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Income Tax - Case Laws

Showing 1 to 20 of 98304 Records

  • 2017 (9) TMI 1043 - DELHI HIGH COURT

    Eicher Motors Ltd. Versus Commissioner of Income-Tax-III

    Claim of weighted deduction under Section 35 (2AB) - Held that - Having held that the R&D expenditure as claimed by the Assessee ought to have been allowed, there was no question of remanding the matter to the AO for returning a finding on whether the expenditure was of revenue or capital nature. This is because, under Section 35 (2AB) of the Act, both revenue and capital expenditure are allowable in their entirety, excluding expenditure in the n....... + More

  • 2017 (9) TMI 1042 - MADRAS HIGH COURT

    M/s. Jayanthi Natarajan Versus Assistant Commissioner of Income Tax

    Reopening of assessment - reasons to believe - whether the respondent was duty bound to pass a separate speaking order on the objections raised by the petitioner for reopening? - Held that - The Hon ble Supreme Court in the case of GKN Driveshafts (India) Ltd. (2002 (11) TMI 7 - SUPREME Court) held that when a notice under Section 148 of the Income Tax Act is issued, the proper course of action for the noticee is to file a return and if he so des....... + More

  • 2017 (9) TMI 1041 - DELHI HIGH COURT

    Tulsi Tracom Private Limited Versus Commissioner of Income Tax – 9

    Revision u/s 263 - validity of notice - notice issued on wrong address - Held that - Held that - The notice having been given initially at the wrong address and thereafter posted to the correct address just two days prior to the said hearing and the said notice also having been returned unserved due to the reasons which are not decipherable, the requirement under Section 263 (1) of the Act is not satisfied. In Chandra Agencies (2010 (10) TMI 849 ....... + More

  • 2017 (9) TMI 1040 - GUJARAT HIGH COURT

    Genus Electrotech Ltd. Versus Union of India & 4

    Transfer of cases u/s 127 - reasons for change in jurisdiction - Held that - Even though an assessee may not have a vested right to insist that his assessment be completed only at one place or by a particular Assessing Officer, nevertheless, the reasons for transfer must be weighty enough to offset against such personal inconvenience of an assessee. In exercise of power under section 127 thus we are concerned with larger public interest on one ha....... + More

  • 2017 (9) TMI 1039 - BOMBAY HIGH COURT

    Golden Tobacco Ltd. (formerly known as GTC Industries Ltd.) Versus The Asstt. Commissioner of Income­-tax 8 (1) , Mumbai ­

    Scope of revision u/s 263 - order erroneous and prejudicial to the interest of Revenue - Held that - Without commenting in any manner and concluding that the invocation of the power was justified, the Tribunal has disposed of the matter. In a way it has made a short shrift or resorted to a shortcut. We do not think that this is a satisfactory way of deciding appeals and as a last fact finding authority. It was incumbent on the Tribunal to have go....... + More

  • 2017 (9) TMI 1038 - GUJARAT HIGH COURT

    Principal Commissioner of Income Tax -2 Versus Mazda Ltd.

    Disallowance of liquidated damage - allowable business expenditure u/s 37 - nature of expenses - Held that - Section 37 of the Act is the residuary provision granting deduction of an expenditure not being expenditure of the nature of capital expenditure or personal expenses of the assessee, which is laid out or expended wholly and exclusively for the purposes of business or profession and not specified in the preceding sections 30 to 36 of the Ac....... + More

  • 2017 (9) TMI 1037 - BOMBAY HIGH COURT

    Thyrocare Technologies Limited, Mumbai Versus The Income Tax Officer (TDS) 3 (4) , Mumbai And Thyrocare Technologies Limited Versus The Assistant Registrar representing the Income Tax Appellate Tribunal & Others

    TDS liability - payment to the parties who brought the samples for testing and reports at the assessee s door steps - arrangement as a principal to agent relationship - Tribunal assumes by terming the whole arrangement as a principal to agent relationship, that it is the appellant/assessee who is paying the money and therefore, for such services for which money is paid, the assessee is obliged to deduct tax at source - Held that - The appellant/a....... + More

  • 2017 (9) TMI 1036 - BOMBAY HIGH COURT

    Commissioner of Income Tax Versus Shri. Deepak Kumar Agarwal, Govind Agarwal, Manidevi Agarwal And Pr. Commissioner of Income Tax Versus Nikki Agarwal, Govind Agarwal

    Validity of the notice under Section 153A - addition under Section 68 on account of unexplained gifts received from the family members - Held that - No addition could have been made while completing assessment under Section 153A of the IT Act in the case of completed assessment if no undisclosed income was determinable from the material found as a result of search. The concurrent finding of fact is that no one could form an opinion that the subsc....... + More

  • 2017 (9) TMI 1035 - GUJARAT HIGH COURT

    Gujarat Ambuja Exports Ltd. Versus Deputy Commissioner of Income Tax - Circle - 2 (1) (1)

    Reopening of assessment - sufficiency of material available with the Assessing Officer to form a belief that income chargeable to tax had escaped assessment - bogus purchases - Held that - When fresh material was unearthed by the department through the investigation wing who had inquired into the transactions of M/s. S.R. Sales Corporation neither the question of change of opinion nor the concept of full disclosure may have a bearing. If the purc....... + More

  • 2017 (9) TMI 1034 - BOMBAY HIGH COURT

    Commissioner of Income Tax-24 And Pomela Bali Prasad Versus Shri M.H. Patel And Mr. Manubhai Hargovind Patel & Ors.

    The Appeal admitted on the following substantial question of law - (1) On the facts and circumstances of the case and in law the Hon ble I.T.A.T. erred in holding that the assessment was bad in law when it had itself in its order held that there was a typographical error while taking approval in the sense that the year was wrongly mentioned as Asst. Year 2001-2002 instead of 2000-2001 ignoring that the mistake is remedial in view of section 292B ....... + More

  • 2017 (9) TMI 1033 - ALLAHABAD HIGH COURT

    The Commissioner of Income Tax Versus Gyan Deep Shiksha Bharti

    Application for registration under section 12-AA - the date of application for registration under section 12-AA would be the date on which the application was originally made i.e. 20/21.11.2000 or the date on which subsequent application/representation dated 30.09.2004 was filed - Held that - When registration is granted it will be operative from the date of the order and the benefit of sections 11 and 12 of the Act on the basis of registration w....... + More

  • 2017 (9) TMI 1032 - ITAT DELHI

    ADIT (E) TC-II, New Delhi Versus Eklavya Foundation

    Exemption u/s 11 eligibility - proof of charitable activities - Held that - First Appellate Authority has rightly concluded that Eklavya Foundation is engaged in social cause without any profit motive and A.O. alleged that it is not an educational institution and is carrying out business activities and it is not maintaining separate books of accounts, all these allegations are misconceived notions of the A.O. After going through the impugned orde....... + More

  • 2017 (9) TMI 1031 - ITAT DELHI

    ADIT (E) , TC-II, New Delhi Versus Fortune Society for Development and Promotion of International Business

    Exemption u/s 11 - denial of claim because the assessee transferred the net profit for non-charitable purpose which is clear violation of section 11(1) and 11(1)(b) - Held that - We have noted that assessee is just transferred the above money to the infrastructure development fund as well as general reserve fund to be used for the purpose of the object of the trust of the assessee society and not for any other object other than the object of the ....... + More

  • 2017 (9) TMI 1030 - ITAT DELHI

    Krishna Charitable Society Versus Addl. CIT, Range-1, Ghaziabad

    Exemption u/s 11 - transport and hostel facilities surplus considered as business income of the assessee society - proof of charitable activities - Held that - As observed that the statutory obligation of maintenance of the hostel, which involved supply, and sale of food was an integral part of the objects of the Institute nor could the running of the hostel be treated as the principal activity of the Institute. The Institute could not be held to....... + More

  • 2017 (9) TMI 1029 - ITAT DELHI

    M/s. Bestech Hospitalities Pvt. Ltd. Versus ACIT, Central Circle –II, Faridabad

    Penalty u/s 271(1)(c) - additional income included in the return filed under section 153A - disclosure made in the statement of Sh. Dharmendra Bhandari, Director of the assessee company recorded under section 132(4) - effect of amendment in Explanation 5A to Sec 271(1)(c) - Held that - There cannot be any dispute to the fact that once a return is filed pursuant to notice under section 153A, the same is treated as return filed under section 139 of....... + More

  • 2017 (9) TMI 1028 - ITAT DELHI

    CR Fashions Pvt. Ltd. Versus ACIT (OSD) , Ward-3 (2) , New Delhi

    Disallowance of labour wages expenses, embroidery charges, fabrication expenses, and power and fuel expenses - assessment u/s 144 - AO has made the disallowances at the rate of 50 of all the expenditure - Held that - In view of the fact that assessee is shown a receipt of ₹ 25 Lacs and out of which all these expenditures have been incurred by the assessee. Had the assessing officer has any doubt about the payment in cash, then such doubtful....... + More

  • 2017 (9) TMI 1027 - ITAT DELHI

    DCIT, Central Circle-13, New Delhi Versus Esha Securities Pvt. Ltd.

    Unexplained credits received by the assessee company from Shri SK Gupta - Held that - The facts of the relevant issue involved in the appeal are similar to the facts discussed in the appeal of the assessee for assessment year 2004 05. During the year the information found from the laptop of Mr. S. K. Gupta was that assessee has obtained and accommodation entry of ₹ 5 255000 from that particular person. The assessee could not produce the bas....... + More

  • 2017 (9) TMI 1026 - ITAT DELHI

    DCIT, Circle-11 (1) , New Delhi Versus Eltek SGS Pvt. Ltd. And Vice-Versa

    Reopening of assessment - eligibility deduction under section 80 IB - Held that - CIT(A) has categorically held that assessee s investment in plant and machinery is below the specified limit and therefore it is entitled to deduction under section 80 IB of the income tax act. It was further held by him that in earlier years. The deduction has not been disturbed and therefore the eligibility conditions of the assessee are satisfied. Ld. departmenta....... + More

  • 2017 (9) TMI 1025 - ITAT DELHI

    Maharaja Agersen Kanya Mahavidhalaya Samiti S/o Shri Prem Prakash Advocate Versus CIT (Exemptions) Lucknow

    Rejecting application u/s 80G (5) - non charitable activities - non providing proper opportunity before rejecting the application for registration - Held that - We find that the Ld. A.R. has filed an affidavit of Shri Amit Kumar Singhal who is an employee of the Samiti in which he has stated that he was fully acquainted with the facts of the case and produced salary registers and other books of accounts before the Ld. CIT(E) which have been exami....... + More

  • 2017 (9) TMI 1024 - ITAT DELHI

    Granite Services International P. Ltd. Versus ACIT Circle 10 (2) , New Delhi

    TPA - comparable selection - Held that - Assessee is primarily engaged in providing technical support to its associated enterprises (AEs). The technical support services provided by the assessee to its AEs relate to provision of erection, installation, commissioning, warranty administration, operation and maintenance, inspection, renovation and modernization services for power plants and turbines, this companies functionally dissimilar with that ....... + More

  ↓     Latest Happening     ↓  

Highlight: Option to avail composition scheme under GST by electronically filing an intimation in FORM GST CMP-02 and FORM GST ITC-03 upto 30-9-2017 - See Rule 3(3A)

Forum: Input tax credit

Forum: GST on Notional rent


Forum: 3B mistake

Forum: Excise duty credit on finished stock at additional place of business.


TMI Note: Does ICDS apply for the purposes of computing exemption u/s 11 to 13.

Highlight: Voluntary Reporting of Estimated Current Income and Advance Tax Liability - CBDT issues draft notification

TMI Note: Certain ICDS provisions are inconsistent with judicial precedents. Whether these judicial precedents would prevail over ICDS.

Highlight: Provisions of ICDS shall prevail w.e.f. AY 2017-18 to the transactional issues dealt therein over earlier judicial pronouncements.

Notification: Levy of anti dumping duty on New/unused pneumatic radial tyres with or without tubes and/or flap of rubber (including tubeless tyres) having normal rim dia code above 16 originating in, or exported from China PR

News: Voluntary Reporting of Estimated Current Income and Advance Tax Liability

TMI Note: In case of conflict between ICDS and other specific provisions of the Income-tax rules, 1962 governing taxation of income like rules 9A, 9B etc. of the Rules, which provisions shall prevail.

TMI Note: Does ICDS apply to computation of Minimum Alternate Tax (MAT) u/s 115JB of the Act or Alternate Minimum Tax (AMT) u/s 115JC of the Act.

TMI Note: Where a term has not been defined under ICDS, nor under the Act, but has different interpretations given to it by the courts in tax cases, and in ICAI Accounting Standards, which interpretation would prevail while interpreting ICDS.

TMI Note: Whether the provisions of ICDS apply to a non-resident who claims the benefit of a double taxation avoidance agreement (DTAA).

TMI Note: In case any of the ICDS provisions is contrary to a circular or press release issued by the CBDT, which would prevail over the other.

TMI Note: ICDS-I requires disclosure of significant accounting policies and other ICDS requires specific disclosures. Where is the taxpayer required to make such disclosures specified in ICDS.

Notification: Income Computation and Disclosure Standards (ICDS) - New ICDS to be effective from AY 2017-18

Forum: Input credit of gst paid on urd

News: RBI Reference Rate for US $

Highlight: GST - Detention of goods under transport - discrepancy in documents - the statutory provisions provide a mechanism for adjudication following detention of goods including for the provisional release thereof pending adjudication - HC

Highlight: Reassessment - first few paragraphs of the assessment order dealt with objections and disposed of accordingly - Unfortunately, the manner in which the AO has decided the issue is wholly unsustainable in law - HC

Highlight: Business expenditure u/s 37 - liquidated damage - breach of contract terms - Expenditure was not incurred for any purpose which is an offence or which is prohibited by law - cannot be disallowed - HC

Highlight: Valuation - inclusion of reimbursement of expenses - managing participation of clients in certain mela, fairs, promotional activities etc. - They are liable to service tax on the gross amount received - They cannot restrict their tax liability to only agency commission

Highlight: TDS liability - ITAT confirmed the liability - We do not see how it is possible for us to uphold the order of the Tribunal and when it purports to decide two Appeals of the Revenue by single paragraph conclusion - HC

Highlight: Reopening of assessment - sufficiency of material available with the AO to form a belief that income chargeable to tax had escaped assessment - bogus purchases - seller refused to respond - notice would not be interfered with - HC

Highlight: Exemption u/s 11 - education activities - transport and hostel facilities surplus cannot be considered as business income of the assessee society

News: Draft Notification for insertion of new rule 39A in the Income-tax Rules, 1962 – comments and suggestions-reg.

Highlight: Genuineness of labour wages expenses, embroidery charges, fabrication expenses etc. - getting work done through small workmen who do not have any permanent place of residence - disallowance of ad hoc expenditure deleted.

Highlight: Project import - Since the goods were never used for the purpose for which it was imported, the actual user condition has been violated - Redemption fine and penalty imposed.

Highlight: Penalty u/s 112 (a) - CHA - Lack of due diligence and failure to take more precautions can not, by itself, bring in penal consequences

Highlight: Import of services - GST - The fact that those services were received outside India will not change the fact that the services have been paid for by the beneficiary appellant, who is located in India. - Demand confirmed.

Notification: SEZ for IT/ITES at Madhurwada Village, Visakhapatnam District in the State of Andhra Pradesh - denotified.

Highlight: Merely because payment is received in Indian rupee, it cannot be said that payment against export has not been received in convertible foreign exchange.

Highlight: Merely vehicle numbers was not mentioned on the invoices cannot be the reason to deny Cenvat Credit

Highlight: Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 120A of the Central Goods and Service Tax Rules, 2017 - Circular

Circular: Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 120A of the Central Goods and Service Tax Rules, 2017

News: Auction for Sale (Re-issue) of Government Stocks


News: Manmohan takes potshots at note ban, 'hasty' rollout of GST

News: GST on petrol, diesel requires wider discussion: Nitish


Notification: TDS liability under Section 51 of CGST, 2017 come into force w.e.f. 18-9-2017 - Persons liable to deduct TDS from payment made or credited to the supplier of taxable goods or services specified

Notification: Central Goods and Services Tax (Seventh Amendment) Rules, 2017

Notification: Seeks to extend the last date for filing the return in FORM GSTR-3B for the months of August to December, 2017

Circular: Filing of Special Leave Petition against Orders of Hon'ble High Courts staying Collection of Tax under GST- reg.

Highlight: Exemption u/s 54F - LTCCG - once entire net consideration is invested, the absence of completion certificate cannot be a ground to deny the benefit of deduction.

Highlight: Deduction u/s 10B - initial AY - Mere authorization to enable the Assessee to import material or export produce in the earlier date would not ipso facto tantamount to commencement of substantial activity of ‘manufacture’/’production’.

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