Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


PCIT v. Kalyan Buildmart (P) Ltd (2021) 127 taxman.com 280 (Raj.) (HC) Editorial : SLP of revenue dismissed on the ground of delay, PCIT v. Kalyan Buildmart (P) Ltd. (2021) 279 Taxman 443 (SC)

S. 147 : Reassessment-Protective assessment-Search and seizure-Statement of third party-No incriminating material was found against the assessee-Order Tribunal quashing the reassessment was affirmed. [S. 132, 148, 260A]

Heval Navinbhai Patel v. ITO (2021) 279 Taxman 24 / 199 DTR 1 (Guj.)(HC)/Navin R.Patel v.ITO (2021) 279 Taxman 24 / 199 DTR 1 (Guj.)(HC)

S. 147 : Reassessment-Search in third party premises-Sale of land-Unexplained investment-Return was not filed-Reassessment notice issued after analysing voluminous material collected by revenue during search-Reassessment notice is held to be valid-Search undertaken prior to 1-6-2015-Argument that proceedings should have been initiated u/s 153C and not under section 148 was not accepted. [S. 69A, 132, 133A, 148, 153C, Art. 226]

Indian Syntans Investments (P.) Ltd. v. ACIT (2021) 279 Taxman 292 (Mad.)(HC)

S. 147 : Reassessment-After the expiry of four years-Income from lease rental-Reassessment based on documents accompanying return of income-No new material discovered-Reassessment is bad in law-With in four years-Reassessment based on discrepancies noted in value of land and doubtful debts in the statement of the computation of income and financials-Reassessment is held to be valid. [S. 36(1)(viia), 69A, 148, Art. 226]

Usha Martin Ltd. v. UOI (2021) 436 ITR 154 / 279 Taxman 155 / 207 DTR 258/ 323 CTR 395(Jharkhand)(HC)

S. 147 : Reassessment-After the expiry of four years-Information from District Registrar-Purchase of land at higher value-Unexplained expenditure-Reassessment is held to be justified. [S. 69C, 148, Art. 226]

Rajeshwari Iyer v. ITO (2021) 279 Taxman 472/ (2022) 214 DTR 248/ 329 CTR 279 (Mad.)(HC)

S. 143(3) : Assessment-Computation of capital gains-Valuation of property-Alternative remedy-Writ petition was dismissed. [S. 45, 50C, 55A, 246A, Art. 226]

All Gujarat Federation of Tax Consultants v. UOI (2021) 279 Taxman 382 (Guj.)(HC)

S. 139 : Return of income-Extension of time for filing-Audit report-Govid-19-Impossibility for tax practitioners to complete audit work-CBDT was directed to take decision on extension of date. [S. 44AB, Art. 226]

CIT v. Primal Projects (P.) Ltd. (2021) 279 Taxman 415 / 203 DTR 167 (Karn.)(HC)

S. 80IA : Industrial undertakings-Infrastructure development-Non-automatic approval-Requirement that a unit not to occupy more than 50 per cent of area did not apply-Entitle to deduction.

Device Driven (India)(P) Ltd. v. CIT (2021) 279 Taxman 302/ 208 DTR 413 / 323 CTR 333 (Ker.) (HC)

S. 40(a)(i) : Amounts not deductible-Deduction at source-Non-resident-Commission paid-Export of software-Not liable to deduct tax at source-DTAA-India-Switzerland. [S. 5(2), 9(1)(vii), 195, Art. 12]

Chariot International (P.) Ltd. v. Dy. CIT (2021) 279 Taxman 477 (Karn.)(HC)

S. 37(1) : Business expenditure-Sales commission-Failure to prove service rendered-Disallowance is held to be justified.

Wipro Ltd. v. Addl. CIT (2021) 279 Taxman 203 (Karn.)(HC)

S. 37(1) : Business expenditure-Compensation paid to employee through trust-Allowable as revenue expenditure. [S. 36(1)(iv), 36(1)(v), 40A(9)]