Home Highlights October 2015 Year 2015 This

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1. Determining the jurisdiction of appellate forum - jurisdiction of this Tribunal - The Tribunal refers to the legal precedent established in a Supreme Court case...

2. Exemption u/s 11 - seeking benefit on the ground of mutuality in case of denial of benefit of section 11 by invoking section 13 - the assessee has clearly gave the...

3. Assistance to authorized officer during search and seizure - For the purpose of search AO now take services of any person, entity as approved by PCC or CC or PDGIT or...

4. The Appellate Tribunal (ITAT) considered Transfer Pricing (TP) adjustments related to foreign exchange gains and engineering services. The assessee used Transactional...

5. MAT Computation of book profit u/s 115JB - Disputed central excise demand raised against the assessee - denial of writing back benefit to the assessee - We appreciate...

6. Credit of TDS can be granted only when income corresponding to such TDS is assessed to tax in the same financial year. Assessee has the liberty to approach the Assessing...

7. Income accrued in India - Benefit of consistency on the basis of orders for earlier assessment years - There was complete silence on this issue by the assessing officer...

8. Reopening of assessment u/s 147 - Assessing Officer to usurp the jurisdiction to reopen the assessment - The first Assessing Officer has made the reassessment after...

9. Penalty u/s 270A was imposed by disallowing 30% of indexed cost of development expenses concerning Long Term Capital Gain offered by the assessee due to failure to...

10. The assessee, a company engaged in development/construction and sale of flats and plots, had classified its properties into four categories: flats open for sale, let-out...

11. Exemption u/s 11 denied - grants received by the assessee - Such grants were not the donations or voluntary contribution u/s 12 - The grants received by the assessee for...

12. Depreciation u/s 32 on non compete fee - For the assessment year 2003-04, the CIT(A) allowed it and the Assessing Officer gave effect to the order passed by the CIT(A)....

13. The Appellate Tribunal addressed two issues regarding TDS credit. Firstly, the Tribunal emphasized that income and TDS must align in any assessment year when income is...

14. Appellate Tribunal held that the Assessing Officer failed to provide findings for rejecting assessee's claim of exemption as a startup from applicability of section...

15. The case pertains to the disallowance of deduction claimed u/s 80IA by an assessee operating two units, one for paper manufacturing and another for power generation. The...