"15 April 2018" Archive

Cenvat credit eligible on expense for Repair & Maintenance of Plant & Machinery Eligible

CCE-Kutch (gandhidham) Vs Almac Enterprise (CESTAT Ahmedabad)

CCE Kutch (Gandhidham) Vs. Almac Enterprise (CESTAT Ahmedabad) Repair and maintenance of plant and machinery is an activity without which smooth manufacturing is not possible. Commercially, manufacturing activity is not possible with malfunctioning machines, and leaking tanks, pipes and tubes....

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Provision for doubtful advances not allowable as Bad debts U/s. 36(1)(vii)

Elite International (P.) Ltd. Vs ACIT (ITAT Mumbai)

As we are dealing with admissibility of expenditure u/s 37 and not u/s 36(i)(vii) according to which, there must be an expenditure at the first instance which has crystallized during the impugned AY as against deduction u/s 36(i)(vii) which is allowable to the assessee the moment bad debt is written off in the books of accounts, notwithst...

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Notice U/s. 143(2) by AO not having jurisdiction over assessee is irrelevant

ITO Vs. NVS Builders Pvt. Ltd (ITAT Delhi)

The contention of the Ld. D.R. has no merit that ITO, Ward-1(1), Faridabad was empowered to issue notice as per PAN or it was issued as per Computerized System of the Department because it is against the provisions of Law. As such the issue would be in violation of the principles of law and as such the internal procedure provided by the ...

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Building under construction cannot be taxed as deemed let out property

CIT Vs M/s. National Engineering Industries Ltd. (Calcutta High Court)

Building being under construction during relevant previous year, the same could not be taxed applying provision of Section 23(1)(c) of Income Tax Act, 1961. ...

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Sec 10A / 10B: Bar in section 92CA(4) not applies to suo motu TP adjustments

Approva Systems Pvt. Ltd Vs. DCIT (ITAT Pune)

Approva Systems Pvt. Ltd Vs. DCIT (ITAT Pune) Now, coming to the second claim of deduction under section 10B/10A of the Act on TP adjustment of Rs 64,07,399/-. The assessee on its own motion had offered adjustment on account of transfer pricing provision to the extent of Rs 64,07,399/-. The computation of income is placed […]...

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TDS U/s. 194J not deductible on interconnect usage charges

M/s Tata Teleservices Ltd Vs. Income Tax Officer (ITAT Delhi)

Payment for IUC Charges is not chargeable to tax in India in the hands of the non-resident recipients and hence TDS was not deductible as per provisions of section 195 of the Act....

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Service tax liability cannot be determined based on mere P&L A/c

Firm Foundations Vs Principal Commissioner (Madras High Court)

The Writ Petitioner prays for a Writ of Certiorari calling for the records of Order-in-Original dated 21.04.2017 passed by the respondent and quashing of the same as arbitrary and illegal....

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Limitation period for revision petition U/s. 264 starts from the day assessee receives intimation U/s. 143(1)

Hargovind Pandey Vs Pr. CCE (Delhi High Court)

The challenge in this writ petition is to an order dated 21stDecember, 2016 passed by the Principal Commissioner of I ncome Tax (PCIT) rejecting the Petitioners application under Section 264 of the Income Tax Act, 1961 (Act) on the ground of limitation....

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Section 115JB benefit cannot be denied to a corporation for mistake of official in Return

Income Tax Officer Ward Vs Bihar State Financial Corporation (Patna High Court)

The statutory benefit accruing to the Corporation by virtue of Section 115JB cannot be denied and in doing so, the learned Tribunal has not committed any error and we find no substantial question of law, warranting reconsideration. ...

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Mere admission of estimated income made during survey has no evidentiary value

Shri Amod Shivlal Shah Vs ACIT (ITAT Mumbai)

Shri Amod Shivlal Shah Vs ACIT (ITAT Mumbai) Assessments ought not to be based merely on the confession obtained at the time of search and seizure and survey operations, but should be based on the evidences/material gathered during the course of search/survey operations or thereafter, while framing the relevant assessments....

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