S. 271C : Penalty – Failure to deduct at source – Interest- Failure to deduct tax at source at the time of credit of payee-No reasonable cause is shown -Liable to penalty. [S. 194A(4), 273B]
Union Bank of India v. ACIT ( 2018) 172 DTR 337 / 305 CTR 994/(2019) 260 Taxman 23 / 415 ITR 422 (All)(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. 263 : Commissioner-Revision of orders prejudicial to revenue – Clearing and forwarding -Estimate of income -Renting of godown as integral part of business-Plausible view – Revision is held to be not valid. [S. 145]
PCIT v. V. Dhana Reddy & Co( 2018) 100 taxmann.com 357 / (2019) 260 Taxman 112( AP& T) (HC) Editorial: SLP of revenue is dismissed, PCIT v. V. Dhana Reddy & Co. (2019) 260 Taxman 111 (SC)S. 254(2) : Appellate Tribunal-Rectification of mistake apparent from the record–Accommodation entries–Addition was confirmed as cash credits-Opportunity of cross examination- Rejection of rectification was held to be justified. [S. 68]
R. L. Traders. v. ITO (2018) 100 Taxmann.com 331 (2019) 260 Taxman 110 (Delhi)(HC) Editorial : SLP of assessee is dismissed; R.L. Traders. v. ITO (2019) 260 Taxman 109 (SC)S. 254(1) : Appellate Tribunal-Duties-Bogus creditors -Gross profit – Reassessment -Business in iron and steel-Order passed without considering the material placed on record-Matter remanded to reconsideration. [S.68, 147, 148]
Madhu Solanki (Smt.) v. ITO (2019) 260 Taxman 5 (Karn)(HC)S. 147 : Reassessment- Audit objection-Undervaluation of stock-Reassessment is held to be not valid. [S.145, 148]
PCIT v. S. Chand & Co. Ltd( 2018) 100 Taxman.com 352 / (2019) 260 Taxman 108 ( Delhi) (HC) Editorial: SLP of revenue is dismissed; PCIT v. S. Chand & Co. Ltd. (2019) 260 Taxman 107 (SC)S. 145 : Method of accounting- Income -Accural-land development, had been Mercantile system of accounting- Cash system of accounting-Cannot adopt cash system in respect of one project and mercantile system in respect of other projects. [ S.5 ]
Ace Real Estate & Developers. v. ACIT (2019) 260 Taxman 37/ 175 DTR 437 / 308 CTR 481(Bom.)(HC)S. 143(3) : Assessment–Merger–Amalgamation-Assessment order in repect of an entity which was not in existence – Held to be nullity. [S. 127, 292BB]
PCIT v. BMA Capfin Ltd. (2018) 100 taxmann.com 329 / (2019) 260 Taxman 90 (Delhi) (HC) Editorial : SLP of revenue is dismissed; PCIT v. BMA Capfin Ltd. (2019) 260 Taxman 89 (SC)S. 132 : Search and seizure – Issue of warrant of authorisation against the locker of the assessee, without disclosing any material or information stating that locker contained valuable jewellery or other articles representing undisclosed income warrant was unjustified and held to be illegal [ S.153A]
Shah E Naaz Judge v. ADIT (2019) 260 Taxman 116/ 306 CTR 42 / 173 DTR 169 (Delhi)(HC)/Sahyr Kohli v ADIT (2019) 260 Taxman 116/ 306 CTR 42/ 173 DTR 169 (Delhi)(HC) Sandeep Kohli v. ADIT (2019) 260 Taxman 116/ 306 CTR 42/ 173 DTR 169 (Delhi)(HC)S. 127 : Power to transfer cases–Recording of reasons–Non application of mind -Reason must disclose that patently, logic and prudence has been applied before passing the order– Decentralisation of central charges cannot constitute sufficient reason to transfer the cases.
PCIT v. Rohtas Project Ltd. (2018) 100 Taxman 383 / (2019) 260 Taxman 95 (All.)(HC) Editorial : SLP of revenue is dismissed ;PCIT v. Rohtas Project Ltd. (2019) 260 Taxman 94 (SC)S. 80IA : Industrial undertakings – Infrastructure development-
Container Freight Station (CFS)- Eligible for deduction.