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S. 14A AO must establish nexus between expenditure & exempt income, give reason for disallowance & it should not exceed the exempt income

Case Name : DCM Ltd Vs DCIT (ITAT Delhi)
Appeal Number : I.T.A .No. 4467/Del/2012
Date of Judgement/Order : 01/09/2015
Related Assessment Year :
Courts : All ITAT (14952) ITAT Delhi (3705)
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Loss due to fluctuation in foreign exchange as on the date of balance sheet allowable

Case Name : Bechtel India Pvt. Ltd. Vs DCIT (ITAT Delhi)
Appeal Number : Appeal No. I.T.A.No.882/Del/2014
Date of Judgement/Order : 14/10/2015
Related Assessment Year :
Courts : All ITAT (14952) ITAT Delhi (3705)
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Internal comparability is a preferred method in transfer pricing study where within company profit margin data with third parties available

Case Name : M/s. Agila Specialties Pvt. Ltd. Vs The DCIT (ITAT Bangalore)
Appeal Number : Income Tax Appeal No. 179, 214 of 2015
Date of Judgement/Order : 09/10/2015
Related Assessment Year : 2010-11
Courts : All ITAT (14952) ITAT Bangalore (1081)
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TP provisions requires comparison of a controlled transaction with uncontrolled transaction, comparison within two controlled transaction is immaterial

Case Name : Greaves Cotton Ltd. Vs ITO (ITAT Mumbai)
Appeal Number : Income tax (Appeal) nos. 7356 of 2011
Date of Judgement/Order : 13/10/2015
Related Assessment Year :
Courts : All ITAT (14952) ITAT Mumbai (3584)
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Speculative loss can be carried forward even if revised return claiming loss is filed u/s 139(5)

Case Name : ITO Vs Ramesh Kumar Jajodia (ITAT Kolkatta)
Appeal Number : ITA No. 2166/Kol/2013
Date of Judgement/Order : 07/10/2015
Related Assessment Year :
Courts : All ITAT (14952) ITAT Kolkata (1035)
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Revenue expenses after setting up of business allowable despite non-commencement of business

Case Name : Reliance Gems & Jewels Ltd. Vs DCIT (ITAT Mumbai)
Appeal Number : ITA No. 3855/Mum/2013
Date of Judgement/Order : 28/10/2015
Related Assessment Year : 2008-09
Courts : All ITAT (14952) ITAT Mumbai (3584)
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Interest on IT Refund/ FDR, Other interest and Tender fees eligible for deduction u/s 80IA

Case Name : M/s Hiranandani Builders Vs ITO (ITAT Mumbai)
Appeal Number : ITA No. 4613/Mum/2013
Date of Judgement/Order : 28/10/2015
Related Assessment Year : 2009-10
Courts : All ITAT (14952) ITAT Mumbai (3584)
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CIT must establish that order is erroneous before remanding matter to AO u/s 263

Case Name : Lakshya Seth Vs ITO (ITAT Delhi)
Appeal Number : Income Tax (Appeal) No. 218 of 2015
Date of Judgement/Order : 07/10/2015
Related Assessment Year : 2011-12
Courts : All ITAT (14952) ITAT Delhi (3705)
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Income Surrendered as business income cannot be treated as deemed income u/s 69A

Case Name : M/s Dev Raj Hi-Tech Machines Ltd. Vs DCIT (ITAT Amritsar)
Appeal Number : Income tax (Appeal) no. 326 of 2014
Date of Judgement/Order : 07/10/2015
Related Assessment Year :
Courts : All ITAT (14952) ITAT Amritsar (160)
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Share application money not to be included in average investment in disallowance u/s 14A r.w. Rule 8D

Case Name : ITO Vs M/s LGW Ltd. (ITAT Kolkata)
Appeal Number : Income tax (Appeal) no. 267 of 2013 and Cross appeal no. 29 of 2013
Date of Judgement/Order : 07/10/2015
Related Assessment Year :
Courts : All ITAT (14952) ITAT Kolkata (1035)
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