Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Vikas Bhatnagar v. ITO (2020) 120 taxmann.com 461 (AP)(HC) Editorial : SLP of assessee is dismissed, Vikas Bhatnagar v. ITO (2020) 275 Taxman 594(SC)

S. 271(1)(c) : Penalty-Concealment-Writ against penalty order is not maintainable when the quantum addition is in challenge before Appellate Authorities. [S. 144, 271(1))(b), Art. 226]

PCIT v. Ashok Kumar Maneklal Parikh (2020) 120 taxmann.com 268 (Bom.)(HC) Editorial : SLP of revenue is dismissed, PCIT v. Ashok Kumar Maneklal Parikh (2020) 274 Taxman 457 (SC)

S. 271(1)(c) : Penalty-Concealment-Not declared capital gain arising from sale of leasehold rights-Deletion of penalty is held to be justified. [S. 45, 54EC]

PCIT v. National Diary Development Board (2020) 114 taxmann.com 553 (Guj.)(HC) Editorial: SLP of revenue is dismissed PCIT v. National Diary Development Board (2020) 270 Taxman 6 (SC)

S. 271(1)(c) : Penalty-Concealment-Disallowance of claim-Appeal pending before High Court-Reasonable explanation-Deletion of penalty is held to be justified. [S. 36 (1)(iii)]

PCIT v. Prabhjot Kaur Chhabra (Smt.) (2020) 113 taxmann.com 140 (MP) (HC) Editorial : SLP of revenue is dismissed, PCIT v. Prabhjot Kaur Chhabra (Smt.) (2020) 269 Taxman 34 (SC)

S. 271(1)(c) : Penalty-Concealment-Capital gain not shown in original return-Revised return prior to issue of notice u/s. 153C of the Act-Deletion of penalty is held to be justified. [S.45, 133A, 153C]

PCIT v. Financial Technologies Ltd. (2019) 112 taxmann.com 398 (Bom.)(HC) Editorial : SLP of revenue is dismissed, PCIT v. Financial Technologies Ltd (2020) 269 Taxman 32 (SC)

S. 271(1)(c) : Penalty-Concealment-Depreciation withdrawn during subsequent search proceedings-Levy of penalty is held to be not justified. [S. 32, 132(4), 153A]

PCIT v. Basanti Properties (P.) Ltd. (2020) 114 taxmann.com 540 (Cal.)(HC) Editorial : SLP of revenue is dismissed due to low tax effect, PCIT v. Basanti Properties (P.) Ltd. (2020) 269 Taxman 573 (SC)

S. 271(1)(c) : Penalty-Concealment-Unless while issuing notice under section 271, read with section 274, no details of any charge were provided penalty cannot be levied [S. 274]

PCIT v. Synbiotics Ltd (2019) 112 taxmann.com 399 (Guj.)(HC) Editorial: SLP of revenue is dismissed, PCIT v. Synbiotics Ltd (2020) 269 Taxman 50(SC)

S. 271(1)(c) : Penalty-Concealment-Sale of land-Levy of penalty was held to be not justified.

CIT v. Hiralal Amritlal Parekh & Co. (2020) 117 taxmann.com 125 (Guj.)(HC) Editorial : Revenue was granted two weeks time to refile SLP and, in case of revenue’s failure to do so, SLP would be treated as dismissed for non-prosecution CIT v. Hiralal Amritlal Parekh & Co. (2020) 272 Taxman 96 (SC)

S. 271(1)(c) : Penalty-Concealment-Mercantile method of accounting-Recovery of loan was doubtful-Interest has shown as income-Deletion of penalty is held to be justified. [S. 145]

PCIT v. Indian Farmers Fertilizers Cooperative Ltd. (2020) 113 taxmann.com 598 (Delhi) (HC) Editorial: SLP is granted to the revenue PCIT v. Indian Farmers Fertilizers Cooperative Ltd. (2020) 270 Taxman 187 (SC)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Tax credit-High Court affirmed the order of Tribunal by following the rule of consistency-DTAA-India-Oman. [S.90(a)(ii), Art. 25 (4)]

Mani Mandir Sewa Nyas Samiti Ramghat Ayodhaya v. CIT (2020) 119 taxmann.com 382 (All.)(HC) Editorial : SLP of assessee is dismissed, Mani Mandir Sewa Nyas Samiti Ramghat Ayodhaya v. CIT (2020) 274 Taxman 277 (SC)

S. 260A : Appeal-High Court-Delay of 1744 days-Manager not keeping well-Duty of assessee to watch affairs-Delay was not condoned.