Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Maharashtra Oil Extraction Private Limited v. Dy.CIT (2022) 287 Taxman 465 / 114 CCH 315 ( Bom) (HC) www.itatonline .org

S. 147 : Reassessment –With in four years-Change of opinion – Payment to related parties – Incentives to senior employees – Difference in VAT return and Turnover as per profit and loss account -Reconciliation – Questions asked in the course of original assessment proceedings – No discussion in the assessment order – Reassessment notice was quashed. [ S. 40A(2)(b) , 148 , Art , 226 ]

Anand Nagar & Company v. CCIT (2022) 209 DTR 313 / 324 CTR 370 (Bom.)(HC)

S. 88 : Tax arrear-Amount payable-Adjustment of refund was made as per request of the assessee-Not disclosed the truth and suppressed the communication-Writ petition was dismissed. [S. 245, Art. 226]

Kamla Chandrasingh Kabali v. PCIT (2022)443 ITR 148 / 211 DTR 1/ 286 Taxman 580 / 325 CTR 264 (Bom.)(HC)/Editorial : Notice is issued in SLP filed by the Revenue , PCIT v. Kamla Chandrasingh Kabali (2023) 294 Taxman 608 (SC)

S. 184 : Charge of tax and surcharge-Payment of tax-Credit for advance tax-Credit for advance tax must be given-Directed the respondents to issue certificate as required by Rule 4(5). [S. 183, 185 IT ACT, S. 139, 199, 210, 219, Art. 226]

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]