August 2018 - taxcaselaw.com

AAR : Entitlement to take credit of tax paid on various goods and services used for maintenance of applicant’s township, guest house, hospital, horticulture in its ordinary course of business.

Avijit Das / August 29, 2018

Odisha Authority for Advance Ruling Goods and Service Tax Proceedings of the authority for advance ruling U/S 98 OF THE […]

Bombay H.C : The Appellant does not have a Permanent Establishment in India and instead setting aside the order of the CIT (A)

Avijit Das / August 29, 2018

High Court Of Bombay Co-Operative Centrale Reiffeisen-Boereleenbank B. A. vs. Deputy Commissioner (International Taxation) Of Income Tax Section 254(2), Article

Income Tax Case Laws, Section 14A

Karnataka H.C : Neither assessing authority nor Dispute Resolution Panel has recorded specific finding as to whether the assessee has incurred specific expenditure or not even when the ingredients of section 14A are satisfied in the case of the assessee and the assessing authority has categorically specified the expenditure for such dis allowance

Avijit Das / August 28, 2018

High Court Of Karnataka Pr. CIT And Ors. vs. Goldman Sachs Services Pvt. Ltd. Section 14A, 260-A and Rule 8D

Section 24, Sec. 143(3), Section 263, Section 56, Section 57

Gujarat H.C : the assessment of the petitioner for the assessment year 2013-2014 in revision in exercise of powers under section 263

Avijit Das / August 28, 2018

High Court Of Gujarat Aryan Arcade Ltd vs. Pr.CIT Section 24, 56, 57, 143(3), 263 Asst. Year 2013-2014 Akil Kureshi

Income Tax Case Laws, Sec. 245D

Delhi H.C : the petitioner and others were admitted by the ITSC vide order dated 7th January, 2014 under Section 245D(1)

Avijit Das / August 28, 2018

High Court Of Delhi Moin A Qureshi vs. CIT And Another Section 245D(2C) Asst. Year 2008-09 to 2013-14 Sanjiv Khanna

Income Tax Case Laws, Section 14A

Gujarat H.C : The learned ITAT has erred in law and on facts in not upholding the disallowance u/s.14A of the Income Tax Act made by the Assessing Officer ?

Avijit Das / August 27, 2018

High Court Of Gujarat Pr.CIT vs. Shreno Ltd Section 14A and Rule 8D of Income Tax Rules Asst. Year 2010-11

Income Tax Case Laws, Sec. 245D

Madras H.C : The Settlement Application filed by the petitioner was not allowed to be proceeded with and treated as invalid under Section 245D(2C)

Avijit Das / August 24, 2018

High Court Of Madras Abdul Rahim vs. Income Tax Settlement Commission Section 245D(2C) Asst. Year 2010-11 to 2016-17 K. Ravichandrabaabu,

Income Tax Case Laws

Bombay H.C : The assessee integrated both and this is a systematic activity or trading of shares with business motive. Thus, this is a trading activity and, therefore, he treated the short term capital gain offered by the assessee as business income.

Avijit Das / August 20, 2018

High Court Of Bombay Ramilaben D. Jain vs. ACIT S. C. Dharmadhikari & B. P. Colabawalla, JJ. Income Tax Appeal

Section 80-IC, Income Tax Case Laws

S.C : An assessee who sets up a new industry of a kind mentioned in sub-section (2) of Section 80-IC of the Act and starts availing exemption of 100 per cent tax under subsection (3) of Section 80-IC (which is admissible for five years) can start claiming the exemption at the same rate of 100% beyond the period of five years on the ground that the assessee has now carried out substantial expansion in its manufacturing unit

Avijit Das / August 20, 2018

Supreme Court Of India CIT vs. Classic Binding Industries A. K. Sikri & Ashok Bhushan, JJ. Section 80-IC CIVIL APPEAL

Income Tax Case Laws

Bombay H.C : Assessee claimed short term capital gains on sale and purchase of shares as well as speculation income from trading of shares

Avijit Das / August 20, 2018

High Court of Bombay Ramilaben D. Jain vs. ACIT C. Dharmadhikari & B. P. Colabawalla, JJ. Asst. Year 2007-08 Income