Category: Tax Laws

Archive for the ‘Tax Laws’ Category


PCIT v. Deccan Jewellera P. Ltd (2021) 438 ITR 131 / 206 DTR 257/ 322 CTR 952/ 283 Taxman 578 (AP)(HC) PCIT v. Deccan Tobacco Company (2021) 438 ITR 131 (AP)(HC) PCIT v. Dte Exports P. Ltd. (2021) 438 ITR 131 (AP)(HC)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Search and seizure-Undisclosed investment-Excess stock assessed as business income-Possible view-Revision order held to be not justified. [S. 69, 115BBE, 132, 153D, 260A]

Rashesh Manhar Bhansali v. ACIT ( Mum ) Trib) www.itatonline.org

Black Money (Undisclosed Foreign income and Assets ) and imposition of tax Act, 2015

Black Money (Undisclosed Foreign income and Assets ) and imposition of tax Act, 2015

S. 2(11): Undisclosed asset located outside India – Applicability of the Statute – Accounts not in existence at the Black Money Act, 2015 came into force – The new legislation operates for those accounts and assets too. [ ITAct S. 139(1 ]

Boddu R amesh v. PCIT (2021) 281 Taxman 587 (Telangana) (HC)

Direct Tax Vivad Se Vishwas Act, 2020

S. 4 : Filing of declaration and particulars to be furnished S. 4 : Filing of declaration and particulars to be furnished – Time limits – Appellant -Disputed tax – Dismissal of appeal by Commissioner (Appeals ) as time barred – Tribunal condoning the delay – Declaration was held to be valid- Respondents were directed to accept the revised declaration filed by the petitioner . [ S.2 (1)(a)(i), 2(1) (j)( B) , ITA, S. 246A, Art , 226 ]

Bhupendra Harilal Mehta v. PCIT (2021)435 ITR 220/ 201 DTR 89/ 320 CTR 483 (Bom) (HC)

The Direct Tax Vivad Se Vishwas Act, 2020.

S.3: Amount payable by declarant – Search cases – Enhanced rate of tax – Assessment – Income of any other person – No evidence that assessee was involved in alleged bogus transaction – Enhanced rate of tax could not be levied . [ S.4,5 ]

Nalwa Investments Limited v. PCIT (2021)435 ITR 577 / 282 Taxman 221 / 323 CTR 81(Delhi) (HC)

Direct Tax Vivad Se Vishwas Act, 2020

S. 2(b): Appellate forum- Tribunal remanded the matter – Pendency of appeal before CIT (A) on specified date – Rejection of order is held to be unsustainable [ S.246A, 253, Art, 226 ]

Govindrajulu Naidu v. PCIT (2021)435 ITR 703/ 201 DTR 241/ 320 CTR 673/ 280 Taxman 392 (Bom)(HC)

Direct Tax Vivad Se Vishwas Act, 2020

S. 2(b): Appellate forum- Disputed Tax—Pendency of appeal — Declaration cannot be rejected on ground that assessee had offered an amount for taxation – The rejection of the declaration under the 2020 Act was not valid. [ S. 2 (j) ]

Bharani Hospitals Pvt. Ltd. v. ITO (2021)435 ITR 107/ 204 DTR 397 / 322 CTR 719 (Mad) (HC) Bharani Hospitals Pvt. Ltd. v. ITO (2021)435 ITR 107/ 204 DTR 397 (Mad) (HC)

Wealth Tax Act, 1957

S.17 : Wealth escaping assessment – Reassessment — Concealment of assets or furnishing of inaccurate particulars — Penalty —Provisions in pari materia with provisions of Income-Tax Act, 1961 —Law laid down by Supreme Court in Income-tax Matter is applicable to wealth tax proceedings – Natter remanded to pass speaking order . [ S.17(1), 18(1)(c), ITAct , S.147, Art , 226 ]

Nirajkumar N. Rungta v. CWT (2021)435 ITR 179/ 201 DTR 289/ 320 CTR 289 (Bom) (HC)

Wealth-Tax Act, 1957

S. 7 : Value of assets – Assets seized – Possession of revenue Authorities — Value of assets cannot be included in net wealth- The court directed that the Department shall forthwith release 85,617 grams of gold, jewellery, cash and other valuable articles as per the panchanama and hand it over to the petitioners being the legal heirs of the assessee [ S.7(1) , ITAct , S.132 ]

E. Sankaran v. ITO (2021) 279 Taxman 180 (Mad.)(HC) PCIT v. P. Kesarimal Jain ( Mrs.)(2021) 279 Taxman 182 (Mad.)(HC) PCIT v. Anil Kumar Jain (2021) 279 Taxman 251 (Mad.)(HC) Andal Arumugam (Smt.) v. ACIT (2021) 279 Taxman 259 (Mad.) (HC) CIT v. Bidam Kawar (Smt.) (2021) 279 Taxman 426 (Mad.)(HC) S. Manoharan v. ACIT (2021) 279 Taxman 226 (Mad.)(HC)

The Direct Tax Vivad Se Vishwas Act, 2020.

S. 4 : Filing of declaration and particulars to be furnished – Appeal with drawn as dismissed – Liberty is given to restore appeal in event ultimate decision to be taken on declaration filed was in favour of assessee. [ S.260A ]

Ashok Giri v. ACIT (2021) 278 Taxman 412 (Mad.) (HC) Harland Clarke Holding Software India (P) Ltd v. Dy. CIT (2021) 278 Taxman 409 (Mad.) (HC) Saroj Vinod Kumar Jain v. PCIT (2021) 278 Taxman 375 (Mad.) (HC)

Direct Tax Vivad Se Vishwas Act, 2020

S. 4: Filing of declaration and particulars to be furnished – Liberty is given to restore the appeal . [ S.28(va), 260A ]