S. 271D : Penalty–Takes or accepts any loan or deposit–Burden is on assessee to prove reasonable cause–Burden is not discharged-Levy of penalty is held to be justified. [S. 269SS, 273B]
Listin Stephen v. DCIT (2019) 418 ITR 524 (Ker.)(HC)
Digest of case laws
Online digest of latest case laws
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. 271(1)(c) : Penalty–Concealment–Survey-Amount disclosed in the survey was included in return-Return was accepted–Levy of penalty is held to be not valid. [S. 133A]
CIT v. Shree Sai Developers. (2019) 418 ITR 306 /( 2020) 186 DTR 105/ 314 CTR 641(Guj) (HC)S. 269UD : Purchase by Central Government of immoveable properties–Auction process is conducted bona fide and in public interest-Appellant given several opportunities to bid in fresh auction conducted but not doing so-Sale Confirmed in favour of fresh buyer-No arbitrariness.
Sankalp Recreation Pvt.Ltd v. UOI (2019) 418 ITR 673/ 267 Taxman 565 (SC) Editorial: Order in Sankalp Recreation Pvt.Ltd v. UOI ( 2019) 411 ITR 671/ 258 Taxman 341 (Bom) (HC) is affirmedS. 268A : Appeal–Monetary limit-Appeal dismissed as withdrawn [S. 260A]
PCIT v. India Pistons Ltd. (2019) 267 Taxman 79 (Mad.)(HC)S. 264 : Commissioner-Revision of other orders–Rejection revised return and rectification application-Delay in filing revision application-Directed to condone the delay-CIT is directed to decide on merit. [S. 139(5), 143(1), 154, Art. 264]
Ramupillai Kuppuraj v. ITO (2019) 418 ITR 458/ 311 CTR 873/ 184 DTR 257 (Mad.)(HC)S. 264 : Commissioner-Revision of other orders–husband’s ill health-Transactions in immoveable properties–Unexplained money-Matter remanded for readjudication. [S. 69A, 143(3), Art. 226]
Daxa Bipin Dedhia (Mrs.) v. PCIT (2019) 267 Taxman 62 (Bom.)(HC)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Loan-Unclaimed money–Detailed enquiries were made in the assessment proceedings-Revision is held to be not valid. [S. 68, 143(3)]
Meerut Roller Flour Mills (P.) Ltd. v. CIT (2019) 267 Taxman 18 / 311 CTR 336 / 182 DTR 168/ ( 2020) 420 ITR 216 (All.)(HC)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Capital gains-Payments made to charitable institutions and expenditure towards execution of property–Rightly allowed as deduction by the AO-Revision is held to be not valid. [S. 45, 48. 143(3)]
Kumar Rajaram v. ITO (IT) (2019) 267 Taxman 65 / (2020)423 ITR 185 (Mad) (HC)S. 263 : Commissioner-Revision of orders prejudicial to revenue– Addition to fixed assets–Disallowance u/s. 14A of the Act-Enquiries done by the AO in the original assessment proceedings-Revision is held to be bad in law. [S. 14A, R. 8D]
PCIT v. Kesoram Industries Ltd. (2019) 181 DTR 236/109 taxmann.com 390 / 310 CTR 599/(2020)423 ITR 180 (Cal.)(HC)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Introduction of capital-Loan from brother–NRI for two years-after detailed the AO has accepted the capital and loan as genuine-Revision is held to be not justified. [S. 69A]
CIT v. Kamal Galani (2018) 95 taxmnn.com 261 (Guj.)(HC) Editorial : SLP of revenue is dismissed; CIT v. Kamal Galani (2019) 267 taxman 114 (SC)