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Stemade Biotech P.Ltd v. Dy .CIT (Mum) (Trib)
Mumbai ITAT: S.37(1): Business expenditure – Referral commission paid to doctors – Violation of the professional conduct- Not allowable as deduction. [Indian Medical Council (Professional Conduct Etiquette and Ethics) Regulations 2002, R. 6.8. 1(d)] The assessee is a company engaged in the business of ‘extraction, collection, preservation and banking of stem cells ‘mainly from dental pulp. The… Read More ...
jay Chemical Industries limited vs. DCIT (ITAT Ahmedabad)
Ahmedabad ITAT: The AO cannot her self make TP addition case is to be referred to TPO in view of madnatory direction of CBDT Read More ...
Harsh Kaushal Corporation vs. ITO (Bombay High Court)
Bombay High Court: Section 147 – Reopening beyond four years – Reopening done to tax deemed rental income relying on Delhi High Court decision in CIT vs. Ansal Housing Finance and Leasing Company Ltd (2013) 354 ITR 180 – Held reopening is bad in law as all primary facts disclosed during original assessment proceedings-Recorded reasons do not state… Read More ...
Divya Capital One (P) Ltd. v. ACIT (Delhi High Court)
Delhi High Court : S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Order passed without considering the replies of the assessee-Assessed income was Rs. 10,07,05,88,04,543) Rupees One lakh seven hundred and five crores eighty lakhs four thousand five hundred and forty -three only)-Information to suggest-arbitrary, cryptic and without application of mind-not considering the response of the Assessee-Mechanical… Read More ...
Blackstone FP Capital Partners Mauritius V Ltd. v. DCIT (ITAT Mumbai)
Mumbai Tribunal : S. 90 : Double taxation relief-Long term capital gains-Transfer of shares-Beneficial Owner-cannot be assumed or inferred-AO to decide whether the concept of “beneficial owner” is inbuilt in the scheme of Article 13-Matter remanded-DTAA-India-Mauritius. [S. 143(3), 154, Art. 10, 11, 13(4)] Assessing Officer held that the income of Rs. 904.98 crores earned by the assessee is… Read More ...
ITO (Exemption) vs Innovative Welfare and Educational Society (ITAT Delhi)
Income Tax Appelate Tribunal Delhi, Bench "C", New Delhi: That the ‘return of income’ under section 148 can’t be treated as non-est even if filed beyond the time period specified in the notice under section 148. Because the AO has passed the order u/s 143(3) of the Act and not u/s 144 of the Act. The AO has proceeded with the return filed in… Read More ...
CCE Banglore Vs Northern Operating Systems Pvt ltd (Supreme Court)
Supreme Court : CCE Banglore Vs Northern Operating Systems Pvt ltd (Supreme Court) Date-19th May 2022 Sub-Services of employees of Overseas group company received by the Indian counter part on secondment held to be manpower services liable to be taxed under the service tax regime, though extended period of limitation held not liable to be involved. The Supreme… Read More ...
Gopalakrishnan Rajkumar & Anr Vs The Principal Commissioner of Income-tax, Chennai-8 & others (Madras High Court)
MADRAS HIGH COURT: The intention of the parliament enacting the DTVSVS being to bring a closure of disputes in respect of tax arrears the PCIT is wrong in initiating proceedings under Section 263 after the assessee filed Form-4. It would be a different situation if the assessee had not accepted with the issue of Form 3. Read More ...
DIVYA CAPITAL ONE PRIVATE LIMITED vs. ACIT (Delhi High Court)
Delhi High Court: Delhi high court coming down heavily on income tax deptt for passing general /template orders u/s 148A(d) (copy of order marked to cbdt for necessary action) and inter alia held SIGNIFICANCE OF ISSUANCE OF A SHOW CAUSE NOTICE AT A STAGE PRIOR TO ISSUANCE OF A REASSESSMENT NOTICE UNDER SECTION 148 OF THE ACT HAS… Read More ...
Divya Capital One Pvt ltd Vs ACIT Delhi (Delhi High Court)
Delhi High Court: Divya Capital One Pvt ltd Vs ACIT Delhi(Delhi High Court) Date-12th May 2022 Sub- Order passed u/s 148A(d) without considering the submissions- effect of. Relevance of GKN Driveshaft in the context of new law. The delhi high court in this case was considering a WP against an order which was passed u/s 148A(d) where the… Read More ...