Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


PCIT v. Salarpuria Simplex Dwelling LLP. (2022) 289 Taxman 264 / 216 DTR 425 (2023) 455 ITR 712(Cal.)(HC)

S. 145 : Method of accounting-Construction and development of property-Project completion method-Principle of consistency-Not justified in adopting percentage completion method.

Vikas Singhal v. NFA (2022 289 Taxman 243 (Delhi) (HC)

S. 144B : Faceless Assessment-Personal hearing request was rejected-Order was quashed and set aside-Matter remanded back to Assessing Officer for a fresh decision. [S. 143(3),144B(7)(vii), Art. 226]

Muhavoor Primary Agricultural Co-operative Society Ltd. v. NFAC (2022) 289 Taxman 471 (Mad.)(HC)

S. 144B : Faceless Assessment-Principle of natural justice-Technical difficulties-Order passed without granting an opportunity of hearing with sufficient time-Order was set aside. [S. 80P, 144 147, Art. 226]

Afsha Talwar v. UOI (2022) 289 Taxman 696 (Delhi)(HC)

S. 144B : Faceless Assessment-Not granting personal hearing-Unexplained investments-Mutual funds-Joint names-Factual dispute-Pendency of appeal-Writ petition was dismissed. [S. 69, 156, 246A, Art, 226]

CBDT v. Vasudeva Adigas Fast Food (P.) Ltd. (2022) 289 Taxman 148 / 220 DTR 463 / ( 2023) 450 ITR 4/ 331 CTR 92 (SC) Editorial : Order of High Court, affirmed, CBDT v. Vasudeva Adigas Fast Food (P.) Ltd (2021) 437 ITR 67/ 282 Taxman 48(Karn)(HC)

S. 139 : Return of income-Condonation of delay-litigation between promoters and investors-Beyond control of assessee-PCIT and Additional CIT recommending condonation of delay-Rejection of application by CBDT was set aside by High Court was affirmed. [S. 119(1), 119(2)(b), Art, 136, 226]

Murliwala Agrotech (P.) Ltd. v. UOI (2022) 289 Taxman 702/216 DTR 237 / 327 CTR 662 (Raj.)(HC)

S. 127 : Power to transfer cases-Udaipur to Delhi-Opportunity of hearing not granted-Transfer order was set aside. [Art. 226]

PCIT v. Atria Power Corporation Ltd(2022) 142 taxmann.com 412 (Karn.)(HC) Editorial: SLP of Revenue dismissed, PCIT v. Atria Power Corporation Ltd. [2022] 289 Taxman 111 (SC)

S. 115JB : Book profit-Disallowance made under section 14A could not be added for the purpose of computing book profits. [S. 14A]

PCIT v. Dentsply India (P.) Ltd. (2022) 289 Taxman 530 (Delhi)(HC)

S. 92C : Transfer pricing-Arm’s length price-Most appropriate method-Manufacturing and trading of dental products and trading activity-95% trading and 5% manufacturing-Tribunal adopting RPM as MAM to benchmark transaction is held to be justified. [S. 260A]

PCIT v. Amway India Enterprises (2022) 289 Taxman 648/ (2023)455 ITR 325 (Delhi)(HC)

S. 92C : Transfer pricing-Arm’s length price-Comparability factors-Profit Margin/Profit Level Indicator-An enquiry under rule 10B(3) ought to be carried out, to determine as to whether material differences between assessee and said entity can be eliminated and unless such differences cannot be eliminated, entity should be included as a comparable. [R. 10B]

Krishak Bharati Cooperative Ltd. v. JCIT (2022) 142 taxmmann.com 331 (Delhi)(HC) Editorial : SLP of assessee dismissed, Krishak Bharati Cooperative Ltd. v. JCIT (2022) 289 Taxman 75 (SC)

S. 80IA : Industrial undertakings-Infrastructure development-Interest income from employees on advances-Equipment hire charges-Ammonia tank wagon hire charges-Cane hire charges-interest income from banks and financial institutions-Interest on deposits-Not derived from industrial undertaking-Not eligible for deduction. [S. 28(i), 32AB, 56]