S. 10(26AAB) : Income of an agricultural produce market committee-Agricultural produce to be given a wider meaning.
ITO v. Fish Poultry & Egg Marketing Committee (2019) 179 DTR 137 / 109 taxmann.com 17 (Delhi)(Trib.)S. 10(26AAB) : Income of an agricultural produce market committee-Agricultural produce to be given a wider meaning.
ITO v. Fish Poultry & Egg Marketing Committee (2019) 179 DTR 137 / 109 taxmann.com 17 (Delhi)(Trib.)S. 10(26) : Exemption to member of a Scheduled Tribe-Allowability-Individual vis-a-vis partnership firm-Since partnership firm is not a member of a scheduled tribe-Such firm not entitled to exemption under S. 10(26)-but its partners are eligible for the same. [Art. 366, General Clauses Act, 1897, S. 13]
Hotel Centre Point v. ITO (2019) 182 DTR 297 / 201 TTJ 913 (Gau.)(Trib.)S. 9(1)(vi) : Income deemed to accrue or arise in India–Royalty/ Fees for technical services-Access to online database is not royalty/Fees for technical services. [S.9(1) (vii )]
Elsevier Information Systems GmbH v. Dy. CIT(IT) (2019) 180 DTR 147 / 202 TTJ 831 (Mum.)(Trib.)S. 9(1)(i) : Income deemed to accrue or arise in India–Permanent establishment–Liaison office of assessee did not constitute PE-Income is not chargeable to tax in India. [Art. 5]
Nagase and Company Ltd. v. ADIT (2019) 109 taxmann.com 288 / 180 DTR 1 / (2020) 205 TTJ 68 (Mum.)(Trib.)S. 5 : Scope of total income–Actual income reported cannot be substituted with notional figures. [S. 4, 145(3)]
JCIT v. Flipkart India (P) Ltd. (2019) 73 ITR 392 / 180 DTR 49 (Bang.)(Trib.)S. 4 : Charge of income-tax–Capital or revenue-Interest subsidy received under TUFS (Technology Up gradation Fund Scheme), is capital in nature.[S. 28(i)]
Vardhman Textiles Ltd. v. DCIT (2019) 183 DTR 477 / 202 TTJ 750 (Chd.)(Trib.)S. 2(14)(iii) : Capital asset-Agricultural land-Exemption-Village Administrative Officer Confirming Land Agricultural At Time Of Transfer-AO to adjudicate issue afresh after enquiries and verifications with local authorities and of area-Reassessment is held to be valid. [S.10(37), 69, 147, 148]
Anthiah Pancras v. ITO (2019) 76 ITR 50 (Chennai)(Trib.)S. 223 : Collection and recovery – Tax Recovery Officer – Charge over property – Attachment of property under Schedule II- Unless there is preference given to the Crown debt by a statute, the dues of a secured creditor have preference over Crown debts- As a charge over the property was created much prior to the notice issued by the TRO under Rule 2 of Schedule II to the Act and the sale of the property was pursuant to the order passed by the DRT, the sale is valid . [ S.222 ]
Connectwell Industries Pvt. Ltd. v. UOI ( 2020) 424 ITR 18/ 187 DTR 393/ 313 CTR 601 / 272 Taxman 1 (SC) www.itatonline.orgS. 220 : Collection and recovery – Assessee deemed in default – Strictures – Tax recovery – Stay – Gross suppression and misstatement, which led to a false projection of the outstanding liability due from the petitioner -Sought adjournment before CIT(A) without seeking modification of earlier order – Cost of Rs 5 lakh imposed -Petition is dismissed .[ S.220(6) Art .226 ]
Indus Tower Ltd. v. ACIT (Delhi)(HC), www.itatonline.org Editorial : The Supreme Court has stayed recovery of the demand ,Indus Tower Ltd. v. ACIT (SLP No 9011/2020 dt 6-03 -2020) (SC)S. 69: Undisclosed investments – Bogus capital gains – Penny stocks- Explanation is not sufficient to discharge the liability – Addition is restricted to 30% with a rider that same shall not be treated as a precedent in any other assessment year. [ S.10 (38), 45, 68 143(3) ]
Neha Chowdhary v. ITO (SMC) (Kol)(Trib), www.itatonline.org