Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


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)]

CIT v. Tamilnadu Road Development Company Ltd. (2021) 436 ITR 323 / 279 Taxman 125 (Mad.)(HC)

S. 32 : Depreciation-Road developed and maintained by it-Entitle to depreciation at 10 percent-Depreciation on Lease hold rights in land-Matter remanded back to Assessing Officer with the direction to analyse contents of agreement entered in to between assessee and SIPCOT and not go merely by nomenclature or title of document.