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DATE: June 16, 2017 (Date of pronouncement)
DATE: June 22, 2017 (Date of publication)
AY: 2008-09
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CITATION:
S. 14A/ Rule 8D: (i) The computation under clause (f) of Explanation 1 to section 115JB(2) is to be made without resorting to the computation as contemplated u/s 14A read with Rule 8D of the Income tax Rules 1962, (ii) Only those investments are to be considered for computing the average value of investment which yielded exempt income during the year

(i) The computation under clause (f) of Explanation 1 to section 115JB(2) is to be made without resorting to the computation as contemplated u/s 14A read with Rule 8D of the Income tax Rules 1962. (ii) Only those investments are to be considered for computing the average value of investment which yielded exempt income during the year.

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DATE: March 3, 2016 (Date of pronouncement)
DATE: March 31, 2016 (Date of publication)
AY: 2009-10
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S. 271(1)(c): No penalty leviable on bonafide human error committed while filing return of income

When the assessee was confronted with the depreciation being claimed on the property, the income from which had been returned under the head income from house property, it immediately realized its mistake of computation of total income and agreed for the addition to its total income. The mistake was inadvertent, is evident from the fact that assessee had furnished return of income of Rs. 3,27,79,273/- and, therefore, there was no reason to make a false claim of a petty sum of Rs. 7,87,734/-

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DATE: March 11, 2016 (Date of pronouncement)
DATE: March 14, 2016 (Date of publication)
AY: 2008-09
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CITATION:
S. 9/ 44BB: Income received by a non-resident under a time charter agreement accrues and arises in india even when the vessel and crew are outside the territorial waters of India. Such income is assessable on a presumptive basis u/s 44BB

Gross payments are intricately linked to the services/works rendered by the assessee and arise due to the execution of contract in India, under the terms and conditions of the contract between the assessee and Siem Offshore Inc. The vessel was hired by the contract and it was only for this purpose that the vessel and the crew were involved in the said contract. Thus, it is improper on the part of the assessee to offer to tax its revenues only on a pro-rata basis based upon the number of days the vessel was stationed within 200 nautical miles from the Indian shore line. As the contract for the provision of crew was a continuing contract, it cannot be said that revenues were not earned for the period the vessel was out of the territorial waters of India. Hence, the entire contract amount is to be considered for the purpose of calculating the gross receipts and all receipts received against the execution of the contract would come under the purview of gross receipts. Thus, gross amounts for the months of November 2007, December 2007 and January 2008 are to be included in the gross receipts

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DATE: May 11, 2015 (Date of pronouncement)
DATE: June 2, 2015 (Date of publication)
AY: 2009-10
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CITATION:
S. 2(15)/11: Before any activity can be branded as being in the nature of trade or commerce, the AO has to demonstrate the intention of parties backed with facts and figures of carrying out activities with profit motive. Mere surplus from any activity which has been undertaken to achieve the dominant object does not imply that the same is run with profit motive. The intention has to be gathered from circumstances which compelled the carrying on the activity

The dominant object of the assessee is definitely for the well being of public at large by organizing various seminars for the welfare of people by disseminating knowledge in various fields in order to uplift the social consciousness of the society at large. Before any activity can be branded as being in the nature of trade or commerce, the AO has to demonstrate the intention of parties Backed with facts and figures of carrying out activities with profit motive. Mere surplus from any activity, which undisputedly has been undertaken to achieve the dominant object, does not imply that the same is run with profit motive. The intention has to be gathered from circumstances which compelled the carrying on an activity

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DATE: May 29, 2015 (Date of pronouncement)
DATE: June 1, 2015 (Date of publication)
AY: 2003-04 to 2008-09
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CITATION:
S. 143(2) and 153C notices issued in the name of the non-existent amalgamating company are void and render the assessment order null and void (entire case law discussed)

For making the assessment, it is absolutely essential that the person so to be assessed should be in existence at the time of making the assessment. In the present case the assessment has been framed by the AO on a date when the present assessee was not in existence therefore, the assessment framed by the AO vide assessment order dated 31.12.2010 was not valid

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DATE: May 15, 2015 (Date of pronouncement)
DATE: May 26, 2015 (Date of publication)
AY: 2009-10
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CITATION:
S. 192 vs/ 194-J: Tests to determine whether there is an employer-employee relationship explained

Determination of the vexed questions as to whether a contract is a contract of service or contract for service and whether the employees concerned are employees of the contractors has never been an easy task. No decision of this Court has laid down any hard-and-fast rule nor is it possible to do so. The question in each case has to be answered having regard to the fact involved therein. No single test – be it control test, be it organisation or any other test – has been held to be the determinative factor for determining the jural relationship of employer and employee

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DATE: September 23, 2014 (Date of pronouncement)
DATE: April 15, 2015 (Date of publication)
AY: 2004-05 to 2007-08
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S. 253: In a cross-objection, a new legal issue can be raised for the first time before the ITAT

There is no difference between an appeal and a cross-objection. In a cross-objection, a legal issue which has not been raised before the lower authorities can be raised. The C.O. need not be confined to the points taken by the opposite party in the main appeal

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DATE: November 13, 2014 (Date of pronouncement)
DATE: November 24, 2014 (Date of publication)
AY: 2002-03
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S. 253(3): Delay of 1163 days in filing the appeal due to languid and inane conduct of the assessee cannot be condoned as it would result in the limitation period becoming otiose

(i) We are of the view that there is an extraordinary delay of 1163 days in filing this appeal for which assessee has to show “sufficient cause” but the cause shown by the assessee may be considered a “sufficient cause” …

SRF Limited vs. ACIT (ITAT Delhi) Read More »

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DATE: November 14, 2014 (Date of pronouncement)
DATE: November 18, 2014 (Date of publication)
AY: 2003-04 to 2008-09
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S. 153A/ 153C: Entire law on recording of satisfaction by the AO and limitation period explained

(i) It must not be lost sight of that s. 153C of the Act and 158BD of the Act are draconian in nature when accounts of the person or entity other than the person searched are reopened automatically and revenue …

ACIT vs. Inlay Marketing Pvt. Ltd (ITAT Delhi) Read More »

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DATE: November 5, 2014 (Date of pronouncement)
DATE: November 8, 2014 (Date of publication)
AY: 2009-10
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CITATION:
S. 153C: Date of receiving seized documents is the "date of initiation of search" and six years period has to be reckoned from that date. An assessment order passed u/s 143(3) instead of u/s 153C is void

A search in the case of Koutons took place on 19.02.2009 (AY 2009-10). The documents belonging to the assessee which were found during the search were handed over to the AO having jurisdiction over the assessee on 16.06.2009 (AY 2010-11). …

Jasjit Singh vs. ACIT (ITAT Delhi) Read More »