Weekly Digest
Income tax Appellate Tribunal
ITAT:Allows smart cards preparation expenditure by TPA as revenue absent enduring benefit
Jul 25, 2014
- In Favour of : Assessee
- Citation Number : TS-448-ITAT-2014(PUN)
Income tax Appellate Tribunal
ITAT:No concealment penalty for Salman Khan on black buck poaching case legal expenses
Aug 01, 2014
- In Favour of : Assessee
- Citation Number : TS-466-ITAT-2014(Mum)
Income tax Appellate Tribunal
ITAT:AO an adjudicator & investigator; Upholds Sec 263 order, absent Sec 10B eligibility inquiry
Jul 30, 2014
- In Favour of : Revenue
- Citation Number : TS-458-ITAT-2014(PAN)
High Court
HC:Holds income from sub-letting of leased property as ‘business income’, not IOS
Aug 01, 2014
- In Favour of : Assessee
- Citation Number : TS-467-HC-2014(KAR)
Income tax Appellate Tribunal
ITAT:Quashes penalty for concealment of wealth absent clear case of default
Jul 30, 2014
- In Favour of : Assessee
- Citation Number : TS-459-ITAT-2014(Bang)
Income tax Appellate Tribunal
ITAT:After Mumbai, Pune ITAT grants stay extension beyond 365 days
Aug 01, 2014
- In Favour of : Assessee
- Citation Number : TS-468-ITAT-2014(PUN)
High Court
HC:Resuming Sec 158BFA penalty proceedings based on additions deleted by CIT(A), unlawful
Jul 25, 2014
- In Favour of : Both, Partially
- Citation Number : TS-447-HC-2014(AP)
Income tax Appellate Tribunal
ITAT:‘Donation’ of shares is ‘gift’, holds sale as LTCG applying Sec 49(1)
Jul 24, 2014
- In Favour of : Assessee
- Citation Number : TS-445-ITAT-2014(DEL)
Income tax Appellate Tribunal
ITAT:Interest on Govt grant temporarily invested non-taxable
Jul 25, 2014
- In Favour of : Assessee
- Citation Number : TS-449-ITAT-2014(Ahd)
High Court
HC:Revenue from supply of equipment not Royalty; No transfer of rights included
Jul 25, 2014
- In Favour of : Assessee
- Citation Number : TS-450-HC-2014(BOM)
High Court
HC:Allows assessee’s supplementary refund claim, rejects application of ‘non-existing’ Circular 670
Jul 17, 2014
- In Favour of : Assessee
- Citation Number : TS-424-HC-2014(BOM)
High Court
HC:Permits rectification recourse u/s 254 based on SC's subsequent interpretation of law
Jul 17, 2014
- In Favour of : Assessee
- Citation Number : TS-422-HC-2014(ALL)
Income tax Appellate Tribunal
ITAT:Proof beyond doubt necessary for establishing 'reasonable cause' u/s 273B; Confirms Sec 271D penalty
Jul 18, 2014
- In Favour of : Revenue
- Citation Number : TS-428-ITAT-2014(COCH)
High Court
HC:Allows severance pay amortization u/s 35DDA absent cessation of manufacturing activity
Jul 18, 2014
- In Favour of : Assessee
- Citation Number : TS-429-HC-2014(BOM)
High Court
HC: Allows employee PF deduction applying Sec 43B, follows Alom Extrusions ruling
Jul 17, 2014
- In Favour of : Assessee
- Citation Number : TS-423-HC-2014(BOM)
Income tax Appellate Tribunal
ITAT:Withdrawal of recovery suit does not imply debt recovery, allows bad-debt claim
Jul 18, 2014
- In Favour of : Assessee
- Citation Number : TS-430-ITAT-2014(Mum)
High Court
HC:Willingness to pay arrears only condition for Kar-Vivad Scheme application, extends benefit
Jul 18, 2014
- In Favour of : Assessee
- Citation Number : TS-431-HC-2014(AP)
Income tax Appellate Tribunal
ITAT:Capital gains investment in ‘Singaporean’ house, no bar to claim Sec. 54 relief
Jul 04, 2014
- In Favour of : None/NA
- Citation Number : TS-396-ITAT-2014(CHNY)
High Court
HC:Liabilities recorded by way of journal entries clearly outside Sec 269SS ambit
Jul 04, 2014
- In Favour of : Assessee
- Citation Number : TS-395-HC-2014(DEL)
Income tax Appellate Tribunal
ITAT:TDS u/s 194C applicable on payment for 'software development' in packaged form
Jul 11, 2014
- In Favour of : None/NA
- Citation Number : TS-411-ITAT-2014(HYD)
Income tax Appellate Tribunal
ITAT: Denies ‘interest on interest’ claim; Follows Gujarat Fluoro ratio
Jul 09, 2014
- In Favour of : Revenue
- Citation Number : TS-410-ITAT-2014(COCH)
Income tax Appellate Tribunal
ITAT:Company, a juridical entity, not eligible for Sec 24(b) residential property interest deduction
Jul 04, 2014
- In Favour of : Revenue
- Citation Number : TS-398-ITAT-2014(Mum)
High Court
HC:AO withheld amount without jurisdiction, but rejects assessee's interest plea absent 'malafide'
Jul 04, 2014
- In Favour of : Revenue
- Citation Number : TS-399-HC-2014(UTT)
Income tax Appellate Tribunal
ITAT:Proportionate, not full FTC available under Art 23 of India – Thailand DTAA
Jul 02, 2014
- In Favour of : None/NA
- Citation Number : TS-389-ITAT-2014(Kol)
High Court
HC:Quashes Revenue's 'arbitrary', non-judicious order u/s 201(1); Assessee entitled to appeal remedy
Jun 26, 2014
- In Favour of : Assessee
- Citation Number : TS-377-HC-2014(KAR)
High Court
HC:Wide 'discretionary' powers conferred on Settlement Commission; Limited interference scope for Courts
Jun 26, 2014
- In Favour of : Assessee
- Citation Number : TS-379-HC-2014(AP)
High Court
HC:Confirms ITAT order; Interest income on NPAs not assessable on accrual basis
Jun 26, 2014
- In Favour of : Assessee
- Citation Number : TS-380-HC-2014(BOM)
High Court
HC:Quashes non-resident’s re-assessment on change of opinion on share transaction taxability
Jun 18, 2014
- In Favour of : Assessee
- Citation Number : TS-363-HC-2014(GUJ)
High Court
HC:Denies Sec 80HHC deduction on interest income; No conflict in coordinate bench rulings
Jun 17, 2014
- In Favour of : Revenue
- Citation Number : TS-360-HC-2014(BOM)
High Court
HC:Forex gain from repatriation of Euro-note proceeds a non taxable capital receipt
Jun 19, 2014
- In Favour of : Assessee
- Citation Number : TS-364-HC-2014(BOM)
Income tax Appellate Tribunal
ITAT:New 'lift’ at residence aides Javed Akhtar's profession; Installation expenses deductible
Jun 19, 2014
- In Favour of : Assessee
- Citation Number : TS-366-ITAT-2014(Mum)
Income tax Appellate Tribunal
ITAT:Casts 'burden' of TDS - 26AS mismatch on Revenue, overturns TDS credit denial
Jun 09, 2014
- In Favour of : Assessee
- Citation Number : TS-340-ITAT-2014(Mum)
Income tax Appellate Tribunal
ITAT:Confirms senior officer's powers to complete assessment initiated by junior, vice-versa impermissible
Jun 12, 2014
- In Favour of : Assessee
- Citation Number : TS-349-ITAT-2014(LKW)
Income tax Appellate Tribunal
ITAT:Use of vehicle as bailor does not satisfy ownership test; Depreciation disallowed
Jun 12, 2014
- In Favour of : Revenue
- Citation Number : TS-350-ITAT-2014(LKW)
Income tax Appellate Tribunal
ITAT:Upholds Sec 14A disallowance; Managing surplus funds important ‘finance function’, requires 'big' efforts
Jun 12, 2014
- In Favour of : Revenue
- Citation Number : TS-351-ITAT-2014(CHANDI)
Income tax Appellate Tribunal
ITAT:Upholds non-accrual of interest income on NPAs; Follows coordinate bench in Omega
Jun 13, 2014
- In Favour of : Assessee
- Citation Number : TS-352-ITAT-2014(PUN)
High Court
HC:TDS applicability on wheeling charges dependent on 'human intervention'; Follows Bharti Cellular
Jun 13, 2014
- In Favour of : None/NA
- Citation Number : TS-354-HC-2014(P & H)
Income tax Appellate Tribunal
ITAT:Sec 40(a)(ia) not invokable for expenditure not debited to P&L account
Jun 05, 2014
- In Favour of : Assessee
- Citation Number : TS-330-ITAT-2014(HYD)
Income tax Appellate Tribunal
ITAT:No FBT on reimbursement of market support service, absent benefit to employees
Jun 05, 2014
- In Favour of : Assessee
- Citation Number : TS-331-ITAT-2014(PUN)
High Court
HC:Expense on reconditioning & overhauling buses held revenue, absent fresh advantage / enduring benefit
Jun 05, 2014
- In Favour of : Assessee
- Citation Number : TS-333-HC-2014(KAR)
Income tax Appellate Tribunal
ITAT:Renovation of leased building revenue expense; Sec. 32 Explanation not attracted
Jun 05, 2014
- In Favour of : Assessee
- Citation Number : TS-335-ITAT-2014(Mum)
Income tax Appellate Tribunal
ITAT:Bringing income to tax not remedy for Sec. 13/11 violation; Sec. 11 exemption denied
May 30, 2014
- In Favour of : None/NA
- Citation Number : TS-318-ITAT-2014(HYD)
High Court
HC:Rejects assessee's 'belated' attempt to appeal citing favourable decision in another case
May 30, 2014
- In Favour of : Revenue
- Citation Number : TS-315-HC-2014(DEL)
Income tax Appellate Tribunal
ITAT:Offshore contract income not taxable in India, absent PE connection; Ishikawajima relied
May 30, 2014
- In Favour of : None/NA
- Citation Number : TS-317-ITAT-2014(HYD)
High Court
HC:Directs AAR to re-determine AOP’s existence in CTCI’s case applying Linde ruling
May 30, 2014
- In Favour of : None/NA
- Citation Number : TS-316-HC-2014(DEL)
Income tax Appellate Tribunal
ITAT:TDS u/s 194C/194J not applicable on wheeling charges paid to MSEB
May 22, 2014
- In Favour of : Assessee
- Citation Number : TS-295-ITAT-2014(PUN)
High Court
HC:Change in business irrelevant, common management decisive for brought forward loss claim
May 23, 2014
- In Favour of : Assessee
- Citation Number : TS-299-HC-2014(ALL)
Income tax Appellate Tribunal
ITAT:Carriage ‘ownership’, not actual operations, relevant for Sec 44AE presumptive rate
May 23, 2014
- In Favour of : None/NA
- Citation Number : TS-298-ITAT-2014(CHNY)
Supreme Court
SC:Dismisses assessee’s SLP; Sec 148 reassessment notice issued by non-jurisdictional AO valid
May 23, 2014
- In Favour of : Revenue
- Citation Number : TS-297-SC-2014
Authority for Advance Rulings
AAR:Remuneration to Sri Lankan sales executive not FTS, not taxable in India
May 23, 2014
- In Favour of : Assessee
- Citation Number : TS-301-AAR-2014
High Court
HC:Exim policy ‘deemed export’ inapplicable for Sec 10B claim; Confirms Sec 271(1)(c) penalty
May 23, 2014
- In Favour of : Revenue
- Citation Number : TS-302-HC-2014(DEL)
High Court
HC:Allows Sec. 80HHC deduction despite Sec. 10A relief on exports from FTZ
May 09, 2014
- In Favour of : Assessee
- Citation Number : TS-269-HC-2014(BOM)
High Court
HC:Sec 41(1) inapplicable to write back of provision created in tax exemption year
May 16, 2014
- In Favour of : Assessee
- Citation Number : TS-281-HC-2014(GUJ)
Income tax Appellate Tribunal
ITAT:Revised Dept appeals monetary threshold applicable to pending cases, follows Delhi HC ruling
May 16, 2014
- In Favour of : Assessee
- Citation Number : TS-282-ITAT-2014(JODH)
Income tax Appellate Tribunal
ITAT:Computation of holding period u/s 2(42A) includes share purchase date; Exempts LTCG u/s 10(36)
May 16, 2014
- In Favour of : Assessee
- Citation Number : TS-283-ITAT-2014(Kol)
Income tax Appellate Tribunal
ITAT:Assessee’s accounts cannot determine income accrual, no tax liability on hypothetical income
May 16, 2014
- In Favour of : Assessee
- Citation Number : TS-284-ITAT-2014(PUN)
High Court
HC:Allows business deduction of temporarily terminated project's expenses absent total business discontinuance
May 09, 2014
- In Favour of : Assessee
- Citation Number : TS-261-HC-2014(BOM)
High Court
HC:AO’s prior satisfaction must for Sec. 153C proceedings; Applies Calcutta Knitwears ratio
May 09, 2014
- In Favour of : Assessee
- Citation Number : TS-262-HC-2014(ALL)
Income tax Appellate Tribunal
ITAT:Tenancy rights cost should be considered while computing acquisition cost u/s 48/49
May 09, 2014
- In Favour of : None/NA
- Citation Number : TS-263-ITAT-2014(Mum)
Income tax Appellate Tribunal
ITAT:AO to consider all Sec. 244A interest rulings, without restricting to 'Gujarat Flouro'
May 09, 2014
- In Favour of : None/NA
- Citation Number : TS-264-ITAT-2014(Mum)
High Court
HC:Arbitrator determined non-compete fee / loss of income source compensation, non-taxable capital receipt
May 09, 2014
- In Favour of : Assessee
- Citation Number : TS-265-HC-2014(KAR)
Income tax Appellate Tribunal
ITAT:Upholds ULIP-based Keyman insurance policy premium disallowance; Pure life plan must
May 02, 2014
- In Favour of : Revenue
- Citation Number : TS-243-ITAT-2014(ASR)
High Court
HC: Specialized SIM-card supply without supplying material, not ‘work’ even pre-2009 Sec 194C amendment
May 02, 2014
- In Favour of : Assessee
- Citation Number : TS-244-HC-2014(KAR)
High Court
HC:Expresses shock on ITAT proceeding with appeal despite assessee’s death, cautions Registry
May 02, 2014
- In Favour of : None/NA
- Citation Number : TS-245-HC-2014(BOM)
High Court
HC:Cautions ITAT on rectifying CIT’s administrative non-appealable order u/s. 119
May 02, 2014
- In Favour of : Revenue
- Citation Number : TS-246-HC-2014(GUJ)
High Court
HC:Warns Revenue for stating patently false statements in appeal-memo; Revenue not special litigant
May 02, 2014
- In Favour of : None/NA
- Citation Number : TS-248-HC-2014(BOM)
High Court
HC:Revenue officials, apart from DR, also responsible for appeal filing delay
May 02, 2014
- In Favour of : None/NA
- Citation Number : TS-247-HC-2014(BOM)
Supreme Court
SC:Dismisses Revenue’s SLP; New unit independent of existing unit for 80IB purpose, held HC
May 02, 2014
- In Favour of : None/NA
- Citation Number : TS-249-SC-2014
High Court
HC:Revenue officials, apart from DR, also responsible for appeal filing delay
May 02, 2014
- In Favour of : None/NA
- Citation Number : TS-247-HC-2014(BOM)
Supreme Court
SC:Dismisses Revenue’s SLP; New unit independent of existing unit for 80IB purpose, held HC
May 02, 2014
- In Favour of : None/NA
- Citation Number : TS-249-SC-2014
High Court
HC:No Sec 263 jurisdiction on NTPC's bonafide revenue estimate pending CERC regulation revision
Apr 25, 2014
- In Favour of : Assessee
- Citation Number : TS-225-HC-2014(DEL)
Income tax Appellate Tribunal
ITAT:Incidental observation on income taxability year not 'finding'/ 'direction' enabling reassessment
Apr 25, 2014
- In Favour of : Assessee
- Citation Number : TS-227-ITAT-2014(Mum)
Income tax Appellate Tribunal
ITAT:Rejects unsubstantiated pre set-up business loss; Reiterates non-allowability of pre set-up expenditure
Apr 25, 2014
- In Favour of : Revenue
- Citation Number : TS-228-ITAT-2014(Mum)
Income tax Appellate Tribunal
ITAT:Medical reimbursement not fringe benefit u/s 115WB, Circular 8/2005 contradicts legislative intent
Apr 25, 2014
- In Favour of : Assessee
- Citation Number : TS-229-ITAT-2014(Mum)