Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Taeyang Metal India (P.) Ltd. v. Dy. CIT (2024)470 ITR 705 /160 taxmann.com 536 (Mad) (HC)

S. 144C : Reference to dispute resolution panel-Time limit-Direction of DRP-Uploading on ITBA portal on 17-6-2022-Final assessment order was passed on 25-3-2023-Order is barred by limitation. [S.92CA, 144B, 144C(13), Art. 226]

Shapoorji Pallonji Solar Holdings Pvt. Ltd. v. ITO (No. 2) (2024)470 ITR 142 (Mad) (HC) Editorial : Shapoorji Pallonji Solar Holdings Pvt. Ltd. v. ITO(No. 1) (2024)470 ITR 139 (Mad) (HC)

S. 144B : Faceless Assessment-Pendency of appeal before CIT(A)-Direction is issued to the appellate authority to pass an appropriate order on the merits and in accordance with law, after affording an opportunity of personal hearing to the assessee within a period of twelve weeks. [S. 144B(1) (xii), 246A, Art. 226]

Ramona Massar v. UOI (2024) 470 ITR 239/152 taxmann.com 230 (Meghalaya) (HC)

S. 144 : Best judgment assessment-Reassessment-Schedule Tribes-Investment in mutual funds-Return not filed-Not responded to the notice-Alternative remedy-Writ petition is dismissed.[S. 10(26), 139(1),139(4C), 147, 148. Art. 226]

Shyam Communication Systems v. Dy. CIT (2024) 470 ITR 25 (Delhi) (HC)

S. 143(3): Assessment-Order passed without giving assessee an adequate of opportunity of being heard-Order is not valid-The Assessing Officer is directed to pass an appropriate order as per law. [Art.226]

Mundhra Exim (P.) Ltd. v. NFAC(2024)470 ITR 691 /159 taxmann.com 682 (Mad) (HC)

S. 143(3) : Assessment-Unexplained expenditure-Purchase of bullion/jewellery-Question of fact-Writ petition is dismissed.[S.69C, 144B,Central Goods and Service Tax Rules, 2017, Notification No. 12 of 2018 (Central Tax (2018) GSTR (St)1, Art. 226]

PCIT v. Sukhdham Infrastructures LLP (2024)470 ITR 179 / 165 taxmann.com 84 (Cal) (HC)

S. 143(3) : Assessment-Limited scrutiny assessment-Assessing Officer had initially issued notice under section 143(2) for a limited scrutiny on three aspects-Assessing Officer could not have expanded scope of scrutiny without prior to obtaining approval for a complete scrutiny from appropriate authority. [S.119, 143(2), 260A]

Vrushti Aulkumar Shah v. PCIT (2023) 152 taxmann.com 77 /(2024) 470 ITR 229 (Guj) (HC)

S. 119 : Central Board of Direct Taxes-Circular-Defective return-Genuine hardship-Lock down period-Delay in filing application for rectification of error committed in return of income is condoned. [S. 44ADA, 119(2)(b),139(5), 139(9), 154, Art. 226]

PCIT v. Global Logic India Ltd. (2024)470 ITR 149 (Delhi)(HC)

S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax-
International transaction-Foreign exchange gains/loss-Operating income/loss is proper-Comparable-Exclusion of comparable is proper. [S. 260A]

PCIT v. Fiserv India Pvt. Ltd. (2024)470 ITR 145 (Delhi)(HC)

S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Comparable-Gains arising due to fluctuation in rate of foreign exchange-Income-safe harbour

PCIT v. Hellmann Worldwide Logistics India (P.) Ltd. (2024) 470 ITR 97 / 155 taxmann.com 44 (Delhi) (HC)

S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax-
International transaction-Methods for determination of most appropriate method-Internal TNMM and not CUP method-Appellate authorities are not precluded from adopting a method different from that adopted by the assessee in the transfer pricing report-Order of Tribunal is affirmed-No substantial question of law. [S.260A]