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Income Tax - Case Laws


2016 (2) TMI 415 - DELHI HIGH COURT

Director of Income Tax Versus New Skies Satellite BV, Shin Satellite Public Co. Ltd.

Receipts from providing data transmission services - ITAT upset Assessment Orders that ruled that the income derived by the assessees through data transmission services was taxable as royalty under Section 9(1)(vi) of the Act as well as Article 12 of the relevant Double Tax Avoidance Agreements - whether fall within the term royalty? - whether the assessees would be eligible for the benefit under the relevant Double Tax Avoidance Agreements? - He.....



Non deduction of tds - challenge to the notices / summonses issued u/s 201 - period of limitation for passing an order u/s 201 - whether section 201(3) of the Income Tax Act as amended on 1/10/2014 by Finance Act of 2014 would be applicable retrospectively or prospectively - TDS on Tele-Communication Interconnection Usage Charges - Held that - While amending section 201 by Finance Act, 2014, it has been specifically mentioned that the same shall .....

2016 (2) TMI 413 - BOMBAY HIGH COURT

Shri B.L. Shah Versus ACIT

Non-compete fees - whether classifiable under Section 17 of the Act as profits in lieu of salary? - AO observed that payment for noncompete fees with Grasim is only a camouflage - Held that - In the present facts, the Assessing Officer in his order has after negativing the Appellant s claim is a non-compete fee held that the same is classifiable as profit in lieu of salary under Section 17 of the Act. This determination by the Assessing Officer w.....


M/s Karnataka Power Transmission Corporation Ltd. Versus The Deputy Commissioner of Income-Tax (TDS)

TDS u/s 194A - non deduction of tds - provisions of Sections 201 and 201 1 attracted - whether no income accrued to the payees? - Held that - Section 194A of the Act mandates the tax deductor to deduct income tax on any income by way of interest other than income by way of interest on securities . The phrase any income and income tax thereon if read harmoniously, it would indicate that the interest which finally partakes the character of income, .....


Mundial Export Import Finance (P) Ltd. Versus Commissioner Of Income Tax Kolkata - Iv Circle

Compensation for loss suffered by CPT due to occupation of land in excess of what was demised - whether the aforesaid expenditure is an amount expended fully and exclusively for business purposes within the meaning of Section 37(1)? - Held that - The payment was made to compensate the loss suffered by CPT due to occupation of land in excess of what was demised to the assessee. Therefore, the payment did not partake the character of penalty. The p.....


The Pr. Commissioner Of Income-Tax-3, Ahmedabad Versus M/s. Ashish Chemicals

Addition made on account of suppression of profit - denial of exemption u/s.10B - ITAT deleted the addition - Held that - The assessee was engaged in manufacturing activity and had two units at Ahmedabad, one of them being export oriented unit, entitled for 100 deduction under section 10B of the Income Tax Act. As the assessee strenuously pointed out that the manufacturing activity of both units was entirely different. The process was vastly diff.....


M/s Kendanamane Estate Versus The State Of Karnataka

Addition on account of coffee income and pepper income - Held that - It is clear that the assessee owns 84.12 acres of coffee in Belagodu area of Sakaleshpur Taluk, Hassan District. The Assessing Officer taking into consideration the climatic conditions and the season coupled with the average yield of the previous three seasons in an area of 84.12 acres in a zone known for high coffee yield, determined the income from coffee. It is also noticed b.....


Pr. Commissioner Of Income Tax-1 Kanpur Versus Shri Pawan Kumar Gupta

Addition on protective basis on account of coal business carried out by the assessee through the syndicate of Bhutoria Group - Held that - On perusal of the records, statement recorded during the course of search at Kolkata and also the impugned seized computer sheets, it is seen that the said transactions as embodied in these seized document, actually represent the trading transactions of the syndicate working as a unit and, therefore, the asses.....

2016 (2) TMI 407 - BOMBAY HIGH COURT

Chowgule & Company Private Limited Versus Addl. Commissioner of Income-tax

Depreciation on intangible asset by way of Goodwill - amalgamation of a company duly approved - Held that - Depreciation on Goodwill paid upon amalgamation is a permissible deduction in terms of Section 32. See Commissioner of Income Tax, Kolkata Versus Smifs Securities Ltd. 2012 (8) TMI 713 - SUPREME COURT



Transfer pricing adjustment - Arm s Length Price on its international transactions by adopting Cost Plus Method undertaken as the said transaction fulfils the requisite conditions as enumerated under Section 12A - Held that - The submission of the appellant that the adjustment of TPO towards Account of Management charges is arbitrary has been dealt by the First as well as the Second Appellate Authority and a concurrent finding of fact has been re.....

2016 (2) TMI 405 - ITAT DELHI

DCIT, Circle-49 (1) , New Delhi Versus Catholic Relief Services

Validity of order u/s 201 - Failure to deduct tax at source - barred by limitation - Held that - Impugned order of the AO passed on 31.3.2011 in pursuance to the notice dated 15.11.2010 after considering the reply of the assessee dated 23.11.2010 is clearly barred by limitation. It is pertaining to mention that since proceedings for AY 2002-03 has been also initiated after search on 16.11.2009 when the amended provision did not come into existenc.....

2016 (2) TMI 404 - ITAT HYDERABAD

Gati Limited Versus Income Tax Officer, Ward 2 (2) Hyderabad

Expenditure incurred on the issue of Foreign Currency Convertible Bonds ( FCCB ) - capital expenditure OR revenue expenditure - Held that - A Bench of this Tribunal at Bangalore in the case of M/s. Crane Software International Ltd., Bangalore vs. DCIT, Circle-11(2) (2011 (2) TMI 1414 - ITAT BANGALORE), has considered whether FCCB issue expenses are in the nature of capital or revenue and has held the same to be revenue in nature. Similar view has.....

2016 (2) TMI 403 - ITAT AHMEDABAD

Kanak Castor Products P. Ltd. Versus DCIT, Centralised Processing Cell-TDS, Ghaziabad

Levy of fees under section 234E - intimation issued under section 200A in respect of processing of TDS - Held that - We find that the issue in all these appeals is now squarely covered in favour of the assessee by the decision of ITAT Amritsar Bench in the case of Sibia Healthcare Private Limited vs. DCIT 2015 (6) TMI 437 - ITAT AMRITSAR adjustment in respect of levy of fees under section 234E was indeed beyond the scope of permissible adjustment.....

2016 (2) TMI 402 - ITAT DELHI

M/s. Fazal Frozen Foods (Pvt.) Ltd. Versus Commissioner of Income-tax, Meerut.

Revision u/s 263 - as per CIT(A) AO has not examined the GP result of the assessee - Held that - As find that in earlier years, the books of account of the assessee were accepted by the AO and so were the trading results. We find in the year under consideration, the assessee has shown GP rate of 7.04 whereas in the previous assessment year it was 6.42 , which has been accepted by the Department. We also find that pursuant to the impugned CIT orde.....

2016 (2) TMI 401 - ITAT DELHI

ITO, Ward 11 (2) , New Delhi Versus M/s. First American Securities Pvt. Ltd.

Addition on account of interest - capital expenditure or revenue expenditure - Held that - We are in agreement with the ld. CIT (A) that the expenditure is to be treated as revenue in nature because the assessee is an investment company. We take note that assessee-company is a joint venture entity between AXA India Holdings and Bharti Enterprises (Holdings) Pvt. Ltd. and the business of the assessee company is to make strategic investments in the.....

2016 (2) TMI 400 - ITAT DELHI

ACIT, Circle 10 (1) , New Delhi Versus M/s. D.K.B. Infrastructure Pvt. Ltd.

Addition u/s 68 - CIT(A) deleted the addition - information on accommodations entries received from the Directorate of Income Tax (Investigation) - Held that - AO in his remand report has admitted that he has heavily relied on the inputs of investigation wing which piece of evidence was not admittedly given to the assessee during the time of the assessment proceedings which amounts to violation of natural justice. If the AO was heavily relying on.....

2016 (2) TMI 399 - ITAT BANGALORE

M/s Society of St. Francis De Sales Versus The Deputy Director of Income-tax, Circle-17 (1) , Bangalore

Carry forward of the deficit being the excess application of income to be set off against the income from property - whether the excess application of income during the year for charitable purposes can be carries forward and allowed to be set off in future years? - Held that - AO directed to allow the carry forward of the amount of excess income applied during the year to the future year for set off against the income. - Decided in favour assessee.

2016 (2) TMI 398 - ITAT BANGALORE

M/s. SAP Labs India Pvt. Ltd. Versus Addl. Commissioner of Income-tax, Range 12, Bangalore.

Extension stay beyond a period of 365 days - Held that - As rightly submitted by the learned counsel for the Assessee, the existence of all conditions for grant of stay has already been considered by this Tribunal and at this stage, new conditions cannot be imposed. As rightly submitted by the learned counsel for the Assessee, the non-existence of financial hardship cannot be conclusive in the matter. In any event these parameters have already be.....

2016 (2) TMI 397 - ITAT BANGALORE

Asst. Commissioner of Income-tax, Circle 1 (1) , Mangalore Versus M/s. Coastal Roadways

Disallowance u/s 40A - Held that - The official proclamation that sub-section (3) of section 40A is being substituted to nullify the loophole created by the judicial decisions, the legal position remains the same even after the said substitution. The newly substituted subsection (3) contains the phrase a payment or aggregate of payments made to a person in a day. .This expression is analogous to the phrase in a sum used in erstwhile Sec.40A(3) of.....


Visakhapatnam Kakinada Petroleum, Chemical and Petrochemical Investment Region Versus CIT-1, Visakhapatnam

Entitlement to registration u/s 12AA - Held that - The assessee neither or nor involved directly rendering any service relating to trade, commerce or business. The activity undertaken by the authority comes within the object of the general public utility but, it cannot be concluded that it involves the carrying on of any activity in the nature of trade, commerce or business. Unless the activity undertaken by the assessee comes within the ambit of.....


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