Direct tax Weekly Digest

Weekly Digest #28 16 Jul to 22 Jul 2016 5 Rulings

Income tax Appellate Tribunal ITAT:Interest subsidy received by PwC, a capital receipt; Ponni Sugars (SC) relied on

Jul 22, 2016

In Favour of : Assessee
Citation Number : TS-394-ITAT-2016(Kol)

Income tax Appellate Tribunal ITAT:Holds assessee's unsigned return as invalid making Sec 263 revision proceedings -void ab initio

Jul 22, 2016

In Favour of : Assessee
Citation Number : TS-396-ITAT-2016(Kol)

Income tax Appellate Tribunal ITAT:Payment for availing infrastructure facilities not works contract; TDS u/s 194C inapplicable

Jul 22, 2016

In Favour of : Assessee
Citation Number : TS-397-ITAT-2016(Kol)

High Court HC:Upholds ITAT's power to grant stay beyond 365-days; Follows Coordinate Bench rulings

Jul 22, 2016

In Favour of : Assessee
Citation Number : TS-398-HC-2016(BOM)

High Court HC:Chastises Revenue counsels laying down suggestions for appropriate representation

Jul 22, 2016

In Favour of : Assessee
Citation Number : TS-399-HC-2016

Weekly Digest #27 09 Jul to 15 Jul 2016 4 Rulings

High Court HC:Takes possession date and not agreement date for determining land's effective” holding period

Jul 13, 2016

In Favour of : Revenue
Citation Number : TS-379-HC-2016(BOM)

Income tax Appellate Tribunal ITAT:Cites Revenue's role as watch-dog & not scare-crow; Deletes automatic penalty-levy u/s271(1)(c)

Jul 15, 2016

In Favour of : Assessee
Citation Number : TS-382-ITAT-2016(Mum)

Income tax Appellate Tribunal ITAT:Rendering services within India not equivalent to export; Denies deduction u/s 10AA

Jul 15, 2016

In Favour of : Revenue
Citation Number : TS-383-ITAT-2016(CHNY)

Supreme Court SC:SC admits Revenue's SLP on taxability of lease-line charges reimbursement

Jul 15, 2016

In Favour of : Revenue
Citation Number : TS-384-SC-2016

Weekly Digest #26 02 Jul to 08 Jul 2016 6 Rulings

Supreme Court SC: Refund of excise-duty for setting up industrial undertaking not taxable as revenue receipt

Jul 08, 2016

In Favour of : Assessee
Citation Number : TS-367-SC-2016

Supreme Court SC: Refund of excise-duty for setting up industrial undertaking not taxable as revenue receipt

Jul 08, 2016

In Favour of : Assessee
Citation Number : TS-367-SC-2016

Income tax Appellate Tribunal ITAT:Allows mark to market loss on open derivative contracts

Jul 08, 2016

In Favour of : Assessee
Citation Number : TS-370-ITAT-2016(Mum)

Income tax Appellate Tribunal ITAT:Receiving communication on latest fashion trends not FTS; Deletes 40(a)(ia) disallowance

Jul 08, 2016

In Favour of : Assessee
Citation Number : TS-372-ITAT-2016(CHNY)

Income tax Appellate Tribunal ITAT:Rent receipt attributable to” Khadi Mandal's business; Grants exemption u/s 10(23B)

Jul 08, 2016

In Favour of : Assessee
Citation Number : TS-371-ITAT-2016(ASR)

Income tax Appellate Tribunal ITAT:Grants Sec.11 exemption on auditorium income applied for furtherance of assessee's objects

Jul 08, 2016

In Favour of : Assessee
Citation Number : TS-368-ITAT-2016(CHNY)

Weekly Digest #25 25 Jun to 01 Jul 2016 4 Rulings

High Court HC:Transfer-fees from outgoing member not taxable for co-operative housing society applying 'mutuality'

Jun 28, 2016

In Favour of : Assessee
Citation Number : TS-346-HC-2016(BOM)

Income tax Appellate Tribunal ITAT:Repairs & maintenance of building revenue in nature absent creation of extra capacity

Jul 01, 2016

In Favour of : Assessee
Citation Number : TS-353-ITAT-2016(DEL)

Income tax Appellate Tribunal ITAT:Renovation expenses on rented premises incurred by assessee-tenant allowable u/s 30

Jul 01, 2016

In Favour of : Assessee
Citation Number : TS-354-ITAT-2016(DEL)

Income tax Appellate Tribunal ITAT:Swapping charges on transfer of loan deductible u/s 36(1)(iii)

Jul 01, 2016

In Favour of : Assessee
Citation Number : TS-355-ITAT-2016(DEL)

Weekly Digest #24 18 Jun to 24 Jun 2016 3 Rulings

Income tax Appellate Tribunal ITAT:Loss-making units not relevant for computing Sec. 80IB deduction; Follows Delhi HC ruling

Jun 24, 2016

In Favour of : Assessee
Citation Number : TS-341-ITAT-2016(Mum)

High Court HC:Denies Sec. 80P deduction to labour cooperative society outsourcing labour work

Jun 24, 2016

In Favour of : Revenue
Citation Number : TS-342-HC-2016(P & H)

Income tax Appellate Tribunal ITAT:Amounts deposited in golaks” in Gurudwara doesn't amount to anonymous donations but charity

Jun 24, 2016

In Favour of : Assessee
Citation Number : TS-343-ITAT-2016(ASR)

Weekly Digest #23 11 Jun to 17 Jun 2016 3 Rulings

Income tax Appellate Tribunal ITAT:Penalty on undisclosed income pursuant to search leviable u/s 271AAA; Sec.271(1)(c) inapplicable

Jun 17, 2016

In Favour of : Assessee
Citation Number : TS-330-ITAT-2016(DEL)

Income tax Appellate Tribunal ITAT:Sec. 13 to be examined while granting exemption and not registration u/s12A

Jun 17, 2016

In Favour of : Assessee
Citation Number : TS-331-ITAT-2016(CHANDI)

Income tax Appellate Tribunal ITAT:Sec. 206AA can't override beneficial DTAA rates; Follows Pune ITAT ruling in Serum-Institute

Jun 17, 2016

In Favour of : Assessee
Citation Number : TS-332-ITAT-2016(CHNY)

Weekly Digest #22 04 Jun to 10 Jun 2016 4 Rulings

Income tax Appellate Tribunal ITAT:Upholds disallowance of expatriate cost charged by HO, commercial expediency not established

Jun 10, 2016

In Favour of : Both, Partially
Citation Number : TS-319-ITAT-2016(Bang)

High Court HC:Reverses ITAT, denies deduction for one-time settlement payment made to bank

Jun 10, 2016

In Favour of : Assessee
Citation Number : TS-320-HC-2016(CAL)

Income tax Appellate Tribunal ITAT:Confirms concealment penalty levy for not disclosing capital-gains, applies Mak Data (SC)

Jun 10, 2016

In Favour of : Revenue
Citation Number : TS-321-ITAT-2016(HYD)

High Court HC:Upholds rejection of revision-petition u/s 264 absent sufficient explanation for delay of 9 years

Jun 10, 2016

In Favour of : Revenue
Citation Number : TS-322-HC-2016(DEL)

Weekly Digest #21 28 May to 03 Jun 2016 3 Rulings

Income tax Appellate Tribunal ITAT:Disallows excess depreciation to the extent liability on capital asset waived subsequently

Jun 02, 2016

In Favour of : Revenue
Citation Number : TS-298-ITAT-2016(DEL)

Supreme Court SC:Admits assessee's appeal against HC-order declining intervention by way of writ against reassessment

Jun 02, 2016

In Favour of : Assessee
Citation Number : TS-300-SC-2016

Income tax Appellate Tribunal ITAT:Incentives passed on to sister concern not unreasonable”; Deletes disallowance u/s 40A(2)

Jun 03, 2016

In Favour of : Assessee
Citation Number : TS-303-ITAT-2016(Mum)

Weekly Digest #20 21 May to 27 May 2016 3 Rulings

Supreme Court SC:Permits IT-Department to take steps for recovery as assessee no more 'sick'

May 27, 2016

In Favour of : Revenue
Citation Number : TS-288-SC-2016

High Court HC:Grants 60 depreciation on LAN/WAN equipments being computers' essential part

May 23, 2016

In Favour of : Assessee
Citation Number : TS-280-HC-2016(DEL)

High Court HC:Interest u/s234A not leviable on SA tax paid before due-date of furnishing tax-return

May 27, 2016

In Favour of : Assessee
Citation Number : TS-289-HC-2016(KAR)

Weekly Digest #19 14 May to 20 May 2016 4 Rulings

Supreme Court SC:Assessee entitled to interest on refund utilised by the Revenue

May 19, 2016

In Favour of : Assessee
Citation Number : TS-277-SC-2016

High Court HC:Cost-Accountants competent to audit cooperative society's accounts; Assessee entitled to interest on refund, utilised by the Revenue u/s 244(1A)

May 19, 2016

In Favour of : Revenue
Citation Number : TS-276-HC-2016(KAR)

Income tax Appellate Tribunal ITAT:Administrative” CBDT instruction to not preclude DCIT with territorial-jurisdiction from assessing taxpayer

May 19, 2016

In Favour of : Revenue
Citation Number : TS-273-ITAT-2016(Bang)

High Court HC:Modifies earlier order in Hyosung case on AAR application maintainability

May 19, 2016

In Favour of : Assessee
Citation Number : TS-274-HC-2016(DEL)

Weekly Digest #18 07 May to 13 May 2016 3 Rulings

Income tax Appellate Tribunal ITAT:Relinquishment of rights in land not land or building; Sec. 50C inapplicable

May 13, 2016

In Favour of : Assessee
Citation Number : TS-258-ITAT-2016(Ahd)

Income tax Appellate Tribunal ITAT:Investment in stocks germane to business-transactions; Allows partners' remuneration from Sec.69 income

May 13, 2016

In Favour of : Assessee
Citation Number : TS-259-ITAT-2016(CHNY)

Income tax Appellate Tribunal ITAT:Directs strict observance of ITAT's direction; Fresh-claim in second round of appellate-proceedings impermissible

May 13, 2016

In Favour of : Assessee
Citation Number : TS-260-ITAT-2016(Mum)

Weekly Digest #17 23 Apr to 06 May 2016 5 Rulings

Income tax Appellate Tribunal ITAT:Excludes service-tax from income from house-property” absent element of income therein

May 05, 2016

In Favour of : Assessee
Citation Number : TS-243-ITAT-2016(CHANDI)

Supreme Court SC:Upholds Sec.234A/B/C interest deletion, given Revenue's failure to adjust seized cash against tax-liability

May 05, 2016

In Favour of : Assessee
Citation Number : TS-244-SC-2016

High Court HC:Allows assessee's writ; Condones 201 days' delay in filing appeal before Tribunal

May 05, 2016

In Favour of : Assessee
Citation Number : TS-245-HC-2016(MAD)

High Court HC:Proceedings u/s153A invalid absent incriminating material in each of the years” during block-assessment

May 05, 2016

In Favour of : Assessee
Citation Number : TS-246-HC-2016(DEL)

High Court HC:Receipt on cancellation of sale-deed not taxable u/s10(3) as casual and non-recurring” sum

May 06, 2016

In Favour of : Assessee
Citation Number : TS-247-HC-2016(DEL)

Weekly Digest #16 16 Apr to 22 Apr 2016 3 Rulings

Income tax Appellate Tribunal ITAT:Reimbursement of bank guarantee commission not interest; Sec 194A inapplicable

Apr 22, 2016

In Favour of : Assessee
Citation Number : TS-218-ITAT-2016(Mum)

Income tax Appellate Tribunal ITAT:No double TDS on secondment-charges” once tax withheld on Expats' salaries

Apr 22, 2016

In Favour of : Assessee
Citation Number : TS-219-ITAT-2016(Mum)

Supreme Court SC:SC dismisses Revenue's SLP; Wheeling charges neither rent nor service

Apr 22, 2016

In Favour of : Assessee
Citation Number : TS-220-SC-2016

Weekly Digest #15 08 Apr to 15 Apr 2016 2 Rulings

Income tax Appellate Tribunal ITAT:Allows assessee-bank's 60 depreciation claim; ATM machines constitutes computers

Apr 15, 2016

In Favour of : Assessee
Citation Number : TS-205-ITAT-2016(Kol)

Income tax Appellate Tribunal ITAT:Confirmation of demand u/s201 not a sole criteria for levying penalty u/s271C

Apr 15, 2016

In Favour of : Assessee
Citation Number : TS-206-ITAT-2016(Mum)

Weekly Digest #14 02 Apr to 07 Apr 2016 3 Rulings

High Court HC:Allows 80P deduction to primary agricultural credit society” registered under state law

Apr 07, 2016

In Favour of : Assessee
Citation Number : TS-183-HC-2016(KER)

Income tax Appellate Tribunal ITAT:Unabsorbed depreciation not hit by Sec 79; Allows set-off post shareholding change

Apr 05, 2016

In Favour of : Assessee
Citation Number : TS-175-ITAT-2016(Bang)

High Court HC:Payment of damages for land-encroachment by assessee-lessee admissible u/s 37(1)

Apr 06, 2016

In Favour of : Assessee
Citation Number : TS-181-HC-2016(CAL)

Weekly Digest #13 26 Mar to 01 Apr 2016 4 Rulings

High Court HC:Dismisses Revenue's appeal applying CBDT-circular specifying tax-effect, directs expeditious identification of 'pending' non-prosecutable Departmental-appeals

Mar 29, 2016

In Favour of : Assessee
Citation Number : TS-161-HC-2016(KER)

High Court HC:Settlement Commission cannot invoke Sec 154 to reopen concluded proceedings for levying Sec 234B interest

Apr 01, 2016

In Favour of : Assessee
Citation Number : TS-169-HC-2016(CAL)

High Court HC:Inability to assess AOP no basis to tax assessee-member; Deletes capital-gains addition

Apr 01, 2016

In Favour of : Assessee
Citation Number : TS-170-HC-2016(KAR)

High Court HC:Directs expeditious identification of 'pending' non-prosecutable Departmental-appeals; Applies CBDT-circular specifying tax-effect

Apr 01, 2016

In Favour of : Assessee
Citation Number : TS-171-HC-2016(KER)

Weekly Digest #12 19 Mar to 25 Mar 2016 3 Rulings

Income tax Appellate Tribunal ITAT:Stays 100 demand as an interim measure; Directs outstanding-demand adjustment against refund /TDS

Mar 24, 2016

In Favour of : Assessee
Citation Number : TS-155-ITAT-2016(Mum)

Income tax Appellate Tribunal ITAT:No income accrual due to service-recipient's precarious financial condition; Deletes income addition

Mar 24, 2016

In Favour of : Assessee
Citation Number : TS-46-ITAT-2015(Mum)

Income tax Appellate Tribunal ITAT:Cessation not equivalent to retrenchment; Denies exemption u/s 10(10B)

Mar 24, 2016

In Favour of : Revenue
Citation Number : TS-156-ITAT-2016(JPR)

Weekly Digest #11 15 Mar to 18 Mar 2016 4 Rulings

Income tax Appellate Tribunal ITAT:Sale-deed execution date, not consideration-receipt date, relevant for making Sec 54EC capital-gains investment

Mar 18, 2016

In Favour of : Revenue
Citation Number : TS-136-ITAT-2016(Bang)

Supreme Court SC:Dismisses Shibu Soren's SLP, HC had struck down ITAT order quashing block assessment

Mar 18, 2016

In Favour of : Revenue
Citation Number : TS-138-SC-2016

Income tax Appellate Tribunal ITAT: Consideration of providing engineering/designing work, not FIS under India-US DTAA

Mar 18, 2016

In Favour of : Assessee
Citation Number : TS-139-ITAT-2016(Mum)

Income tax Appellate Tribunal ITAT:Discounting charges received from Indian AE, not assessable as 'interest'

Mar 18, 2016

In Favour of : Assessee
Citation Number : TS-137-ITAT-2016(DEL)

Weekly Digest #10 05 Mar to 14 Mar 2016 3 Rulings

Income tax Appellate Tribunal ITAT:Rejects developer's deduction claim u/s 80(IB)(10); Accords strict interpretation to the term one acre”

Mar 11, 2016

In Favour of : Revenue
Citation Number : TS-119-ITAT-2016(PUN)

Income tax Appellate Tribunal ITAT:Sale of machine alongwith operating-software, not royalty under Indo-Israel DTAA

Mar 11, 2016

In Favour of : Assessee
Citation Number : TS-122-ITAT-2016(Mum)

Supreme Court SC:SC modifies HC order with respect to de-novo adjudication on Sec 54F exemption claim

Mar 11, 2016

In Favour of : Assessee
Citation Number : TS-45-SC-2015

Weekly Digest #9 27 Feb to 04 Mar 2016 3 Rulings

Supreme Court SC:Excludes 'scrap-sale' from 'total-turnover' while computing Sec 80HHC deduction; Follows Punjab Stainless (SC)

Mar 04, 2016

In Favour of : Assessee
Citation Number : TS-109-SC-2016

Income tax Appellate Tribunal ITAT:Deletes Sec 14A disallowance, accepts sufficient own funds” plea

Mar 04, 2016

In Favour of : Assessee
Citation Number : TS-108-ITAT-2016(CHNY)

Income tax Appellate Tribunal ITAT:Evaluating entitlement for refund u/s240, not mistake apparent from record; Quashes rectification u/s 154

Mar 04, 2016

In Favour of : Assessee
Citation Number : TS-44-ITAT-2015(Mum)