"29 April 2018" Archive

CBDT should investigate arm twisting measures adopted by Revenue for tax recovery: HC

The Shri Saibaba Sansthan Trust Vs. The Union of India (Bombay High Court)

Shri Saibaba Sansthan Trust (Shirdi) Vs. UOI (Bombay High Court) The allegations with regard to the CIT(A) mentioning of incorrect dates in the order sheet and the office of the CIT[E] threatening to attach the Petitioner’s bank account and reopen Assessments for the last two years in case it fails to deposit the amount of […...

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Late Deposit of TDS : HC cannot question and decide question of validity of Sanction Order on merits of reasonable cause etc.

Indo Arya Central Transport Limited & Ors. Vs. Commissioner Of Income Tax (TDS) (Delhi High Court)

Indo Arya Central Transport Limited & Ors. Vs. CIT – TDS (Delhi High Court) HC held that At this stage, it will neither be fair nor proper for the writ court to question and decide the question of validity of Sanction Order on merits of reasonable cause etc. as it would amount to a pre […]...

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Maintenance charges deductible in ALV calculation of Let Out House Property

Krishna N Bhojwani, Vs. Asstt. (ITAT Mumbai)

Krishna N Bhojwani, Vs. ACIT (ITAT Mumbai) While calculating annual value of the let out property, maintenance charges paid to the society by the assessee is admissible deduction from the annual let out value under section 23(1)(b). Hence, disallowance made by AO was not justified. FULL TEXT OF ITAT ORDER IS AS FOLLOWS: The captioned [&he...

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Additional depreciation eligible on wind turbine generators used for generation of electricity

Wind World India Infrastructure (P) Ltd. Vs. Pr. CIT (ITAT Mumbai)

Wind World India Infrastructure (P) Ltd. Vs. Pr. CIT (ITAT Mumbai) Assessee contended that wind turbine generators were used for generation of electricity, which is akin to manufacturing of an article or thing as the electricity is intangible and its effect can be seen and felt, transferred, delivered, stored, processed, etc. It was, thus...

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SC Rejects plea of Firm Linked to Robert Vadra in Tax Evasion Case

Sky Light Hospitality LLp Vs Assistant Commissioner of Income Tax (Supreme Court of India)

Supreme Court dismissed SLP filed by the Sky Light Hospitality LLP firm linked to Mr. Robert Vadra, challenging notice issued by the Income Tax Department for reassessment of its profits from the land deals in Haryana and Rajasthan in 2010-2011....

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No Service Tax on Sale of Prospectus not as its not a Part of Commercial Training or Coaching Services

True Education Institute Pvt. Ltd. Vs. Commissioner of Service Tax, (CESTAT Mumbai)

Prospectus is only for the purpose of screening of students by way of Admission Screening Examination and is not a part of the services. The student only by filling of prospectus does not become entitled to get coaching from the Appellant. ...

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Reopening based on mere Tax Audit report Filed during Scrutiny Proceedings is Invalid

Mahanadi Coalfields Ltd. Vs ACIT (ITAT Cuttack)

Mahanadi Coalfields Ltd. Vs. ACIT, (ITAT Cuttack) In the present case found that thee Assessing Officer has initiated reassessment proceedings on the same facts which were available before him at the time of making assessment u/s.143(3) of the Act and no new tangible material has come on the basis of which it could be said […]...

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Deduction U/s. 80-IB(10) not eligible if return not filed within due date, as prescribed U/s. 139(1)

Dy.CIT Vs M/s.Siroya.Developers (ITAT Mumbai)

This appeal by the Revenue is against the order of the Commissioner of Income-tax (Appeals) dated 03-09-2011 passed against the assessment order passed u/s 143(3) dated 21-12-2010 and is filed on the following grounds...

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Exemption U/s 54/54F eligible on Basement forming part of residential house

ACIT Vs Shri Shrey Sharma Guleri Prime Channel Software Communications P. Ltd. (ITAT Mumbai)

ACIT v. Shrey Sharma Guleri (ITAT Mumbai) The argument of the learned D.R. is that the basement in the house cannot be termed as a residential house within the provisions of section 54 of the Act. On the other hand, the ld. counsel for the assessee defended the conclusion drawn in the impugned order. It was pleaded that basement is par...

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TDS Rates for FY 2018-19

Tax Deduction At Source, its Provisions and its revise rates for FY: 2018-19  TDS: The concept of TDS was introduced with an aim  to collect tax from the very source of income. As per this concept, a person (deductor) who is liable to make payment of specified nature to any other person (deductee) shall deduct […]...

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