1.    CIT Vs Prem Nath Gupta- Punjab and Haryana High Court- Section 37(1). In this case the question before their lordship was whether the payments made by the assessee, who is contractors, to subcontractors was allowable or not. The High Court has upheld the order of the ITAT, wherein it has been held that when the assessee has maintained proper books of accounts and has requested the AO to issue commission for verifying the genuineness of the payments from the contractors the payments should be allowable.

(Click here for the decision)

   

2.   Jaibeer Singh Vs CIT- P& H High Court- Section 69- The issue before their lordship was whether the ITAT was justified in confirming the orders of the authorities below in treating the deposits in banks out of various known/declared sources being that of agricultural income, interest income and advance from sale of agricultural land as unexplained income of the assessee. Their lordship after considering the material on record upheld the order of the AO wherein the Assessing Officer found investments in banks and deposits in the name of the son of the assessee and treating the said amounts unexplained income, additions were made, under Section 144. CIT (A) and the Tribunal upheld the assessment.

(Click here for the decision)

   

3.    CIT VS Samsung Electronics- Karnatka High Court- Section 195- In this case it has been held that the payments made by the assessee to the froegin companies for the purchase of software are subject to the provisions of TDS means the assessee was under the obligation of deducting the TDS. Their lordship have interpreted the judgment of Transmission Corporation of India.

(Click here for the decision)

  

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CA. Kapil Goel, Moderator-Direct Taxes, Mob:9910272806, cakapilgoel@gmail.com

CA. Sidharth Jain, Co-Moderator, Mob: 9810418700, sidhjasso@yahoo.com

CA. Mukesh K Bansal, Co-Moderator-FEMA, mkak@rediffmail.com