Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Reliance Industries Ltd. v. CCIT (2022) 441 ITR 434 / 209 DTR 51 / 324 CTR. 1/ 285 Taxman 610 (Bom.)(HC) .Editorial ,SLP of assessee dismissed , Reliance Industries Ltd. v. CCIT ( 2022 ) 443 ITR 358 (St) / 287 Taxman 223 (SC)

S. 9(c) : Act not to apply in certain cases-Disqualification of persons under prosecution-Named in charge sheet and first information report-Denial of benefit is held too be valid. [Indian Penal Code, 1860, S 120B, 420, Prevention of Corruption Act, 1988, S. 131(1)(d), 132(2), Art. 226]

Om Shivam Buildcon Pvt. Ltd. v. UOI (2022) 441 ITR 655/ 213 DTR 426/ 326 CTR 802 (Bom.) (HC)

S. 4 : Filing of declaration and particulars to be furnished-Pendency of appeal-Condonation of delay-Appeal admitted prior to January 2020-Appeal pending-Directed the respondent to process the declaration. [S. 2(1)(a), Art. 226]

Cooperative Rabobank U A v. CIT(IT) (2022) 284 Taxman 40 (Bom.)(HC)

S. 2(f) : Disputed tax-Amount payable by declarant-Interest-Interest granted under section 244A cannot be recovered by revenue authority under Direct Tax Vivad se Vishwas Act, 2020, by adding same to amount of disputed tax payable by assessee. [S. 3, IT ACT, S. 234D, 244A, Art. 226]

Jayantilal K. Bhagat v. ACIT (2022) 445 ITR 515/ 324 CTR 632 / 210 DTR 81 (Bom.)(HC)

S. 2(1)(a)(ii) : Appellant-Locus standi-Rejection of application on the ground that there is no clarity of Legal Heirs-Appeal was filed beyond limitation period-Rejection of application was held to be not valid-Directed the Designated Authority to accept the declaration [S. 3, 4(1), IT Act, S. 132, Art. 226]

Karanja Terminal & Logistic Pvt. Ltd. v. PCIT (2022) 442 ITR 400 / 211 DTR 161 / 325 CTR 392 / 287 Taxman 410 (Bom.)(HC)

S. 264 : Commissioner-Revision of other orders-Interest receipt was shown as capital receipt-Commissioner refusing to follow the order of Tribunal and dismissing the revision application-Order of Tribunal is binding on the Commissioner-Order of Commissioner was quashed-If any judgements to be relied the Commissioner should give an opportunity to the petitioner to deal with those judgements-Matter remanded. [S. 4, Art.226]

CIT v. Future Corporate Resources Ltd. (2022) 284 Taxman 122 (Bom.)(HC)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Exempt income-Strategic investment-View taken by Assessing Officer being a possible view could not have been interfered by Commissioner-Order of Tribunal quashing the revision was affirmed. [S. 14A, R. 8D, 260A]

UOI v. Dodsal Ltd. (2022) 441 ITR 47 / 211 DTR 189 / 325 CTR 273 / 286 Taxman 33 (Bom.)(HC)

S. 220 : Collection and recovery-Assessee deemed in default-Interest-Order of CIT(A) directing to withdraw investment allowance was set aside by the Tribunal-Settlement Commission reducing the interest payable by assessee-Writ of revenue to set aside the order of Settlement Commission was dismissed. [S. 32A, 145, 220(2), 245D(4), Art. 226]

Bharat Petroleum Corporation Ltd. v. ADIT (2022) 284 Taxman 647 (Bom.)(HC)

S. 220 : Collection and recovery-Assessee deemed in default-Stay-Paid 20 percent of disputed demand-Assessee cannot be held to be assessee deemed to be in default-Adjustment of refund without giving an intimation u/s. 245 of the Act is held to be bad in law-Directed to refund with accumulated interest. [S. 245, Art. 226]

Bennett Coleman and Co. Ltd. v. Dy. CIT (2022) 441 ITR 25 (Bom.)(HC)

S. 215 : Interest payable by assessee-Advance tax short of assessed tax-Fresh assessment made by Assessing Officer giving effect to Commissioner’s revision order constitute a regular assessment-Entitle to waiver of interest only to extent stated in order under Rule 40(1). [S. 139(8), 215(4), 215(6), 263]

Samson Maritime Ltd. v. ACIT (2022) 209 DTR 476 (Bom.)(HC) Underwater Service India (P.) Ltd. v. ACIT (2022) 209 DTR 476 (Bom.)(HC)

S. 153A : Assessment-Search or requisition-No incriminating material was produced nor stated in the notice-Notice was quashed as the respondent has failed to specify the seized documents. [S. 132, 132A, Art. 226]