All landmark rulings

1. Direct Tax ·Bombay High Court · 10 Oct 2014
   Senior officers of the department summoned and strictures passed for ‘Irresponsible conduct’ of filing an appeal on a point which is admittedly covered against the department by a judgement of the Supreme Court

   CIT vs. Reliance Infrastructure Ltd.

   (2014) TaxCorp(LJ) 4228 (HC-BOMBAY)

2. Direct Tax ·ITAT Lucknow · 18 Sep 2014
   Reopening of s. 143(1) assessment on the basis of the retrospective amendment of section 80HHC of the Act by the Taxation Law (Amendment) Act, 2005 is bad as the said amendment is struck doen in Avani Exports vs. CIT (Guj HC)

   ACIT vs. M/s Northern Tannery

   (2014) TaxCorp(LJ) 4227 (ITAT-LUCKNOW) · Section. 143(1)

3. Direct Tax ·ITAT Delhi · 30 Sep 2014
   S. 115JB: Cost of use of land amortized in books cannot be added back for computing book profits

   ACIT. vs. NHPC Ltd.

   (2014) TaxCorp(LJ) 4226 (ITAT-DELHI) · Section. 115JB

4. Direct Tax ·Bombay High Court · 13 Oct 2014
   HC – Acceptance of Assessee is itself sufficient tangible material for the AO to reopen the assessment

   POWERDEAL ENERGY SYSTEMS (I) PVT LTD Vs ASSTT COMMISSIONER OF INCOME TAX

   (2014) TaxCorp(LJ) 4225 (HC-BOMBAY) · Income Tax - Sections 133A & 148

5. Direct Tax ·Madras High Court · 15 Sep 2014
   HC = Investment u/s 54EC falling under two financial years and crossing limit of Rs 50 lakhs

   COMMISSIONER OF INCOME TAX, CHENNAI Vs C JAICHANDER

   (2014) TaxCorp(LJ) 4224 (HC-MADRAS) · Income Tax - Sections 54EC, 255(4), 142 & 143(2).

6. Direct Tax ·Madras High Court · 17 Oct 2014
   HC – Interim stay granted on Clause 7 of CBDT notification (Levy of Interest u/s 234A) dated Sept 26, 2014

   All India Federation of Tax Practitioner vs. CBDT

   (2014) TaxCorp(LJ) 4223 (HC-MADRAS) · 234A

7. Direct Tax ·Madras High Court · 17 Oct 2014
   HC – Interim stay granted on Clause 7 of CBDT notification (Levy of Interest u/s 234A) dated Sept 26, 2014

   All India Federation of Tax Practitioner vs. CBDT

   (2014) TaxCorp(LJ) 4222 (HC-MADRAS) · 234A

8. Direct Tax ·Allahabad High Court · 24 Sep 2014
   HC - Mere existence of some profit does not disqualify for registration u/s 10(23C)(vi) as educational institution

   Chintels Education Society Versus Union of India And Others

   (2014) TaxCorp(LJ) 4221 (HC-ALLAHABAD)

9. Direct Tax ·ITAT Delhi · 24 Sep 2014
   ITAT - Merely because an expense relates to a transaction of an earlier year, it does not become prior period expenses

   Indian Farmers Fertilizer Cooperation Ltd. Versus ACIT, Circle-23(1), New Delhi

   (2014) TaxCorp(LJ) 4220 (ITAT-DELHI)

10. Direct Tax ·Karnataka High Court · 02 Sep 2014
    Premature payment of sales-tax deferral loan by paying an amount equal to the net present value of the deferred tax by which the entire liability to pay tax/loan stood discharged is not a "benefit" taxable u/s 41 (1)

    CIT vs. McDowell & Co Ltd.

    (2014) TaxCorp(LJ) 4219 (HC-KARNATAKA) · Section. 41(1)

11. Direct Tax ·Supreme Court · 23 Sep 2014
    As the UOI has continued the process of appointment of Tribunal Members without amending the Rules, the Petitioner, who was wait-listed in 2007, deserves to be considered for appointment within 30 days

    Inturi Rama Rao vs. UOI

    (2014) TaxCorp(LJ) 4218 (SC)

12. Direct Tax ·Gujarat High Court · 17 Feb 2014
    In view of retrospective amendment, s. 234D will apply to assessment orders passed after 01.06.2003

    CIT. Vs. Gujarat State Financial Services Ltd

    (2014) TaxCorp(LJ) 4217 (HC-GUJARAT) · Section. 234D

13. Direct Tax ·ITAT Mumbai · 08 Oct 2014
    Even if s. 50C addition can be made on the basis of stamp duty valuation, addition u/s 69B cannot be made barely on the basis of DVO's report

    ACIT. vs. Dilip Nabera (HUF)

    (2014) TaxCorp(LJ) 4216 (ITAT-MUMBAI) · Sections. 142A, 50C, 69B

14. Direct Tax ·ITAT Pune · 17 Sep 2014
    Change of method of accounting to value the stock of its investments / securities at lower of cost or market value is valid.

    ACIT vs. Bank of Maharashtra

    (2014) TaxCorp(LJ) 4215 (ITAT-PUNE) · Sections. 145, 28

15. Direct Tax ·ITAT Delhi · 30 Sep 2014
    Whether when the facts of a case are similar to a matter adjudicated by the a Special Bench and though no proposition laid down by the Bench was applied by the DRP while making its order on the same issue, it can be concluded that such an issue requires fresh adjudication

    ZIMMER INDIA PVT LTD. Vs. DCIT

    (2014) TaxCorp(LJ) 4214 (ITAT-DELHI) · Income tax - Sections 143(3), 144C

16. Direct Tax ·ITAT Hyderabad · 30 Sep 2014
    Whether where any item is excluded for the purpose of computing export turnover, it it calls for necessary exclusion of the same from total turnover for purpose of computing deduction u/s 10A

    M/s PAREXEL INTERNATIONAL INDIA PVT LTD. Vs. ACIT

    (2014) TaxCorp(LJ) 4213 (ITAT-HYDERABAD) · Income tax - Sections 10AA, 92CA(1), 133(6), 143(3), 144C(5)

17. Direct Tax ·ITAT Cochin · 08 Aug 2014
    TDS deductible on Excess amount paid on Cacellation of Flat Purchase Agreement

    The Income Tax Officer (TDS) Trivandrum Vs. M/s Beacon Projects P Ltd.

    (2014) TaxCorp(LJ) 4212 (ITAT-COCHIN)

18. Direct Tax ·ITAT Chandigarh · 30 Jan 2014
    Section 269SS not violated in accepting share application money or deposit in current account in cash

    M/s Eqbal Inn & Hotels Ltd. Vs. The JCIT

    (2014) TaxCorp(LJ) 4211 (ITAT-CHANDIGARH) · Section. 269SS

19. Direct Tax ·ITAT Mumbai · 30 May 2014
    ITAT Cannot be Precluded from handling any point which appertains to assessment even if it is raised for the first time

    Pradeep G. Vora Vs. ITO

    (2014) TaxCorp(LJ) 4210 (ITAT-MUMBAI)

20. Direct Tax ·ITAT Mumbai · 22 Aug 2014
    A.O Cannot act as a reviewing authorithy u/s 147 of Income Tax Act, 1961

    DCIT. Vs. Century Textiles and Industries Ltd.

    (2014) TaxCorp(LJ) 4209 (ITAT-MUMBAI) · Section. 147

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