Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


PCIT v. Ambady Krishna Menon (2024) 471 ITR 366 /163 taxmann.com 141 (Ker) (HC)

S. 271(1)(c) : Penalty-Concealment-Capital gains-Additional income is accepted in the revised return-Penalty notice not specifying the charge-Order of Tribunal deleting the penalty is affirmed.[S. 143(1), 148]

CIT v. State Bank Of Mysore (2024)471 ITR 760 (Karm) (HC) Editorial : SLP of Revenue is dismissed, question of law is kept open, CIT v. State Bank Of Mysore (2024)471 ITR 761 (SC) (HC)

S. 271(1)(c) : Penalty-Concealment-Not specifying the charge-Order of tribunal deleting the penalty is affirmed. [S. 260A]

CIT v. State Bank Of Mysore (2024)471 ITR 761 (SC) Editorial : CIT v. State Bank Of Mysore (2024)471 ITR 760 (Karm) (HC)

S. 271(1)(c) : Penalty-Concealment-Not specifying the charge-Order of Tribunal deleting the penalty is affirmed-SLP of Revenue is dismissed. [Art. 136]

Shameer Razaik v. PCIT (2024) 471 ITR 448 (Karn)(HC)

S. 264: Commissioner-Revision of other orders-Principle of natural justice-Order passed without giving an assessee adequate opportunity to be heard is set aside.[S. 5, Art. 226]

PCIT v. Rinki Shashikant Gandhi (2024)471 ITR 321 (Guj) (HC)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Sale of immovable property-Allowing deduction on amount paid directly by purchaser to release charge of mortgage in property sold under attachment due to personal guarantee given by assessee-Discharge of debt-Order of the Assessing Officer to allow the claim is nether erroneous nor prejudicial to the interest of Revenue. [S. 143(3), 260A]

CIT v. Paradeep Phosphates Ltd. (2024) 471 ITR 419 (Orissa) (HC) Editorial :SLP of Revenue is dismissed, CIT v. Paradeep Phosphates Ltd. (2024) 471 ITR 419 (Orissa) (HC)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Remittances to non-resident-Import of raw materials-Deduction of tax at source-Tribunal setting aside the order of Commissioner-Commissioner cannot make addition without directing the Assessing Officer to re-examine issue. [S. 40(a)(ia), 195, 254, 260A]

CIT v Paradeep Phosphates Ltd.(2024) 471 ITR 422 (SC) Editorial : CIT v. Paradeep Phosphates Ltd. (2024) 471 ITR 419 (Orissa) (HC)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Remittances to non-resident-Import of raw materials-Deduction of tax at source-Tribunal setting aside the order of Commissioner-Commissioner cannot make addition without directing the Assessing Officer to re-examine issue-Order of High Court is affirmed-SLP of Revenue is dismissed. [S. 40(a)(ia), 195, 254, Art. 136.]

Jila Sahakari Kendriya Bank Maryadit v. PCIT(2024)471 ITR 413 (MP) (HC) Editorial: SLP is dismissed, assessee at liberty to avail of remedy of legacy Dispute resolution, Jila Sahakari Kendriya Bank Maryadit v. PCIT(2024) 471 ITR 417 (SC)

S.260A : Appeal-High Court-Reassessment-Matter is remanded to the Assessing Officer-Over due interest-Non forming asset-Question of fact.[S. 36(1)(viia) 43D, 147, 148]

Jila Sahakari Kendriya Bank Maryadit v. PCIT (2024)471 ITR 417 (SC) Editorial: Jila Sahakari Kendriya Bank Maryadit v. PCIT (2024)471 ITR 413 (MP) (HC)

S. 260A : Appeal-High Court-Reassessment-Matter is remanded to the Assessing Officer-Over due interest-Non forming asset-Question of fact-SLP is dismissed-Assessee at liberty to avail of remedy of legacy dispute resolution. [S. 36(1)(viia), 43D, 147, 148, Art. 136]

L. A. Developers v. CIT (2024) 471 ITR 437 (Orisa) (HC) Editorial : SLP of assessee is dismissed, L. A. Developers v. CIT (2024) 471 ITR 444 (SC)

S. 254(1) : Appellate Tribunal-Powers-Ex-parte order by CIT(A)-Tribunal set a side the matter to decide on merits-The assessee trying to use technical reasons-Appeal is dismissed. [S. 147, 255 (8), 263, 260A]