Month: June 2019

Archive for June, 2019


PCWT v. Taradevi Ratanlal Bafna (2019) 174 DTR 201/ 307 CTR 331 (Bom.)(HC)

S. 2(ea) : Assets–Commercial establishments or complexes- Exception provided in S. 2(ea)(i)(5) covers all commercial establishments, whether they have one unit or more. [S.2(ea)(i)(5)]

PCIT v. Phoenix Mills Ltd. (2019) 175 DTR 433/307 CTR 700 (Bom.)(HC)

S. 271AAA : Penalty – Search initiated on or after 1st June, 2007 – Manner of earning the undisclosed income to be given in the statement under 132(4) only if a question is asked to that effect- Deletion of penalty is held to be justified . [ S.132(4) ]

Oil India Ltd. v. P CIT (2019) 175 DTR 185/ 307 CTR 403 /103 taxmann.com 339 (Gau.)(HC)

S. 263: Commissioner – Revision of orders prejudicial to revenue –
-Doctrine of merger- Where 80-IC deduction was originally denied by the AO on one ground which was subject matter of CIT(A) and the disallowance was deleted by CIT(A)-CIT could not invoke revision jurisdiction to deny the deduction on another ground. [S.80IC ]

PCIT v. HDFC Bank Ltd. (2019) 174 DTR 92 (Bom.)(HC)

S. 158BD : Block assessment – Undisclosed income of any other person – To hand over the seized material to the AO of the said person to proceed u/s. 158BC-No substantial question of law .. [S. 158BC, 260A]

Pawan Sood v. ITO (2019) 175 DTR 217 /307 CTR 452 (All.)(HC)

S. 147 : Reassessment – Change of opinion- Reassessment in the absence of any new material on record amounts to change of opinion- Reassessment proceedings to be quashed. [ S.148 , 154]

Samson Maritime Ltd. v. Dy. CIT (2019) 175 DTR 25 / (2020) 314 CTR 887 (Bom.)(HC)

S.147: Reassessment-With in four years- In the absence of assessee’s failure to disclose facts, reassessment was to be quashed. [ S.148 ]

State Bank of India v. ACIT (2019) 175 DTR 335/103 taxmann.com 164/310 CTR 560/ 418 ITR 485 (Bom.)(HC)

S. 147 : Reassessment – After the expiry of four years- Outstanding creditors for more than 10 years –Capital gains- Where the assessee had made the due disclosure, assessment could not be reopened after four years from the end of the Assessment year. [S. 41(1), 45, 115-O]

PCIT v. Dakshin Haryana Bijli Vitran Nigam Ltd. (2019) 175 DTR 429/307 CTR 709 /(2020) 423 ITR 402(P&H)(HC)

S. 145 : Method of accounting–Accrual- Surcharge receivable from customers on delay in payment of electricity bill taxable on receipt basis and not accrual basis. [S. 4, 5]

PCIT v. Dakshin Haryana Bijli Vitran Nigam Ltd. (2019) 175 DTR 429/307 CTR 709 (P&H)(HC)

S. 145 : Method of accounting–Accrual- Surcharge receivable from customers on delay in payment of electricity bill taxable on receipt basis and not accrual basis. [S. 4, 5]

PCIT v. Kolte Patil Developers Ltd. (2019) 175 DTR 280 / 307 CTR 704 (Bom.)(HC)

S. 80IA : Industrial undertakings – Infrastructure development- Where the assessee had sold many units, it was entitled to deduction under S.80-IA even if the Authority’s approval came later on. [S. 80IA(4)(iii)]