Income Tax Appellate Tribunal Case Commentaries

Judgment in Jagran Prakashan Ltd. v. D.C.I.T.: Establishing Precedents on Allowability of Business Expenditures

Date: Mar 1, 2016

Judgment in Jagran Prakashan Ltd. v. D.C.I.T.: Establishing Precedents on Allowability of Business Expenditures Introduction The case of Jagran Prakashan Ltd., Sarvodaya Nagar, Kanpur v. D.C.I.T,...

Judicial Clarification on Verification of Sundry Creditors and Estimation of Gross Profit under Section 145(3) of the Income Tax Act: Commissioner of Income-Tax v. Anil Kumar & Co.

Date: Feb 26, 2016

Judicial Clarification on Verification of Sundry Creditors and Estimation of Gross Profit under Section 145(3) of the Income Tax Act: Commissioner of Income-Tax v. Anil Kumar & Co. Introduction The...

Reopening of Completed Tax Assessments Without Allegation of Non-Disclosure: Apeejay Education Society v. ITAT

Date: Feb 26, 2016

Reopening of Completed Tax Assessments Without Allegation of Non-Disclosure: Apeejay Education Society v. ITAT Introduction The case of Apeejay Education Society, Jalandhar v. The Assistant...

Ensuring Natural Justice: Mandatory Independent Inquiry in Tax Assessments

Date: Feb 11, 2016

Ensuring Natural Justice: Mandatory Independent Inquiry in Tax Assessments Introduction The case of Ito v. Softline Creations (P) Ltd. adjudicated by the Income Tax Appellate Tribunal on February 10,...

Clarification on Transfer Pricing Adjustments and Comparable Selection under TNMM: Insights from Saxo India (P.) Ltd. v. Assistant Commissioner of Income-tax

Date: Feb 6, 2016

Clarification on Transfer Pricing Adjustments and Comparable Selection under TNMM: Insights from Saxo India (P.) Ltd. v. Assistant Commissioner of Income-tax Introduction The case Saxo India (P.)...

Exemption under Sections 10 and 11: Insights from CIT v. Jamshetjee Tata Trust Bombay House

Date: Feb 5, 2016

Exemption under Sections 10 and 11: Insights from CIT v. Jamshetjee Tata Trust Bombay House Introduction The case of CIT v. Jamshetjee Tata Trust Bombay House adjudicated by the Income Tax Appellate...

Limitations on Income Tax Appeals: Insights from CIT v. Sheetal International Pvt. Ltd.

Date: Feb 2, 2016

Limitations on Income Tax Appeals: Insights from CIT v. Sheetal International Pvt. Ltd. Introduction The case of CIT v. Sheetal International Pvt. Ltd. adjudicated by the Income Tax Appellate...

Eligibility of Interest Income under Section 80P(2)(a)(i) for Co-operative Credit Societies: Ito v. Kundalika Nagari Sahakari Patsanstha Maryadit

Date: Jan 30, 2016

Eligibility of Interest Income under Section 80P(2)(a)(i) for Co-operative Credit Societies: Ito v. Kundalika Nagari Sahakari Patsanstha Maryadit Introduction The case of Ito v. Kundalika Nagari...

M/s Avenue Asia Advisors Pvt. Ltd. v. DCIT: Refining Transfer Pricing Methodologies and Comparable Selection

Date: Jan 23, 2016

M/s Avenue Asia Advisors Pvt. Ltd. v. DCIT: Refining Transfer Pricing Methodologies and Comparable Selection Introduction The case of M/s Avenue Asia Advisors Pvt. Ltd., New Delhi v. DCIT, New Delhi...

Sysarris Software (P.) Ltd. v. Deputy Commissioner of Income-tax: Key Precedents and Implications on Transfer Pricing

Date: Jan 23, 2016

Sysarris Software (P.) Ltd. v. Deputy Commissioner of Income-tax: Key Precedents and Implications on Transfer Pricing Introduction The case of Sysarris Software (P.) Ltd. v. Deputy Commissioner of...

Limiting Departmental Appeals: Insights from Ito v. Sanjay Chhabra

Date: Jan 16, 2016

Limiting Departmental Appeals: Insights from ITO v. Sanjay Chhabra Introduction The case of ITO v. Sanjay Chhabra, adjudicated by the Income Tax Appellate Tribunal (ITAT) on January 15, 2016, marks a...

Defining "Corpus" in Venture Capital Funds: Insights from Dhfl Venture Capital Fund v. Ito

Date: Jan 9, 2016

Defining "Corpus" in Venture Capital Funds: Insights from Dhfl Venture Capital Fund v. Ito Introduction The case of Dhfl Venture Capital Fund v. Ito adjudicated by the Income Tax Appellate Tribunal...

ITA Upholds Project Completion Method Over Hypothetical Market Pricing in Property Development – Cit v. Swananda Properties Pvt. Ltd.

Date: Jan 5, 2016

ITA Upholds Project Completion Method Over Hypothetical Market Pricing in Property Development – Cit v. Swananda Properties Pvt. Ltd. Introduction The case of CIT v. Swananda Properties Pvt. Ltd....

Illegal Additions Under Section 153C: A Comprehensive Analysis of Ms. Chhaya P. Gangar v. Deputy Commissioner of Income-tax

Date: Dec 19, 2015

Illegal Additions Under Section 153C: A Comprehensive Analysis of Ms. Chhaya P. Gangar v. Deputy Commissioner of Income-tax Introduction The case of Ms. Chhaya P. Gangar v. Deputy Commissioner of...

Strict Application of Section 147 for Reassessment Beyond Four Years: Commissioner of Income-tax v. Vishishth Chay Vyapar Ltd.

Date: Dec 4, 2015

Strict Application of Section 147 for Reassessment Beyond Four Years: Commissioner of Income-tax v. Vishishth Chay Vyapar Ltd. Introduction The case of Commissioner of Income-tax v. Vishishth Chay...

Micro Ink Limited v. Additional Commissioner of Income Tax: Exclusion of Corporate Guarantees from Arm's Length Price Adjustments

Date: Nov 28, 2015

Micro Ink Limited v. Additional Commissioner of Income Tax: Exclusion of Corporate Guarantees from Arm's Length Price Adjustments Introduction The case of Micro Ink Limited v. Additional Commissioner...

Clarifying the Scope of International Transactions in Transfer Pricing: Insights from Avnet India Pvt. Ltd. v. CIT

Date: Nov 19, 2015

Clarifying the Scope of International Transactions in Transfer Pricing: Insights from Avnet India Pvt. Ltd. v. CIT 1. Introduction The case of Avnet India Pvt. Ltd. v. Commissioner of Income Tax...

E4E Business Solutions India Pvt. Ltd. v. CIT: Establishing the Primacy of Internal Comparables in Transfer Pricing

Date: Nov 5, 2015

E4E Business Solutions India Pvt. Ltd. v. CIT: Establishing the Primacy of Internal Comparables in Transfer Pricing Introduction The case of E4E Business Solutions India Pvt. Ltd. v. CIT adjudicated...

Understanding Penalties for Concealed Income under Section 271(1)(c) – Case Commentary on Sarita Kaur Manjeet Singh Chopra v. ITO

Date: Oct 31, 2015

Understanding Penalties for Concealed Income under Section 271(1)(c) – Case Commentary on Sarita Kaur Manjeet Singh Chopra v. ITO Introduction The case of Sarita Kaur Manjeet Singh Chopra v. Income...

ITAT Affirms Revenue Characterization of Sales Tax Deferral Loan Settlements and Distinguishes Interest Payments as Compensatory

Date: Oct 31, 2015

ITAT Affirms Revenue Characterization of Sales Tax Deferral Loan Settlements and Distinguishes Interest Payments as Compensatory Introduction The Income Tax Appellate Tribunal (ITAT) delivered a...

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