Income Tax judiciary-2

Penalty / Fine for Traffic Violation not allowable

Aparna Agency Ltd. v. Income-tax Officer (ITAT Kolkata)

It is clear from the statutory provisions of the MV Act as well as the law laid down in judicial pronouncements that payments made for any purpose which is an offence or which is prohibited by law and which are not compensatory in nature cannot be allowed as a deduction u/s.37(1) read with Explanation thereto. ...

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TDS on post film production services outside India by foreign Company

Red Chillies Entertainment Pvt. Ltd. Vs ACIT.(TDS) (ITAT Mumbai)

The undisputed fact is that ‘VHQ’, i.e. the recipient merely carried out post production activities. Nothing has been brought before us to indicate or show that in the process of carrying out any work, whether any technical knowledge, experience, skill, know-how or process was made available to the assessee....

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TDS not applicable on Hotel Rent in absence of any contract

Red Chillies Entertainment Pvt. Ltd. Vs ACIT.(TDS) (ITAT Mumbai)

Where earmarked rooms are let out for specified rate and specified period, only then, they will be construed to be accommodation made available on regular basis...

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TDS U/s. 194C applicable on taking out final negative of films

Red Chillies Entertainment Pvt. Ltd. Vs ACIT.(TDS) (ITAT Mumbai)

It has been submitted that taking out of the final negative of the films does not involve rendering of any technical or professional services. Therefore, TDS is required to be deducted u/s 194C....

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TDS deductible U/s. 192 instead of 194J if employee- employer relationship exist

Red Chillies Entertainment Pvt. Ltd. Vs ACIT.(TDS) (ITAT Mumbai)

Remuneration paid to six professionals engaged by the company was liable for deduction of tax at source u/s 192 as the same was in the nature of salary as against the claim of the assessee to deduct tax u/s 194J on these payments on the ground that these persons were acting in the capacity of independent professionals and not as employee ...

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SC on depreciation on leased immovable property in absence of registered deed

Mother Hospital Pvt. Ltd Vs CIT (Supreme Court of India)

It is only when the assessee holds a lease right or other right of occupancy and any capital expenditure is incurred by the assesee on the construction of any structure or doing of any work in or in relation to and by way of renovation or extension of or improvement to the building and the expenditure on construction is incurred by the as...

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Scholarship paid for pursuing studies abroad is Charitable Expense

Seth Anandram Jaipuria Edu. Society Cantonment Vs CIT (Allahabad High Court)

Payment of Scholarship by Charitable Trust for pursuing Engineering course from University of California, Los Angeles, USA in accordance with its objects is ‘Charitable Expenditure...

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No disallowance U/s. 14A unless Assessee earns exempt Income during relevant previous year

Red Chillies Entertainment Pvt. Ltd. Vs Asstt. Commissioner of Income Tax (ITAT Mumbai)

ITAT followed Delhi High Court in Cheminvest and held that, unless during the relevant previous year, assessee earns any exempt income no disallowance under section 14A r/w rule 8D can be made....

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Cost incurred in abandoned projects should be allowed : ITAT Mumbai

Red Chillies Entertainment Pvt. Ltd. Vs Asstt. Commissioner of Income Tax (ITAT Mumbai)

In CBDT circular no.16 of 6th October 2015, the Board has clearly stated that cost incurred in abandoned projects should be allowed as revenue expenditure under section 37 of the Act....

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Investment in unrecorded stock taxable as ‘Business Income’

Bajargan Traders C/o Kalani & Co. Vs The ACIT (ITAT Jaipur)

ITAT held that amount surrendered by way of investment in the unrecorded stock of rice has to be brought to tax under the head business income. It Further held that Only real income can be taxed, hypothetical income cannot be taxed nor income can be taxed in vacuum....

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