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DATE: December 5, 2014 (Date of pronouncement)
DATE: December 8, 2014 (Date of publication)
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A statutory order, even if a nullity, continues to be effective unless set aside by a competent authority. Such orders cannot be nullified by an administrative order

The principal controversy to be addressed is whether the Chairman of the Income Tax Settlement Commission could, as administrative head of the Income Tax Settlement Commission, declare the order passed by the CPIO and Joint Commissioner of Income Tax directing …

R. K. Jain vs. Chairman, Settlement Commission (Delhi High Court) Read More »

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DATE: December 5, 2014 (Date of pronouncement)
DATE: December 5, 2014 (Date of publication)
AY: 2003-04
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S. 41(1): Payment of Net Present Value of sales-tax deferral loan does not constitute a taxable "benefit"

The High Court had to consider whether the judgement of the Special Bench of the Tribunal in Sulzer India Ltd vs. JCIT 138 ITD 1 (SB)(Mum) that the difference between the Net Present Value of sales-tax liability and its future …

CIT vs. Sulzer India Limited (Bombay High Court) Read More »

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DATE: November 24, 2014 (Date of pronouncement)
DATE: December 5, 2014 (Date of publication)
AY: 1999-00
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S. 254(2): ITAT must adopt a justice oriented approach and not defeat the legitimate rights on the altar of procedures and technicalities. Even a mistake by the assessee can be rectified

(i) It is a settled position in law that every authority exercising quasi judicial powers has inherent/ incidental power in discharging of its functions to ensure that justice is done between parties i.e. no prejudice is caused to any of …

Supreme Industries Ltd vs. ACIT (Bombay High Court) Read More »

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DATE: October 29, 2014 (Date of pronouncement)
DATE: December 5, 2014 (Date of publication)
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Issue of notice straightaway through affixture is not proper & renders proceedings void. On the expiry of the limitation period valuable rights accrue to the assessee

(i) The Tribunal took note of the fact that (a) the issuance of a notice straight away through affixture is not proper; (b) no efforts were made to send the notices to the partners through registered post with acknowledge due; …

CIT vs. Godavari Electrical Conductors (Andhra Pradesh High Court) Read More »

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DATE: October 29, 2014 (Date of pronouncement)
DATE: December 4, 2014 (Date of publication)
AY: 2011-12
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S. 220(6): Law laid down on the guidelines that have to be followed while considering a stay application

(i) At the very outset, it must be pointed out that the manner in which the Assessing Officer has disposed of the application for stay by impugned order is in complete breach of the directions of this Court as set …

Slum Rehabilitation Authority vs. DDIT (Bombay High Court) Read More »

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DATE: October 29, 2014 (Date of pronouncement)
DATE: December 4, 2014 (Date of publication)
AY: 2011-12
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S. 220(6): Parameters to be considered in deciding a stay application laid down

The parameters to be considered in deciding stay application as laid down by this Court in KEC International Limited v/s. B. R. Balakrishnan 251 ITR 158; UTI Mutual Funds v/s. ITO 345 ITR 71 and UTI Mutual Fund v/s. ITO …

Mumbai Metropolitan Region Development Authority vs. DDIT (Bombay High Court) Read More »

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DATE: December 3, 2014 (Date of pronouncement)
DATE: December 4, 2014 (Date of publication)
AY: 1997-98
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S. 119(2)(b): The expression 'genuine hardship' should be construed liberally, particularly in matters of entertaining of applications seeking condonation of delay.

(i) The expression ‘genuine hardship’ came up for consideration of the Supreme Court in case of B.M. Malani (supra), wherein, by reference to New Collins Concise English Dictionary, the Supreme Court accepted the position that ‘genuine’ means not fake or …

Artist Tree Pvt. Ltd vs. CBDT (Bombay High Court) Read More »

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DATE: June 17, 2014 (Date of pronouncement)
DATE: December 4, 2014 (Date of publication)
AY: 1998-99
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S. 147: The words “failure to disclose material facts" is not a magician's mantra & the failure to use those words will not by itself oust jurisdiction to reassess if the reasons as a whole implies a failure to disclose material facts

(i) We are of the view that the words “failure on the part of the assessee to disclose fully and truly all material facts necessary for assessment” is not a magician’s mantra which alone would give jurisdiction to reopen an …

Allanasons Limited vs. DCIT (Bombay High Court) Read More »

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DATE: June 18, 2014 (Date of pronouncement)
DATE: December 4, 2014 (Date of publication)
AY: 2005-06
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S. 147: A writ petition is not like an appeal where the assessee has a statutory right to require the Court to entertain the challenge. A writ will be maintained only if the notice is clearly without jurisdiction & not otherwise

We would exercise our writ jurisdiction to interdict a proceeding under Section 148 of the Act seeking to reopen an assessment only when the same is clearly without jurisdiction and not otherwise as a matter of self restraint. We are …

Nickunj Eximp Enterprises Pvt. Ltd vs. ACIT (Bombay High Court) Read More »

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DATE: August 11, 2014 (Date of pronouncement)
DATE: December 4, 2014 (Date of publication)
AY: 1993-94
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S. 147/ 150(1): A "finding" is one that is necessary for the disposal of an appeal in respect of an assessment of a particular year

The issue for our examination is whether there is any finding in the order of the Tribunal which is being given effect to and/or as consequence thereof, the impugned notice has been issued. It is only when the answer to …

Eskay K’n’ IT (India) Ltd vs. DCIT (Bombay High Court) Read More »