Category: Judgments

In a latest judgment, ITAT Delhi has held that post office is not an agent of the assessee. Notice u/s 143(2) dispatched to post office on the last date of limitation period  can not be deemed to be the date of service of notice to the assessee. Case Law Details: …

In a recent judgment, ITAT Delhi following Pepsi Foods (P) Ltd case  has granted stay beyond 365 days in a re-fixed appeal for clarification, holding that the  delay was not attributable to the assessee. Case Law Details: S.A.-211/Del/2016 (In ITA No.-1681/Del/2015) AY: 2010-11 D.E.Shaw India Advisory Services Pvt.Ltd vs. DCIT …

Merely writing yes/approved and affixing signature by CIT is not proper satisfaction for a fit case for re-opening u/s 147 and issue of notice u/s 148 Merely writing “yes” or “approved” and affixing signature by the Commissioner of Income Tax (CIT) was not the required/proper satisfied for a fit case …

In a latest judgment, the Delhi High Court has held that activity of 2D/3D seismic survey carried on by assessee in connection with oil exploration was not fees for technical services u/s 9(1)(vii) but liable to taxation u/s 44BB. Case Law Details: ITA 612/2012 PGS Exploration (Norway) ….Appellant  vs. …

In a latest judgment, ITAT Chennai has quashed penalty proceedings u/s 271(1)(c) for concealment holding that  there is a difference in “facts not proved” and “facts disproved” and penalty can be levied only for the latter. Case Law Details: ITA No.1730/Mds./2015 Assessment Year :2010-11 Mr.R.A.Palanisamy vs. Income Tax Officer Date of …

In a latest judgment, Delhi High Court has quashed CBDT order rejecting refund of TDS deducted on penal interest treating it non-exempt u/s 10(15)(iv)(c) considering it as a result of violation/transgression of the loan agreement. The Court observed that the penal interest was imposed as part of the conditions of the …

In a latest judgment, ITAT Chennai has upheld that allowing set off of business loss from the unexplained cash credits u/s 68 not permissible in view of harmonious and combined reading of  sections 71 , 72 and 32(2). Case Law Details: I.T.A.No.325/Mds./2015 vs. Assessment Year :2006-07 Deputy Commissioner of Income Tax …

In a recent judgment, ITAT Chennai has held that the assessee is not entitled to additional depreciation u/s.32(1)(iia) of the Income Tax Act, 1961 on the machineries acquired in earlier year than the relevant financial year as there is no provision for postponement or carry forward of the residual …

In a recent judgment, ITAT Mumbai has opined that merely because an income has been taxed in the hands of recipient , does not mean that it is a deductible expenditure in the hands of the person making the payment instead the deduction is required to be examined …

In a recent judgment, Allahabad High Court has held that  right of appeal is a matter of procedure which gets converted into a substantive right as a creature of statute which cannot create a retrospective right. The appeal has to be filed within the limitation prescribed. Case Details: ITA …