Search Results For: Domestic Tax


Trishul Hi-Tech Industries vs. DCIT (ITAT Kolkata)

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DATE: September 24, 2014 (Date of pronouncement)
DATE: October 5, 2014 (Date of publication)
AY: 2004-05
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An assessment u/s 153A & 153C cannot be made in the absence of incriminating material found in search

It has been held by the ITAT, Kolkata Bench in the case of LMJ International Limited vs DCIT 119 TTJ (Kol) 214 where nothing incriminating is found in the course of search relating to any assessment years, the assessments for

New Holland Tractors (India) Pvt. Ltd vs. CIT (Delhi High Court)

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DATE: September 25, 2014 (Date of pronouncement)
DATE: October 5, 2014 (Date of publication)
AY: 1996-97
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What is accrual of income. The word "conceal" inherently and per-se refers to an element of mens rea, albeit the expression "furnishing of inaccurate particulars" is much wider in scope

(i) We need not refer to the case law on the subject, what is income or accrual of income, except by referring to the authoritative pronouncement of this Court in Commissioner of Income Tax versus Dinesh Kumar Goel, (2011) 331

CIT vs. Rama Krishna Jewellers (Delhi High Court)

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DATE: September 26, 2014 (Date of pronouncement)
DATE: October 5, 2014 (Date of publication)
AY: 2000-01 to 2004-05 and 2006-07
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A factual decision is perverse if the authority has acted without any evidence or on view of facts, which cannot be reasonably entertained. A perverse finding is one, if it is arrived at without any material or if it is arrived at or inference is made on material, which would not have been accepted or relied upon by a reasonable person conversant with the law.

This Court while exercising appellate jurisdiction under Section 260A of the Act is not an appellate Court for facts reprise. Factual findings can be challenged only on the ground that the factual findings recorded are perverse or relevant evidence has

Asiatic Oxygen Limited vs. DCIT (Calcutta High Court)

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DATE: September 29, 2014 (Date of pronouncement)
DATE: October 5, 2014 (Date of publication)
AY: 2006-200
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The formal reasons given in support of reopening the case cannot be added to or subtracted from or improved in the affidavit-in-opposition

In Hindustan Lever Ltd. Vs. R.B. Wadkar, Assistant Commissioner of Income-Tax And Others (No.1) reported in 268 ITR 322 (Bombay) and Aroni Commercials Ltd. Vs. Deputy Commissioner of Income-Tax And Another reported in (2014) 362 ITR 403(Bom) both Division Bench

Debashis Moulik vs. ACIT (Calcutta High Court)

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DATE: September 29, 2014 (Date of pronouncement)
DATE: October 5, 2014 (Date of publication)
AY: 2009-10
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“Escapement of income” in s. 147 should be given a strict construction

In my opinion “escapement of income” should be given a strict construction. Not only should it not be used to justify a change of view it should not be used to reopen an assessment on facts, information, documents which were

M/s Meditech vs. JCIT (ITAT Jodhpur)

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DATE: September 25, 2014 (Date of pronouncement)
DATE: October 5, 2014 (Date of publication)
AY: 2010-11
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Entire law on s. 263 revision explained

It is trite that an order can be revised only and only if twin conditions of ‘error in the order’ and ‘prejudice caused to the Revenue’ co-exist. The subject of ‘revision under section 263’ has been vastly examined and analyzed

DCIT vs. M/s Silver Line (ITAT Delhi)

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DATE: September 26, 2014 (Date of pronouncement)
DATE: October 4, 2014 (Date of publication)
AY: 2008-09, 2005-06, 2006-07, 2007-08
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Non-issue of s. 143(2) notice renders s. 147 assessment void. S. 292BB does not apply. If there is a conflict of judicial opinion, the view in favour of the assessee must be taken. Respondent can raise an additional ground in a Cross-Objection

(i) Now, the moot question for consideration is: Whether the non-issuance of a notice u/s 143(2) of the Act as alleged by the assessee-firm had vitiated the conclusion of the assessments u/s 147 read with s. 143(3) of the Act?

Mohd. Khasim vs. ACIT (ITAT Bangalore)

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DATE: September 26, 2014 (Date of pronouncement)
DATE: October 4, 2014 (Date of publication)
AY: block period
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There is a perceptional difference in the operative force of section 271(1)(c) vis-à-vis section 158BFA(2). The charge against the assessee u/s 158BFA(2) could be, why they failed to compute true disclosed income out of the seized material.

On a comparative study of the scheme of assessment of undisclosed income for the purpose of block period, penalty impossible u/s 271(1)(i)(c) and penalty impossible on the undisclosed income in the block period, we find that income for the block

Usha Chandresh Shah vs. ITO (ITAT Mumbai)

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DATE: September 26, 2014 (Date of pronouncement)
DATE: October 4, 2014 (Date of publication)
AY: 2006-07
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AO can assess on consideration of material available on record, surrounding circumstances, human conduct, preponderance of probabilities and nature of incriminating information / evidence available on record

We have already seen that the tax authorities have applied the test of human probabilities explained by the Hon’ble Supreme Court in the cases of Sumati Dayal and Durga Prasad More (supra) to disbelieve the claim of Long term Capital

The Stock Exchange, Bombay vs. V.S. Kandalgaonkar (Supreme Court)

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DATE: September 25, 2014 (Date of pronouncement)
DATE: October 4, 2014 (Date of publication)
AY: 1989-90
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Income Tax Act does not provide for any paramountcy of dues by way of income tax. Government dues only have priority over unsecured debts

The first thing to be noticed is that the Income Tax Act does not provide for any paramountcy of dues by way of income tax. This is why the Court in Dena Bank’s case (supra) held that Government dues only

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