[aaykarbhavan] Fw: Pre-Print Highlights of ITR(Trib) from CLI
On Monday, 13 April 2015 6:02 AM, "info@cliofindia.com" <info@cliofindia.com> wrote:
| |  www.cliofindia.com info@cliofindia.com
ITR'S TRIBUNAL TAX REPORTS (ITR (Trib)) HIGHLIGHTS | | Vol. 39, Part 1, dated 13-4-2015 | | | | | | | | | | | | | | | | | | | | | | | | | | | |
APPELLATE TRIBUNAL ORDERS |
F Co-operative society : Special deduction : Expenditure on taking insurance and mediclaim policies to protect interests of members cannot be disallowed as personal in nature : Asst. CIT v. Advocates Mutually Aided Co-operative Society (Hyderabad) p. 313 (20-2-2015)
APPELLATE TRIBUNAL ORDERS |
F Where assessee was a co-operative society, entitled to deduction u/s. 80P(2)(a)(i) : Asst. CIT v. Metrocity Criminal Courts Employees Mutually Aided Co-operative Credit Society Ltd. (Hyd) p. 1 (4-3-2015)
F Where agent of non-resident waiving benefit of privilege of opportunity of being heard, no order required for opportunity of being heard to agent, time limit prescribed u/s. 149(3) not applicable and reassessment was valid : Asst. DIT (International Taxation) v. Oil and Natural Gas Corporation Ltd. p. 11 (13-2-2015)
F Where payments made to BSE and NSE towards VSAT charges and lease line charges, TDS not required : Centrum Broking Ltd. v. Asst. CIT (Mum) p. 23 (20-2-2015)
F Market to market loss on derivatives cannot be treated as contingent liability, deduction allowable : Centrum Broking Ltd. v. Asst. CIT (Mum) p. 23 (20-2-2015)
F Charitable purpose : Failure by authority to record dis-satisfaction about object of trust and its genuineness, denial of registration not sustainable : Matru Vandana Trust v. DIT (Exemption) (Mum) p. 30 (20-2-2015)
F Gift : Genuineness of transaction cannot be determined by customary relationship u/s. 68 : Smt. Ichudevi L Choraria v. ITO (Mum) p. 57 (6-2-2015)
F Income from trading in shares to be considered as capital gains : ITO v. Ashok Kumar (Delhi) p. 76 (2-3-2015)
F Exemption : Carry forward of loss of software technology park unit to be allowed against profits of other income of section 10A units : HSBC Electronic Data Processing India P. Ltd. v. Deputy CIT (Hyd) p. 83 (18-2-2015)
F International transactions : ALP : Reimbursement of cost to be excluded from operating cost : HSBC Electronic Data Processing India P. Ltd. v. Deputy CIT (Hyd) p. 83 (18-2-2015)
F Where expenditure directly relating to business purpose, deduction allowable u/s. 37(1) : Greater Ludhiana Area Development Authority v. Addl. CIT (Chandigarh) p. 100 (5-2-2015)
F Business expenditure : Where contributions towards provident fund, entitled to deduction though fund not recognised u/s. 36(1)(iv) : Greater Ludhiana Area Development Authority v. Addl. CIT (Chandigarh) p. 100 (5-2-2015)
F Where construction of sewerage system through an independent agency, allowable as business expenditure : Greater Ludhiana Area Development Authority v. Addl. CIT (Chandigarh) p. 100 (5-2-2015)
F Public charitable institutions to lose income-tax exemption--Delhi High Court ruling impliedly overruled--Gopal Nathani, Chartered Accountant p. 1
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Posted by: Dipak Shah <djshah1944@yahoo.com>
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