Category: Tax Laws

Archive for the ‘Tax Laws’ Category


Sadhana R. Jain v. CBDT (2022) 287 Taxman 562 (SC) Editorial : Order of High Court set aside , Sadhana R.Jain v CBDT ( 2019) 174 DTR 385/ 307 CTR 207 / 103 taxmann.com 70 (Bom) (HC)

Income Declaration Scheme of 2016,
S. 195 : Power to remove difficulties-Not depositing the first instalment with in time-Board refusing to condonation of delay-Concession and excess indulgence would have demotivating effect on honest taxpayers making regular and prompt tax deposit-Dismissal of application is held to be not justified. [S. 184, ITA, S. 119, Art.14]

Jayant Nanda v. UOI (2022) 287 Taxman 201 /113 CCH 352 (Delhi)( HC)

Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
S.10(1): Assessment – No summons are pending – Permitted to travel to UAE and Thailand, with a direction that he shall return to India on or before 6-4-2022, subject to furnishing of security as specified and subject to furnishing a full itinerary of his stay at UAE and Thailand, along with a functional phone number [ Art , 226 ]

PCIT v. Asish Kumar Ghosh (2022) 444 ITR 398 (Cal)(HC)

Direct Taxes Vivad Se Vishwas Act, 2020.

S. 2(1)(a): Appellant – Declaration processed and Form 3 issued To Assessee -Rejection of declaration -Not valid —State cannot claim benefit of its own mistake. [S. 4 , Art , 226 ]

Azad Rahim v. ITO (2022) 444 ITR 557 (Ker)(HC)

Gift-tax Act, 1958

S. 15: Assessment – Asset gifted – Valuation — Question of fact .[ S. 15(2)]

ITO v. Sarojini Ramaswamy (Deceased) (2022)441 ITR 674 / 210 DTR 161/ 325 Taxman 47 (Mad) (HC)

Wealth-Tax Act , 1957

S. 17 : Reassessment — Tangible material-Assessment cannot be reopened for redetermination of value based on subsequent sale of property — Reassessment unsustainable- Existence of alternative remedy — Not bar to writ. Art , 226 ]

Addl. CIT v. Leena Gandhi Tiwari (2022) 216 TTJ 905 /96 ITR 384 / 212 DTR 105 ( Mum) ( Trib) www.itatonline .org

Black Money ( Undisclosed Foreign Income & Assets) and Imposition of Tax Act , 2015.

S. 43: Penalty for failure to furnish return of income an information , or furnish inaccurate particulars about an asset (including interest in any entity )located outside India- Foreign Bank Account – Signatory for late Mother-Amount was donated to the Charity –Not beneficial owner – Mere no disclosure is not valid ground for levy of penalty – Deletion of penalty was affirmed . [ S.10(3), Income -tax Act , 1961 132(4) 139 , 153A]

Yudhishthira Kapur v. ACWT (2021)90 ITR 90 (SN)(Delhi) (Trib)

Wealth tax Act, 1957.

S. 2(ea): Asset – Land under acquisition by Government – Not includible .

D. Jayaraman v. ACWT (2021)90 ITR 81 (SN)(Chennai) (Trib)

Wealth tax Act, 1957.

S. 2(e)(a): Assets – Stock in trade -Entries in books of account not relevant to decide nature of asset –Lands held as stock in trade – Not liable to be assessed as assets liable to be wealth -tax Act . [ S. 17 ]

Giridhari Govindas (HUF) v. ACIT ( 2021 ) 209 TTJ 953 ( Chennai ) ( Trib)

Wealth -tax Act , 1957 .

S. 2(ea) : Asset- Lack of evidence to support the land being vacant as of the cut-off date and evidence to the contrary, issue set aside to the file of AO for verification, whether the particular asset can be brought to tax under the Wealth Tax Act [ S. 16(3)]

ACIT v. Jatinder Mehra (2021) 212 TTJ 681 (Delhi) ( Trib)

Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015

S. 2(11): Asset located outside India -b Beneficial interest – Notice issued to assessee and order passed making addition on account of amount received in bank account where assessee is allegedly beneficial owner-Assessee not liable to be taxed. [ S. 5, 10(3) Companies Act, 2013 , S. 89(10), 90 (1)]