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GLOBAL HEALTH PVT. LTD. & ANR. VS DEPUTY COMMISSIONER OF INCOME TAX & ANR.
DELHI TRIBUNAL, Mar 18, 2019

1. ITA No. 3622/Del/2015 is preferred by the assessee against the order dated 30.4.2015 passed by the Ld. CIT (Appeals) -4, New Delhi {CIT (A)} for assessment year 2010-11...

Legislation Referred To : Section 40A(iii)

PRINCIPAL COMMISSIONER OF INCOME TAX VS YES BANK LTD.
SUPREME COURT OF INDIA, Mar 15, 2019

1. Leave granted. 2. This appeal is filed against the final judgment and order dated 01.08.2017 passed by the High Court of Judicature at Bombay in ITA No.599/2015 whereby...

Legislation Referred To : Section 35-D, 260-A

PRINCIPAL COMMISSIONER OF INCOME TAX VS YES BANK LTD.
SUPREME COURT OF INDIA, Mar 15, 2019

Hon'ble Mr.Justice Abhay Manohar Sapre pronounced the judgment for the Bench comprising of His Lordship and Hon'ble Mr.Justice Dinesh Maheshwari. Leave granted. The appeal...

Legislation Referred To : null

COMMISSIONER OF INCOME TAX VS DILBAGH RAI ARORA
HIGH COURT OF ALLAHABAD, Mar 15, 2019

In the course of a search u/s 132, the addition can only be made, if there is incriminating material or the surrounding circumstances reveal that there is any material to...

Subject : Search and Seizure
Legislation Referred To : Section 132
In Favour Of : Assessee

ASSISTANT COMMISSIONER OF INCOME TAX & ORS. VS DEEPALI DESIGN & EXHIBITS (P) LTD. & ORS.
DELHI TRIBUNAL, Mar 14, 2019

1. These two appeals are filed by the Revenue as well as the assessee against the order dated 26/12/2014 passed by CIT(A)-XXVII, New Delhi for Assessment Year 2011-12. 2....

Legislation Referred To : Section 133(6), 234B, 36(1)(vii), 145(1)

MAJALGAON SAHAKARI SAKHAR KARKHANA LTD. & ORS. VS ASSISTANT COMMISSIONER OF INCOME TAX & ORS.
PUNE TRIBUNAL, Mar 14, 2019

PER BENCH : 1. This batch comprising of certain appeals by the assessees and the others by the Revenue relate to different assessment years captioned above. Since most of...

Legislation Referred To : Section 40A(2), 43B, 80P

PUMARTH PROPERTIES & HOLDING PVT. LTD. VS ASSISTANT COMMISSIONER OF INCOME TAX
INDORE TRIBUNAL, Mar 14, 2019

1. The above captioned appeal is filed at the instance of the assessee pertaining to Assessment Year 2012-13 and is directed against the orders of Ld. Commissioner of...

Legislation Referred To : Section 271AAB, 139(1), 132

DEPUTY COMMISSIONER OF INCOME TAX VS PPFAS ASSET MANAGEMENT PVT. LTD.
BOMBAY TRIBUNAL, Mar 13, 2019

Assessee is entitled to a deduction of admissible business expenses incurred by it only from the date when the business of the assessee was set up and ready to commence its...

Subject : Business Expenditure
Legislation Referred To : Section 2(11), 28, 37(1), 143(3)
In Favour Of : Revenue (Partly)

ADDITIONAL COMMISSIONER OF INCOME TAX & ANR. VS JUBILANT LIFE SCIENCES LIMITED & ANR.
DELHI TRIBUNAL, Mar 12, 2019

Profits derived by assessee’s power generation unit would be eligible for deduction as a separate undertaking u/s 80IA.

Subject : Deduction
Legislation Referred To : Section 2(28A), 35D, 43B, 80IA, 115JA
In Favour Of : Assessee(Partly)

QUICK HEAL TECHNOLOGIES LTD. VS DEPUTY COMMISSIONER OF INCOME TAX
PUNE TRIBUNAL, Mar 12, 2019

1. These two appeals by the assessee relate to assessment years 2012-13 & 2014-15. Since common issue is raised in both the appeals, we are, therefore, proceeding to...

Legislation Referred To : Section 10(35), 14A

COMMISSIONER OF INCOME TAX VS GOPAL SHRI SCRIPS PVT LTD
SUPREME COURT OF INDIA, Mar 12, 2019

Leave granted. The appeal is allowed in terms of the signed Reportable judgment. Pending application, if any, shall also stand disposed of. ...

Legislation Referred To : null

BHUDEVI KISHANRAO GORANTYAL VS INCOME TAX OFFICER
PUNE TRIBUNAL, Mar 12, 2019

Reference u/s 55A(a) can be made to DVO only when the value adopted by assessee is less than the fair market value.

Subject : Capital Gains
Legislation Referred To : Section 143(3), 55A, 50C, 234A
In Favour Of : Assessee

COMMISSIONER OF INCOME TAX VS GOPAL SHRI SCRIPS PVT. LTD.
SUPREME COURT OF INDIA, Mar 12, 2019

Dismissal of appeal by the High Court without keeping in view the relevant provisions is not legally sustainable.

Subject : Appeal
Legislation Referred To : Section 260-A, 560(5)
In Favour Of : Revenue

PRIAPUS DEVELOPMENT P. LTD. VS ASSISTANT COMMISSIONER OF INCOME TAX
DELHI TRIBUNAL, Mar 12, 2019

1. Aforesaid appeal has been filed by the assessee against the impugned order dated 05.12.2018, passed by the Ld. CIT(Appeals)- 7, New Delhi for the quantum of assessment...

Legislation Referred To : Section 10(38), 47(vi), 49(2), 115JB, 143(3)

INCOME TAX OFFICER VS BANSAL STRIPS PVT. LTD.
DELHI TRIBUNAL, Mar 11, 2019

1. This appeal by the Revenue is preferred against the order of the ld. CIT(A) - 2, New Delhi dated 27.02.2015 pertaining to A.Y 2006-07. 2. The substantive grievances of...

Subject : Income from undisclosed sources
Legislation Referred To : Section 250(4)
In Favour Of : Revenue(Partly)

DOW CHEMICAL INTERNATIONAL PRIVATE LIMITED & ANR. VS DEPUTY COMMISSIONER OF INCOME TAX & ANR.
BOMBAY TRIBUNAL, Mar 11, 2019

ALP of international transactions should be determined by adopting any of 5 prescribed methods, being MAM having regard to nature/class of transactions or class of AEs or...

Subject : Transfer Pricing
Legislation Referred To : Section 92CA
In Favour Of : Matter Remanded

ASSISTANT COMMISSIONER OF INCOME TAX & ANR. VS COMVERSE KENAN INDIA PVT. LTD. & ANR.
DELHI TRIBUNAL, Mar 11, 2019

Segmental reporting of a company having income from different services is a must to justify the inclusion of the same as a comparable.

Subject : Transfer Pricing
Legislation Referred To : Section 92CA(3)
In Favour Of : Assessee

SONY MOBILE COMMUNICATION INDIA PVT. LTD. VS ADDITIONAL COMMISSIONER OF INCOME TAX
DELHI TRIBUNAL, Mar 08, 2019

1. This appeal is filed by the assessee against the order of the learned Additional Commissioner Of Income Tax, special range - 8, New Delhi passed u/s 143(3) read with...

Legislation Referred To : Section 92CA(3), 143(3), 144C

SANDVIK ASIA PVT. LTD. & ORS. VS ASSISTANT COMMISSIONER OF INCOME TAX & ORS.
PUNE TRIBUNAL, Mar 08, 2019

Transfer pricing adjustment on account of management services fee is not sustainable where the assessee has established the factum of receipt of management services in...

Subject : Transfer Pricing
Legislation Referred To : Section 40(a)(ia), 92CA(1), 195, 201(1)
In Favour Of : Assessee

RAKO MERCANTILE TRADERS VS DEPUTY COMMISSIONER OF INCOME TAX
LUCKNOW TRIBUNAL, Mar 08, 2019

Primary condition for eligibility of exemption u/s 54G is that exemption will be available only on transfer of a capital asset used for purpose of business undertaking from...

Subject : Capital Gains
Legislation Referred To : Section 54G
In Favour Of : Revenue