Judiciary

Interest Tax on interest on securities / head office investment a/c not applicable before 14.3.1995

CIT Vs M/s H.P. State Co-operative Bank Ltd (Himachal Pradesh High Court at Shimla)

Interest on securities and interest on head office investment account was made chargeable pursuant to Board’s instructions No. 1923 dated 14.3.1995 and as such, this Court sees no occasion for assessee Bank to declare same in its profit and loss account, wherein it had declared interest of Rs. 39.98 Crores, on approved securities for th...

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Expense can be claimed despite stay against the same by court

National Agricultural Co- Operative Marketing Federation of India Ltd. Vs CIT (Delhi High Court)

order which has been stayed would not be operative from the date of the passing of the stay order and it does not mean that the said order has been wiped out from existence....

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FBT leviable on expense on Sales Promotion, Free Samples, Gift etc

Gujarat Chamber of Commerce & Industry Vs Union of India thro' secretary (Gujarat High Court)

When the language of Section 115WA and 115WB is clear and unambiguous and even the intention of the legislature while enacting sections 115WA and 115WB(2) is very clear i.e. with respect to the deemed fringe benefits, neither there is any scope for either literal and/ or purposive interpretation nor there is any occasion to consider the i...

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Amount Deducted for Notice Period is not Taxable as Salary

Shri Nandinho Rebello Vs DCIT (ITAT Ahmedabad)

It is pertinent to note that the assessee has actually received the salary from his previous employers after deducting the notice period as per the job agreement with them. Therefore, in our considered view, the actual salary received by the assessee is only taxable....

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Sec 40(a)(ia) amendment extending TDS payment due date U/s. 139(1) is Retrospective

The Commissioner of Income Tax­ Vs Shraddha & S S Kale, Joint Venture (Bombay High Court)

Amendment to Section 40 (a)(ia) of the Act by Finance Act, 2010 is retrospective with effect from 1st April, 2005 as held by various High Courts....

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Demonitisation effect: HC condones delay in deposit of Court Fees

Prashant Sahu Vs Vijay Kumar Chourasiya (Madhya Pradesh High Court)

The complainant submits that because the complainant was to deposit the court fees, but due to financial insufficiency suffered by him, he could not make the deposit at the relevant time. It is also contended that during the said period, the Demonetisation was also in force, therefore, his non-deposit of the court fees be condoned and set...

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No TDS on Expense Reimbursement under Mutual Agreement between Entities

DCIT Vs M/s KPMG C/o KPMG House, (ITAT Mumbai)

Thus, the concept of Mutuality postulates that all the contributors to the common fund must be entitled to participate in the surplus and that all the participators in the surplus are contributors to the common fund. It is in this sense that the law postulates that there must be a complete identity between the contributors and the partici...

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RTI Information cannot be denied under the excuse of Missing file

Balendra Kumar Vs PIO, M/o Labour & Employment (Central Information Commission)

The complainant sought details with regard to the file notings of all corresponding papers of file no. DGE&T-A-32013/1/1996-Adm-II. The CPIO replied by stating the concerned file was not traceable. First appeal was filed. The FAA vide his Order dater 11.08.2015...

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Purchase cannot be held bogus for Mere Non-Appearance of Supplier

M/s Beauty Tax Vs DCIT (ITAT Jaipur)

Merely non-appearance of the supplier in absence of any other corroborate evidence cannot be a basis to justify the stand of the Revenue that the transaction of purchase is bogus....

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IT Exemption cannot be denied to South Indian Film Chamber of Commerce

Deputy Director of Income Tax Vs M/s. South Indian Film (ITAT Chennai)

In this appeal filed by the Revenue, it is aggrieved that ld. Commissioner of Income Tax (Appeals) allowed the assessee claim for its exemption u/s.11 of the Income Tax Act, 1961 (in short BC the Act CC). Appeal has been filed with a delay of ten days. Condonation petition has been filed. Delay is condoned and appeal admitted....

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