Direct tax Weekly Digest

Weekly Digest #2 04 Jan to 10 Jan 2020 10 Rulings

Income tax Appellate Tribunal ITAT:Deletes Sec. 40(a)(i) disallowance on FTS payments to French-parent; Applies restrictive definition under India-Portuguese DTAA

Jan 07, 2020

In Favour of : Assessee
Citation Number : TS-2-ITAT-2020(PUN)

High Court HC:Upholds compounding-fee levy at 5 treating compounding application as second occasion; Dismisses review petition

Jan 07, 2020

In Favour of : Revenue
Citation Number : TS-827-HC-2019(MP)

Income tax Appellate Tribunal ITAT:Rejects Sec 10A-deduction restriction absent agreement for earning higher TP-margins; Follows Quick MD ruling

Jan 08, 2020

In Favour of : Assessee
Citation Number : TS-830-ITAT-2019(HYD)

Income tax Appellate Tribunal ITAT:Holds sale of penny stock transaction as sham; Denies exemption u/s. 10(38)

Jan 09, 2020

In Favour of : Revenue
Citation Number : TS-4-ITAT-2020(CHNY)

Income tax Appellate Tribunal ITAT:Disapproves deviation in AO's final assessment order from draft order, absent DRP-directions

Jan 09, 2020

In Favour of : Both, Partially
Citation Number : TS-833-ITAT-2019(Mum)

Income tax Appellate Tribunal ITAT:Allows deduction u/s 54 w.r.t installments paid for construction prior to transfer of flat

Jan 06, 2020

In Favour of : Both, Partially
Citation Number : TS-825-ITAT-2019(DEL)

High Court HC:Upholds ITAT-order granting Sec. 54 benefit; Treats flat acquisition from builder as 'construction', not 'purchase'

Jan 10, 2020

In Favour of : Assessee
Citation Number : TS-835-HC-2019(DEL)

High Court HC:Up-linking & broadcasting payments subject to TDS u/s 194C, not Sec. 194J

Jan 10, 2020

In Favour of : Assessee
Citation Number : TS-7-HC-2020(CAL)

Supreme Court SC: SC:Dismisses SLP against HC-order denying 'Eco-friendly' tax holiday u/s 80IC to hotel

Jan 10, 2020

In Favour of : Revenue
Citation Number : TS-5-SC-2020

High Court HC:Directs Selection Committee to re-consider IRS Officers' applications applying for ITAT member position

Jan 06, 2020

In Favour of : Both, Partially
Citation Number : TS-824-HC-2019(DEL)

Weekly Digest #1 28 Dec to 03 Jan 2020 6 Rulings

High Court HC:Set-aside ITAT's 'cryptic' order upholding disallowance u/s 40(a)(ia), directs ITAT to issue speaking order

Dec 31, 2019

In Favour of : Both, Partially
Citation Number : TS-808-HC-2019(KAR)

Income tax Appellate Tribunal ITAT:Upholds Sec. 40(b)(iv) applicability to loan from partners; Disallows interest in excess of 12

Jan 01, 2020

In Favour of : Revenue
Citation Number : TS-809-ITAT-2019(Mum)

Income tax Appellate Tribunal ITAT:Assessee's Indian-agent not PE when remunerated at ALP in terms of APA

Jan 02, 2020

In Favour of : Assessee
Citation Number : TS-815-ITAT-2019(Mum)

Income tax Appellate Tribunal ITAT:Grants Sec. 35AD benefit to Hotel; '4 Star' Certificate issuance date irrelevant

Jan 03, 2020

In Favour of : Assessee
Citation Number : TS-819-ITAT-2019(LKW)

Income tax Appellate Tribunal ITAT:Upholds reassessment on share-trader based on information from investigation wing

Jan 02, 2020

In Favour of : Both, Partially
Citation Number : TS-817-ITAT-2019(Ahd)

High Court HC:Quashes reassessment initiation beyond 4 years, reopening reasons not well founded

Jan 03, 2020

In Favour of : Assessee
Citation Number : TS-820-HC-2019(DEL)

Weekly Digest #51 21 Dec to 27 Dec 2019 6 Rulings

Income tax Appellate Tribunal ITAT:Allows Sec 54-deduction on new flat received under re-development of earlier inherited property

Dec 26, 2019

In Favour of : Assessee
Citation Number : TS-796-ITAT-2019(Mum)

Income tax Appellate Tribunal ITAT:Deletes notional interest addition on partner's current account balance for partnership firm

Dec 27, 2019

In Favour of : Assessee
Citation Number : TS-800-ITAT-2019(Kol)

Income tax Appellate Tribunal ITAT:Allows netting-off of directly relatable undisclosed expenditure from undisclosed income for determining addition

Dec 27, 2019

In Favour of : Assessee
Citation Number : TS-801-ITAT-2019(PUN)

Income tax Appellate Tribunal ITAT:Technical Services” payment to Korean National, covered by Article on Independent Personal Services”, not FTS

Dec 27, 2019

In Favour of : Assessee
Citation Number : TS-803-ITAT-2019(Ahd)

Income tax Appellate Tribunal ITAT:Associate members in excess of 15, violation of Karnataka Co-Op. Societies Act; Denies deduction u/s.80P

Dec 27, 2019

In Favour of : Revenue
Citation Number : TS-804-ITAT-2019(Bang)

Income tax Appellate Tribunal ITAT:Deletes concealment penalty u/s. 271(1)(c) in Johnson & Johnson's hands w.r.t non-disclosure of Sri Lanka branch profits

Dec 27, 2019

In Favour of : Assessee
Citation Number : TS-805-ITAT-2019(Mum)

Weekly Digest #49 07 Dec to 20 Dec 2019 9 Rulings

Income tax Appellate Tribunal ITAT:Restricts disallowance to 10 of income from vegetables sale; Agricultural operations proved by assessee

Dec 09, 2019

In Favour of : Assessee
Citation Number : TS-759-ITAT-2019(CHNY)

Income tax Appellate Tribunal ITAT:Rejects Sec.263 order validity challenge citing malafide in not objecting during revision proceedings

Dec 11, 2019

In Favour of : Revenue
Citation Number : TS-765-ITAT-2019(Mum)

Income tax Appellate Tribunal ITAT:Treats cranes as motor vehicles, allows depreciation at higher rate

Dec 06, 2019

In Favour of : Assessee
Citation Number : TS-753-ITAT-2019(DEL)

Income tax Appellate Tribunal ITAT:Upholds TDS default proceedings for non-deduction of TDS on LTA reimbursement on employees' foreign travel

Dec 05, 2019

In Favour of : Revenue
Citation Number : TS-750-ITAT-2019(Ahd)

High Court HC:Grants liberty to Revenue to revive reassessment proceedings if order-forming-basis is sustained by HC

Dec 13, 2019

In Favour of : Revenue
Citation Number : TS-773-HC-2019(DEL)

Income tax Appellate Tribunal ITAT:Allows Sec 54F benefit for investment in residential house outside India

Dec 13, 2019

In Favour of : Assessee
Citation Number : TS-774-ITAT-2019(DEL)

Supreme Court SC:Dismisses review petition, Sec.194H applicable on Prasar Bharati's commission payments to advertising agencies

Dec 09, 2019

In Favour of : Revenue
Citation Number : TS-761-SC-2019

Income tax Appellate Tribunal ITAT:Assessee's non-prosecution shouldn't close doors of judicature permanently; Directs CIT(A) for adjudication on merits

Dec 13, 2019

In Favour of : Assessee
Citation Number : TS-775-ITAT-2019(ASR)

Income tax Appellate Tribunal ITAT: ITAT:No TDS u/s 194H on margin allowed by Pfizer to stockists on P2P sales

Dec 13, 2019

In Favour of : Assessee
Citation Number : TS-772-ITAT-2019(Mum)

Weekly Digest #50 07 Dec to 20 Dec 2019 4 Rulings

Income tax Appellate Tribunal ITAT:No penalty shall be levied u/s 272A(2)(k) for belated filing of TDS returns on or after 1st day of July, 2012

Dec 18, 2019

In Favour of : Assessee
Citation Number : TS-782-ITAT-2019(Mum)

Income tax Appellate Tribunal ITAT:Rejects CIT's capital loss” treatment for 'entire' abandoned advertisement campaign expenditure incurred by L'Oreal

Dec 18, 2019

In Favour of : Both, Partially
Citation Number : TS-784-ITAT-2019(Mum)

Income tax Appellate Tribunal ITAT:Sets-aside CIT(A) order dismissing assessee's appeal for non-prosecution without considering grounds raised on merits

Dec 19, 2019

In Favour of : Assessee
Citation Number : TS-786-ITAT-2019(CHNY)

Supreme Court SC:Dismisses assessee's SLP; HC had dismissed writ challenging non-supply of information from AO

Dec 20, 2019

In Favour of : Revenue
Citation Number : TS-789-SC-2019

Weekly Digest #48 30 Nov to 06 Dec 2019 7 Rulings

High Court HC:Quashes TPO-reference absent AO's redressal of assessee's preliminary objections against reassessment

Dec 02, 2019

In Favour of : Assessee
Citation Number : TS-741-HC-2019(KAR)

Income tax Appellate Tribunal ITAT: NR's consultancy services rendered outside India not taxable u/s 5(2)(a) despite deposit in Indian a/c

Dec 06, 2019

In Favour of : Assessee
Citation Number : TS-752-ITAT-2019(Kol)

High Court HC:Dismisses assessee's writs moved at 11th hour 59th minute” resulting in derail of assessment process

Dec 06, 2019

In Favour of : Revenue
Citation Number : TS-755-HC-2019(MAD)

High Court HC:Telecast of 'Gurudevji's' spiritual lectures, not for personal benefits; Upholds ITAT order allowing exemption u/s 11

Dec 06, 2019

In Favour of : Assessee
Citation Number : TS-751-HC-2019(DEL)

Income tax Appellate Tribunal ITAT:Deprecates AO's action of taxing assessee-AOP's gross receipts vide Sec.143(1) intimation

Dec 03, 2019

In Favour of : Assessee
Citation Number : TS-745-ITAT-2019(CHNY)

Income tax Appellate Tribunal ITAT:Remits issue for framing fresh assessment-order u/s. 172(4) after following Sec.144C path; Relies on co-ordinate bench

Dec 06, 2019

In Favour of : Assessee
Citation Number : TS-757-ITAT-2019(Rjt)

High Court HC:Upholds ITAT order in Rolls Royce's PE matter

Dec 06, 2019

In Favour of : Revenue
Citation Number : TS-756-HC-2019(DEL)

Weekly Digest #47 23 Nov to 29 Nov 2019 7 Rulings

Income tax Appellate Tribunal ITAT:Penalty leviable u/s 271AAB, not u/s 271(1)(c) where search initiated before Dec-2016

Nov 29, 2019

In Favour of : Assessee
Citation Number : TS-730-ITAT-2019(CHNY)

Income tax Appellate Tribunal ITAT:Subscription to chit fund by trust, violative of Sec.11(5); Denies exemption u/s 11

Nov 29, 2019

In Favour of : Revenue
Citation Number : TS-731-ITAT-2019(CHNY)

High Court HC:Sets-aside ITAT order upholding additions based on presumption u/s. 132(4A) absent corroborative evidence

Nov 29, 2019

In Favour of : Both, Partially
Citation Number : TS-732-HC-2019(ALL)

Income tax Appellate Tribunal ITAT:Deletes penalty on exchange-rate difference arising on delayed tax deduction/Form-26AS generation

Nov 29, 2019

In Favour of : Assessee
Citation Number : TS-734-ITAT-2019(Mum)

Income tax Appellate Tribunal ITAT:Listing fees incurred for change of stock exchange, not capital expenditure; Rejects enduring benefit plea

Nov 29, 2019

In Favour of : Assessee
Citation Number : TS-736-ITAT-2019(DEL)

Income tax Appellate Tribunal ITAT:Allows deduction u/s 37 w.r.t provision created for likely price revision by GAIL

Nov 29, 2019

In Favour of : Assessee
Citation Number : TS-737-ITAT-2019(HYD)

High Court HC:CIT's revisionary order u/s 263 barred by limitation, upholds ITAT's order

Nov 29, 2019

In Favour of : Assessee
Citation Number : TS-733-HC-2019(CAL)

Weekly Digest #46 16 Nov to 22 Nov 2019 10 Rulings

High Court HC:Dismisses assessee's writ challenging non-supply of information sought from AO

Nov 18, 2019

In Favour of : Revenue
Citation Number : TS-706-HC-2019(DEL)

High Court HC:Dismisses Revenue's appeal; No further attribution to PE, once ALP satisfied

Nov 21, 2019

In Favour of : Assessee
Citation Number : TS-716-HC-2019(DEL)

Income tax Appellate Tribunal ITAT:Payment from different bank account for acquiring new asset, not an estoppel for Sec.54 deduction

Nov 21, 2019

In Favour of : Assessee
Citation Number : TS-717-ITAT-2019(CHANDI)

Income tax Appellate Tribunal ITAT:Inference from SEZ Act/Rules unnecessary when definition provided in IT Act, Denies Sec.10AA benefit

Nov 21, 2019

In Favour of : Revenue
Citation Number : TS-719-ITAT-2019(COCH)

Supreme Court SC:Dismisses SLP, confirms undisclosed income addition w.r.t property sold by assessee's mother

Nov 19, 2019

In Favour of : Revenue
Citation Number : TS-709-SC-2019

Income tax Appellate Tribunal ITAT:Dismisses assessee's appeal; Expenditure incurred for replacement of windmill, CAPEX not Revenue

Nov 20, 2019

In Favour of : Revenue
Citation Number : TS-714-ITAT-2019(CHNY)

Income tax Appellate Tribunal ITAT: Approves Nokia's percentage completion based revenue-recognition; Delete addition of unearned revenue of over Rs.102 cr

Nov 22, 2019

In Favour of : Assessee
Citation Number : TS-721-ITAT-2019(DEL)

High Court HC:Quashes reassessment proceedings initiated beyond 4yrs; Suggests ways to improve quality of adjudication

Nov 22, 2019

In Favour of : Assessee
Citation Number : TS-720-HC-2019(MAD)

Income tax Appellate Tribunal ITAT:Share-premium utilised to repay loans, a scheming use of corporate veil; Remits issue for re-adjudication

Nov 22, 2019

In Favour of : Both, Partially
Citation Number : TS-722-ITAT-2019(Mum)

Income tax Appellate Tribunal ITAT:Amount received by sole-proprietor towards transfer of goodwill to newly set-up company, a capital asset

Nov 20, 2019

In Favour of : Assessee
Citation Number : TS-713-ITAT-2019(Kol)

Weekly Digest #45 09 Nov to 15 Nov 2019 8 Rulings

Income tax Appellate Tribunal ITAT:Allows assessee's MP; Recalls ITAT-order to decide grounds not adjudicated earlier

Nov 12, 2019

In Favour of : Assessee
Citation Number : TS-687-ITAT-2019(Kol)

Income tax Appellate Tribunal ITAT:Confirms part-disallowance of employment-benefit expenses for investment-company citing lack of commercial expediency

Nov 14, 2019

In Favour of : Both, Partially
Citation Number : TS-693-ITAT-2019(Kol)

Income tax Appellate Tribunal ITAT:Invokes rectification powers u/s.254(2) to restrict exorbitant cost imposed on assessee vis-à-vis tax liability

Nov 14, 2019

In Favour of : Both, Partially
Citation Number : TS-694-ITAT-2019(Bang)

Income tax Appellate Tribunal ITAT:Allows deduction u/s.80P to Souharda Co-operative; Follows ruling of single-member over division-bench

Nov 14, 2019

In Favour of : Assessee
Citation Number : TS-695-ITAT-2019(Bang)

Income tax Appellate Tribunal ITAT:Brokerage on hedging transactions, part of speculative loss; Rejects business loss plea

Nov 15, 2019

In Favour of : Revenue
Citation Number : TS-698-ITAT-2019(Ind)

Income tax Appellate Tribunal ITAT:Dismisses Revenue's appeal against CIT(A)'s rectification order on non-adjudication of ground

Nov 15, 2019

In Favour of : Revenue
Citation Number : TS-699-ITAT-2019(DEL)

Income tax Appellate Tribunal ITAT:Upholds CIT(A) order confirming penalty u/s. 271(1)(c) regarding cash gift received by assessee from sister

Nov 15, 2019

In Favour of : Assessee
Citation Number : TS-700-ITAT-2019(Mum)

Income tax Appellate Tribunal ITAT:Nexus between funds arising from sale and funds utilised for acquisition, irrelevant; Grants Sec.54 exemption

Nov 15, 2019

In Favour of : Assessee
Citation Number : TS-701-ITAT-2019(DEL)

Weekly Digest #44 02 Nov to 08 Nov 2019 11 Rulings

Income tax Appellate Tribunal ITAT:Reckons specific-area allotment date as date of acquisition of property

Nov 05, 2019

In Favour of : Assessee
Citation Number : TS-664-ITAT-2019(Mum)

Income tax Appellate Tribunal ITAT:Disallowance of salary attributable to SEZ-units not in AO's power, TPO-reference must

Nov 06, 2019

In Favour of : Assessee
Citation Number : TS-671-ITAT-2019(Ind)

Income tax Appellate Tribunal ITAT:NBFC's loss incurred on forfeiture of convertible debentures held as stock-in-trade, a business” loss

Nov 06, 2019

In Favour of : Assessee
Citation Number : TS-672-ITAT-2019(DEL)

High Court HC:Commercial advance to closely-held Co., not deemed dividend for common shareholder; Quashes ITSC's 'illegal' order

Oct 17, 2019

In Favour of : Assessee
Citation Number : TS-627-HC-2019(MAD)

Income tax Appellate Tribunal ITAT:Donation to assessee's trust as 'goodwill gesture' not part of settlement compensation; Deletes addition

Nov 05, 2019

In Favour of : Assessee
Citation Number : TS-663-ITAT-2019(CHNY)

High Court HC:Sec. 194C inapplicable to bulk ad-space purchase; Refers CBDT Circular 13/2006, deletes Sec. 40(a)(ia) disallowance

Nov 06, 2019

In Favour of : Assessee
Citation Number : TS-666-HC-2019(KAR)

Supreme Court SC:Dismisses review-petition against SLP dismissal, HC had upheld constitutional validity of dividend income taxation

Nov 08, 2019

In Favour of : Revenue
Citation Number : TS-676-SC-2019

Income tax Appellate Tribunal ITAT:Assessee's technical fees payment to foreign co. revenue in nature, absent enduring benefit

Nov 08, 2019

In Favour of : Assessee
Citation Number : TS-680-ITAT-2019(DEL)

High Court HC:Allows assessee's writ; Orders release of seized jewels retained by Revenue by applying Sec.132B

Nov 08, 2019

In Favour of : Assessee
Citation Number : TS-679-HC-2019(MAD)

Income tax Appellate Tribunal ITAT:Restricts sale consideration at 30 of project construction cost, directs re-computation of capital-gains

Nov 08, 2019

In Favour of : Assessee
Citation Number : TS-681-ITAT-2019(HYD)

Income tax Appellate Tribunal ITAT:Quashes re-assessment order passed by JCIT in capacity of AO absent separate order u/s. 120(4)(b)

Nov 08, 2019

In Favour of : Assessee
Citation Number : TS-682-ITAT-2019(Mum)

Weekly Digest #43 26 Oct to 01 Nov 2019 4 Rulings

Income tax Appellate Tribunal ITAT:Upholds addition u/s 69A for unaccounted gold-sale, however, grants partial relief for 'explained' source

Nov 01, 2019

In Favour of : Both, Partially
Citation Number : TS-654-ITAT-2019(Kol)

Supreme Court SC:Directs HC to consider 'question of law' in relation to Voda-Idea's Sec.36(1)(iii) disallowance

Nov 01, 2019

In Favour of : Assessee
Citation Number : TS-652-SC-2019

Income tax Appellate Tribunal ITAT:Reassessment on Idea's amalgamating non-existent company, invalid; Dismisses Revenue's appeal

Nov 01, 2019

In Favour of : Assessee
Citation Number : TS-656-ITAT-2019(Mum)

Income tax Appellate Tribunal ITAT:Allows deduction for RBI-approved 'washout charges' payment upon contract cancellation with foreign AE

Nov 01, 2019

In Favour of : Assessee
Citation Number : TS-657-ITAT-2019(DEL)

Weekly Digest #42 19 Oct to 25 Oct 2019 5 Rulings

Income tax Appellate Tribunal ITAT:Interest on Escrow, tonnage income eligible for special rates u/s. 115VP for shipping companies

Oct 25, 2019

In Favour of : Assessee
Citation Number : TS-638-ITAT-2019(PUN)

Income tax Appellate Tribunal ITAT:NR's copy-editing, proof-reading services not FTS; Sec. 195 TDS inapplicable

Oct 25, 2019

In Favour of : Assessee
Citation Number : TS-640-ITAT-2019(CHNY)

Income tax Appellate Tribunal ITAT:Upholds 'right to collect toll 'as intangible asset; Allows depreciation benefit

Oct 25, 2019

In Favour of : Assessee
Citation Number : TS-641-ITAT-2019(Mum)

Supreme Court SC:Dismisses assessee's appeal, uphold unexplained investment addition u/s 69

Oct 25, 2019

In Favour of : Revenue
Citation Number : TS-642-SC-2019

Income tax Appellate Tribunal ITAT:Rejects share-application money re-characterization as advance/loan considering transaction not sham; Follows precedents

Oct 25, 2019

In Favour of : Assessee
Citation Number : TS-643-ITAT-2019(Mum)

Weekly Digest #41 12 Oct to 18 Oct 2019 8 Rulings

High Court HC:Grants extension to State Cricket association for payment of taxes under DisputeResolution Scheme, 2016

Oct 14, 2019

In Favour of : Assessee
Citation Number : TS-611-HC-2019(BOM)

Income tax Appellate Tribunal ITAT:Repayment of loan, taken for procuring asset, not 'application' for charitable purposes

Oct 16, 2019

In Favour of : Revenue
Citation Number : TS-621-ITAT-2019(Bang)

High Court HC:No embargo u/s. 154 on power of amendment if appeal/revision is pending”

Oct 16, 2019

In Favour of : Assessee
Citation Number : TS-622-HC-2019(BOM)

Income tax Appellate Tribunal ITAT:Jurisdictional-HC decisions binding over internal CBDT guideline; Dismisses appeal on low tax effect

Oct 17, 2019

In Favour of : Assessee
Citation Number : TS-624-ITAT-2019(CHANDI)

Income tax Appellate Tribunal ITAT:DLF's overseas consultancy payments, aircraft hiring charges not liable for Sec. 195 TDS

Oct 17, 2019

In Favour of : Assessee
Citation Number : TS-625-ITAT-2019(DEL)

Income tax Appellate Tribunal ITAT:Condones appeal filing delay, cites assessee's financial crisis for belated Self Assessment Tax Payment

Oct 17, 2019

In Favour of : Assessee
Citation Number : TS-626-ITAT-2019(Ahd)

Income tax Appellate Tribunal ITAT:Deletes Sec 68 addition towards 'large share premium' receipts, 'nature & source' established

Oct 16, 2019

In Favour of : Assessee
Citation Number : TS-618-ITAT-2019(DEL)

Income tax Appellate Tribunal ITAT:Rejects taxability u/s 56 for pre-production interest income earned by Adani Group entity

Oct 18, 2019

In Favour of : Assessee
Citation Number : TS-629-ITAT-2019(Ahd)

Weekly Digest #40 05 Oct to 11 Oct 2019 6 Rulings

Income tax Appellate Tribunal ITAT:Upholds CIT(A) order disallowing LTCL claim, Genuineness of share sale transaction not substantiated

Oct 10, 2019

In Favour of : Assessee
Citation Number : TS-606-ITAT-2019(Ahd)

Income tax Appellate Tribunal ITAT:AO can't change assessee's share-valuation method for Sec. 56(2)(viib) purposes, remits matter for FMV re-computation

Oct 11, 2019

In Favour of : Both, Partially
Citation Number : TS-608-ITAT-2019(Mum)

Income tax Appellate Tribunal ITAT:Interest on borrowed loans advanced to 'related concern' allowable u/s 57(iii) citing 'commercial expediency'

Oct 10, 2019

In Favour of : Assessee
Citation Number : TS-607-ITAT-2019(JPR)

Income tax Appellate Tribunal ITAT:Mutual Fund's overseas marketing fees payment, not FTS under India-Singapore DTAA

Oct 09, 2019

In Favour of : Assessee
Citation Number : TS-604-ITAT-2019(CHNY)

Income tax Appellate Tribunal ITAT:Allows deduction u/s.37(1) on payment of foreign 'turnover taxes'

Oct 11, 2019

In Favour of : Assessee
Citation Number : TS-609-ITAT-2019(DEL)

Income tax Appellate Tribunal ITAT:Interest u/s 244A not warranted where delay in granting refund attributable to assessee

Oct 11, 2019

In Favour of : Revenue
Citation Number : TS-610-ITAT-2019(Bang)

Weekly Digest #39 28 Sep to 04 Oct 2019 10 Rulings

Income tax Appellate Tribunal ITAT:Sec.195 applicable only if income chargeable to tax in India; Deletes 40(a)(ia) disallowance

Sep 25, 2019

In Favour of : Assessee
Citation Number : TS-573-ITAT-2019(JPR)

Income tax Appellate Tribunal ITAT:Mortgaged-property sold in discharge of loan availed by group-concerns, liable for capital-gains taxation

Sep 25, 2019

In Favour of : Both, Partially
Citation Number : TS-574-ITAT-2019(CHNY)

Income tax Appellate Tribunal ITAT:Quashes reassessment proceedings, 'escaped' capital gains not chargeable to tax in subject year

Oct 03, 2019

In Favour of : Assessee
Citation Number : TS-593-ITAT-2019(DEL)

High Court HC:No TDS on interest accrued from adjudication till realisation on motor-vehicle insurance compensation

Oct 03, 2019

In Favour of : Both, Partially
Citation Number : TS-592-HC-2019(MP)

Income tax Appellate Tribunal ITAT:'Expense' set-off against unexplained income u/s 69 impermissible, Remits matter for Sec.115BBE(2) applicability to AO

Sep 26, 2019

In Favour of : Both, Partially
Citation Number : TS-580-ITAT-2019(Bang)

High Court HC:Upholds ITAT order confirming assessee-board's liability for TCS on toll fees

Oct 03, 2019

In Favour of : Revenue
Citation Number : TS-590-HC-2019(P & H)

High Court HC: Quashes show-cause notice for withholding refund u/s 241A sans return processing u/s 143(1)

Sep 20, 2019

In Favour of : Assessee
Citation Number : TS-561-HC-2019(BOM)

Income tax Appellate Tribunal ITAT:Sec.56(2)(vii)(b) not attracted where property received on family settlement

Sep 30, 2019

In Favour of : Assessee
Citation Number : TS-587-ITAT-2019(DEL)

Income tax Appellate Tribunal ITAT:Delay in possession of new residential-property, no estoppel for claiming Sec.54F exemption

Oct 04, 2019

In Favour of : Assessee
Citation Number : TS-595-ITAT-2019(PUN)

High Court HC:Philanthropic expenditure incurred pursuant to MoU with Govt., 'business expenditure' u/s 37(1)

Oct 04, 2019

In Favour of : Assessee
Citation Number : TS-599-HC-2019(KAR)

Weekly Digest #38 18 Sep to 27 Sep 2019 12 Rulings

Income tax Appellate Tribunal ITAT:Third Member - Confirms penalty levy for concealed wealth under Wealth Tax Act

Sep 24, 2019

In Favour of : Revenue
Citation Number : TS-566-ITAT-2019(ASR)

Income tax Appellate Tribunal ITAT:MCI regulations inapplicable to Pharma companies, 'Brand Reminder' expenses deductible u/s 37

Sep 19, 2019

In Favour of : Assessee
Citation Number : TS-559-ITAT-2019(Mum)

High Court HC:Dismisses taxpayer's appeal against ITAT-order denying LTCG exemption on penny stock sale

Sep 24, 2019

In Favour of : Revenue
Citation Number : TS-567-HC-2019(DEL)

Supreme Court SC:Dismisses SLP against HC-order quashing re-opening on Cyprus-entity

Sep 25, 2019

In Favour of : Assessee
Citation Number : TS-569-SC-2019

High Court HC:AO's Sec 148-objections overruling, mere communication, not an order; Dismisses assessee's writ

Sep 25, 2019

In Favour of : Revenue
Citation Number : TS-576-HC-2019(KAR)

High Court HC:Dismisses Revenue's appeal; Confirms invalidity of assessment order passed on non-existent amalgamated company

Sep 25, 2019

In Favour of : Assessee
Citation Number : TS-572-HC-2019(DEL)

Income tax Appellate Tribunal ITAT:Cash received for medical emergencies, a reasonable cause u/s 273B; Deletes Sec.271D penalty

Sep 25, 2019

In Favour of : Assessee
Citation Number : TS-575-ITAT-2019(CTK)

Income tax Appellate Tribunal ITAT:Rules Pr.CIT not justified in exercising revisionary powers u/s. 263 in case of A.R.Rahman

Sep 26, 2019

In Favour of : Assessee
Citation Number : TS-578-ITAT-2019(CHNY)

Income tax Appellate Tribunal ITAT:Partner's remuneration limits as contained in Sec. 40(b)(v), not in partnership-deed, relevant

Sep 27, 2019

In Favour of : Revenue
Citation Number : TS-581-ITAT-2019(JPR)

Income tax Appellate Tribunal ITAT:Payment towards exhibition stall constitutes 'rent', TDS u/s 194-I deductible

Sep 27, 2019

In Favour of : Revenue
Citation Number : TS-583-ITAT-2019(DEL)

Income tax Appellate Tribunal ITAT:Grants exemption to NASSCOM on subscription fees received from members, Applies mutuality principle

Sep 27, 2019

In Favour of : Assessee
Citation Number : TS-582-ITAT-2019(DEL)

High Court HC:Quashes reassessment on Vedanta Ltd initiated pursuant to Sec.201(1) order holding 'assessee in-default'

Sep 05, 2019

In Favour of : Assessee
Citation Number : TS-524-HC-2019(DEL)

Weekly Digest #37 14 Sep to 17 Sep 2019 1 Ruling

Income tax Appellate Tribunal ITAT:Imposes cost of Rs. 10,000 on assessee for irregular, unpunctual appearance before Revenue authorities

Sep 17, 2019

In Favour of : Both, Partially
Citation Number : TS-554-ITAT-2019(AGR)

Weekly Digest #36 07 Sep to 13 Sep 2019 7 Rulings

Income tax Appellate Tribunal ITAT:Deletes penalty on failure to get the books audited, cities ICAI guidelines

Sep 09, 2019

In Favour of : Assessee
Citation Number : TS-534-ITAT-2019(CHNY)

Income tax Appellate Tribunal ITAT: Disallows STCL towards forfeiture of share warrants in the hands of finance-company

Sep 11, 2019

In Favour of : Revenue
Citation Number : TS-541-ITAT-2019(CHNY)

Income tax Appellate Tribunal ITAT:Commercial space let out in mall constitutes business income, not house property

Sep 11, 2019

In Favour of : Assessee
Citation Number : TS-542-ITAT-2019(Ahd)

Income tax Appellate Tribunal ITAT:Quashes Sec.263-order in case of builder subjected to limited scrutiny on AIR basis

Sep 11, 2019

In Favour of : Assessee
Citation Number : TS-545-ITAT-2019(Mum)

Income tax Appellate Tribunal ITAT:Order passed in contravention of subsequently clarified legal position, rectifiable u/s. 154

Sep 12, 2019

In Favour of : Assessee
Citation Number : TS-549-ITAT-2019(Mum)

High Court HC:Declarations under IDS void sans complete and truthful disclosure

Sep 04, 2019

In Favour of : Revenue
Citation Number : TS-522-HC-2019(DEL)

Income tax Appellate Tribunal ITAT:Denies LTCG exemption on shares-sale; Cites assessee's failure to prove transaction genuineness

Sep 13, 2019

In Favour of : Revenue
Citation Number : TS-550-ITAT-2019(DEL)

Weekly Digest #35 31 Aug to 06 Sep 2019 4 Rulings

Income tax Appellate Tribunal ITAT:Allows assessee's 25 depreciation claim on 'golf course'; Rejects Revenue's characterization as 'building'

Sep 06, 2019

In Favour of : Assessee
Citation Number : TS-529-ITAT-2019(DEL)

Income tax Appellate Tribunal ITAT:Deletes fees levied u/s. 234E; Follows Fatheraj Singhvi ruling

Sep 06, 2019

In Favour of : Assessee
Citation Number : TS-532-ITAT-2019(DEL)

Income tax Appellate Tribunal ITAT:Rejects stamp-value based taxation u/s. 43CA pre-April'14 in the hands of builder

Sep 06, 2019

In Favour of : Assessee
Citation Number : TS-530-ITAT-2019(Mum)

High Court HC:Quashes re-opening notice issued on Marico, based on 'mere change of opinion'

Sep 05, 2019

In Favour of : Assessee
Citation Number : TS-526-HC-2019(BOM)

Weekly Digest #34 24 Aug to 30 Aug 2019 6 Rulings

Income tax Appellate Tribunal ITAT:Denies deduction for upfront fees & placement fees, liability to pay not established

Aug 27, 2019

In Favour of : Revenue
Citation Number : TS-501-ITAT-2019(DEL)

Income tax Appellate Tribunal ITAT:Allows Sec 37-deduction for freebies provided by Glenmark; MCI Guidelines not applicable to Pharma companies

Aug 30, 2019

In Favour of : Assessee
Citation Number : TS-512-ITAT-2019(Mum)

Income tax Appellate Tribunal ITAT:Cost reimbursements from Indian subsidiary, not royalty for UK parent

Aug 27, 2019

In Favour of : Assessee
Citation Number : TS-502-ITAT-2019(Mum)

High Court HC:Reverses ITAT; Taxpayer's artificial splitting of share consideration, device employed to evade taxes”

Aug 30, 2019

In Favour of : Revenue
Citation Number : TS-509-HC-2019(MAD)

High Court HC: No addition u/s 69A warranted, assessee not owner of funds but a 'conduit'

Aug 30, 2019

In Favour of : Assessee
Citation Number : TS-510-HC-2019(DEL)

Income tax Appellate Tribunal ITAT:Relies on co-ordinate bench to rule against Rolls Royce, UK on PE matter

Aug 30, 2019

In Favour of : Revenue
Citation Number : TS-514-ITAT-2019(DEL)