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Showing posts with label Recent Judgements. Show all posts
Showing posts with label Recent Judgements. Show all posts

Three Important Judgements On ITAT Stay Of Demand, S. 80-IB(10) And Transfer Pricing Inapplicability

The following are the important judgements on ITAT Stay of Demand, S. 80-IB(10) and Transfer Pricing Inapplicability: CIT vs. Maruti Suzuki...

Five Important Judgements On Controversial Issues

The following are the important judgements on Controversial Issues: Mohan Gupta (HUF) vs. CIT (Delhi High Court) S. 147: Even s. 143(1) Inti...

Three Important Judgements On Taxability Of FTS, Accrual Of Foreign Salary And S. 40(a)(i) TDS Disallowance Under Retro Law

DIT vs. Nisso Lwai Corporation, Japan (Andhra Pradesh High Court) Design & Engineering drawings are in the nature of “plant” and conside...

Unclaimed Liabilities Not Taxable As Income Even If Creditors Not Traceable And Liabilities Are Non-Genuine

CIT vs. Bhogilal Ramjibhai Atara (Gujarat High Court) S. 41(1): Unclaimed liabilities (of earlier years), which are shown as payable in the ...

Three Important Judgements On TDS On Discounting Charges, Profit Split Method And S. 80-P Deduction For Co-op Society

The following important judgements are available for download at  itatonline.org . ITO vs. M K J Enterprises Ltd (ITAT Kolkata) Expenditure ...

Failure to Compute Capital Gains Under Section 50C does not lead to Escapement of Income : S. 147

ITO vs. Haresh Chand Agarwal HUF (ITAT Agra) The assessee sold property for Rs.6 lakh and offered capital gains on that basis. The AO accept...

Parking Spaces Cannot Be Sold by the Builder

The Supreme Court has upheld that order of the Bombay   High Court   and held that parking spaces cannot be sold by the builder. They are a ...

Employees’ PF/ ESI Contribution is also covered by s. 43B & allowable as a deduction u/s 36(1)(va) if paid by the “due date” for filing ROI

CIT vs. Jaipur Vidyut Vitran Nigam Ltd (Rajasthan High Court) In AY 2001-02 etc, the assessee claimed a deduction for payment of (employees’...

Road constructed on Build-Operate-Transfer (“BOT”) Terms is Eligible for Depreciation Even Though Assessee is not the Legal Owner of the Road

DCIT vs. Swarna Tollway Pvt. Ltd (ITAT Hyderabad) The assessee, a SPV, was awarded a contract by the NHAI for widening, rehabilitation and m...

S. 40(a)(ia) TDS Disallowance: View In Favour Of The Assessee Should Be Followed

ITO vs. M/s.Theekathir Press (ITAT Chennai) December, 27th, 2013 The assessee paid an amount without deducting TDS. The AO held that as ther...

Taxation of Derivatives as Speculation Income/ Loss is not applicable to FIIs

Platinum Asset Management Ltd vs. DDIT (No. 2) (ITAT Mumbai) December 5th, 2013 S. 115AD: High Court verdict in Bharat Ruia 337 ITR 452 (Bom...

Amount received by Partner on his retirement is not chargeable to tax as Capital Gains

CIT vs. Riyaz A. Sheikh (Bombay High Court) The assessee, a partner in a firm, received Rs. 66 lakhs over and above his capital contribution...

Deductor Couldn’t Be Penalized for Non-Mentioning of PAN in TDSCertificates

Deductor couldn’t be penalized for non-mentioning of PAN in TDS certificates issued to payee in Form 16A if payee hadn’t furnished his PAN t...

S. 14A/ Rule 8D: Interest on loans for specific taxable purposes to be excluded

ACIT vs. Best & Crompton Engineering Ltd (ITAT Chennai) Jul 26th, 2013 In AY 2009-10, the assessee contended that in computing the disal...

S. 14A/ Rule 8D does not apply to short-term investments, gains from which are taxable

Sundaram Asset Management Co. Ltd vs. DCIT (ITAT Chennai) In AY 2008-09 the assessee received tax-free dividend on its investments. The AO a...

Expenditure Cannot Be Considered Excessive Merely By Comparing It With Preceding Year’s Expenditure

The AO merely made comparative study of the expenses for the year under consideration with the preceding assessment year and found that expe...

Top 10 Landmark Tax Judgements Of 2012

There have been a number of landmark judgements in the year 2012 and making a short-list of just 10 of them is not an easy task. Yet, the au...