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L. K. PRAHLADKA VS INCOME TAX OFFICER
KOLKATA TRIBUNAL, Jan 16, 2019

1. This appeal of the Assessee arises out of the order of the Learned Commissioner of Income Tax (Appeals) -10, Kolkata for AY 2014-15 dated 16.11.2017. 2. Though the...

Legislation Referred To : Section 10(38), 68

WNS GLOBAL SERVICES PVT. LTD. & ORS. VS INCOME TAX OFFICER & ORS.
BOMBAY TRIBUNAL, Jan 16, 2019

1. This bunch consists of three appeals. There are cross appeals arising out of order dated 15th November 2010, passed by the learned Commissioner (Appeals)-15, Mumbai, for...

Legislation Referred To : Section 10A(9), 92B, 143(3)

ARCHANA AGRAWAL VS DEPUTY COMMISSIONER OF INCOME TAX
INDORE TRIBUNAL, Jan 15, 2019

1. The above captioned bunch of three appeals filed at the instance of assessee pertaining to Assessment Year 2008-09, 2011-12 and 2012-13 are directed against the orders...

Legislation Referred To : Section 234B, 153A, 132

SANJEEV JAIN VS INCOME TAX OFFICER
DELHI TRIBUNAL, Jan 15, 2019

1. This appeal filed by the assessee is directed against the order dated 20.03.2017 passed by the CIT (A), Muzaffarnagar relating to A. Y. 2013-14. 2. Facts of the case, in...

Legislation Referred To : Section 54E, 68, 131, 143(2)

P.R. ASSOCIATES VS ASSISTANT COMMISSIONER OF INCOME TAX
PUNE TRIBUNAL, Jan 15, 2019

Loans taken by assessee in cash in violation of provisions of s. 269SS to meet financial liabilities constituted a reasonable cause warranting non-imposition of penalty u/s...

Subject : Penalty
Legislation Referred To : Section 269SS, 271D, 273B
In Favour Of : Assessee

INCOME TAX OFFICER VS KALIKA BUILDCON P. LTD.
AHMEDABAD TRIBUNAL, Jan 15, 2019

1. This is Revenue's appeal against order of ld.CIT(A)-2, Ahmedabad dated 12.7.2016 passed for the assessment year 2013-14. 2. Sole issue raised in this appeal is that the...

Legislation Referred To : Section 143(2)

SHIRISH DAGDULAL SODANI VS INCOME TAX OFFICER
PUNE TRIBUNAL, Jan 15, 2019

1. These two appeals have been filed by the assessee. ITA No.1055/PUN/2018 is directed against the order of Commissioner of Income Tax (Appeals)-1, Aurangabad dated...

Legislation Referred To : Section 69C, 132, 142(1), 143(2)

ASSISTANT COMMISSIONER OF INCOME TAX VS MARUTI COUNTRYWIDE AUTO FINANCIAL SERVICES PVT. LTD.
DELHI TRIBUNAL, Jan 14, 2019

Bad debt or part of bad debt if written off in books of accounts as irrecoverable, same is allowable as deduction u/s 36(1)(vii).

Subject : Business expenditure
Legislation Referred To : Section 36(1)(vii), 37
In Favour Of : Assessee(Partly)

UDAYA SOUHARDA CREDIT CO-OPERATIVE SOCIETY LIMITED VS INCOME TAX OFFICER
BANGALORE TRIBUNAL, Jan 11, 2019

1. This appeal is preferred by the assessee against the order of the CIT(A)-5, Bangalore, dated 15.11.2017 for Assessment Year 2014-15, inter alia, on the following...

Legislation Referred To : Section 80P[2]

WELSPUN INDIA LTD. & ANR. VS DEPUTY COMMISSIONER OF INCOME TAX & ANR.
BOMBAY TRIBUNAL, Jan 11, 2019

PER BENCH:- 1. These eight appeals are cross appeals filed by the Assessee and the Revenue for assessment year's(AY's) 2008-09 to 2011-12. Since common issues are involved...

Legislation Referred To : Section 43(1), 143(3)

COMMISSIONER OF INCOME TAX VS MARHATTA CHAMBER OF COMMERCE INDUSTRIES AND AGRICULTURE
HIGH COURT OF BOMBAY, Jan 11, 2019

Reassessment proceeding is not sustainable if there is no failure on part of assessee to disclose fully and truly all material facts as contemplated under first proviso to...

Subject : Reassessment
Legislation Referred To : Section 147, 148
In Favour Of : Assessee

DEPUTY COMMISSIONER OF INCOME TAX VS VIRTUSA (INDIA) PVT. LTD.
HYDERABAD TRIBUNAL, Jan 11, 2019

Giant company engaged into diversified activities cannot be treated as comparable.

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

DIAMOND CRUCIBLE COMPANY LTD. VS ASSISTANT COMMISSIONER OF INCOME TAX
AHMEDABAD TRIBUNAL, Jan 10, 2019

The expression “wholly” employed in s. 37 refers to quantification of the expenditure, while expression “exclusively” refers to motive, objective...

Subject : Business expenditure
Legislation Referred To : Section 234/B/C/D, 143(2), 37(1), 32
In Favour Of : Matter Remanded

AIRPORT RETAIL P. LTD. VS DEPUTY COMMISSIONER OF INCOME TAX
BOMBAY TRIBUNAL, Jan 09, 2019

Only when it is impossible or rather difficult to determine the ALP by applying any of the direct methods like CUP, RPM, CPM, then only as a method of last resort, TNMM...

Subject : Transfer Pricing
Legislation Referred To : Section 40(a)(ia), 194H
In Favour Of : Assessee(Partly)

DEPUTY COMMISSIONER OF INCOME TAX VS AHMEDBAD VADODARA EXPRESS WAY CO. LTD.
AHMEDABAD TRIBUNAL, Jan 09, 2019

Assessee was not obliged to collect TCS from collecting agency to whom it entrusted the activities of collecting toll fees as prescribed by the assessees.

Subject : TCS
Legislation Referred To : Section 206C(6A)
In Favour Of : Assessee

WIN INFORMATION TECHNOLOGY PVT. LTD. VS DEPUTY COMMISSIONER OF INCOME TAX
HYDERABAD TRIBUNAL, Jan 09, 2019

Proviso inserted by the Finance Act, 2012 in s. 40(a)(ia) is declaratory and curative in nature and therefore, should be given retrospective effect from 1st April, 2005.

Subject : Business expenditure
Legislation Referred To : Section 40(a)(ia), 234B, 201
In Favour Of : Assessee

ASSISTANT COMMISSIONER OF INCOME TAX & ORS. VS JAWAHARLAL PANNALAL NAMA (HUF)
INDORE TRIBUNAL, Jan 08, 2019

1. This appeal and cross objection in quantum proceedings and appeal in penalty proceedings were taken up together and are being disposed of by way of consolidated order....

Legislation Referred To : Section 153C, 271(1)(c)
In Favour Of : Assessee

ASSISTANT COMMISSIONER OF INCOME TAX VS ACCURATE TRANSFORMERS LTD.
DELHI TRIBUNAL, Jan 08, 2019

When assessee failed to explain availability of funds with him to explain the entries made in the seized material, the benefit of telescoping cannot be given to it.

Subject : Income
Legislation Referred To : Section 80IC, 154, 153A
In Favour Of : Revenue(Partly)

ASSISTANT COMMISSIONER OF INCOME TAX & ANR. VS UNION OF INDIA THROUGH SECRETARY INCOME TAX SETTLEMENT COMMISSION & ANR.
HIGH COURT OF PATNA, Jan 08, 2019

The Department of Income Tax through the Assistant Commissioner is before us, as a writ petitioner to question the order dated 30.9.2015 passed by the Settlement Commission...

Legislation Referred To : Section 153A, 234A, 245D(4)

DEPUTY COMMISSIONER OF INCOME TAX VS OXIGEN SERVICES INDIA PVT. LTD.
DELHI TRIBUNAL, Jan 07, 2019

Assessee is entitled to depreciation @60% on POS TERMINALS.

Subject : Depreciation
Legislation Referred To : Section 37
In Favour Of : Assessee