This Digest of case laws is prepared by KSA Legal and AIFTP from judgements reported in BCAJ, CTR, DTR, ITD, ITR, ITR (Trib), Chamber's Journal, SOT, Taxman, TTJ, BCAJ, ACAJ, www.itatonline.org and other journals
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S. 263 : Commissioner-Revision of orders prejudicial to revenue-Excess provision of Corporate Social Responsibility expenses of earlier years should have been first written back to profit and loss account and not in Balance-Sheet-No discussion in the assessment order-Revision is justified. [S. 143(3)]
Inductotherm (India) P. Ltd. v. PCIT (2024)112 ITR 59 (SN)(Ahd)(Trib)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Business expenditure-Four projects-Apportionment of expenditure to projects-Order of CIT is affirmed-The Principal Commissioner is required to provide reasonable opportunities of being heard to the assessee before deciding the case on the merits. [S.37(1)]
Apace Developers P. Ltd. v. PCIT (2024)112 ITR 49 (SN)(Delhi)(Trib)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Limited scrutiny to full scrutiny-No mention in order-sheet that limited scrutiny converted into full scrutiny-Neither Principal Commissioner nor Department producing any document or approval for converting limited scrutiny into full scrutiny in case of assessee-Revision order and consequential proceedings bad in law-No appeal is filed against 263 order-Revision jurisdiction in this case by the Principal Commissioner was wrong and illegal, the consequential order passed under section 143(3) of the Act was also not sustainable in the eyes of law and was accordingly quashed. [S. 143(3)]
Anoop Nopany v. ITO (2024)112 ITR 10 (SN) (Kol.)(Trib)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Contribution to core settlement guarantee fund controlled by Indian Clearing Corporation-Details filed before the Assessing Officer-Failure to showing how order of Assessing Officer is prejudicial to Revenue-Revision order is set aside. [S.10(23EE), 143(3)]
BSE Ltd. v. PCIT (2024)112 ITR 195 (Mum)(Trib)
S. 253 : Appellate Tribunal-Appeals-Delay of 506 days-Sufficient cause-Not diligent in pursuing issue relating to application-Delay is not condoned. [S.12A, 253(5)]
Sri Ram Mandir Katargam v. CIT (E) (2024)112 ITR 70 (SN)(Surat)(Trib)
S. 250 : Appeal-Commissioner (Appeals)-Procedure-Grounds of appeal-Deciding altogether different grounds of appeal which were not there in memorandum of appeal in Form 35 and allowing Appeal of assessee-Order set aside and direction to Commissioner (Appeals) to look into facts and pass an order on merits after giving proper opportunity of hearing. [S.68, 133(6), 246A, Form No. 35]
Asst. CIT v. Deepak Chanderbhan Sudhija (2024)112 ITR 63 (SN)(Mum)(Trib)
S. 154 : Rectification of mistake-Mistake apparent from the record-Depreciation-Additional depreciation-Additional claim-Mismatch to be looked into and rectified after verification-Matter remanded. [S. 32, 143(1)]
Shilp Gravures Ltd. v. Dy. CIT (2024)112 ITR 23 (SN)(Ahd)(Trib)
S. 153C : Assessment-Income of any other person-Search-Pendency of proceedings-Company’s name struck off from Register Of Companies-Assessing Officer had knowledge of name struck off-Order passed in name of non-existent company is not sustainable-Entire proceedings is quashed.[S.153A]
Dy. CIT v. KCJ Buildtech P. Ltd. (2024)112 ITR 36 (SN) (Delhi)(Trib)
S. 147 : Reassessment-Accommodation entries-Share application money and share premium-Re assessment is held to be invalid.[S.68, 148 (2)]
Tulshi Dealtrade P. Ltd. v. ITO (2024)112 ITR 68 (SN)(Kol)(Trib)
S. 145 : Method of accounting-Rejection of books of account-Trader and manufacturer of diamonds-Audit report not disclosing any defect in books of account-Diamond stock piece-wise, colour wise, data wise and carat-wise, and grade-wise held not legally tenable-Maintenance of books of account by assessee in accordance with provision of Act. [S.44AB, 145(3)]
Rajgir Gems LLP v. Asst. CIT (2024)112 ITR 28 (SN)(Mum)(Trib)