S. 143(2) : Assessment – Notice – One return is filed pursuant to notice issued u/s 148 , issue of notice u/s 143(2) is mandatory .[ S. 139,144, 148 ]
CIT v. Staunch Marketing Pvt. Ltd. (2018) 404 ITR 299 (Delhi) (HC)S. 143(2) : Assessment – Notice – One return is filed pursuant to notice issued u/s 148 , issue of notice u/s 143(2) is mandatory .[ S. 139,144, 148 ]
CIT v. Staunch Marketing Pvt. Ltd. (2018) 404 ITR 299 (Delhi) (HC)S. 80HHC : Export business -Income from job working of machining -Income to be considered as business income.
CIT v. Rambal P. Ltd. (2018) 404 ITR 307 (Mad) (HC)S. 68:Cash credits — Source of cash deposit was not explained satisfactorily-Addition was held to be justified .
Ravi Mallick, prop. of Sunkraft designs v. DCIT (2018) 404 ITR 250 (P&H) (HC)S.68:Cash credits — Burden of proof — Mere confirmation is not sufficient, identity , creditworthiness and genuineness was not proved – Addition was held to be justified .
Ram Baboo Agrawal v. CIT (2018) 404 ITR 198 (All) (HC)S. 45(2) : Capital gains – Conversion of a capital asset in to stock-in-trade -Capital gains to be computed on sale up to date of conversion of Land into stock- in-trade and profit on sale of stock in trade to be assessed as business income or loss. Capital gains to be set off against business loss [ S.28(i) ]
CIT v. Essorpe Mills Ltd. (2018) 404 ITR 323 (Mad) (HC)S.40(a)(ia):Amounts not deductible – Deduction at source – Professional fees – Failure to deduct tax at source – Disallowance was held to be justified .
Ravi Mallick, prop. of Sunkraft designs v. DCIT (2018) 404 ITR 250 (P&H) (HC)S. 10AA : Special economic zones – Industrial undertaking- Investment in Plant and Machinery for new unit was substantial compared to value of machinery shifted — Entitled to exemption.
CIT v. Green Fire Exports. (2018) 404 ITR 266 (Raj) (HC) CIT v. Jagdish Prasad Soni (2018) 404 ITR 266 (Raj) (HC)S. 9(1)(vii):Income deemed to accrue or arise in India – Fees for technical services – Services of Crew under separate agreement – Matter remanded to Tribunal -DTAA -India- Germany [ S. 10(15A),Art, 111]
DIT (Inv) v. Modiluft Ltd. (2018) 404 ITR 228/ 255 Taxman 481/ 169 DTR 289 / 2020) 314 CTR 282(Delhi) (HC)/DIT v. Royal Airways Ltd (2018) 404 ITR 228 / 255 Taxman 481 / 169 DTR 289 / (2020) 314 CTR 282 (Delhi) (HC)S. 4 : Charge of income-tax -Capital or revenue —Business of real estate -Compensation received under Arbitration Award is held to be capital receipt .
CIT v. Aeren R Infrastructure Ltd. (2018) 404 ITR 318 (Delhi) (HC)S. 282 : Service of notice –Reassessment-Service of notice at the factory premises of the Assessee on the security guard was held to be valid ,though “service” of notice u/s 147/148 is not a mere procedural requirement, but a condition precedent for initiation of proceedings, the service upon a person who was not authorized to receive notice does not render the proceedings null and void if the assessee complied and entered appearance [ S. 148 , 254(1),292B ]
CIT v. Sudev Industries Ltd ( 2018)405 ITR 325 /167 DTR 297/ 256 Taxman 317/ 304 CTR 338 (Delhi)(HC), www.itatonline.org.Editorial: SLP of assessee is dismissed, Sudev Industries Ltd v CIT ( 2018) 259 Taxman 221 ( SC)