installation cannot be regarded as one composite contract. However, as the installation is an "assembly" project, it will not constitute "fees for technical services". Even if such services are FTS u/s 9(1)(vii) they are excluded from taxation in India by Article 14 of the India-Swiss DTAA as the recipient has no PE in India
ITO. vs. Bennet Coleman & Co. Ltd.
(2014) TaxCorp(LJ) 4327 (ITAT-MUMBAI) · Section. 9(1)(vii),
Direct Tax ·AP High Court · 14 Nov 2014
An ITO cannot carry out the functions of an authority under the Central Excise Act and arrogate to himself the power to determine the quantity of production, or the intricacies of the manufacturing process. He must seek assistance of the concerned authority
CIT. vs. Shri Girija Smelters (P) Ltd.
(2014) TaxCorp(LJ) 4326 (HC-AP)
Direct Tax ·ITAT Delhi · 14 Nov 2014
S. 271(1)(c): No penalty can be levied for a bona fide "wrong" claim which is not a "false" claim
Poysha Goyal vs. ACIT
(2014) TaxCorp(LJ) 4325 (ITAT-DELHI) · Section. 271(1)(c)
Direct Tax ·ITAT Mumbai · 14 Nov 2014
S. 54: Purchasing the undivided share of a co-owner in a new flat constitutes a "purchase" & is eligible for exemption
ITO. vs. Narinder Kaur Bhatia
(2014) TaxCorp(LJ) 4324 (ITAT-MUMBAI) · Section. 54
Direct Tax ·Allahabad High Court · 14 Nov 2014
S. 14A/ Rule 8D: Interest expenditure attributable to a taxable business cannot be disallowed. Expenditure on creating assets which do not belong to the assessee is revenue expenditure
ACIT. vs. Dhampur Sugar Mill Pvt. Ltd.
(2014) TaxCorp(LJ) 4323 (HC-ALLAHABAD) · Section. 14A
Direct Tax ·Madras High Court · 14 Nov 2014
S. 2(47)(vi): A Power of Attorney which does not enable enjoyment of property does not result in a "transfer". CBDT Circular No.495 dated 22.9.1987 reads more into s. 2(47)(vi) than warranted
CIT. vs. C. Sugumaran
(2014) TaxCorp(LJ) 4322 (HC-MADRAS) · Sections. 2(47)(vi)
Direct Tax ·ITAT Hyderabad · 07 Nov 2014
Sec 292BB would operate prospectively as it curtails the right of the assessee
M/s. Ghanshyamdas Gems and Jewels v/s DCIT
(2014) TaxCorp(LJ) 4321 (ITAT-HYDERABAD) · Section. 292BB
Direct Tax ·ITAT Bangalore · 10 Oct 2014
Notice u/s 143(2) issued prior to filing of return in response to notice u/s 147 is invalid, even if return is filed late
Shri G.N.Mohan Raju v/s ITO
(2014) TaxCorp(LJ) 4320 (ITAT-BANGALORE) · Section. 143(2), 147
Direct Tax ·Delhi High Court · 12 Nov 2014
Liability for TDS u/s 194A does not arise if the beneficiary is not ascertainable and the person in whose name the interest is credited is not person liable to pay tax. Circular No. 08/ 2011 dated 14.10.2011 set aside
UCO Bank vs. UOI
(2014) TaxCorp(LJ) 4319 (HC-DELHI) · Section. 194A
Direct Tax ·ITAT Lucknow · 11 Nov 2014
S. 50C vs. s. 11: If a charitable institution invests the entire sale consideration in other capital asset, s. 50C should not be invoked
ACIT. vs. The Upper India Chamber of Commerce
(2014) TaxCorp(LJ) 4318 (ITAT-LUCKNOW) · Sections. 50C, 11
Direct Tax ·Calcutta High Court · 11 Nov 2014
Though a firm is not a "person" under UK law, it is so under the Indian law. Consequently, the firm is eligible for exemption under the India-UK DTAA. The department's contention that the firm is not eligible for benefits under the DTAA is not acceptable
P & O Nedlloyd Ltd. & Ors vs. ADIT
(2014) TaxCorp(LJ) 4317 (HC-CALCUTTA)
Direct Tax ·Bombay High Court · 12 Nov 2014
The person who constructs a road on Build, Operate and Transfer (BOT) basis on land owned by the Government is not the "owner" of the road and cannot claim depreciation thereon
North Karnataka Expressway Ltd. vs. CIT
(2014) TaxCorp(LJ) 4316 (HC-BOMBAY)
Direct Tax ·ITAT Hyderabad · 11 Nov 2014
Law on whether income from rent for lease of space in technology park and income from operation and management of facilities is assessable as "business profits" or "income from house property" explained
K. Raheja IT Park (Hyderabad) P. Ltd. vs. CIT
(2014) TaxCorp(LJ) 4315 (ITAT-HYDERABAD)
Direct Tax ·ITAT Kolkata · 11 Nov 2014
CIT(A) cannot decline to condone delay in filing appeal and still decide it on merits
Dr. Murari Mohan Kokey vs. ITO
(2014) TaxCorp(LJ) 4314 (ITAT-KOLKATA)
Direct Tax ·Madras High Court · 12 Nov 2014
Admission of undisclosed income by assessee constitutes good evidence. Loose sheets found during search can be relied upon
B. Kishore Kumar vs. DCIT
(2014) TaxCorp(LJ) 4313 (HC-MADRAS)
Direct Tax ·ITAT Delhi · 31 Oct 2014
Rule 10B(1)(b): Resale Price Method applies even where the goods are bought from an AE and sold to another AE
Yamaha Motor India Pvt. Ltd. vs. ACIT
(2014) TaxCorp(LJ) 4312 (ITAT-DELHI)
Direct Tax ·ITAT Delhi · 08 Nov 2014
Though there is a functional difference between a PE Fund and a Merchant Banker, A manager or a sub-advisor to the PE Fund cannot be equated with the PE Fund so as not to be comparable with Merchant Bankers
Xander Advisors India Pvt. Ltd. vs. ACIT
(2014) TaxCorp(LJ) 4311 (ITAT-DELHI)
Direct Tax ·Bombay High Court · 07 Nov 2014
S. 145: AO is not entitled to reject books of account in a casual and high-handed manner
CIT. vs. Teletronics Dealing Systems P. Ltd.
(2014) TaxCorp(LJ) 4310 (HC-BOMBAY) · Section. 145
Direct Tax ·ITAT Pune · 03 Nov 2014
Interest on NPAs is not taxable. As there is a conflict on the point between Vasisth Chay Vyapar Ltd 330 ITR 440 (Del) and Sakthi Finance Ltd., (2013) 31 taxmann.com 305 (Mad), the view in favour of the assessee has to be followed
ACIT. vs. Solapur Siddheshwar Sahakari Bank Ltd.
(2014) TaxCorp(LJ) 4309 (ITAT-PUNE)

Headnote lines are open to everyone. The full headnote and the judgment text open with a subscription — see plans or sign in.