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. 145 : Method of accounting–Real estate developer-Project completion method-Addition on the basis of percentage completion method is held to be not justified. [AS-7]

PCIT v. Panchsheel Colonizers (P.) Ltd. (2019) 267 Taxman 571/ 111 taxmann.com 459 (Raj) (HC) Editorial : SLP is granted to the revenue, PCIT v. Panchsheel Colonizers (P.) Ltd. (2019) 267 Taxman 570 (SC)

S. 143(3) : Assessment-Acquittal in Criminal proceedings would not justify deletion of additions to income based on facts-Matter remanded to the AO for fresh enquiry. [S. 254(1) ]

CIT v. R. N. Jayaprakash (2019)419 ITR 252 / (2020) 269 Taxman 527 (Mad.)(HC)

S. 143 (3) : Assessment–Non-existing company–Amalgamation-Assessment on the non-existing is held to be void ab initio.

PCIT v. Transcend MT Services (P.) Ltd. (2019) 267 Taxman 314 (Delhi) (HC)

S. 143(2) : Assessment–Notice–Mandatory-Block assessment–Non issue of notice – Assessment is held to be bad in law. [S. 132, 158BC]

CIT v. Sodder Builder And Developers (P.) Ltd. (2019)419 ITR 436 (Bom.) (HC)

S. 142(2A) : Inquiry before assessment–Special audit–An attempt to understand the books of account-Huge amount of professional fees was paid-Reference to special Audit is held to be valid.

Multi Commodity Exchange of India v. Dy.CIT ( 2019) 310 CTR 274/ 176 DTR 385 / (2020) 426 ITR 132 (Bom.) (HC)

S. 142(2A) : Inquiry before assessment–Special audit–Finding that direction had been issued after condition laid down were fulfilled—Writ is held to be not maintainable. [Art. 226]

Religare Finvest Ltd. v. Dy. CIT (2019)419 ITR 5/( 2020) 312 CTR 432 / 185 DTR 119/ 269 Taxman 541 (Delhi)(HC) Religare Enterprises Ltd v. Dy CIT (2019) 419 ITR 5 /( 2020) 312 CTR 432 / 185 DTR 119(Delhi) (HC)

S. 90 : Double taxation agreement-Rate of tax–Applicable to domestic company and not 65%-CBDT Circular is held to be applicable-DTAA-India-Japan. [Art. 7, 23, 24(2)]

Bank of Tokyo Mitsubishi Ltd. v. CIT (2019) 310 CTR 479 / 181 DTR 220 (Cal.) (HC)

S. 80P : Co-operative societies–Denial of exemption-Alternative remedy – Directed to avail alternative remedy u/s. 246A of the Act. [S. 246A, Art. 226, Tamil Nadu Cooperative Societies Act, 1983]

K274 Uthukuli Primary Agricultural Cooperative Credit Society Ltd. v. ITO (2019) 267 Taxman 374 (Mad.)(HC)

S. 72 : Loss-Carry forward and set off-scheme sanctioned by BIFR-Objection by Revenueto grant tax concession- Writ is held to be not maintainable . . [S. 72A, Sick industrial companies (Special provisions) Act, 1985, S. 18, 19, Art,226 ]

Olympia Industries Ltd. v. UOI (2019) 181 DTR 253/ (2020) 312 CTR 248 / / 424 ITR 202 (Bom.)(HC)

S. 69A : Income from undisclosed sources–No evidence to show that cheques stated to have been issued by the assessee-Deletion of addition is held to be justified.

CIT v. Anoop Jain (2019) 182 DTR 291/311 CTR 58 /( 2020) 268 Taxman 427 / 424 ITR 115 (Delhi)(HC)