Michael E Desa Vs ITO (ITAT Mumbai) Undoubtedly, when the object of a contract is illegality or something which would frustrate the law, such a contract will be void, but then minimisation of tax liability, as long as it is through legitimate tax planning and without using colourable devices, is not at all illegal; it […]
Moserbaer India Ltd. Vs DCIT (ITAT Delhi) Section 238 of IBC 2016 will have overriding effect over all other Central and State statutes including the Income-tax Act and all the claims including claim of the Income-tax Department under the Income-tax Act, 1961 shall be entertained by the Official Liquidator u/s 53 (1) of the Code. […]
ACIT Vs National Accreditation Board for Testing and Calibration (ITAT Delhi) Expression ‘charitable purpose’, as defined in section 2(15) cannot be construed literally and in absolute terms. It has to take colour and be considered in the context of section 10(23C)(iv) of the said Act. It is also clear that if the literal interpretation is […]
If the primary or dominant purpose of an institution is charitable than any other object which by itself might not be charitable but just merely ancillary or incidental to the primary or dominant purpose, would not prevent the trust or institution from being a valid charity.
Shell India Markets Private Limited Vs ITO (ITAT Mumbai) Assessee’s claim that it has acquired mere user right in copyrighted article and thus the payments in question are not to be considered as royalty, is not tenable. As there is transfer of copyright right between the assessee and the SIBV, the payments made by the […]
Waters (India) Private Limited Vs DCIT (ITAT Bangalore) It is settled position of law that computer and its accessories and peripherals are entitled to higher rate of depreciation of 60%. The CIT(A) held that the assessee is entitled to depreciation of 60% on printer and 15% on UPS by holding that UPS is not part […]
Dove Consultants Pvt. Ltd. Vs DCIT (ITAT Delhi) Reopening Based on Information must be Reliable and Some Evidence to Believe Purchase as Bogus, Proceedings Quashed By Delhi ITAT We have considered the rival contentions of both the Ld. Representative of the parties. A perusal of the reasons recorded for reopening of the assessment (as reproduced […]
ACIT Vs Prakash Industries Ltd. (ITAT Delhi) Any incriminating material or documents found during the course of first search cannot be utilized while framing the assessments in pursuance of the second search in case of no assessment order passed consequence of first search Here in this case, in the letter dated 10.03.2021 filed by the […]
Perfetti Van Melle India Pvt Ltd. Vs ACIT (ITAT Delhi) Thus, in order to be characterized as an ‘international transaction’, it would have to be demonstrated that the transaction arose pursuant to an arrangement, understanding or action in concert. A ‘transaction’, per se involves a bilateral arrangement or contract between the parties. Unilateral action by […]
ACIT Vs Ankit Nivesh & Management Pvt. Ltd. (ITAT Delhi) In absence of any specific date of handing over of material in the satisfaction note, the date of recording of satisfaction will be taken to be the date of handing over the material. The assessee is engaged in the business of investment and sale purchase […]
