CA Deepak Aggarwal - Page 20

Section 263 – Revision merely on DCIT suggestion & without independent judgment, not valid in law

Span Overseas Ltd. Vs CIT (ITAT Pune)

ITAT Pune held In the case of Span Overseas Ltd. vs. CIT that from the show cause notice, it is clear that the CIT has invoked the provisions of section 263 on the proposal submitted by the DCIT and deficiencies in the assessment order pointed out by the DCIT....

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TPO not authorized to use information being not in public domain

M/s. Meritor LVS India (P) Ltd. Vs ACIT (ITAT Bangalore)

ITAT Bangalore held In the case of M/s. Meritor LVS India (P) Ltd. vs. ACIT that the transfer pricing officer (TPO) has drawn conclusions on the basis of information obtained by issue of notice u/s.133(6) .This information which was not available in public domain could not have been used by the TPO, ...

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Addition for alleged suppression of production not sustainable on mere order of excise duty evasion for earlier years

M/s. Meta Rolls & Commodities Pvt. Ltd. Vs ACIT (ITAT Pune)

ITAT Pune held In the case of M/s. Meta Rolls & Commodities Pvt. Ltd. vs. ACIT that in the instant assessment year i.e. 2010-11, there is no order of Commissioner of Central Excise and Customs and there is no evidence of any clandestine removal of goods without payment of Excise duty...

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AO cannot disallow expenses on estimation basis without verification of genuineness

Balbir Singh Vs ACIT (ITAT Jaipur)

ITAT Jaipur held In the case of Balbir Singh vs, ACIT that it is not open for the AO to make addition on estimation basis without verifying that said expenses are genuine or not. Mere fact that payments were made in cash on self made vouchers...

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Proceedings u/s 153C void ab initio, where AO of searched person failed to rebut presumption that seized document belongs to other person

ACIT Vs M/s Amrapali Grand (ITAT Delhi)

ITAT Delhi held In the case of ACIT vs, M/s Amrapali Grand that before a notice under Section 153C can be issued two steps have to be taken. The first step is that the Assessing Officer of the person who is searched must arrive at a clear satisfaction that a document seized from him does not belong to him but to some other person. ...

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Transfer Pricing: Captive unit bearing limited risk cannot be compared with a giant company having full fledged risk

Xchanging Technology Services India Private Limited. Vs DCIT (ITAT Delhi)

ITAT Delhi held In the case of Xchanging Technology Services India Private Limited. vs, DCIT that the Hon’ble High Court affirmed the conclusion that a captive unit of a comparable company which assumed only a limited risk cannot be compared with a giant company in the area of development...

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Free samples of medicines to medical practitioners not covered under gift, no disallowance u/s 37

Eli Lilly & Co. (India) Pvt. Ltd. Vs ACIT (ITAT Delhi)

ITAT Delhi held In the case of Eli Lilly & Co. (India) Pvt. Ltd. vs, ACIT that a clear distinction has been made between the free samples, gifts, travel facilities, hospitality and cash or monetary grants. It would accordingly be incorrect to put samples in the definition of gifts being separately categorized...

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Registration u/s 12AA not to be denied to a trust not having any formal deed of trust, even oral deed may suffice

Tsurphu Labrang Vs DIT (Exemptions) (ITAT Delhi)

ITAT Delhi held In the case of Tsurphu Labrang vs. DIT (Exemptions) that Rule 17A itself provides that it is not necessary that the Institution/Trust should be established under an instrument. The Rule 17A does not prescribe that in case the Institution/Trust...

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Time limit u/s 92CA (3A) being mandatory, no transfer pricing adjustment sustainable on time barred TPO order

Honda Trading Corporation. Vs DCIT (ITAT Delhi)

ITAT Delhi held In the case of Honda Trading Corporation. vs, DCIT that despite the use of the word `may’, the time limit for passing the order by the TPO is mandatory, as in the otherwise situation of the TPO having been allowed more time by implication...

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No estoppels in law for correctness, inadvertently included comparable may be argued in later proceedings

Alcatel-Lucent Technologies Vs DCIT (ITAT Delhi)

ITAT Delhi held In the case of Alcatel-Lucent Technologies. vs, DCIT that merely because the assessee in the TP study had included the comparable, which was accepted by TPO, it does not follow that the assessee cannot resile from its original claim at a later stage of proceeding...

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