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ITR'S TRIBUNAL TAX REPORTS (ITR (Trib)) HIGHLIGHTS | | Vol. 40, Part 3, dated 15-6-2015 | | | | | | | | | | | | | | | | | | | | | | | | | | | |
APPELLATE TRIBUNAL ORDERS |
F Disallowance cannot be made on basis of subsequent amendment : Rajasree Motors P. Ltd. v. Asst. CIT (Cochin) p. 310 (8-5-2015)
F Deduction u/s. 80-IB not allowable to assessee filing return after due date : P. Bhavani v. Asst. CIT (Chennai) p. 316 (1-5-2015)
F Disallowance u/s. 40(a)(ia) not applicable if no outstanding balance at close of previous year : N. Palanivelu v. ITO (Chennai) p. 325 (29-4-2015)
F Where weaving charges supported by self-made vouchers, disallowance of 10 per cent. of weaving charges appropriate : N. Palanivelu v. ITO (Chennai) p. 325
F Difference of opinion : Division Bench to indentify and dispose of appeal on basis of majority view : Jupiter Corporation Services Ltd. v. Deputy CIT (Ahd) p. 328 (24-4-2015)
F Income from undisclosed sources : Additions to be made to extent of gross profit on undisclosed business turnover not of entire deposits : Sheikh Abdul Farid v. ITO (Lucknow) p. 337 (16-4-2015)
F Sundry creditors : Where no liability written back in accounts of assessee, addition not sustainable : Sheikh Abdul Farid v. ITO (Lucknow) p. 337
F Delay in obtaining expert opinion and approval from management to be condoned : Mahindra Forgings Ltd. v. Asst. DIT (International Taxation) (Pune) p. 342
F Where events taking place outside Indian territories, no tax to be deducted : Mahindra Forgings Ltd. v. Asst. DIT (International Taxation) (Pune) p. 342
F No tax to be deducted at source where expenses for cross border travel not arising in India : Mahindra Forgings Ltd. v. Asst. DIT (International Taxation) (Pune) p. 342
F Where installation charges forming integral part of purchase price of machinery, no tax to be deducted at source : Mahindra Forgings Ltd. v. Asst. DIT (International Taxation) (Pune) p. 342
F Capital gains : Where assessee having only one residential house at time of purchasing new house, entitled to exemption : Bharat Bhushan Panchal v. Asst. CIT (Delhi) p. 361
F International transactions : Price of prior year cannot be considered for determination of arm's length price in absence of current year data : Hapag Lloyd India P. Ltd. v. Deputy CIT (Mumbai) p. 375
F Depreciation : Depreciation at 60 per cent. allowable on computer peripheral items and software : Hapag Lloyd India P. Ltd. v. Deputy CIT (Mumbai) p. 375
F Personal computers not restricted to number of employees : Software installed on existing computer cannot be treated as excess : Hapag Lloyd India P. Ltd. v. Deputy CIT (Mumbai) p. 375
F Assessing Officer to verify calculation of mistake in computation of interest, matter remanded : Hapag Lloyd India P. Ltd. v. Deputy CIT (Mumbai) p. 375
F Where payment amounts to fees for included services, taxable under domestic law and Double Taxation Avoidance Agreement between India and Canada : AMD Research and Development Center India P. Ltd. v. Deputy CIT (Hyd) p. 397
F Where no ulterior motive on assessee to pay extra profit to parent company, denial of 50 per cent. payment of extra profit not justified : AMD Research and Development Center India P. Ltd. v. Deputy CIT (Hyd) p. 397
F Contributors to meet part of expenditure incurred in organising events, contributions not income of assessee : Deputy CIT v. Bombay Gymkhana Ltd. (Mumbai) p. 455
F Income from sale of complimentary liquor, commercial in nature, income assessable : Deputy CIT v. Bombay Gymkhana Ltd. (Mumbai) p. 455
F Commissioner passing well-reasoned order granting relief as requested by assessee, no interference called for : Wadia Institute of Himalayan Geology v. Addl. CIT (Delhi) p. 459 (8-5-2015)
F Details regarding source of deposits submitted by assessee requiring examination by Assessing Officer, mater remanded : Vaijayanthi Badri v. ITO (Cochin) p. 464 (15-5-2015)
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