"April, 2017" Archive

Search Assessment void if no Incriminating Material found during Search

ACIT Vs Superb Developers (P.) Ltd. (ITAT Delhi)

In the absence of any incriminating material unearthed during the course of search, the AO had no jurisdiction to initiate proceedings u/s 153A of the Act when no assessment proceedings were pending for this....

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Fired from Job for being drunk on the way to duty is Shockingly Disproportionate: HC

M.G.Venu Vs Sbi Life Insurance Company Limited (Kerala High Court)

An employee wins a foreign jaunt; apart from the pleasure pursuit, the employee will undergo training abroad. On board the flight bound overseas, the employee is found drunk, too much. He is deplaned. The employer treats it as grave misconduct, punishes him —with removal from service. Is the punishment shockingly disproportionate...

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Burden of proving Genuineness of Anonymous Donation is on Trust

Madhavi Raksha Sankalp Nirmal Niketan Vs The Dy. Director of Income Tax (ITAT Mumbai)

Assessee to prove that it is covered by exceptions to chargeability to tax as is provided by provisions of Section 1 15BBC of 1961 Act, namely that the assessee maintained a record of the identity indicating the name and address of the person making such contribution and such other particulars as may be prescribed or else it is a religiou...

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Expenditure on website is revenue in nature and is allowable

Pr. Commissioner of Income Tax Vs Zydus Wellness Limited (Gujarat High Court)

Delhi High Court in the case of CIT vs. Indian Visit Com Pvt Ltd (176 Taxman 164) held that in case of expenditure on website, there is no change in the fixed assets of the assessee and no asset has been created but it is a tool for facilitating the business of the assessee and therefore, held expenditure of website to be of revenue natur...

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Value of broken bottles need not be reduced from WDV to calculate STCG

CIT Vs M/s. Alankar Business Corporation Ltd. (Madras High Court)

Value of the broken bottles need not be reduced from the written down value for the purpose of calculation of short term capital gains arising from sale of bottles....

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Transfer of case from Delhi to Noida without disposing Appellants objection is invalid

Y. K. Gupta Vs Union of India And 4 Others (Allahabad High Court)

While scrapping an order transferring a case from Delhi to Noida, the division bench of the Allahabad High Court held that the holding of the office of a director by the petitioner and his admission to the undisclosed income are not sufficient grounds for transferring a case under section 127 of the Income Tax Act....

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HC not accepted standard excuses of dept. for delay in appeal filing

Pr. Commissioner of Income Tax Vs Diana Builders & Contractors pvt. Ltd. (Delhi High Court)

The Court finds that the standard excuse that the Department is putting forth in all such applications for condonation of delay in re-filing the appeal is two-fold. The first is regarding the budgetary constraints of the Departmen...

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Amount paid to village elders to help settle land disputes is allowable

Shri K.A Sai Prasad Vs Shri K.J. Rao, DR (ITAT Hyderabad)

It is not uncommon that village elders intervene and settle the land disputes to safeguard the law and order and protect the peaceful atmosphere of the village. ...

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IPL Sponsorship expenses allowable as Revenue Expenditure

ACIT Vs M/s.Samudra Developers Pvt. Ltd. (ITAT Mumbai)

expenditure incurred for organizing sports events are allowable items of revenue expenditure as such events publicise the names of the sponsor....

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UDAN: Minimum Government For Maximum Impact

UDAN (Ude Desh ka Aam Naagrik) program is designed to jump-start the regional aviation market by improving profitability of under-developed regional routes....

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May 2021