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. 158BC : Block assessment-Undisclosed Income-Share application money-No incriminating material found during search-Addition is held to be not justified-Interest-Delay in filing return-No provision to charge interest beyond date of original assessment. [S.158BFA(1)]
V. Ramprasad Raju v. CIT (2021) 86 ITR 33 (SN) (Bang.)(Trib.)
S. 153D : Assessment-Search-Approval-Search-Charitable Trust-Siphoning off of funds by founder-Approval given without application of mind-Assessment null and void. [S. 10(23C), 12AA]
Uttarakhand Uthan Samiti v. ITO (2021) 86 ITR 695 (Delhi)(Trib.)
S. 153C : Assessment-Income of any other person-Search-Failure to file return-Assessment valid–Material found and seized during search pertaining to financial year 2007 having no bearing on determination of total income-Additions deleted. [S.132]
Meja Filling Station v. Dy.CIT (2021) 86 ITR 40 (SN) (All.)(Trib.)
S. 153A : Assessment-Search-Brokerage on land transaction-Cash system of accounting-Addition cannot be made when the brokerage was not received. [S. 132]
Navin Malde v. ACIT (2021) 86 ITR 17 (SN) (Indore)(Trib.)
S. 153A : Assessment-Agricultural land-No incriminating material was found in the course of search-Addition not sustainable.
Mohd. Atique v. ACIT (2021) 86 ITR 4 (SN) (Indore)(Trib.)
S. 153A : Assessment-Search-Share application money-No incriminating material was found-Assessment was not abated-addition is held to be bad in law. [S. 68, 132, 143(3)]
Sensitive Vanijya P. Ltd. v. ACIT (2021) 86 ITR 99 (Kol.)(Trib.)
S. 153A : Assessment-Search-Without incriminating material addition is held to be not justified-Addition based on valuation report which was not available on the date of search is held to be not valid. [S. 132, 132(9D)]
ACIT v. Narula Educational Trust (2021) 86 ITR 365 (Kol.)(Trib.)
S. 153A : Assessment-Search-No incriminating material was found-Ad-hoc disallowance of 50 % of expenditure is unsustainable-Addition claim which was made before the CIT (A), order of CIT (A) directing the AO to consider the said claim is held to be valid. [S. 250]
ACIT v. Arvind Srinivasan (2021) 86 ITR 84 (Chennai)(Trib.)
S. 147 : Reassessment-Change of opinion-Metal loan from members-Consistent method-Reassessment is bad in law. [S. 148]
Rajarathnam’s Jewels v. ACIT (2021) 86 ITR 20 (SN) (Bang.)(Trib.)
S. 147 : Reassessment-No addition was made in respect of reasons recorded-Addition of long term as bogus-Reassessment is held to be bad in law. [S. 148]
Vijeta Shukla (Smt.) v. Dy. CIT (2021) 86 ITR 169 (Luck.)(Trib.)