All landmark rulings

1. Direct Tax ·ITAT Hyderabad · 12 Sep 2014
   Whether the disallowance made u/s 40(a)(ia) for the year 2009-10 will be sustainable when the amendment made by the Finance Act, 2010, is said to be retrospective in nature

   DCIT. Vs. Hycons Infrastructures India Ltd.

   (2014) TaxCorp(LJ) 4188 (ITAT-HYDERABAD) · Income Tax - Sections 40(a)(ia)

2. Direct Tax ·ITAT Mumbai · 12 Sep 2014
   Whether assessee can claim deduction u/s 10A even if it was in the business prior to the date of the registration of the STP

   ITO. Vs. Digitise IT (India) Pvt Ltd.

   (2014) TaxCorp(LJ) 4187 (ITAT-MUMBAI) · Income Tax - Sections 10A, 10B

3. Direct Tax ·ITAT Jodhpur · 15 Sep 2014
   Whether any addition made will be sustainable if nothing is brought on record to substantiate that the reconciliation statement furnished by the assessee was incorrect

   ITO. Vs. Adhunik Khananva Parivahan Theka Sahkari Samiti Ltd.

   (2014) TaxCorp(LJ) 4186 (ITAT-JODHPUR) · Income Tax - Sections 133(6), 143(3)

4. Direct Tax ·ITAT Hyderabad · 26 Sep 2014
   Limitation period u/s 263 to be reckoned from the date of the original assessment passed u/s 143(3)

   LOUIS BERGER GROUP INC Vs ADIT

   (2014) TaxCorp(LJ) 4185 (ITAT-HYDERABAD)

5. Direct Tax ·ITAT Hyderabad · 19 Sep 2014
   Whether when the assessee is a distributor of medical devices purchased from its AE, and the fact that the costs of purchase are controlled costs, the adoption of operating profit to operating revenue as PLI is more appropriate as per the OECD TP Guidelines, 2010

   DCIT. Vs. ST JUDE MEDICAL INDIA PVT LTD.

   (2014) TaxCorp(LJ) 4184 (ITAT-HYDERABAD) · Income Tax - Section 92CA

6. Direct Tax ·ITAT Hyderabad · 19 Sep 2014
   Whether when it comes to selection of comparables, the size of operations does not matter

   BERKADIA SERVICES INDIA PVT LTD. Vs. DCIT

   (2014) TaxCorp(LJ) 4183 (ITAT-HYDERABAD) · Income tax - Sections 10A, 92CA(1), 133(6), 143(3), 144C(5)

7. Direct Tax ·ITAT Mumbai · 12 Sep 2014
   Whether when the assessee has disclosed a material fact in respect of consideration received from sale of a house property which was indespensible for carrying out original assessment, the AO can initiate reassessment u/s 148 by culling out "difference in the amount of sale consideration on account of market value" as his "reasons to belive"

   DCIT. Vs. BINANI METALS LIMITED

   (2014) TaxCorp(LJ) 4182 (ITAT-MUMBAI) · Income tax - Sections 143(3), 147, 148

8. Direct Tax ·Delhi High Court · 16 Sep 2014
   Whether in the case of huge investments received by the assessee towards share capital, mere furnishing of PAN establishes the identity and creditworthiness of the creditors

   CIT. Vs. FOCUS EXPORTS PVT LTD.

   (2014) TaxCorp(LJ) 4181 (HC-DELHI) · Income Tax - Sections 68, 143(3), 144, 147

9. Direct Tax ·Bombay High Court · 01 Oct 2014
   S. 244A(1)(b): Refund of Self-Assessment tax is also entitled to interest

   CIT vs. Indian Oil Corporation Ltd.

   (2014) TaxCorp(LJ) 4180 (HC-BOMBAY) · Section. 244A(1)(b)

10. Direct Tax ·Bombay High Court · 01 Oct 2014
    S. 271(1)(c): Non-offering of stamp duty/DVO value as consideration for capital gains does not attract penalty if facts are on record

    CIT vs. Fortune Hotels and Estates Pvt. Ltd.

    (2014) TaxCorp(LJ) 4179 (HC-BOMBAY) · Section. 271(1)(c)

11. Direct Tax ·Delhi High Court · 23 Sep 2014
    HC – SCN issued to the company sufficient for prosecution of directors

    INCOME TAX OFFICER Vs ANIL BATRA AND ANR

    (2014) TaxCorp(LJ) 4178 (HC-DELHI) · 276-B

12. Direct Tax ·Gujarat High Court · 22 Sep 2014
    Gujarat High Court : extension of return-filing date

    ALL GUJARAT FEDERATION OF TAX CONSULTANTS Vs CENTRAL BOARD OF DIRECT TAXES

    (2014) TaxCorp(LJ) 4177 (HC-GUJARAT) · 44AB

13. Direct Tax ·Bombay High Court · 25 Sep 2014
    Bombay High Court : Extension of due date for filing income tax return

    THE CHAMBER OF TAX CONSULTANTS THROUGH ITS PRESIDENT SHRI PARAS SAVLA & OTHERS Vs UNION OF INDIA THROUGH ITS SECRETARY MINISTRY OF FINANCE & OTHERS

    (2014) TaxCorp(LJ) 4176 (HC-BOMBAY) · 44AB

14. Direct Tax ·Supreme Court · 25 Sep 2014
    SC - Stock Exchange, being a secured creditor, would have priority over Income Tax dues

    THE STOCK EXCHANGE, BOMBAY Vs V S KANDALGAONKAR & ORS

    (2014) TaxCorp(LJ) 4175 (SC)

15. Direct Tax ·Supreme Court · 25 Sep 2014
    SC - Supreme Court strikes down National Tax Tribunal

    MADRAS BAR ASSOCIATION Vs UoI

    (2014) TaxCorp(LJ) 4174 (SC)

16. Direct Tax ·Delhi High Court · 15 Sep 2014
    HC – Taxability of amount received on compulsory warranty and servicing obligations

    COMMISSIONER OF INCOME TAX-X Vs SMT PARAMJEET LUTHRA

    (2014) TaxCorp(LJ) 4173 (HC-DELHI) · Income Tax - Sections 37 & 68

17. Direct Tax ·ITAT Mumbai · 12 Sep 2014
    ITAT- Income from investing money with sister concerns not in relation to main object, taxable as “other sources”

    Grewal Export Pvt. Ltd. vs ACIT

    (2014) TaxCorp(LJ) 4172 (ITAT-MUMBAI)

18. Direct Tax ·ITAT Kolkata · 19 Sep 2014
    ITAT - Money laundering through shell companies and share capital - 263 order upheld

    M/s. Bisakha Sales Pvt. Ltd. V. CIT

    (2014) TaxCorp(LJ) 4171 (ITAT-KOLKATA) · 263 r/w 68

19. Direct Tax ·Bombay High Court · 20 Sep 2014
    S. 80-IB(10)(d): Limit on extent of commercial area of housing project inserted w.e.f. 1.4.2005 does not apply to projects approved before that date

    CIT. vs. M/s Happy Home Enterprises

    (2014) TaxCorp(LJ) 4170 (HC-BOMBAY) · Section 80-IB(10)(d)

20. Direct Tax ·ITAT Mumbai · 09 Sep 2014
    ITAT explains how to serve Proper Notice by Post & affixtures

    Shri Sanjay Badani Vs. DCIT

    (2014) TaxCorp(LJ) 4169 (ITAT-MUMBAI)

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