Volume 21 : Part 6 (Issue dated : 11-2-2013)
SUBJECT INDEX TO CASES REPORTED IN THIS PART
Amortisation of preliminary expenses --Expenditure not for expansion of industrial undertaking or for setting up new industrial undertaking--Deduction not available under section 35D--Income-tax Act, 1961, s. 35D-- Gujarat Power Corporation Ltd. v. Additional CIT (Ahmedabad) . . . 683
Business expenditure --Advertisement expenditure--Finding that expenditure genuine--Disallowance merely on ground that instead of products, chairman was being promoted--Not proper-- Mahashian Di Hatti Ltd. v. Deputy CIT (Delhi) . . . 731
----Expenses incurred before commencement of business--Not deductible--Income-tax Act, 1961, s. 37-- Gujarat Power Corporation Ltd. v. Additional CIT (Ahmedabad) . . . 683
Income-tax --General principles--Principle of consistency not applicable to perpetuate mistake-- Gujarat Power Corporation Ltd. v. Additional CIT (Ahmedabad) . . . 683
International transactions --Transfer pricing--Arm’s length price not to be determined without proper comparables--Failure by assessee to file transfer pricing report on ground no public domain comparable in assessee’s line of business--Matter remanded for fresh transfer pricing study for determination of fair arm’s length price-- Mahashian Di Hatti Ltd. v. Deputy CIT (Delhi) . . . 731
Non-resident --Income deemed to accrue or arise in India--Fees for technical services--Buying agency service commission--Procurement and incidental services rendered--Not managerial or technical services--Commission not taxable in India--Income-tax Act, 1961, s. 9(1)(vii)--Circular No. 786, dated 7-2-2000-- Adidas Sourcing Ltd. v. Assistant Director of Income-tax (Delhi) . . . 697
Penalty --Concealment of income--Income not fully declared in original return but in return filed pursuant to notice under section 148--Conduct of assessee in furnishing inaccurate particulars--Doctrine of continuity and concurrence--Assessee liable for penalty in first assessment year instead of all assessment years--Income-tax Act, 1961, s. 271(1)(c)-- Dr. Bapuji Cherukuri v. Deputy CIT (Chennai) . . . 714
Search and seizure --Assessment--Undisclosed income--Directors of assessee-company admitting speculative transactions and declaring income therefrom--No evidence to show assessee engaged in speculative trading--Assessee purchasing gold for purpose of gifts to persons achieving targets--Expenditure on making charges and purchase of gold reflected in books--Statements of directors retracted thereafter--Income not to be assessed on presumption-- Mahashian Di Hatti Ltd. v. Deputy CIT (Delhi) . . . 731
----Assessment--Undisclosed income--Entries in papers seized from person making purchases for assessee--No material to show difference between sales recorded there and according to books of account--No addition warranted-- Mahashian Di Hatti Ltd. v. Deputy CIT (Delhi) . . . 731
----Assessment--Undisclosed income--Papers found from office of S, engaged in procurement of haldi and chillies--S declaring commission income and paying tax with interest--No evidence suggesting overinvoicing at the instance of the assessee--Difference between purchase price paid by assessee and amount paid to suppliers--Not undisclosed income of assessee but expenditure in hands of assessee-- Mahashian Di Hatti Ltd. v. Deputy CIT (Delhi) . . . 731
----Assessment--Undisclosed income--Papers seized from premises of hospital from possession of person who owned up to documents--No evidence to establish donations made by assessee out of undisclosed income--No addition in hands of assessee--Income-tax Act, 1961, ss. 153A, 292C-- Mahashian Di Hatti Ltd. v. Deputy CIT (Delhi) . . . 731
----Assessment--Undisclosed income--Papers seized from trust showing investment in school building--No indication of person from whose account money had come for investment--Addition if at all, to be made in hands of trust--No addition in hands of assessee based on valuation report-- Mahashian Di Hatti Ltd. v. Deputy CIT (Delhi) . . . 731
----Block assessment--Surcharge--Amendment of section 113 with effect from June 1, 2002 making surcharge leviable in cases of block assessment--Search conducted before that date--Surcharge leviable--Income-tax Act, 1961, ss. 113, 158BC-- Assistant CIT v. Dwaraka Prasad Malpani (Cochin) . . . 719
----Block assessment--Undisclosed income--Assessee failing to prove genuineness of gifts--Addition proper --Income-tax Act, 1961, s. 68-- Assistant CIT v. Dwaraka Prasad Malpani (Cochin) . . . 719
----Gifts--Gold and gold ornaments--Assessee filing affidavits containing details of gifted jewellery--Addition to be deleted--Income-tax Act, 1961-- Assistant CIT v. Dwaraka Prasad Malpani (Cochin) . . . 719
----Presumption as to ownership of books and assets--No presumption that income of a particular year is income of any other year--Presumption not available in respect of person other than person from whose possession books or assets seized--Income-tax Act, 1961, s. 292C-- Mahashian Di Hatti Ltd. v. Deputy CIT (Delhi) . . . 731
SECTIONWISE INDEX TO CASES REPORTED IN THIS PART
S. 9(1)(vii) --Non-resident--Income deemed to accrue or arise in India--Fees for technical services--Buying agency service commission--Procurement and incidental services rendered--Not managerial or technical services--Commission not taxable in India-- Adidas Sourcing Ltd. v. Assistant Director of Income-tax (Delhi) . . . 697
S. 35D --Amortisation of preliminary expenses--Expenditure not for expansion of industrial undertaking or for setting up new industrial undertaking--Deduction not available under section 35D-- Gujarat Power Corporation Ltd. v. Additional CIT (Ahmedabad) . . . 683
S. 37 --Business expenditure--Expenses incurred before commencement of business--Not deductible-- Gujarat Power Corporation Ltd. v. Additional CIT (Ahmedabad) . . . 683
S. 68 --Search and seizure--Block assessment--Undisclosed income--Assessee failing to prove genuineness of gifts--Addition proper-- Assistant CIT v. Dwaraka Prasad Malpani (Cochin) . . . 719
S. 113 --Search and seizure--Block assessment--Surcharge--Amendment of section 113 with effect from June 1, 2002 making surcharge leviable in cases of block assessment--Search conducted before that date--Surcharge leviable-- Assistant CIT v. Dwaraka Prasad Malpani (Cochin) . . . 719
S. 153A --Search and seizure--Assessment--Undisclosed income--Papers seized from premises of hospital from possession of person who owned up to documents--No evidence to establish donations made by assessee out of undisclosed income--No addition in hands of assessee-- Mahashian Di Hatti Ltd. v. Deputy CIT (Delhi) . . . 731
S. 158BC --Search and seizure--Block assessment--Surcharge--Amendment of section 113 with effect from June 1, 2002 making surcharge leviable in cases of block assessment--Search conducted before that date--Surcharge leviable-- Assistant CIT v. Dwaraka Prasad Malpani (Cochin) . . . 719
S. 271(1)(c) --Penalty--Concealment of income--Income not fully declared in original return but in return filed pursuant to notice under section 148--Conduct of assessee in furnishing inaccurate particulars--Doctrine of continuity and concurrence--Assessee liable for penalty in first assessment year instead of all assessment years-- Dr. Bapuji Cherukuri v. Deputy CIT (Chennai) . . . 714
S. 292C --Search and seizure--Assessment--Undisclosed income--Papers seized from premises of hospital from possession of person who owned up to documents--No evidence to establish donations made by assessee out of undisclosed income--No addition in hands of assessee-- Mahashian Di Hatti Ltd. v. Deputy CIT (Delhi) . . . 731
----Search and seizure--Presumption as to ownership of books and assets--No presumption that income of a particular year is income of any other year--Presumption not available in respect of person other than person from whose possession books or assets seized-- Mahashian Di Hatti Ltd. v. Deputy CIT (Delhi) . . . 731
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