Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


ACIT v. Sur Buildcon Pvt. Ltd. (2021) 90 ITR 300 (Delhi)(Trib.) ACIT v. BBN Transportation Pvt. Ltd. (2021) 90 ITR 300 (Delhi) (Trib.) ACIT v. Goldstar Cement Pvt. Ltd. (2021) 90 ITR 300 (Delhi)(Trib.)

S. 147 : Reassessment-Survey-Inspectors report was not shown-Cross examination of witness was not provided-Reassessment was quashed. [S. 68, 148]

Gurgaon Gramin Bank v. ACIT (2021) 90 ITR 11 (SN) (Delhi) (Trib.) Haryana Gramin Bank v. ACIT (2021) 90 ITR 11 (SN) (Delhi) (Trib.)

S. 143(3) : Assessment-Amalgamation of Banks by Gazette Notification-Assessment in the name of amalgamated or merged Entity-Assessment in the name of non-existent entities is held to be not sustainable.

Gulab Singh v. ITO (2021) 90 ITR 93 (SN) (All.)(Trib.)

S. 143(3) : Assessment-Income from undisclosed sources-Survey-Discrepancy of stock-Addition can be made only to the extent of profit element in sales considering the average sale price as ascertainable from sales recorded and not entire sale proceeds. [S. 133A]

Max Realities LLP v. Dy. CIT (2021) 90 ITR 42 (SN) (Mum.)(Trib.)

S. 143(3) : Assessment-Bogus purchases-Grey market-Affidavit before Sales tax department-Only profit element can be estimated. [S. 133(6)]

Eminent Infradevelopers Pvt. Ltd. v. Dy.CIT (2021) 90 ITR 678 (Delhi)(Trib.)

S. 142(2A) : Inquiry before assessment-Special audit-Writ petition was pending-No stay of proceedings-Assessment completed beyond statutorily prescribed period-Barred by limitation. [S. 153A, 153B

ITO v. Hairr Appliances (India) Pvt. Ltd. (2021) 90 ITR 47 (Delhi)(Trib.)

S. 92C : Transfer pricing-Arm’s length price-Advertisement and publicity expenses-Margin earned higher than the third party transactions-Adjustment made was deleted.

Johnson Matthey Chemicals India P. Ltd. v. Dy. CIT (2021) 90 ITR 75 (SN) (Pune)(Trib.)

S. 92C : Transfer pricing-Arm’s length price-Consultancy services-Matter remanded.

Invitrogen Bioservices India Pvt. Ltd. v. ACIT (2021) 90 ITR 91 (SN) (Bang.)(Trib.)

S. 92C : Transfer pricing-Arm’s length price-Functional dissimilarity-Product company having inventories and undertaking very high level research work-Excluded from list of comparable Companies. [S. 92CA]

Dell International Services India P. Ltd. v. Add. CIT (LTU) (2021) 90 ITR 61 (SN.) (Bang.)(Trib.)

S. 92C : Transfer pricing-Arm’s length price-Functionally different-Cannot be comparable.

Venoor Co-Operative Agricultural Bank Ltd. v. ITO (2021) 90 ITR 20 (SN) (Bang.)(Trib.)

S. 80P : Co-operative societies-Interest and dividend-Profits attributable to activity of providing credit facilities to its members-Matter remanded to the Assessing Officer. [S. 80P(2)(a)(i), 80P(2)(d)]