Category Archives: Income Tax Judgments

No Time limit for making 27C declaration u/s 206C(1A) : ITAT

By | May 22, 2020

IN THE ITAT JAIPUR BENCH ‘A’ Eid Mohammad Nizamuddin v. Income Tax-officer SANDEEP GOSAIN, JUDICIAL MEMBER AND VIKRAM SINGH YADAV, ACCOUNTANT MEMBER IT APPEAL NOS. 422 TO 424, 776 TO 778/JP/2018 [ASSESSMENT YEARS 2013-14 TO 2015-16] APRIL  15, 2020 Mahendra Gargieya, Adv. for the Appellant. K.C. Gupta for the Respondent. ORDER   Vikram Singh Yadav, Accountant Member – These are… Read More »

Assessee allowed to raise grounds before ITAT even if no cross objection filed before CIT(A) : HC

By | May 19, 2020

HIGH COURT OF DELHI Sanjay Sawhney v. Principal Commissioner of Income-tax VIPIN SANGHI AND SANJEEV NARULA, JJ. IT APPEAL NO. 834 OF 2019 MAY  18, 2020 S. Krishnan, Adv. for the Appellant. Zoheb Hossain for the Respondent. JUDGMENT   Sanjeev Narula, J. – The present appeal under section 260A of the Income Tax Act, 1961 (‘the Act’) is directed against the… Read More »

60% Depreciation allowed on Set Top Boxes : ITAT

By | May 17, 2020

60% Depreciation allowed on Set Top Boxes : ITAT we have no hesitation to hold that the transaction in the present case is that of a loan/Finance. After going through the various terms of the deed, we find that the only role of the lessor in the present arrangement is to finance the transaction of… Read More »

Amount collected for Building Development Fund from students is capital receipt , not taxable : ITAT

By | May 17, 2020

Amount collected for Building Development Fund from students is capital receipt,not taxable : ITAT sample copies of the receipts issued from which it was evident that the contributions to ‘Development Fund’ were not collected on monthly basis along with tuition fees for the month but the students paid contributions to Development Fund at their own… Read More »

Interest Exp disallowed if Sales to sister concern and amount not realized : HC

By | May 17, 2020

Interest Exp disallowed if Sales to sister concern and amount not realized : HC However, in the instant case, the Assessing Authority, by an order dated 31-3-2000 has held that the assessee mainly supplies its finished products to its sister concern namely M/s. Canara Wood and Plywood Pvt. Ltd. Mangalore, which is engaged in the… Read More »

No Dis allowance u/s 40(a) of Surcharge on sales tax and turnover tax as it is not a ‘fee or charge’ : HC

By | May 17, 2020

No Dis allowance u/s 40(a) of Surcharge on sales tax and turnover tax as it is not a ‘fee or charge’ : HC HIGH COURT OF KERALA Kerala State Beverages (Manufacturing and Marketing) Corporation Ltd. v. Assistant Commissioner of Income Tax C. K. ABDUL REHIM AND T.V. ANILKUMAR, JJ. IT APPEAL NOS. 135, 146 & 313 OF… Read More »

SLP dismissed due to Low Tax Effect : SC

By | May 17, 2020

SLP dismissed due to Low Tax Effect : SC SUPREME COURT OF INDIA Principal Commissioner of Income-tax – 1 v. Amantha Healthcare Ltd. ROHINTON FALI NARIMAN AND S. RAVINDRA BHAT, JJ. SPECIAL LEAVE PETITION (CIVIL) DIARY NO. 37344/2019 NOVEMBER  22, 2019 Ms. Anita Sahni, Zoheb Hossain, Ms. Vishakha Advs. and Mrs. Anil Katiyar, AOR for the Petitioner. ORDER   1. Delay condoned. 2. The special… Read More »

Fresh Reassessment notice issued after removing technical defects is valid : HC

By | May 17, 2020

Fresh Reassessment notice issued after removing technical defects is valid : HC The respondents are not precluded from invoking section 148 of the Income-tax Act, 1961 for the 2nd time as the issue as to whether income had escaped assessment or not was decided by the Commissioner of Income-tax (Appeals) on merits. It was pointed… Read More »

No reassessment if amount assessed in Block assessment u/s 158BC and regular Assessment u/s 143 : HC

By | May 17, 2020

No reassessment if amount assessed in Block assessment u/s 158BC and regular Assessment u/s 143 : HC In the present case, the assessing officer in the course of regular assessment had in fact asked for information in relation to this very amount of Rs. 10.33 Crores. This information was duly furnished by the petitioners. Only… Read More »

No Reassessment if Assessee did not receive Loan but its sister concern received loan : HC

By | May 14, 2020

No Reassessment if Assessee did not receive Loan but its sister concern received loan Thus, it is evident that in the facts of the said case: (i) the petitioner company had obtained a loan from a company in which it had shareholding not less than 10 per cent of the voting power. While the loan… Read More »