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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 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 »

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DATE: November 7, 2014 (Date of pronouncement)
DATE: December 2, 2014 (Date of publication)
AY: -
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S. 254: ITAT cannot decline to admit additional ground of appeal on the ground that it would in any case be answered against the appellant on merits

In the light of authoritative pronouncement in National Thermal Power Limited Company V/s. CIT 229 ITR 383 and which was binding on the Tribunal, in terms of Article 141 of the Constitution of India, we do not see how the …

Jehangir H C Jehangir vs. ITO (Bombay High Court) Read More »

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DATE: November 27, 2014 (Date of pronouncement)
DATE: November 28, 2014 (Date of publication)
AY: 2003-04 & 2004-05
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S. 80IB(10): Super built-up area cannot be equated with built-up area

The concept of “super built-up” area is used by builders to get higher price and the super built-up area includes common area of stair-case and balcony area. Since super built-up area cannot be equated with built-up area it cannot be …

CIT vs. Hermes Developers (Bombay High Court) Read More »

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DATE: November 17, 2014 (Date of pronouncement)
DATE: November 28, 2014 (Date of publication)
AY: 1994-95
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S. 244A: Refund of self-assessment tax is entitled to interest

(i) The contention of revenue is that no interest at all is payable to the petitioner under Section 244A(1)(a) and (b) of the Act unless the amounts have been paid as tax. It would not cover cases where the payment …

The Stock Holding Corporation of India vs. CIT (Bombay High Court) Read More »