Year: 2020

Archive for 2020


ITO v. Bongu Janardhan Rao (2019)75 ITR 214 (Hyd.)(Trib.)

S. 54F : Capital Gain–Hindu Undivided Family (HUF)-Property purchased in the name of individual for convenience–Part of the common pool–Protected assessment attains finality-Same income cannot be taxed twice again.

Anil Vijay v. ITO (2019)76 ITR 315 (Jaipur)(Trib.)

S. 54F : Capital gains-Investment in a residential house-Assessee Incurring Expenditure within stipulated period and constructing house incurring cost of construction-Rejection of claim without enquiry to verify actual cost of construction and period of construction of house is not justified. [S. 45]

ACIT v. Ramani Joseph (Smt.) (2019) 179 DTR 338 / 200 TTJ 522 (Chennai)(Trib.)

S. 54F : Capital gains-Investment in a residential house– Deduction under 54 and 54F can be claimed on the sale of one property. [S. 45, 54]

Vijay Kumar Patni v. ITO (2019) 73 ITR 36 / 201 TTJ 885 / 181 DTR 1 (Jaipur)(Trib.)

S. 50C : Capital gains–Full value of consideration–Stamp valuation –FMV to be determined based on prevailing rate in the area as well as comparable sale instances–Matter remanded [S. 45]

Peerless General Finance and Investment Co. Ltd. v. DCIT (2019) 76 ITR 356 (Kol.)(Trib.)

S. 48 : Capital gains-Computation-Cost of acquisition-Indexation benefit on debt instruments-Government securities different from bond and debenture for purpose of third proviso to S.48-Benefit of indexation should be granted to assessee on redemption of government securities. [Public Debt Act, 1944. S. 2(a)(i)]

Asha Luthra (Ms.) v. ITO (2019) 76 ITR 432 (Delhi)(Trib.)

S. 45 : Capital gains-Gains from equities-Entire documentary evidence not disputed and no rebuttal to explanation of assessee-no adverse materials against assessee-No proper enquiry conducted on documentary evidence filed-Assessee entering into genuine transaction of sale and purchase of shares-Entitled to exemption. [S. 10(38), 68, 115BBE].

Integra Software Services Pvt. Ltd. v. DCIT (2019) 76 ITR 491 / (2020) 181 ITD 512/ 194 DTR 25/ 207 TTJ 326(Chennai)(Trib.)

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Copy editing, indexing and proof reading requiring only knowledge of language and not expertise in subject matter of text-Services rendered by Non-residents not Technical Services-Not liable to deduct tax at source-No disallowances can be made. [S. 195(6)]

JLC Electromet P. Ltd. v. ACIT (2019) 75 ITR 13 / 201 TTJ 811 / ( 2020) 182 ITD 509 (Jaipur)(Trib.)

S. 40(a)(ia) : Amount not deductible-Deduction of tax at source–Payments to Non-resident–Services rendered outside India– Payments outside India-Not taxable in India-No disallowance can be made.0 OECD Model Convention – Art, 7 [S. 5, 9, 195]

Dy. CIT v. Integra Software Services Pvt. Ltd. (2019) 76 ITR 491/ (2020) 181 ITD 512 / 194 DTR 25 / 207 TTJ 326 (Chennai) (Trib)

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Non-resident-Copy editing, indexing and proof reading requiring only knowledge of language and not expertise in subject matter of text-Services rendered by non-residents not technical services-Tax deduction is not required-No disallowance can be made. [S. 9(1)(1), 195(6)].

Integra Software Services Pvt. Ltd. v. DCIT (2019) 76 ITR 491/ (2020) 181 ITD 512 / 194 DTR 25/ 207 TTJ 326(Chennai)(Trib.)

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Copy editing, indexing and proof reading requiring only knowledge of language and not expertise in subject matter of text-Services rendered by Non-residents not Technical Services-Not liable to deduct tax at source-No disallowances can be made. [S. 195(6)]