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
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S. 270A : Penalty for under -reporting and misreporting of income – Not specifying the limb – Levy of penalty is not valid . [ S.270A(8) 270A(9) ]

Shri Shivaji Dattatray Sonawane v. ITO (Pune)(Trib) (UR)

S. 143(3): Assessment – Validity – Addition on account of bogus LTCG – Addition based on some incriminating material found in a search at premises of third parties- Assessment order should have been framed as per provisions of section 153C- assessment order passed under section 143(3) is set aside being bad in law. [ S. 132, 143(1), 153A , 153C ]

Shri Rajender Agarwal v. ACIT (Delhi)( Trib)(UR)

S. 69 : Unexplained investments – investment in the books of account – Evidences to prove genuineness of the purchase- Addition is deleted .[ S. 143(3), 145 ]

Sureshchandra Seksaria HUF v. ITO (Mum) ( Trib.)(UR)

S. 68. : Cash credits – Receipt of share capital/premium – Summons issued to investors returned unserved- Addition cannot be made under section 68 for the mere reason that summons issued to investors were returned unserved . [ S. 131 , 133(6)]

ITO v. Gitika Commodities Pvt. Ltd. ( Kol)(Trib) (UR)

S. 68: Cash credits – long term capital gain –Penny stock – Sale consideration cannot be assessed as un explained cash credits .[ S.45 ]

ITO v. Alpa Rajendra Jain (Mum) (Trib)(UR)

S. 54B : Capital gains – Land used for agricultural purposes – Land purchased in name of Assessee’s wife- The AO is directed to allow the exemption. [ S. 45 ]

Ravinder Kumar v. ITO (Delhi)(Trib.) (UR)

S. 40A(3) : Expenses or payments not deductible – Cash payments exceeding prescribed limits – The tax authorities are not justified in invoking the provisions of S. .40A(3) of the Act without verifying the relevant facts.

Avinash Kumar Ojha v. ITO (Mum.) (Trib.)(UR)

S. 11 : Property held for charitable purposes – Charitable trust – Exemption under section 11 – Allowability – Audit Report in Form No. 10B not filed along with return- AO is directed to verify the Form No. 10B filed by the assessee and allow the claim of exemption under section 11. [ Form No 10B ]

Sri Vetri Vinayagar Educational Trust v. ITO (Chennai )( Trib) (UR)

Central Goods and Services Tax Act, 2017

S. 73 : Determination of tax not paid or erroneously refunded or input tax credit wrongly availed or utilised for any reason other than fraud or any wilful -misstatement or suppression of facts – Demands and recovery – Mere claim of demand being without jurisdiction does not warrant waiver of statutory pre-deposit requirement for filing appeal against GST order- Review – Maintainability – Procedural Lapse – Absence of Proper Advocate’s Certificate – No new grounds for review – Review petition is dismissed with costs of Rs 10000. [S.107, Maharashtra Goods and Services Tax Act, 2017, 226, Bombay High Court (O.S.) Rules, Art. 226]

Supreme Construction & Developers Pvt. Ltd. v. State of Maharashtra & Anr. (Bom) (HC) www.itatonline.org

S. 119: Central Board of Direct Taxes- Powers of CBDT – Genuine hardship – Reassessment – Fictitious income – CBDT’s refusal to allow re computation despite established fraud – Order quashed and set aside. [S. 10A, 119(2)(b), 139(5), 147, 154,245, 264, 281B, Art. 14, 19(1)(g), 226 , 265, 300A ]

Satyam Computer Services Limited v. CBDT (Telangana) (HC) www.itatonline .org .