Summary : Information seeker is a person who is totally stranger in blood or marital relationship to the person whose information he wants to lay his hands on. It would have been a different matter, had the information been sought by the wife of the petitioner in order to support her contention in a litigation,… Read More »
Case Name : Meena Krishna Agarwal Vs Assistant Commissioner (Gujarat High Court) Appeal Number : Special Civil Application No. 3969 of 2014 Date of Judgement/Order : 15/01/2018 Decision summary :- “If the petitioner is correct in contending that all the four immovable properties were purchased by her from her own source of income, the department cannot… Read More »
Advance knowledge of tax liability is factor in determining penalty The High Court of Delhi dismissed an appeal on the simultaneous levy of penalties, with the court observing that advance knowledge of the tax liability was a factor to consider in determining the penalty liability. Whenever any Tax is not paid intentionally then the penalty… Read More »
Exemption notification to be interpreted strictly The Constitutional Bench (five-judge bench) of the Supreme Court held that: (1) exemption from tax guidance is to be interpreted strictly and the burden to prove its applicability is on the taxpayer; (2) any ambiguity in the exemption guidance must be interpreted in favour of the tax department; and… Read More »
CESTAT, NEW DELHI BENCH Text Hundred India (P.) Ltd v. Commissioner of Service Tax, Delhi S. K. MOHANTY, JUDICIAL MEMBER AND V. PADMANABHAN, TECHNICAL MEMBER FINAL ORDER NO. 51706 OF 2018 STA NO. 1477 OF 2011 APRIL 25, 2018 Bharat Bhushan, Adv. for the Appellant. Sanjay Jain, AR (DR) for the Respondent. ORDER S.K. Mohanty, Judicial Member – This appeal… Read More »
HIGH COURT OF UTTARAKHAND Commissioner, commercial Tax, Uttarakhand v. Jai Durge K.M. JOSEPH, CJ. AND SHARAD KUMAR SHARMA, JJ. COMMERCIAL TAX REVISION NO. 24 OF 2010 APRIL 10, 2018 Mohit Maulekhi, Brief Holder for the Appellant. S.K. Posti, Adv. for the Respondent. ORDER K. M. Joseph, C.J. – The revisionist called in question the order dated 01-06-2009 passed by the… Read More »
Assessee Contention Appellant has got copyright over the photographs which are visible on its website and hence, the appellant charges the amount for copyright. The submission was that as the amount charged is for copyright, it will not be a service rendered falling under the category “Online Information and Database Access or Retrieval”. Held :… Read More »
Government authorisations (or approvals) are not eligible for depreciation The Delhi Bench of the Income-tax Appellate Tribunal held that government authorisations or approvals are not licenses or rights having a business or commercial nature that, in turn, could be transferred to the taxpayer. Therefore, depreciation is not allowed on the value assigned such government authorisations. The tribunal also… Read More »
Held A person could be in possession of undisclosed income not only in his or her own account but in someone else’s account. In the context of the present petitions, therefore, when pursuant to the search warrant, the Department proceeded to search and seize not only valuable things etc. found in the premises of Mr.… Read More »
The Mumbai Bench of the Income-tax Appellate Tribunal held that amounts received by the taxpayer as reimbursements of training-related travel expenses, group health insurance, and other incidental expenses under a technical service agreement were not taxable as fees for technical services. Relying in part on the transfer pricing study and transfer pricing order, the tribunal… Read More »
ITAT Mumbai DCIT Vs Ateev V. Gala Appeal Number : ITA NO.1906/Mum/2014 Date of Judgement/Order : 19/04/2017 Related Assessment Year : 2010-11 Issue Whether gift received from HUF by a member of HUF falls under the definition of “relative” as provided in the Explanation to clause (vi) of sub section (2) of section 56 of… Read More »
Unrealised foreign exchange loss, loan to purchase of assets in India The Chennai Bench of the Income Tax Appellate Tribunal held that an unrealised foreign exchange loss on a loan obtained for the purpose of asset purchases was a “revenue loss” and therefore was allowable as deduction. The case is: Hyundai Motor India Ltd. Read a May… Read More »
Income from sub-licensing of property, held not business income The Supreme Court of India addressed the character of income from the sub-lisensing of retail property, and held that such income was taxable as “house property” income and not business income. The case is: Raj Dadarkar and Associates. Read a May 2017 report [PDF 368 KB] of KPMG
Held The Hon’ble jurisdictional High Court in the case of CIT v. Rasi Cement Ltd. [1998] 232 ITR 554 (AP) has answered similar questions involved in favour of the Revenue. The question before the Hon’ble High Court was whether the interest earned on surplus funds deposited in the banks during the installation of the company,… Read More »
Held Documents relied by the AO are the copies of the copies which did not have any signature of bank official or name of the bank or the place or the country were the branch was situated. The AO himself admitted in para 6 of the assessment order that the requisite information from the Swiss… Read More »
Held In the taxing statutes, the Court has to be very slow in interpreting the statutes where intention of the legislature is to curb the evasion of tax. This is a peculiar case where the Government has granted the benefit under the scheme only to the persons who are not covered under Section 132 of… Read More »
HIGH COURT OF KERALA Smt. Rajee Rajkumar v. Assistant Commissioner of Income-tax, Non-corporate Circle(1), Ernakulam A.M. SHAFFIQUE, J. W.P. (C.) NOS. 17509 & 17571 OF 2016 APRIL 5, 2017 Anil D. Nair, R. Sreejith, Kum. Soumya Prakash and Kum. Mekhala M. Benny, Advs. for the Petitioner. Christopher Abraham and K.M.V. Pandalai, Advs, for the Respondent.… Read More »
Held Any contract of sale (agreement to sell) which is not a registered deed of conveyance (deed of sale) would fall short of the requirements of sections 54 and 55 of TP Act and will not confer any title nor transfer any interest in an immovable property (except to the limited right granted under section… Read More »
Held On perusal of this section (Section 10(5) of Income tax act) , we are of the view that this provision was introduced in order to motivate the employees and also to encourage tourism in India and, therefore, the reimbursement of LTC/LFC was exempted, but there was no intention of the Legislature to allow the… Read More »
SUPREME COURT OF INDIA Parle Agro (P.) Ltd. v. Commissioner of Commercial Taxes, Trivandrum A.K. SIKRI AND ASHOK BHUSHAN, JJ. CIVIL APPEAL NOS. 6468 TO 6472 OF 2017 MAY 9, 2017 Aditya Bhattacharya, Victor Das, M.P. Devanath, L. Charanya and Ramesh Babu M.R., Advs. for the Appellant. G. Prakash, Jishnu M.L., Ms. Priyanka Prakash, Ms.… Read More »
Held Original asset was sold on 22.3.2010 but the assessee had not been able to construct the residential house before 22.03.2013 Mere purchase of residential plot is not sufficient compliance of provisions of section 54F. What was expected from the assessee was to prove on record that the assessee had purchased or constructed a house… Read More »
Held In the instant case, the amount deposited by the assessee-Appellants without any authority of law cannot be considered as Service Tax. As per Article 265 of the Constitution, no tax can be collected without any authority of law. At the relevant time, there was no authority of law to collect Service Tax on the… Read More »
HIGH COURT OF GUJARAT Principal Commissioner of Income-tax, Ahmedabad v. Devendranath G. Chaturvedi* M.R. SHAH AND B.N. KARIA, JJ. CIVIL APPLICATION (OJ) NO. 166 OF 2017† STAMP NO. 9 OF 2017 (Arising out of order of ITAT in IT Appeal No. 385 (Ahd.) of 2011, dated 29-1-2016.) APRIL 3, 2017 Nitin K. Mehta, Adv. for… Read More »
Supreme Court of India Mukesh & Anr Vs. State for NCT of Delhi & Ors. Appeal Number : Criminal Appeal Nos. 607-608 Of 2017 Date of Judgement/Order : 05.05.2017 Relevant Extract of the Judgment 140. We are here concerned with the award of an appropriate sentence in case of brutal gang-rape and murder of a… Read More »
Held The addressee in this case is correctly described. There is no dispute about his identity. Even his address is correct. It is at that address the packet is carried and by the concerned postal authority. The duly authorised person carrying the packet reached the address. On noticing the addressee, he serves it, but the… Read More »
Held Section 40(a)(ia) covers not only those cases where the amount is payable but also when it is paid. SUPREME COURT OF INDIA Palam Gas Service v. Commissioner of Income-tax A.K. SIKRI AND ASHOK BHUSHAN, JJ. CIVIL APPEAL NO. 5512 OF 2017 MAY 3, 2017 Raj Kumar Mehta and Ms. Himanshi Andley Advs. for the… Read More »
IN THE ITAT MUMBAI BENCH ‘B’ Mehul V. Vyas v. Income-tax Officer, 23(2)(3), Mumbai* D. KARUNAKARA RAO, ACCOUNTANT MEMBER AND RAVISH SOOD, JUDICIAL MEMBER IT APPEAL NO. 727 (MUM.) OF 2013 [ASSESSMENT YEAR 2006-07] APRIL 7, 2017 Narayan Atal for the Appellant. Ms. Pooja Swaroop for the Respondent. ORDER Ravish Sood, Judicial Member –… Read More »
Facts of the Case Assessee was the owner of a flat in Jai Mahavir Apartment, J.P. Road at Andheri (West) jointly with his wife Mrs. Manisha J. Faria. The said flat was sold for Rs. 1,02,55,000/-. The assessee computed long term capital gains at Rs. 43,01,665/- being 50% share in the property. The assessee invested… Read More »
Held In absence of a statutory provision, prescribing that, registration of the premises was mandatory for availing input service tax credit, the Assessee could not be denied refund of unutilized cenvat credit on input services. Madras High Court Commissioner of Service Tax-III Vs Customs, Excise & Service Tax Appellate Tribunal Appeal Number : C.M.A. No.… Read More »
Held As per proviso to sub-section (4) of Section 54F if the amount deposited in capital gain account is not utilized wholly or partly for purchase or construction of new asset within the period specified in sub-section (1) then the amount of capital gain shall be charged under Section 45 as income of the previous… Read More »