S. 144C : Reference to dispute resolution panel-No variation in income-Draft assessment order was not warranted. [S. 92C, 143 (3)]
Silver Bella Holdings Ltd. v. ACIT(IT) (2021) 189 ITD 678 (Delhi) (Trib.)S. 144C : Reference to dispute resolution panel-No variation in income-Draft assessment order was not warranted. [S. 92C, 143 (3)]
Silver Bella Holdings Ltd. v. ACIT(IT) (2021) 189 ITD 678 (Delhi) (Trib.)S. 144 : Best judgment assessment-Civil construction-Rejection of books of account-Estimation of 5% of net profit on gross receipts-Tribunal estimated at 3%. [S. 145(3)]
Shri Lakshmanan v. ITO (2021) 189 ITD 499 (Chennai)(Trib.)S. 144 : Best judgment assessment-Change of jurisdiction-Fresh notice was not issued-Assessment is held to be bad in law. [S. 120, 143(2)]
Cosmat Traders (P.) Ltd. v. ITO (2021) 189 ITD 504 (Kol.)(Trib.)S. 143(3) : Assessment-Cash credits-Mismatch of tax deducted at source-Turnover-Difference in 26AS and actual turnover-Addition cannot be made only on the basis of information as per form No. 26AS. [S. 68]
ITO v. Star Consortium (2021) 189 ITD 105 (Kol.)(Trib.)S. 143(3) : Assessment-Information received from seller-Material Collected at the back of the assessee-Opportunity of cross examination was not provided-Addition cannot be made. [S. 131 147, 148]
Sunita Gadde (Smt.) v. ITO (2021) 211 TTJ 898 / 88 ITR 21 (SN)/ 202 DTR 51 (Delhi)(Trib.)S. 143(2) : Assessment-Notice-Jurisdiction-Order passed without issuing notice under section 143 (2)-Assessment is without jurisdiction and null and void. [S. 68, 143 (3)]
Eversafe Securities (P.) Ltd. v. ITO (2021) 189 ITD 642 (Kol.) (Trib.)S. 115-O : Domestic companies-Tax on distributed profits-Rate in force-Non-Resident share holders-Double Taxation avoidance agreement-DTAA being more beneficial to assessee would be applicable over rate specified in section 115-O-Matter remanded. [S. 2(37A), 4, 90]
DCIT v. Indian Oil Petronas (P.) Ltd. (2021) 189 ITD 490/ 214 TTJ 123 / 207 DTR 131 (Kol.) (Trib.)S. 115JB : Book profit-Business loss-Depreciation loss-Available for reduction from book profits till it was wiped off. [S. 28(i), 32, 72]
GO Airlines (India) Ltd. v. DCIT (2021) 189 ITD 430 / 198 DTR 113 / 209 TTJ 731 (Mum.)(Trib.)S. 92C : Transfer pricing-Arm’s length price-Reimbursement of expenses-Mark up was directed to be re-examined.
Tata Coffee Ltd. v. DCIT (2021) 189 ITD 128 (Bang.)(Trib.)S. 92C : Transfer pricing-Arm’s length price-Interest free advance-LIBOR rate and not domestic lending rate-Loan to AE-International Transaction. [S. 92B]
Electrosteel Castings Ltd. v. DCIT (2021) 189 ITD 183 (Kol.) (Trib.)