Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Padma Rao (Ms.) v. CIT (2024) 159 taxmann.com 30 /228 TTJ 109 / 235 DTR 193 / 38 NYPTTJ 136 (Delhi) (Trib)

S. 4 : Charge of income-tax-Capital or revenue-Business income-Compensation-Other payments-Income chargeable to tax-Compensation for termination (nonrenewal) of professional contract-Profession-Retrenchment-Freelance journalist-Compensation being capital receipt is not taxable. [S. 4, 28(ii)(e), 32(1)(iv), 56(2)(xi), Industrial Relations Code, 2020, S. 2(ZA)]

Nilons Enterprises (P) Ltd. v. JCIT (2023) 37 NYPTTJ 1363 (2024) 227 TTJ 757 / 234 DTR 9 / 161 taxmann.com 566 (Pune)(Trib)

S.271D: Penalty-Takes or accepts any loan or deposit-Book adjustment entries-No violation of section. 269SS-Penalty is deleted. [S. 269SS]

Daffodills Pharmaceuticals Ltd. v. PCIT (2023) 157 taxmann.com 195 / 37 NYPTTJ 1306 /(2024) 227 TTJ 870 / 239 DTR 247 (Delhi)(Trib)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Reassessment-Lack of proper enquiry-Issues not subject-matter of reassessment-Issue which is not subject matter of reassessment, Commissioner cannot direct the Assessing Officer to carry out the enquiry as suggested by the Commissioner. [S. 37(1), 40A(2)(vi), 40A(2)(b), 147, 148]

ITO v. Bishambhar Dayal Agrawal (2024) 227 TTJ 38 (UO)/ 161 taxmann.com 1063 (Raipur) (Trib)

S. 254(1): Appellate Tribunal-Powers-Cross objection-Performance guarantee-Deposit-Jurisdictional issue-Ground raised orally-Validity of reassessment-Respondent can raise the issue orally-CIT(A) deleted the addition on merits-Revenue appeal-The Respondent can raise the grounds of validity of reassessment-Rule 27 of the ITAT Rules, 1963, does not propose raising the objection in writing-The respondent is well within his right to raise the ground orally-Reassessment is quashed on change of opinion. [S. 37, 69, 147, 148, ITAT R.1963, 27]

ITO v. K. Murugan (2023) 37 NYPTTJ 861 / (2024) 227 TTJ 121 / 233 DTR 72 (Chennai)(Trib)

S. 250 : Appeal-Commissioner (Appeals)-Dismissal of appeal-Ex parte order-CIT(A) is directed to decide the appeal on merits. [S.246A]

Bheru Lal Garg v.ITO (2023) 157 taxmann.com 602/ 37 NYPTTJ 1684/ (2024) 227 TTJ 356 / 233 DTR 353 (Jodhpur)(Trib)

S. 206C : Collection at source-Trading-Forest produce-Minor forest product-Forest product-Vegetable and animal origin, such as grasses, bamboos, canes, tans, dyes, oils, gums, resins, fibres, flosses, leaves, drugs, spices, poisons, edible products and animal prod-Minor forest products-Not liable to collect tax at source Agricultural product in the nature of Mahua Oil, Puhad, Ambadi, Dolma Kanji, Ratanjot and the cattle feed (Bhusa and Khal), etc. is not liable to collect tax at source. [S. 206C(1), 206C(6A), 206C(7) ]

Vivriti Cibus 013 2017 v. ITO [2023] 157 taxmann.com 273/37 NYPTTJ 1641 / (2024) 227 TTJ 1 / 233 DTR 188 (Mum)(Trib)

S. 194LBC : Deduction at source-Investment in securitization trust-Assessee in default-Excess Interest Spread by securitization trust group-Pass through certificates by originator-No liability to deduct TDS from the payment of Excess Interest Spread by securitization trust-Not an assessee in default. [S.115TCA, Explanation (d), 201(1)]

ITO v. S.A. Singh & CO (2024) 227 TTJ 561 / 240 DTR 250 / 38 NYPTTJ 10 (Chd)(Trib)

S. 194C : Deduction at source-Contractors-Freight charges to transporters on behalf of third party under tripartite agreement-Provision is not attracted. [S. 201(1), 201(IA) ]

Dy.CIT v. Gajendra Singh(2023) 37 NYPTTJ 1729 / (2024) 227 TTJ 690 / 237 DTR 122 (Delhi)(Trib)

S. 153C : Assessment-Income of any other person-Search-Not mention of Document Identification No (DIN) in the assessment order-Subsequent separate communication of DIN is a superfluous exercise-Order invalid hence quashed-Circular No. 19 of 2019, dt. 14th Aug., 2019. [S.119, 292B ]

Bhushan Ravindra Dandavate v. Dy.CIT(2023) 37 NYPTTJ 1660 / (2024) 227 TTJ 1005 / 234 DTR 125 (Pune)(Trib)

S. 153C : Assessment-Income of any other person-Search-Cash found in the premises-Cash kept for safe custody-No evidence produced to substantiate the claim-Addition is affirmed.