Year: 2020

Archive for 2020


CIT v. R. N. Jayaprakash (2019)419 ITR 252 / (2020) 269 Taxman 527 (Mad.)(HC)

S. 143(3) : Assessment-Acquittal in Criminal proceedings would not justify deletion of additions to income based on facts-Matter remanded to the AO for fresh enquiry. [S. 254(1) ]

PCIT v. Transcend MT Services (P.) Ltd. (2019) 267 Taxman 314 (Delhi) (HC)

S. 143 (3) : Assessment–Non-existing company–Amalgamation-Assessment on the non-existing is held to be void ab initio.

CIT v. Sodder Builder And Developers (P.) Ltd. (2019)419 ITR 436 (Bom.) (HC)

S. 143(2) : Assessment–Notice–Mandatory-Block assessment–Non issue of notice – Assessment is held to be bad in law. [S. 132, 158BC]

Multi Commodity Exchange of India v. Dy.CIT ( 2019) 310 CTR 274/ 176 DTR 385 / (2020) 426 ITR 132 (Bom.) (HC)

S. 142(2A) : Inquiry before assessment–Special audit–An attempt to understand the books of account-Huge amount of professional fees was paid-Reference to special Audit is held to be valid.

Religare Finvest Ltd. v. Dy. CIT (2019)419 ITR 5/( 2020) 312 CTR 432 / 185 DTR 119/ 269 Taxman 541 (Delhi)(HC) Religare Enterprises Ltd v. Dy CIT (2019) 419 ITR 5 /( 2020) 312 CTR 432 / 185 DTR 119(Delhi) (HC)

S. 142(2A) : Inquiry before assessment–Special audit–Finding that direction had been issued after condition laid down were fulfilled—Writ is held to be not maintainable. [Art. 226]

Bank of Tokyo Mitsubishi Ltd. v. CIT (2019) 310 CTR 479 / 181 DTR 220 (Cal.) (HC)

S. 90 : Double taxation agreement-Rate of tax–Applicable to domestic company and not 65%-CBDT Circular is held to be applicable-DTAA-India-Japan. [Art. 7, 23, 24(2)]

K274 Uthukuli Primary Agricultural Cooperative Credit Society Ltd. v. ITO (2019) 267 Taxman 374 (Mad.)(HC)

S. 80P : Co-operative societies–Denial of exemption-Alternative remedy – Directed to avail alternative remedy u/s. 246A of the Act. [S. 246A, Art. 226, Tamil Nadu Cooperative Societies Act, 1983]

Olympia Industries Ltd. v. UOI (2019) 181 DTR 253/ (2020) 312 CTR 248 / / 424 ITR 202 (Bom.)(HC)

S. 72 : Loss-Carry forward and set off-scheme sanctioned by BIFR-Objection by Revenueto grant tax concession- Writ is held to be not maintainable . . [S. 72A, Sick industrial companies (Special provisions) Act, 1985, S. 18, 19, Art,226 ]

CIT v. Anoop Jain (2019) 182 DTR 291/311 CTR 58 /( 2020) 268 Taxman 427 / 424 ITR 115 (Delhi)(HC)

S. 69A : Income from undisclosed sources–No evidence to show that cheques stated to have been issued by the assessee-Deletion of addition is held to be justified.

N. R. Gangavathi (HUF), Basavaraj Kamatgi (HUF) v. ITO (2019) 419 ITR 469/ 311 CTR 625/ 184 DTR 375 (Karn.)(HC) Basavaraj Kamatgi (HUF) v. ITO (2019) 419 ITR 469 /311 CTR 625/ 184 DTR 375(Karn.) (HC)

S. 69 : Unexplained investment-Income from undisclosed sources- Jewellery converted to bullion and sold–Sale proceeds through bank –Addition cannot be made as income from undisclosed sources. [Voluntary Disclosure of Income Scheme, 1997]