Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Mukesh Bhoormal Jain v .ITO (2022) 93 ITR 26 (SN)(Mum) ( Trib)

S.68: Cash credits — Unexplained expenditure — Capital gains —Penny stocks – Accommodation entries – Purchase of shares at premium in off market Transaction — Sale after three years- Report of Investigation Wing-Information never provided nor cross-examination of Individuals allowed — Additions is not valid .[ S. 10(38) 45, 69 ]

Meera Devi Kumawat. (Smt.) v. JCIT (2022) 193 ITD 250 (Jaipur)(Trib.)

S. 271D : Penalty-Takes or accepts any loan or deposit-Amount received from husband-Purchase of plot-Family arrangement-Levy of penalty is not valid. [S. 269SS, 273B]

Sushila Sureshbabu Malge (Smt.) v. ITO (2022) 193 ITD 416 (Mum.)(Trib.)

S. 271B : Penalty-Failure to get accounts audited-Project completion method-Advance received-Not turnover or gross receipt-Bonafide belief-Failure to get audited-Levy of penalty is not valid. [S. 44AB]

Chandra Suresh Kothari v. DCIT (2022) 193 ITD 547 (Nagpur) (Trib.)

S. 271AAB : Penalty-Search initiated on or after 1st day of July 2012-Surrender of income-Neither surrendered income nor penalty was initiated on the basis of undisclosed income found during search-Levy of penalty is not valid. [S. 132]

Chandra Suresh Kothari v. DCIT (2022) 193 ITD 547 (Nagpur) (Trib.)/Unicare Developer and Infrastructure Pvt. Ltd. v. ITO (2022)93 ITR 55 (SN)(Delhi) ( Trib)

S. 271(1)(c) : Penalty-Concealment-Not referring specific charge in the notice or assessment order-Levy of penalty is not valid.

Garden Reach Ship Builders & Engineers Ltd. v. PCIT (2022) 193 ITD 649 (Kol.)(Trib.)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Business expenditure-Corporate social responsibility expenses-Amendment brought by way of Explanation 2 to section 37(1) by Finance Act, 2014, with effect from 1-4-2015 is not retrospective in nature-Revision is held to be not valid. [S. 37(1)]

Abdul Wahab v. ITO (2022) 193 ITD 746 (SMC) (Delhi)(Trib.)

S. 251 : Appeal-Commissioner (Appeals)-Powers-Assessee could not level baseless allegations against CIT(A)-Matter remanded. [S. 250]

Bhaskar Roy v. ITO (2022) 193 ITD 668 (Kol.)(Trib.)

S. 234E : Fee-Default in furnishing the statements-Amendment in section 200A by way of insertion of clause (c) was only with effect from 1-6-2015-Levying late fee for period prior to 1-6-2015 is not valid. [S. 200A]

Bain & Company India (P.) Ltd. v. ITO (TDS) (2022) 193 ITD 787 (Delhi)(Trib.)

S. 195 : Deduction at source-Non-resident-Income deemed to arise in India-Computer software through EULA/distribution agreement, is not payment of royalty for use of copyright in computer software and, thus, same does not give rise to any income taxable in India-Not liable to deduct tax at source-DTAA-India-USA. [S. 9(1)(vi), Copy Right Act, 1957, S. 14(a), 14(b), 52(1)(aa), Art. 12(4)(b)]

ACIT (IT) v. Viacom18 Media (P.) Ltd. (2022) 193 ITD 716 (Mum.) (Trib.)

S. 195 : Deduction at source-Non-resident-Transponder service fee-Not in nature of royalty in hand of recipient-Not liable to deduct tax at source. [S. 9(1)(vii), 195(2)]