S. 144B : Faceless Assessment-Show casue notice-One day time was given-Personal hearing was not requested-Writ dismissed due to availability of alternate statutory remedy. [S. 143(3), 246A, Art. 226]
British Agro Products (India)(P) Ltd. v. ACIT (2022) 285 Taxman 141 (Mad.)(HC)
Digest of case laws
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This Digest of case laws is prepared by KSA Legal and AIFTP from judgements reported in BCAJ, CTR, DTR, ITD, ITR, ITR (Trib), Chamber's Journal, SOT, Taxman, TTJ, BCAJ, ACAJ, www.itatonline.org and other journals
Click here to download the pdf versions of the Digest of case laws S. 142(2A) : Inquiry before assessment-Special audit-Order was passed after giving adequate opportunity and considering the reply of the Assessee-Order is affirmed. [Art. 226]
Rajiv Gandhi Proudyogiki Vishwa Vidyalaya v. UOI (2022) 285 Taxman 208 (MP)(HC)S. 139 : Return of income-Delay in submitting ITR-V did not make e-filed return for assessment year 2008-09 invalid for denying carry forward of losses claimed in such return. [S. 80]
PCIT v. Electronics and Controls Power Systems (P.) Ltd. (2022 285 Taxman 92 / 212 DTR 233 / 326 CTR 233 (Karn.)(HC)S. 115JB : Book profit-Not applicable to banking companies.
CIT LTU v. Canara Bank (2022) 285 Taxman 420 (Karn.)(HC).Editorial : Notice issued in SLP filed by Revenue , CIT v. Canara Bank (2022) 287 Taxman 462/ 114 CCH 321 (SC)S. 92C : Transfer pricing-Arm’s length price-Exclusion of comparable-Functionally assets and risk test-Order of Tribunal is affirmed. [S. 260A]
PCIT v. Fluor Daniel India (P.) Ltd. (2022) 134 taxmann.com 356 (Delhi)(HC) Editorial : Notice is issued in SLP filed by the revenue; PCIT v. Fluor Daniel India (P.) Ltd. (2022] 285 Taxman 280 (SC)S. 80P : Co-operative societies-A co-operative society registered under Karnataka Souharda Sahakari Act, 1997 would be construed as co-operative society-Entitle to claim benefit.[S. 2(19)]
Sri Martha Vividoddesha Pathima Souharda Sahakarii Niyamitha v. UOI (2022) 285 Taxman 230 (Karn.)(HC)S. 80P : Co-operative societies-A co-operative society registered under Karnataka Souharda Sahakari Act, 1997 would be construed as co-operative society-Entitle to claim benefit. [S. 2(19)]
Government of India Ministry of Finance v. Karnataka State Souharda Federal Co-operative Ltd. (2022] 285 Taxman 529 / 211 DTR 105 / 325 CTR 280 (Karn.)(HC)/Swabhimani Souharda Credit Co -Operative Ltd v . ITO (2022] 285 Taxman 529/ 211 DTR 105/ 325 CTR 280 (Karn) (HC)S. 80IB(10) : Housing projects-Interest on fixed deposits-Derived from business-No other source of income-Deduction allowable. [S. 2(13), 56, 80IA]
PCIT v. West Bengal Hosing Board (2022) 285 Taxmman 32 (Cal.)(HC)S. 80IB(10) : Housing projects-Total area exceeded 15000 sq.ft-Not entitle to deedcution. [S. 80IB(10)(c)]
South City Projects (Kolkata) Ltd. v. PCIT (2022) 285 Taxman 696 (Cal.)(HC)S. 80IB(10) : Housing projects-Amendment brought on 1-4-2020 vide caluses (e) and (f) to section 80IB(10) is prospective in nature-Unaccounted money found in the course of search-Dedcution u/s. 80IB(10) cannot be denied.
Mandavi Builders v. Dy. CIT (2021) 133 taxmann.com 413 (Karn.)(HC) Editorial : SLP is granted to the revenue; DCIT v. Mandavi Builders. (2022) 285 Taxman 4 (SC)