Category: Judgments

Payments to foreign professional firms by Indian CA firm for audit, taxation, VAT services not fee for technical services for disallowance u/s 40(a)(ia)

Payments to foreign professional firms by Indian CA firm for audit, taxation, VAT services not fee for technical services  for making disallowance u/s 40(a)(ia)  for non-deduction of tax at source. This was held by ITAT Mumbai in its following recent judgment Case Law Details: ITA No. 1917/MUM/2013 (Assessment …

DVO Reference u/s 55A condition u/s 50C applies only when stamp duty value is higher than the sales consideration as per agreement-ITAT

DVO Reference u/s 55A condition u/s 50C applies only when stamp duty value is higher than the sales consideration as per agreement. This was held by ITAT Mumbai in its recent judgment as under: Case Law Details: ITA No. 5133/Mum/2014  Assessment Year : 2009-10 Dy. Commissioner of Income Tax vs. M/s Shree Aditya …

Assessee entitled to option u/s 112(1)(a) for indexation/ non-indexation and pay tax on capital gains @20% or 10%. Benefit cannot be denied merely for not filing details in income return.

Assessee entitled to option u/s 112(1)(a) for indexation/ non-indexation and pay tax on capital gains @20% or 10%. Benefit cannot be denied merely for not filing details in income return. This was ruled by ITAT Mumbai in a recent judgment as under. Case Law Details: ITA No. 5977/Mum/2013  Assessment Year : 2010-11 …

Penalty u/s 271(1)(c) merely because quantum was decided against assessee by ITAT. The assessment and penalty proceedings are independent

Penalty u/s 271(1)(c) not imposable merely because quantum was decided against assessee by ITAT. The assessment proceedings and penalty proceedings are independent proceedings. ITAT Amritsar, in a recent judgment, upheld the deletion of the peanlty when additions were made on estimation basis. Case Law Details : I.T.A No.148 (Asr)/2014 Assessment Year: …

The contents of Reports alleging sexual harassment can hardly relate to affairs of State or anything concerning national security-Supreme Court

The contents of Reports alleging sexual harassment can hardly relate to affairs of State or anything concerning national security-Supreme Court. The Government officials seems to have double standards when it comes to maintain transparency in their conduct in dealing with sexual harassment at work place. The recent judgment …

Debenture restructuring charge paid to debenture holders for re-negotiating terms and conditions to extend the redemption date held revenue expenditure-ITAT

Debenture restructuring charge paid to debenture holders for re-negotiated terms and conditions to extend the redemption date was held to be revenue expenditure-ITAT Case Law Details: DCIT vs. M/S JUBILANT FOOD WORKS LTD. ITA No.1407/Del/2014 A.Y. : 2004-05 Date of Order/Judgment: 05/05/2016 Important Case Laws Referred: CIT vs. Gujarat Guardian …

CIT(Appeals) must pass speaking order even in ex-parte cases. Appeal dismissed in limine for non appearnace remanded back by ITAT

CIT Appeals must pass speaking order even in ex-parte cases. ITAT Delhi, in a recent case remanded back the appeal of the assessee which was dismissed in limine by CIT(A) for non appearnace.  Case Law Details: I.T.A .No.-2379/Del/2015 (ASSESSMENT YEAR-2010-11) Abhinav Dwivedi vs ITO Date of Judgment/Order: 04/05/2016 Brief Facts of the …
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