Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


My Guest House Accommodations Pvt. Ltd. v Dy. CIT (2021) 91 ITR 45 (SN) (Delhi)(Trib.)

S. 271(1)(c) : Penalty-Concealment-Ad hoc disallowance-Penalty is not sustainable.

Jamsetji Tata Trust v. ACIT (2021) 198 DTR 46 (Mum.)(Trib.) Interocean Shipping (India) Pvt. Ltd. v. DCIT (2021) 91 ITR 63 (SN) (Delhi)(Trib.) S. D. Constructions v ACIT (2021) 91 ITR 43 (SN) (Kol.)(Trib.) Transgulf Frozen Foods Containers Pvt. Ltd. v. ACIT (2021) 91 ITR (Trib.) 22 (Delhi)(Trib.)

S. 271(1)(c) : Penalty-Concealment-Denial of exemption u/s 11-High Court admitted the appeal-Not specifying the specific limb of section 271(1)(c)-Penalty not leviable. [S. 11. 13, 260A]

Majestic Stock Pvt. Ltd. v. PCIT (2021) 91 ITR 71 (SN) (Jaipur)(Trib.)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Show cause notice and discussion restricted too share application money-Reassessment order not erroneous and prejudicial to revenue-Revision order was quashed. [S. 68, 147, 148]

Chandravadan Desai v. PCIT (2021) 91 ITR 78 (SN) (Kol.)(Trib.)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Reassessment-Revision notice a verbatim copy of reasons recorded by Assessing Officer for reopening assessment-Assessing Officer Accepting returned income after verifying explanation-Revision by PCIT not sustainable. [S. 143(3), 147]

Ashish Dham v. PCIT (2021) 91 ITR 75 (SN) (Delhi)(Trib.)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Proceedings for rectification was dropped-Revision based on audit objection-Revision is not sustainable. [S. 24B, 154]

P. S. Srijan Height Developers v. PCIT (2021) 91 ITR 246 (Kol.) (Trib.)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Interest expenditure allowed after conducting enquiry-Revision is held to be not valid. [S. 143(3)]

India Cements Ltd. v. Dy. CIT (2021) 91 ITR 541 (Chennai)(Trib.)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Set off of brought forward business loss-No excess unabsorbed depreciation allowed while computing book Profit-Issue of show-cause notice beyond period of two years from date of original assessment Order-Revision barred by limitation-Revision quashed. [S. 115JB]

Gopal Chandra Manna v. PCIT (2021) 91 ITR 193 (Kol.)(Trib.)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Mistake committed by consultant in declaring wrong turnover in service tax returns-Assessing Officer making addition of profit element embedded in undisclosed receipts at 8 Per Cent.-Order of revision not valid. [S. 143(3)]

Bhavya RPG Trust v. PCIT (2021) 91 ITR 135 (Delhi)(Trib.) Varnika RPG Trust v. PCIT (2021) 91 ITR 135 (Delhi)(Trib.) Dhruv Gupta (Manish Dhruv Trust) v. PCIT (2021) 91 ITR 135 (Delhi.)(Trib.)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Trust deed providing for its dissolution on beneficiary attaining age 18-Revenue was informed about dissolution of Trust-Notice issued in name of trust after extinguishment of trust-Not curable defects-Notice illegal and Order to be quashed. [S. 143(3), 292B]

Dy. CIT v. Mumbai Nasik Expressway Ltd. (2021) 91 ITR 486 (Mum.) (Trib.)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Revision order was quashed-Assessment order passed consequent of revision order is quashed. [S. 32(1)(ii), 143(3)]