Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Kartick Chandra Mondal. v. PCIT ( 2020) 181 ITD 89/192 DTR 248/ 206 TTJ 904 (Kol) (Trib)

S. 263 : Commissioner – Revision of orders prejudicial to revenue – Investment Bonds – Month means calendar month and not period of 30 days – Period of six months is to be considered as six calendar months and not 180 Days- Entitle to exemption – Order is not erroneous [ S.54EC ]

Kersiwood Holdings Ltd. v. ACIT (2020) 181 ITD 170 (Mum) (Trib.)

S. 254(2A): Appellate Tribunal –Stay- CIT (IT ) had already granted stay on collection of disputed demands till disposal of appeal on condition that assessee paid 30 per cent of demand- Order of stay being in a reasonable manner ,order is affirmed . [ S.143(3) 144C]

Inter Globe Aviation Ltd. v. ACIT (2020) 181 ITD 225/ 194 DTR 81 / 207 TTJ 191 (Delhi) (Trib.)

S. 194H : Deduction at source – Commission or brokerage – Credit card gateway facility – On line booking of tickets- Not liable to deduct tax at source as charges taken by bank and credit card agencies for providing facilities .

Inter Globe Aviation Ltd. v. ACIT (2020) 181 ITD 225/ 194 DTR 81/ 207 TTJ 191 (Delhi) (Trib.)

S. 194C : Deduction at source – Contractors – Passenger service fees – Airlines collecting security component and facilitation component from its customers and paid same to airport authority- liable to deduct tax at source as per provision of S.194C. [ S. 194J ,196, 201(IA ) ]

Surya Commercials Ltd. v. DCIT (2020) 181 ITD 597 (Luck) (Trib.)

S. 154 : Rectification of mistake – Speculation business- Brought forward loss of earlier years were rightly set off against speculative business income for the year- No mistake apparent from record in assessment order. [ S.73 ]

Rajat Minerals (P.) Ltd. v. DCIT (2020) 181 ITD 368 / 190 DTR 248 / 203 TTJ 955 (Ranchi) (Trib.)/KDS Contractors (P) Ltd v. Dy.CIT ( 2020) 181 ITD 368/ 190 DTR 248 / 203 TTJ 955 (Ranchi) (Trib.)

S. 153A : Assessment – Search- No incriminating evidence was found or seized during course of search- Additions/disallowances on basis of a tax evasion petition found much after search was unjustified [ S.132 ]

Satish S. Prabhu v . ACIT (2020) 181 ITD 63 (Mum) (Trib.)

S. 143(3) : Assessment – Profit on sale of property used for residence – Capital gains -Exemption was not claimed in the return however claimed under wrong section in the course of assessment -Merely because assessee claimed deduction under wrong provision of S. 54F assesses claim could not be disallowed if it was allowable under an appropriate provision-Entitle to exemption/s 54 of the Act . [ S.54 , 54F ]

Rungta Irrigation Ltd. v. ACIT (2020) 181 ITD 95 / 206 TTJ 449/ 193 DTR 121 (Kol) (Trib.)

S. 143(2) : Assessment – Notice – Notice issued after date of transfer was regarded as invalid notice – Assessment framed pursuant to illegal notice is held to be void ab initio .[ S.124, 127, 143(3) ]

Rungta Irrigation Ltd. v. ACIT (2020) 181 ITD 95 / 206 TTJ 449/ 193 DTR 121 (Kol) (Trib.)

S. 143(2) : Assessment – Notice – Notice issued after date of transfer was regarded as invalid notice – Assessment framed pursuant to illegal notice is held to be void ab initio .[ S.124, 127, 143(3) ]

Peerless Hospitex Hospital & Research Centre Ltd. v. DCIT (2020) 181 ITD 446/ 196 DTR 57/ 207 TTJ 300 (Kol) (Trib.)

S. 115JB : Book profit – Carrying forward of unabsorbed business losses for more than 8 years does not apply while computing adjusted book profits [ S.72 ]