Income Tax Cases

Income Tax - Geoconsult ZT GmbH = 2008

Date of Decision: August 5, 2008 - AUTHORITY FOR ADVANCE RULINGS

Applicant a foreign company has entered into a JV with two Indian companies. Applicant is providing consulting services in Himachal Pradesh from Austria and for the purpose of coordinate, an engineer was deputed to visit sites in HP - held that the income of applicant is taxable in the capacity of Association of Persons (AOP)
Income Tax - RAJENDRA PRASAD BORAH Versus INCOME-TAX APPELLATE TRIBUNAL AND OTHERS = 2008

Date of Decision: April 3, 2008 - GAUHATI HIGH COURT Tribunal by the impugned order dismissed the appeals solely on the ground that the appellant-assessee had failed to appear before it on the date fixed for hearing – even if the appellant-assessee was absent before the Tribunal, the only course open to it was to dispose of the appeal on the merits - impugned order of the learned Tribunal is interfered with and is quashed
Income Tax - COMMISSIONER OF INCOME-TAX Versus GURUVIJAYA KURI CO. LTD. = 2008

Date of Decision: January 21, 2008 - KERALA HIGH COURT

Penalty u/s 271 - assessee derived income from chitty business & showed credit balance in balance-sheet in respect of kuries terminated during 1977 to 1983 – AO opined that amount of auction discounts forgone by defaulter subscribers was income of assessee – assessee failed to offer any explanation – assessee was aware that impugned amount didn’t represent liability – burden is not on department to prove concealment - penalty is justified for concealment of income
Income Tax - COMMISSIONER OF INCOME-TAX Versus RAVINDRA PLATINUM P. LTD. = 2008

Date of Decision: May 13, 2008 - RAJASTHAN HIGH COURTBusiness expenditure – assessee was not required to pay to Govt. the sales tax collected by it under Tax Deferment Scheme – during this interregnum the amount of sales tax collected was deemed to have been actually collected by Govt and disbursed as loan to assessee – assessee had certificate issued, showing that certain amount of tax collected had been converted into loan, hence assessee is entitled to deduction, as the sum was to be treated as paid for purpose of section 43B