S. 10A : Free trade zone-Expenditure incurred in foreign exchange on communication/internet charges are to be excluded from total turnover.
CIT .v. Ness Technologies (India) (P) Ltd (2019) 307 CTR 588 / 174 DTR 260 (Bom.)(HC)S. 10A : Free trade zone-Expenditure incurred in foreign exchange on communication/internet charges are to be excluded from total turnover.
CIT .v. Ness Technologies (India) (P) Ltd (2019) 307 CTR 588 / 174 DTR 260 (Bom.)(HC)S. 5 : Scope of total income–Interest on NPAs not taxable on accrual basis in the hands of a non-banking institution. [S. 43D, 145, RBI Act, ]S. 45Q]
Bhind District Co-operative Central Bank Ltd. v. IT Departments (2019) 177 DTR 196 / 106 taxmann.com 396 /309 CTR 316 / (2020)429 ITR 121 (MP)(HC)(MP)(HC)S. 2(31) : Person – Status of an entity incorporated abroad has to be determined even in India, according to the law of the country where the entity is incorporated. [S. 74, 80, 139(3)]
Aberdeen Institutional Commingled Funds LLC & Ors. v. AAR & Anr. (2019) 262 Taxman 346/ 177 DTR 1 / 308 CTR 287 / (2020) 421 ITR 183 (Bom.)(HC)S. 2(22)(e) : Deemed dividend- Income cannot be taxed in the hands of the shareholders unless it is shown that the monies have been received by them.-Alleged admission- Matter remanded [ S.254 (1) ]
Ramesh V. v. ACIT (2019) 177 DTR 105/ 104 taxmann.com 292 / 309 CTR 87/ ( 2020) 420 ITR 10 (Mad.)(HC) Ramu S. v. ACIT (2019) 177 DTR 105/ 309 CTR 87/ ( 2020) 420 ITR 10 (Mad.)(HC)S. 2(14)(iii) : Capital asset – Agricultural land – land sold being situated within municipal limits of Thanesar City – AO rightly considered land as non-agricultural land — Contention that benefit of S 54F is to be given could not be accepted since it was not raised before any of the lower authorities. [S. 45, 54F]
Gurdeep Singh v. PCIT (2019) 307 CTR 117 / 174 DTR 381 (P&H)(HC)S. 264 :Commissioner – Revision of other orders – Amount mistakenly paid as tax- Revision is not maintainable – Duty of the revenue to refund the amount- Substantial justice should prevail over technical considerations . [ S.119 ]
Karur Vysya Bank Ltd. v. CIT (2019) 416 ITR 166 / 311 CTR 824/ 184 DTR 8(Mad)( HC)S. 264 :Commissioner – Revision of other orders – Application for condonation of delay cannot be dismissed for technical reasons —Principle of substantial justice- Matter remanded . [ S.80P ]
Kammavari Credit Co-Operative Society Ltd . v. ACIT (2019) 416 ITR 180 (Karn)(HC)S. 158BFA : Block assessment – Penalty – Legal representative-
No proceedings for penalty for concealment of income was initiated against person prior to his death — Penalty cannot be imposed on legal representatives .[ S. 158BC, 159 271(1)( c ) ]
S. 147 : Reassessment –With in four years- Change of opinion- Details were submitted in the original assessment proceedings – Reassessment for purpose of verification and investigation is held to be not valid .[ S.148 ]
Jarun Pharmaceuticals Pvt. Ltd. v. ITO (2019) 416 ITR 249 (Guj)(HC)S.147: Reassessment-After the expiry of four years- Failure to disclose material facts – Reassessment notice is held to be valid- Disputed questions of facts — Alternative remedy of appeal – Notice of reassessment is held to be valid .[ S.148 , 151 , Art .226 ]
North Eastern Electric Power Corporation Limited And Another. v. CIT (2019) 416 ITR 205 / 182 DTR 233/ 310 CTR 856(Meghalaya) (HC)