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

Securities Transaction Tax (STT) Finance (No. 2) Act, 2004

S. 105 :Penalty for failure to collect or pay securities transaction tax – Penalty not to be imposed inn certain cases – No penalty shall be imposed on assessee for having failed to collect Securities Transaction Tax (STT) or having collected, failed to pay such STT to credit of Central Government without providing it a reasonable opportunity to prove that there was reasonable cause for such failure [ S.108 ]

PCIT v. National Stock Exchange (2020) 272 Taxman 144 (Bom.)(HC), Editorial: National Stock Exchange v. Addl. CIT (2016) 158 ITD 850 / 178 TTJ 409 / 136 DTR 49 (Mum.)(Trib.), affirmed .

Securities Transaction Tax (STT) Finance (No. 2) Act, 2004

S. 105 :Penalty for failure to collect or pay securities transaction tax – Penalty not to be imposed inn certain cases – No penalty shall be imposed on assessee for having failed to collect Securities Transaction Tax (STT) or having collected, failed to pay such STT to credit of Central Government without providing it a reasonable opportunity to prove that there was reasonable cause for such failure [ S.108 ]

PCIT v. National Stock Exchange (2020) 272 Taxman 144 (Bom.)(HC)

Benami Property Transactions Act, 1988
S. 26 :Adjudication of benami property – Appeal – Show cause notice – Not an order appeal is not maintainable [ S. 26 (1), 46 Art , 226 ]

Initiating Officer v. Appellate Tribunal under the Prohibition of Benami Property Transactions, Act, 1988 (2020) 272 Taxman 166 (Delhi)(HC)

S. 268A : Appeal-Monitory tax effect less than of Rs. 1 crore-Appeal dismissed. [S. 260A]

CIT v. Shriram Properties (P) Ltd. (2020) 269 Taxman 313 (Mad.)(HC) PCIT v. Mangal Tirth Estates Ltd. (2020) 269 Taxman 80 (Mad.)(HC)

S. 264 : Commissioner-Revision of other orders-Capital gains-Sale of agricultural land-Order set aside-Matter remanded to the Assessing Officer [S. 45, 54B, Art. 226]

S. Sundaramurthy v. PCIT (2020) 269 Taxman 107 (Mad.)(HC)

S. 254(1) : Appellate Tribunal-Powers-Remand-Fresh claim Wholesale remand for framing a fresh assessment,-Assessing Officer could not deny to evaluate fresh claim raised by assessee during remand assessment proceedings. [S. 144]

Curewel (India) Ltd. v. ITO (2020) 269 Taxman 397 / 185 DTR 145 / 312 CTR 164 (Delhi)(HC)

S. 194C : Deduction at source-Contractors-Payment to cable operators for channel fee-Liable to deduct tax at source under section 194C and not under section 194C of the Act. [S. 194J]

PCIT v. Star Entertainment Media (P) Ltd. (2020) 269 Taxman 66 (Bom.)(HC)

S. 192 : Deduction at source-Salary-Failure to deposit tax deducted at source-Rectification application-Directed the Assessing Officer to consider the rectification application and pass orders on merits in accordance with law. [S. 143(3), 154, 199, Art. 226]

PCIT v. Sankaranarayanan Rajshekar (2020) 269 Taxman 105 (Mad.)(HC)

S. 148 : Reassessment-Objections raised and the Assessing Officer has to pass reasoned order-Challenge of notice is held to be not valid. [S. 147, Art. 226]

Seshasayee Paper and Boards Ltd. v. Dy. CIT (2020) 269 Taxman 120 (Mad.)(HC)

S. 147 : Reassessment-One-time settlement with banker-Capital or revenue-Considered during original scrutiny assessment proceedings-Change of opinion-Reassessment is bad in law. [S. 4, 148, 260A]

PCIT v. Everlon Synthetics (P) Ltd. (2020) 424 ITR 232 /269 Taxman 215 (Bom.)(HC)