1489 30 june 2016
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This document provides a summary of recent legal landmarks from various tax authorities in India. It lists 6 cases from authorities such as the AHD ITAT, DEL ITAT, MUM ITAT, and ALRT ITAT. Each case listing includes the authority, relevant section/rules, ratio or key consideration from the case, citation or subject matter, and name of the assessed party. The cases covered rulings on issues like unexplained payments, rejection of books of accounts, accrual of income, assessment orders, transfer pricing adjustments, and treatment of certain receipts under tax treaties.
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This document provides a summary of recent legal landmarks from various High Courts in India. It includes 6 cases with details of the section/rules and ratios involved. The first case from the Punjab and Haryana High Court determined that the timing of funds introduced to a company is irrelevant under section 68. The second from the Allahabad High Court upheld a reassessment notice issued within 6 years as permitted by section 149(1)(b). The third from the Gujarat High Court removed an addition made in a regular assessment that had already been deleted in appellate proceedings for the block assessment.
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The document provides a summary of recent legal landmarks related to taxation in India. It lists 6 cases with details of the authority, section/rules discussed, key ratio or reasoning from the case, and case name. The cases covered topics like additions of bogus purchases, assessment orders without supplying documents, transfer pricing adjustments, capital gains exemption, unexplained investments, and principles of natural justice in settlement orders.
844 1 sep_2014
This document provides a summary of recent legal landmarks related to taxation in India. It lists 6 cases with details of the authority, section/rules discussed, ratio or key consideration, and case name. Some of the cases covered include:
1) A Mumbai tribunal case allowing depreciation on a revalued asset to be transferred to a successor as it was previously allowed to the predecessor.
2) A Gujarat High Court case finding that a director is not liable for unpaid company taxes if the non-recovery is not due to gross negligence of the director.
3) A Delhi High Court case treating disclosure of bank accounts prior to a search as not an admission of undisclosed income.
816 30 july_2014
This document lists recent legal landmarks from various authorities in India. It includes 6 rulings covering a range of tax issues:
1. The Punjab and Haryana High Court ruled that registration of a trust cannot be denied solely due to the educational institution receiving minority status.
2. The Chennai Income Tax Appellate Tribunal said transactions between two years arising from the same agreement should be treated consistently.
3. The Madras High Court allowed foreign travel expenses of a firm partner's wife as she traveled for business purposes.
4. The Delhi High Court held that loss from assigning rights to receive Iraqi debt in exchange for Indian government bonds was not a capital loss.
5. The Mumbai Income Tax
730 19 april_2014
This document provides a summary of recent legal landmarks across various high courts and tribunals in India. It lists 6 cases covering topics such as:
1. The levy of penalty where the assessee voluntarily surrendered long term capital gains prior to a section 148 notice.
2. Whether a section 14A disallowance can be made without determining the purpose of an investment generating exempt income.
3. Whether cash received by retiring partners represented capital gains or income.
4. Whether the deletion of an income addition on pure findings of fact raises a substantial question of law.
5. Whether an appeal order should wait for the disposal of a pending SLP on the same question of law.
770 6 june_2014
This document provides a summary of recent legal landmarks across various authorities and courts in India. It lists 6 cases covering topics such as deduction of advances under section 36(1)(vii), disallowance under section 14A, appropriate transfer pricing method under section 92C, deemed dividend under section 2(22), capital gains on conversion of capital asset to stock-in-trade under section 45(2), and stay of demand during an appeal under section 254. Each case provides the citation, authority or court, relevant section/rules, and ratio or key points of the ruling.
780 18 june_2014
1. The document provides a summary of recent legal landmarks across various authorities and high courts in India.
2. It lists 6 cases, with details of the section/rules and ratios involved. The first case discusses working capital adjustments in transfer pricing cases. The second case concerns whether merely being a lifelong member of a trust implies it is non-charitable. The third case is about denial of trust registration solely based on seized documents about capitation fees.
3. The remaining cases cover issues like carrying forward income by charitable trusts, differences between portfolio management and investment advisory services, and condonation of delay in filing an appeal due to employee resignation.
749 13 may_2014
This document provides a summary of recent legal landmarks across various tax authorities in India. It lists 6 rulings covering topics such as:
1) The exemption on succession of a firm by a company was not allowed where partners received consideration in the form of loans instead of share capital.
2) Property occupied for business purposes but not utilized for running business would be taxed as per residential property income tax provisions.
3) Disallowance cannot be made for non-deduction of tax on payments to non-resident entities without a permanent establishment in India.
4) Reassessment was invalid where the matter was already subject to block assessment and outside the authority's jurisdiction.
5) Expenses on
1485 25 june 2016
This document provides a summary of recent legal landmarks in India across various tax authorities and high courts. It includes 6 cases covering topics like transfer pricing adjustments, assessment procedures, exemption from capital gains tax, permanent establishment, and deemed income. Each case summary includes the authority, relevant section/rules, key ratio or principle from the ruling, case citation, and name of the assessee involved.
846 3 sep_2014
This document provides a summary of recent legal landmarks related to taxation in India. It lists 6 cases from various High Courts and Income Tax Appellate Tribunals across India. Each case listing includes the authority, section/rules of the Indian Income Tax Act under consideration, a brief ratio or reasoning from the case, and citation details including the name of the assessed party. The cases cover topics around taxation of gains from land sales, deductibility of disputed damages, source of investment disclosures, taxability of property rental income, classification of income as business or capital gains, and periods for classifying share dealings as capital gains.
785 24 june_2014
This document provides a summary of recent legal landmarks across various authorities and courts in India. It lists 6 cases with details of the authority, section/rules of the Indian Taxation Act (ITA) involved, key ratios or rulings from the case, citation and subject details. Specifically, it discusses cases related to sections 10A (deduction for income of 100% Export Oriented Unit established in SEZ), 9 (deemed income from sales incentives treated as Permanent Establishment), 194LA (scope of "any other mode" for TDS purposes) and others.
784 23 june_2014
This document provides a summary of recent legal landmarks in various tax cases:
1. The Supreme Court ruled that a company that paid dividend distribution tax on dividends declared at an AGM could not also be held liable under section 115-O.
2. The Pune Income Tax Appellate Tribunal ruled that a company cannot be considered a persistent loss-making entity, and excluded from comparability analysis, if it earned a profit in one of the last three years.
3. The Bombay High Court ruled that rental income received by individual partners from a tenancy belonging to them personally could not be added to the income of an assessee firm.
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1489 30 june 2016
- 1. VOLUME NO.: LLAT/1489 OF 2016-17 DATE: 30 June 2016 _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Dear Client, We have pleasure in listing below some of the recent legal landmarks. SrNo Authority Section/Rules RATIO(S) Citation /Subject CASE(NAME OF ASSESSEE) 1.1 AHD ITAT 69 ITA VCD was found in which A paid money to a witness for becoming hostile and consequently AO treated said amount as unexplained payment but did not corroborate said transaction by any other evidence action of AO was not justified. 1.2 68TM198 Unexplained investment Mahendrabhai B. Shrivastav 2.1 DEL ITAT 145 ITA Books of accounts were incorrectly rejected without holding that the books of account was incorrect or incomplete or correct profits could not be deduced. 2.2 ITA No 2043_2013 Accounting method Samwon Precision Mould Mfg. (India) P. Ltd. 3.1 MUM ITAT 4 5 ITA Accrual of income does not arise where debtor is in a precarious financial position and recovery is doubtful. 3.2 ITA No 39_2007 Accrual Income Bechtel International Inc 4.1 ALRT ITAT 143(3) ITA Assessment order passed ex-parte by AO was in violation of specific CBDT Instruction and the same is not legally sustainable. 4.2 ITA No 87_2016 Assessment Gurpreet Kaur 5.1 DEL ITAT 92C ITA T.P.O. made T.P. addition treating export as of normal stock but himself had not disputed classification of goods as old stocks addition made was to be deleted. 5.2 68TM096 Transfer Pricing Adidas India Marketing (P.) Ltd 6.1 DEL ITAT 9 ITA Since training to employees of end users of software sold by A for which consideration had been received was ancillary to sale of software; it was to be treated as business receipts under article 7 of DTAA between India and U.K. 6.2 68TM097 Deemed income Datamine International Ltd.