INCOME TAX REPORTS (ITR)--PRINT AND ONLINE EDITION
Notifications under section 90 :
Agreement between the Government of the Republic of India and the Council of Ministers of Republic of Albania for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital . . . 1
ITR Volume 360 : Part 5 (Issue dated : 3-2-2014)
SUBJECT INDEX TO CASES REPORTED IN THIS PART
Assessment --Return--Deduction not claimed in return but in revised computation of income--Allowable--Income-tax Act, 1961-- CIT v. Sam Global Securities Ltd. (Delhi) . . . 682
Bad debt --Debt written off in accounts--Deductible--Income-tax Act, 1961, s. 36(2)-- CIT v. Wipro Ltd. (No. 2 ) (Karn) . . . 658
Business expenditure --Capital or revenue expenditure--Dematerialisation of securities--Amount paid to National Securities Depository Limited under statutory obligation--Expenditure for purposes of business--Expenditure deductible--Income-tax Act, 1961, s. 37-- CIT v. Infosys Technologies Ltd. (Karn) . . . 714
----Capital or revenue expenditure--Expenditure on painting to improve working environment--Revenue expenditure--Income-tax Act, 1961, s. 37-- CIT v. Wipro Ltd. (No. 2 ) (Karn) . . . 658
----Capital or revenue expenditure--Expenditure on shifting machinery to make way for installation of new machinery--Capital expenditure--Income-tax Act, 1961, s. 37-- CIT v. Wipro Ltd. (No. 2 ) (Karn) . . . 658
----Condition precedent--Amount must be spent for purposes of business--Factory in backward area--Contributions for religious functions and social clubs and donation to municipality for digging borewell--No evidence that expenditure incurred for purposes of business--Expenditure not allowable--Income-tax Act, 1961, s. 37-- CIT v. Wipro Ltd. (No. 2 ) (Karn) . . . 658
----Disallowance--Contribution by employer to fund--Effect of section 40A(9)--Donation to society running school in backward area where assessee’s factory was situate--Amount could not be disallowed under section 40A(9)--Income-tax Act, 1961, s. 40A(9)-- CIT v. Wipro Ltd. (No. 2 ) (Karn) . . . 658
----Expenditure on installing traffic signals to enable employees to reach place of work early--Expenditure for purposes of business--Expenditure deductible--Income-tax Act, 1961, s. 37-- CIT v. Infosys Technologies Ltd. (Karn) . . . 714
----Provision for warranty--When deductible--No separate accounts maintained--Assessee not able to specify post-sales expenses--Tribunal not justified in granting deduction--Matter remanded--Income-tax Act, 1961, s. 37-- CIT v. Infosys Technologies Ltd. (Karn) . . . 714
Capital gains --Computation--Cost of acquisition--Fair market value as on 1-4-1981--Reference to Departmental Valuation Officer--Only where value of capital asset shown by assessee less than its fair market value--Income-tax Act, 1961, s. 55A--CIT v. Daulal Mohta (HUF) (Bom) . . . 680
----Long-term capital gains--Computation--Cost of acquisition--Fair market value as on 1-4-1981--Reference to Departmental Valuation Officer--Only when value adopted by assessee less than fair market value--Value adopted by assessee much more than fair market value--Reference to Valuation Officer could not be made--Income-tax Act, 1961, s. 55A(a)-- CIT v. Puja Prints (Bom) . . . 697
Charitable purpose --Registration of trusts--Cancellation of registration--To be with reference to objects satisfying definition of charitable purpose, as at time of registration and not by subsequent amendment to section 2(15)--Whether particular income qualifies under section 11--Is not same as whether activity genuine--No dispute about genuineness of trust or activities of trust--Question of cancellation does not arise--Income-tax Act, 1961, s. 12AA(3)-- Tamil Nadu Cricket Association v. DIT (Exemptions) (Mad) . . . 633
Depreciation --Goodwill--Law applicable--Effect of amendment of section 32 w. e. f. 1-4-1997--Amendment not retrospective--Depreciation not allowable on goodwill in assessment year 1987-88--Income-tax Act, 1961, s. 32-- CIT v. Wipro Ltd. (No. 2 ) (Karn) . . . 658
Exemption --New industrial undertaking in free trade zone--Donation for charitable purposes--Benefit can be claimed both under sections 10A and 80G--Income-tax Act, 1961, ss. 10A, 80G-- CIT v. Infosys Technologies Ltd. (Karn) . . . 714
Export of computer software --Special deduction--Expenditure for providing technical services outside India--Matter remanded--Income-tax Act, 1961, s. 80HHE-- CIT v. Infosys Technologies Ltd. (Karn) . . . 714
Income-tax --General principles--Assessment proceedings not adversarial-- CIT v. Sam Global Securities Ltd. (Delhi) . . . 682
New industrial undertaking --Special deductions under sections 80HH and 80-I--Claim for assessment year 1985-86 denied because of a finding that existing unit had been modernised and there was no new undertaking--No new evidence for assessment years 1986-87 and 1987-88--Assessee not entitled to deductions under sections 80HH and 80-I for those years--Income-tax Act, 1961, ss. 80HH, 80-I-- CIT v. Wipro Ltd. (No. 2 ) (Karn) . . . 658
Non-resident --Shipping--Agent of non-resident ship belonging to Iranian company taken on charter by company in Netherlands--Agreement between assessee and charterer--Assessee was agent of owner of ship--Income-tax Act, 1961, ss. 163, 172-- Marine Links Shipping Agencies v. CIT (Karn) . . . 709
Precedent --Effect of decision of Supreme Court in Rotork Controls India P. Ltd. v. CIT [2009] 314 ITR 62 (SC)-- CIT v. Infosys Technologies Ltd. (Karn) . . . 714
Advance ruling --Jurisdiction of Authority--Bar where matter already pending before income-tax authorities--Only after notice issued by Assessing Officer on issue in return--Mere filing of return not bar where notice not issued--Income-tax Act, 1961, ss. 139, 142(1), 143(1), (2), 245R(2)-- Mitsubishi Corporation, In re . . .704
----Jurisdiction of Authority--Matter pending before income-tax authority--Matter when said to be pending--Return and revised return filed and notices under sections 143(2) and 142(1) issued before filing of application--Particulars of transaction shown in return in form of details of tax deducted at source--Question pending before income-tax authorities--Application barred--Income-tax Act, 1961, ss. 139, 142(1), 143, 245R(2)-- J and P Coats Ltd., In re . . . 686
----Jurisdiction of Authority--When issue said to be pending before income-tax authority so as to bar advance ruling--Only when issues referred to in return and notice under section 143(2) issued--Return of income filed before application for advance ruling but notice under section 143(2) issued thereafter--Question not already pending before income-tax authorities--Advance ruling not barred--Application admitted--Income-tax Act, 1961, ss. 139, 143(2), 245R(2)-- Aircom International Ltd., In re . . . 693
SECTIONWISE INDEX TO CASES REPORTED IN THIS PART
S. 10A --Exemption--New industrial undertaking in free trade zone--Donation for charitable purposes--Benefit can be claimed both under sections 10A and 80G-- CIT v. Infosys Technologies Ltd. (Karn) . . . 714
S. 12AA(3) --Charitable purpose--Registration of trusts--Cancellation of registration--To be with reference to objects satisfying definition of charitable purpose, as at time of registration and not by subsequent amendment to section 2(15)--Whether particular income qualifies under section 11--Is not same as whether activity genuine--No dispute about genuineness of trust or activities of trust--Question of cancellation does not arise-- Tamil Nadu Cricket Association v. DIT (Exemptions) (Mad) . . . 633
S. 32 --Depreciation--Goodwill--Law applicable--Effect of amendment of section 32 w. e. f. 1-4-1997--Amendment not retrospective--Depreciation not allowable on goodwill in assessment year 1987-88-- CIT v. Wipro Ltd. (No. 2 ) (Karn) . . . 658
S. 36(2) --Bad debt--Debt written off in accounts--Deductible-- CIT v. Wipro Ltd. (No. 2 ) (Karn) . . . 658
S. 37 --Business expenditure--Capital or revenue expenditure--Dematerialisation of securities--Amount paid to National Securities Depository Limited under statutory obligation--Expenditure for purposes of business--Expenditure deductible-- CIT v. Infosys Technologies Ltd. (Karn) . . . 714
----Business expenditure--Capital or revenue expenditure--Expenditure on painting to improve working environment--Revenue expenditure-- CIT v. Wipro Ltd. (No. 2 )
(Karn) . . . 658
----Business expenditure--Capital or revenue expenditure--Expenditure on shifting machinery to make way for installation of new machinery--Capital expenditure-- CIT v. Wipro Ltd. (No. 2 ) (Karn) . . . 658
----Business expenditure--Condition precedent--Amount must be spent for purposes of business--Factory in backward area--Contributions for religious functions and social clubs and donation to municipality for digging borewell--No evidence that expenditure incurred for purposes of business--Expenditure not allowable-- CIT v. Wipro Ltd. (No. 2 ) (Karn) . . . 658
----Business expenditure--Expenditure on installing traffic signals to enable employees to reach place of work early--Expenditure for purposes of business--Expenditure deductible-- CIT v. Infosys Technologies Ltd. (Karn) . . . 714
----Business expenditure--Provision for warranty--When deductible--No separate accounts maintained--Assessee not able to specify post-sales expenses--Tribunal not justified in granting deduction--Matter remanded-- CIT v. Infosys Technologies Ltd.
(Karn) . . . 714
S. 40A(9) --Business expenditure--Disallowance--Contribution by employer to fund--Effect of section 40A(9)--Donation to society running school in backward area where assessee’s factory was situate--Amount could not be disallowed under section 40A(9)-- CIT v. Wipro Ltd. (No. 2 ) (Karn) . . . 658
S. 55A --Capital gains--Computation--Cost of acquisition--Fair market value as on 1-4-1981--Reference to Departmental Valuation Officer--Only where value of capital asset shown by assessee less than its fair market value--CIT v. Daulal Mohta (HUF)
(Bom) . . . 680
S. 55A(a) --Capital gains--Long-term capital gains--Computation--Cost of acquisition--Fair market value as on 1-4-1981--Reference to Departmental Valuation Officer--Only when value adopted by assessee less than fair market value--Value adopted by assessee much more than fair market value--Reference to Valuation Officer could not be made-- CIT v. Puja Prints (Bom) . . . 697
S. 80G --Exemption--New industrial undertaking in free trade zone--Donation for charitable purposes--Benefit can be claimed both under sections 10A and 80G-- CIT v. Infosys Technologies Ltd. (Karn) . . . 714
S. 80HH --New industrial undertaking--Special deductions under sections 80HH and 80-I--Claim for assessment year 1985-86 denied because of a finding that existing unit had been modernised and there was no new undertaking--No new evidence for assessment years 1986-87 and 1987-88--Assessee not entitled to deductions under sections 80HH and 80-I for those years-- CIT v. Wipro Ltd. (No. 2 ) (Karn) . . . 658
S. 80HHE --Export of computer software--Special deduction--Expenditure for providing technical services outside India--Matter remanded-- CIT v. Infosys Technologies Ltd. (Karn) . . . 714
S. 80-I --New industrial undertaking--Special deductions under sections 80HH and 80-I--Claim for assessment year 1985-86 denied because of a finding that existing unit had been modernised and there was no new undertaking--No new evidence for assessment years 1986-87 and 1987-88--Assessee not entitled to deductions under sections 80HH and 80-I for those years-- CIT v. Wipro Ltd. (No. 2 ) (Karn) . . . 658
S. 139 --Advance ruling--Jurisdiction of Authority--Bar where matter already pending before income-tax authorities--Only after notice issued by Assessing Officer on issue in return--Mere filing of return not bar where notice not issued-- Mitsubishi Corporation, In re (AAR). . .704
----Advance ruling--Jurisdiction of Authority--Matter pending before income-tax authority--Matter when said to be pending--Return and revised return filed and notices under sections 143(2) and 142(1) issued before filing of application--Particulars of transaction shown in return in form of details of tax deducted at source--Question pending before income-tax authorities--Application barred-- J and P Coats Ltd., In re (AAR). . . 686
----Advance ruling--Jurisdiction of Authority--When issue said to be pending before income-tax authority so as to bar advance ruling--Only when issues referred to in return and notice under section 143(2) issued--Return of income filed before application for advance ruling but notice under section 143(2) issued thereafter--Question not already pending before income-tax authorities--Advance ruling not barred--Application admitted-- Aircom International Ltd., In re (AAR). . . 693
S. 142(1) --Advance ruling--Jurisdiction of Authority--Bar where matter already pending before income-tax authorities--Only after notice issued by Assessing Officer on issue in return--Mere filing of return not bar where notice not issued-- Mitsubishi Corporation, In re (AAR). . .704
----Advance ruling--Jurisdiction of Authority--Matter pending before income-tax authority--Matter when said to be pending--Return and revised return filed and notices under sections 143(2) and 142(1) issued before filing of application--Particulars of transaction shown in return in form of details of tax deducted at source--Question pending before income-tax authorities--Application barred-- J and P Coats Ltd., In re (AAR). . . 686
S. 143 --Advance ruling--Jurisdiction of Authority--Matter pending before income-tax authority--Matter when said to be pending--Return and revised return filed and notices under sections 143(2) and 142(1) issued before filing of application--Particulars of transaction shown in return in form of details of tax deducted at source--Question pending before income-tax authorities--Application barred-- J and P Coats Ltd., In re (AAR). . . 686
S. 143(1), (2) --Advance ruling--Jurisdiction of Authority--Bar where matter already pending before income-tax authorities--Only after notice issued by Assessing Officer on issue in return--Mere filing of return not bar where notice not issued-- Mitsubishi Corporation, In re (AAR). . .704
S. 143(2) --Advance ruling--Jurisdiction of Authority--When issue said to be pending before income-tax authority so as to bar advance ruling--Only when issues referred to in return and notice under section 143(2) issued--Return of income filed before application for advance ruling but notice under section 143(2) issued thereafter--Question not already pending before income-tax authorities--Advance ruling not barred--Application admitted-- Aircom International Ltd., In re (AAR). . . 693
S. 163 --Non-resident--Shipping--Agent of non-resident ship belonging to Iranian company taken on charter by company in Netherlands--Agreement between assessee and charterer--Assessee was agent of owner of ship-- Marine Links Shipping Agencies v. CIT (Karn) . . . 709
S. 172 --Non-resident--Shipping--Agent of non-resident ship belonging to Iranian company taken on charter by company in Netherlands--Agreement between assessee and charterer--Assessee was agent of owner of ship-- Marine Links Shipping Agencies v. CIT (Karn) . . . 709
S. 245R(2) --Advance ruling--Jurisdiction of Authority--Bar where matter already pending before income-tax authorities--Only after notice issued by Assessing Officer on issue in return--Mere filing of return not bar where notice not issued-- Mitsubishi Corporation, In re (AAR). . .704
----Advance ruling--Jurisdiction of Authority--Matter pending before income-tax authority--Matter when said to be pending--Return and revised return filed and notices under sections 143(2) and 142(1) issued before filing of application--Particulars of transaction shown in return in form of details of tax deducted at source--Question pending before income-tax authorities--Application barred-- J and P Coats Ltd., In re (AAR). . . 686
----Advance ruling--Jurisdiction of Authority--When issue said to be pending before income-tax authority so as to bar advance ruling--Only when issues referred to in return and notice under section 143(2) issued--Return of income filed before application for advance ruling but notice under section 143(2) issued thereafter--Question not already pending before income-tax authorities--Advance ruling not barred--Application admitted-- Aircom International Ltd., In re (AAR). . . 693
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