Wednesday 12 November 2014

Four Important Verdicts On Eligibility Of Firm To Indo-UK DTAA, 50C, House Property + CIT(A) Power

P & O Nedlloyd Ltd. & Ors vs. ADIT (Calcutta High Court)

Though a firm is not a "person" under UK law, it is so under the Indian law. Consequently, the firm is eligible for exemption under the India-UK DTAA. The department's contention that the firm is not eligible for benefits under the DTAA is not acceptable
(i) It is the other objection regarding attempt on the part of the Revenue to subject the said partnership to taxation on the ground its income was not saved from the charge of income tax by the India-UK Treaty, that the Revenue has not been able to overcome. In dealing with such objection it is […]


ACIT vs. The Upper India Chamber of Commerce (ITAT Lucknow)

S. 50C vs. s. 11: If a charitable institution invests the entire sale consideration in other capital asset, s. 50C should not be invoked
The only issue in the appeal is, therefore, whether while taking the Value of Sale of capital Asset being immoveable property in case of an institution registered u/s 12A whether the provisions of section 11(1A) will prevail or deeming provisions of section 50C will apply. The assessee is a charitable society and is registered under […]

K. Raheja IT Park (Hyderabad) P. Ltd vs. CIT (ITAT Hyderabad)

Law on whether income from rent for lease of space in technology park and income from operation and management of facilities is assessable as "business profits" or "income from house property" explained
Assessee has been consistently offering the incomes under the head “Income on House Property” as far as the receipts of rents are concerned and under the head “Business” as far as the service fee and management fee on maintenance are concerned. Not only in the impugned years, even in earlier years also, the incomes were […]

Dr. Murari Mohan Kokey vs. ITO (ITAT Kolkata)

CIT(A) cannot decline to condone delay in filing appeal and still decide it on merits

We are of the view that in case CIT(A) chose not to condone the delay, he has no business to adjudicate the appeal on merits. For this, we are of the view that first of all, the appeal should be admitted for making a decision on merits because the right to appeal is neither an […]

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