ITAT Mumbai has held in the case of Hasmukh N. Gala vs. ITO that Giving advance to builder constitutes ‘purchase’ of new house even if construction is not completed and title to the property has not passed to the assessee within the prescribed period.
ITAT Hyderabad held In the case of VITP Pvt. Ltd vs. DCIT that as per sub-rule (4) of Rule 18C of Income Tax Rules, it is clear that on approval by the central govt., CBDT is only required to notify the industrial park for benefit u/s 80IA (4)(iii).
ITAT Ahmedabad held In the case of Shri Isharbhai Chotabhai Patel Vs. CIT that ld. Commissioner not justified in interfering in the discretion exercised by the AO without any plausible reason. The estimated opinion formed by the AO can only be interfered
In the case ITO Vs. M/s. Nupur Carpets Pvt. Ltd. the Hon’ble Kolkata ITAT held by converting the stock-n-trade into investment, it does not alter the character, nature and intention of that particular transaction especially in the context of capital gain versus business income.
In the case DCIT Vs. Maithan Smelters Ltd. the Hon’ble Kolkata ITAT held that the interest subsidy, transport subsidy and power subsidy received by the assessee are eligible for deduction u/s 80IB of the Act.
The Assessee had paid a sum of Rs.9,22,160/- on account of Sewing and Processing Charges without deducting TDS on the same. The AO invoked the provisions of Section 40(a)(ia) of the Act and disallowed the entire amount paid on account of Sewing and Processing Charges.
In the case Manoj Garg Vs. ITO the Hon’ble Kolkata ITAT held that both Central Excise Refund and Sales Tax Remission are eligible deductions u/s 80IC and that the CIT was not justified in initiating proceedings u/s 263 of the Act
In the case Shri B L Dasraj Urs Vs. ITO the Hon’ble Bangalore ITAT held that show cause notice u/s 274 is defective if it does not spell out the grounds on which penalty is sought to be imposed.
In the case ITO Vs. Smt. Mala Gupta the Hon’ble Kolkata ITAT held that slight difference in the name of the person does not mean that it is not the same person provided the genuineness of the transaction is proved.
The ITAT New Delhi in the case of Mitsubishi Corporation India has ruled that the non-discriminatory clause is not applicable only for the limited purpose of transfer pricing adjustments and other additions to income can be removed by taking benefit of non-discriminatory clause of India-Japan DTAA.
