Weekly DT Digest

HC: Enhanced compensation on tenancy rights surrender taxable in receipt year; BC Srinivasa Setty inapplicable 

HC sets aside Tribunal order, relies on SC ruling in CIT vs Ghanshyam to hold that enhanced compensation for compulsory

Sep 05,2014

HC: Remands matter on Sec 194C applicability; Wage payments not contractual payments, absent evidence 

HC sets aside ITAT’s order, remands matter back to determine applicability of Sec 194C TDS provision on amount paid by

Sep 05,2014

ITAT: Allows UAE resident to claim 1993 DTAA benefit without TRC, follows Meera Bhatia 

ITAT reverses CIT(A)’s order, holds that for AY 2006-07, assessee (UAE resident) eligible for benefits under 1993 India-UAE DTAA (pre-2007

Sep 05,2014

HC: Pursuing earlier appeals on same issue ‘sufficient cause’ for condoning appeal delay 

HC rules that assessee’s continuous pursuance of earlier AYs appeals on very same issue in appeal for AY 2007-08 constitutes

Sep 05,2014

HC: Brokerage for mobilizing public deposits, revenue expenditure, absent capital base increase 

HC holds that brokerage expenses incurred in mobilizing public deposits is revenue expenditure allowable as a deduction, rules in favour

Aug 29,2014

ITAT: Allows Sec 37 deduction for amount mandatorily transferred to reserve on Government direction 

ITAT rules that amount transferred to reserve mandatorily to meet future development expenses on specific direction of Government Administration is

Aug 29,2014

HC: Unabsorbed investment allowance to be set-off against business profits for Sec 80HHC computation 

Unabsorbed investment allowance u/s 32A(3) to be set-off against business profits while computing Sec 80HHC deduction; Sec 80HHC deduction, being

Aug 29,2014

HC: Appreciates Revenue’s claim, but holds 6-year technology license fee as revenue expenditure

HC holds license fee paid for availing technology for 6 years as revenue expenditure as no accretion to

Aug 29,2014

HC: Common management, accounts no bar for claiming Sec 10A benefit on unit expansion 

HC allows Sec 10A benefit in respect of 2 units which were commenced as expansion from existing unit in different

Aug 25,2014

ITAT: AO’s non-application of mind warrants exercise of revisional jurisdiction u/s 263. 

ITAT upholds CIT’s Sec 263 order, absent requisite/proper enquiry and application of mind to facts of case by AO; Non

Aug 22,2014