ITR'S TRIBUNAL TAX REPORTS (ITR (Trib)) HIGHLIGHTS
F Where main object of assessee to impart education and conduct free health check-up camps and providing educational facilities is part of charitable purposes, assessee entitled to registration : Society for Advance Health Education v. CIT (Agra) p. 706
F Order in transfer pricing adjudication not necessarily always to be taken as binding precedent unless facts in pari materia : BMW India P. Ltd. v. Addl. CIT (Delhi) p. 716
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INCOME TAX REPORTS (ITR) HIGHLIGHTS
F Tribunal finding assessee could not be held to have consciously given inaccurate particulars : Deletion of penalty justified : CIT v. Dabwali Transport Co. (P & H) p. 577
F Notice after four years not valid where there was no allegation that there was any failure on part of assessee to disclose truly and fully all material facts : Patel Alloy Steel P. Ltd. v. Asst. CIT (Guj) p. 580
F Immunity from penalty : Assessee need not specify manner in which income was earned : CIT v. Sidh Nath Goel (All) p. 481
F AAR cannot at final hearing refuse to give a ruling on ground of suspicion that an illegality had taken place : Mahindra BT Investment Co. (Mauritius) Ltd. v. Director of I. T. (International Taxation) (Bom) p. 485
F Notice served by affixture on the last date of limitation valid : V. R. A. Cotton Mills P. Ltd. v. Union of India (P & H) p. 495
F Trust was genuine and assessee did not hold beneficial interest in company exceeding 10 per cent. : Tribunal finding not perverse : CIT v. Krupeshbhai N. Patel (Guj) p. 504
F Addition of sum in excess of particular amount not permissible under section 68 : D. C. Rastogi v. CIT (Delhi) p. 513
F Service of notice impossible on last date of limitation : Notice under section 143(2) on very next day not barred by limitation : Gujarat State Plastic Manufacturers Association v. Deputy CIT (Guj) p. 516
F Amount surrendered in revised return after search : No immunity from penalty : Shourya Towers P. Ltd. v. Deputy CIT (Delhi) p. 523
F No warrant in name of assessee : Block assessment not valid : CIT v. Sonal Constructions (Delhi) p. 532
F Seized documents in any form including loose papers on which notings made : CIT v. Sonal Constructions (Delhi) p. 532
F Merely because partners not examined at time of assessment, reliance on documents for making additions not precluded : CIT v. Sonal Constructions (Delhi) p. 532
F Presumption to documents available for purpose of block assessment : CIT v. Sonal Constructions (Delhi) p. 532
F Budget deficit of Income-tax Department not a ground for reduction of period for payment of tax : Amul Research and Development Association v. ITO (Guj) p. 549
F Garnishee proceedings : Assessee must be given opportunity to be heard : Amul Research and Development Association v. ITO (Guj) p. 549
F Appeal preferred by assessee not a bar for issue of writ : Amul Research and Development Association v. ITO (Guj) p. 549
F Concealment discovered in appellate proceedings : Penalty proceedings should be initiated by appellate authority : CIT v. Manjunatha Cotton and Ginning Factory (Karn) p. 565
F Amount received for intangible assets under a separate agreement constituted non-compete fee not containing any element of goodwill : Capital receipt : CIT v. Real Image P. Ltd. (Mad) p. 606
F Amounts written off as bad debts allowable where business nexus between assessee and subsidiary companies : CIT v. Spencers and Co. Ltd. (No. 1) (Mad) p. 612
F Restrictive covenant prohibiting assessee from carrying on competing business in retail : Amount received as non-compete fee : Capital receipt : CIT v. Spencers and Co. Ltd. (No. 1) (Mad) p. 612
F Payment of licence fee, legal expenses and retainer fee allowable : CIT v. Spencers and Co. Ltd. (No. 2) (Mad) p. 630
F Notional value of benefits towards allotment of car parking spaces not income where assessee allowed to park cars in open space against refundable security deposits : CIT v. Spencers and Co. Ltd. (No. 3) (Mad) p. 644
F Compensation paid to tenants for delivering vacant possession : Entitled to indexation benefit : CIT v. Spencers and Co. Ltd. (No. 3) (Mad) p. 644
F Loss on account of sale of shares allowable where Tribunal finding transaction genuine and loss occurred in course of business : CIT v. Spencers and Co. Ltd. (No. 3) (Mad) p. 644
F Investment in shares utilising borrowed capital for strategic business purposes allowable : CIT v. Spencers and Co. Ltd. (No. 3) (Mad) p. 644
F Licence fee deductible under section 37 : CIT v. Spencers and Co. Ltd. (No. 3) (Mad) p. 644
F Buyers commission deductible : CIT v. E. Ramachandran (Mad) p. 671
F From Our Reporter at the Supreme Court :
Appeal to Appellate Tribunal :
Order of remand : Whether scope restricted . . . 9
Cash credits :
Finding that transactions not genuine . . . 10
Disallowance of expenditure relating to income not includible in total income . . . 10
Exemption : Export of computer software or STP units :
Whether brought forward losses or depreciation to be set off . . . 10
Income from other sources or from house property :
Composite letting of space and other amenities . . . 11
Principle of mutuality :
Income from contributions of the members kept in fixed deposits with banks . . . 11
Revision :
Order passed after enquiry and taking plausible view not amenable to revision . . . 11
Reassessment :
Not permissible in respect of issues decided by Settlement Commission . . . 12
On basis of information received under provision for exchange of information in DTAA . . . 11
F C. B. D. T. Circulars/Order :
Income-tax Act, 1961 :
Order under section 119(2)(a) : Extension of last date of payment of advance tax from 15th December, 2013 to 17th December, 2013-Order dated 13th December, 2013 . . . 16
F Notifications :
Income-tax Act, 1961 :
Notification under section 10(46) :
Exemption to Board/Trust/Commission constituted with object of regulating/administering an activity for benefit general public . . . 9
Notification under section 35(1)(iia) :
Institution notified for the purpose of section 35(1)(iia) . . . 15
Notifications under section 43(5)(e), Expln. 2(iii) :
Notified recognised association . . . 12
Notification under section 80G(2)(c) :
Deduction in respect of donations to certain funds, charitable institutions, etc. . . . 14
Notification under section 120(1) and (2) :
Jurisdiction of income-tax authorities : Corrigendum . . . 14
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COMPANY LAW INSTITUTE OF INDIA PVT. LTD.
No. 2, Vaithyaram Street,
T.Nagar, Chennai - 600017.
Phone: (044) 24350752 - 55
Fax: (044) 24322015
info@cliofindia.com
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