Month: November 2015

AAR : Whether looking to the nature of activities carried on by the Applicant, which is a Singapore based company and a non-resident as per provisions of section 6(3) of the Income Tax Act, 1961, the Applicant can be held to have earned any income taxable in India from its activities of execution of “Installation Project” referred herein, as per the provisions of Income Tax Act, 1961

Authority Of Advance Rulings Tiong Woon Project & Contracting (Pte) Limited., In Re Section 6(3) V.S. Sirpurkar, Chairman, A.K. Tewary, Member & R.S. Shukla, Member A.A.R. No 1602 of 2014 30th November, 2015 Counsel appeared: K.Meenakshi Sundaran, FCA for the Appellant: Sukhvinder Khanna, CIT-DR,AAR,ND, S.S. Negi, JCIT-DR, AAR, ND, Sachin Dhania, DCIT-DR(AAR),ND for the Department. V.S. …

Punjab & Haryana H.C : Insurance Company has been called upon to pay the amounts of T.D.S. deducted on the interest income which was deposited by the Insurance Company with the Income Tax Department

High Court Of Punjab & Haryana New India Assurance Co. Ltd. vs. Sudesh Chawla And Others Section 194A Amit Rawal, J. CR No.430, 3801 & 1930 of 2015 (O&M) 30th November, 2015 Counsel appeared: Rahul pathania for R.C. Kapoor (in CR Nos.430 and 1930 of 2015), Vandanaa Malhotra (in CR No.3801 of 2015) for the Petitioner …

S.C : Deduction under section 80P to assessee-bank was disallowed by Commissioner (Appeals) as well as Tribunal, special leave petition filed by assessee against High Court’s order allowing reassessment proceeding, became infructuous

Supreme Court Of India Punjab State Co-Op. Agri. Dev. Bank Ltd. vs. CIT-I Section : 80P, 147 A.K. Sikri And C. Nagappan, JJ. Civil Appeal Nos. 1502 And 1503 Of 2008 November 27, 2015 ORDER 1. The appellant is engaged in the business of banking. It had been filing income tax returns claiming exemption from tax …

Delhi H.C : Whether the ITAT erred in deleting the addition made under Section 68 of the Act of share application money by holding that the identity and genuineness of the share applicants was established?

High Court Of Delhi CIT & Ors. vs. Five Vision Promoters Pvt. Ltd. & Ors. Section 68, 132, 153C, 260A(2)(a) Asst. Year 2007-08, 2008-09 & 2009-10 S. Muralidhar & Vibhu Bakhru, JJ. ITA 234/2015, 235/2015, 236/2015 27th November, 2015 Counsel appeared: Rohit Madan and Akash Vajpai, Advocates for the Petitioner.: C.S. Aggarwal, Senior Advocate with Prakash …

Karnataka H.C : Benefit of Section 32(1)(iia) of the Act to the next assessment year when the income tax Act does not provide for such carryover, thereby violating the legal principles of “cassus omissus” which states that the courts cannot compensate for what the legislature has omitted to enact

High Court Of Karnataka CIT & Anr. vs. Rittal India (P) Ltd. Section 31(1)(iia) Asst. Year 2008-09 Vineet Saran & S.Sujatha, JJ. ITA NO.268/2014 24th November, 2015 Counsel appeared: K.V.Aravind, Adv., for the Appellant. : T.Suryanarayana, Adv., for the Respondent. JUDGMENT: This appeal has been filed by the Revenue challenging the order of the Tribunal whereby …

S.C : Deduction under section 80HHC in case of assessee firm dealing in trading and manufacturing of cycle parts, proceeds generated from sale of scrap would not be included in ‘total turnover’

Supreme Court Of India Mahavira Cycle Industries vs. CIT Section : 80HHC Jagdish Singh Khehar And Mrs. R. Banumathi, JJ. I.A. Nos. 2 & 3 Of 2015 Civil Appeal Nos. 5773 Of 2012 And 2738, 2740 & 8753 Of 2013 November 16, 2015 JUDGMENT 1. Learned counsel for the respondents acknowledges that the controversy in hand …

Punjab & Haryana H.C : Whether, the order of the Tribunal is perverse for non-consideration of relevant material, the evidence placed on record and submissions made by the Appellant and reaching a conclusion that the services availed were in the nature of shareholder activities and that the benefit received by appellant was only incidental and passive association benefit

High Court Of Punjab & Haryana Knorr-Bremse India Pvt. Ltd. & Anr. vs. ACIT & ANR. S.J. Vazifdar, ACJ & G.S. Sandhawalia, J ITA No. 172, 182 of 2013 (O&M) Section : 260A, 92C(1), 92CA(3), 92CA, 92, 92C, 92D, 92E, 10A, 10AA,10B, 144C(5), 37, 271(1)(c) Asst. Year 2007-08 6th November, 2015 Counsel appeared: Radhika Suri, Sr. …

Punjab & Haryana H.C : the evidence placed on record and submissions made by the Appellant and reaching a conclusion that the services availed were in the nature of shareholder activities and that the benefit received by appellant was only incidental and passive association benefit

High Court Of Punjab & Haryana Knorr-Bremse India Pvt. Ltd. & Anr. vs. ACIT & ANR. S.J. Vazifdar, ACJ & G.S. Sandhawalia, J ITA No. 172, 182 of 2013 (O&M) Section : 260A, 92C(1), 92CA(3), 92CA, 92, 92C, 92D, 92E, 10A, 10AA, 10B, 144C(5), 37, 271(1)(c) Asst. Year 2007-08 6th November, 2015 Counsel appeared: Radhika Suri, …
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