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. 147 : Reassessment—Notice issued based on overruled judgment is illegal and improper. [S. 43D, 148]

Aravali Kshetriya Gramin Bank v. ACIT (2018) 409 ITR 242 (Raj.)(HC)

S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts- Reassessment is bad in law. [S. 148]

CIT v. Santech Solutions Pvt. Ltd. (2018) 409 ITR 301 (Mad.)(HC)Editorial: SLP dismissed due to low tax effect, PCIT v. Santech Solutions Pvt. Ltd ( 2019) 263 Taxman 248 (SC)

S. 92C : Transfer pricing–Arm’s length price–Comparable- Working capital adjustment–Question of fact–No substantial question of law. [S. 260A]

CIT v. Goldman Sachs Services P. Ltd. (2018) 409 ITR 268 (Karn) (HC)

S. 68 : Cash credits—Credit entries in bank account is not explained satisfactorily–Genuineness of transaction is not proved -Order of Tribunal confirming the addition is held to be justified. [S. 69A]

Kailash Swaroop Agarwal v. CIT (2018) 409 ITR 210 (Raj.)(HC)

S. 41(1) : Profits chargeable to tax – Remission or cessation of trading liability -Liability continued to be shown in balance-sheet — Addition cannot be made as deemed income.

CIT v. Eco Auto Components Pvt. Ltd. (2018) 409 ITR 202 (P&H) (HC)

S. 36(1)(vii) : Bad debt–Sums written off in books of an assessee is sufficient to claim the bad debt and assessee is not required to prove the recoverability of debt.

CIT v. Eco Auto Components Pvt. Ltd. (2018) 409 ITR 202 (P&H) (HC)

S. 36(1)(va) : Any sum received from employees–EPF-ESI-Contribution from employees has to be paid within due date as per particular enactment-Disallowance is held to be justified. [S. (2924)(x), 43B]

Unifac Management Services (India) Pvt. Ltd. v. DCIT (2018) 409 ITR 225/ (2019) 260 Taxman 60/ 175 DTR 5 / 307 CTR 168 (Mad.)(HC)

S. 35DDA : Amortisation of expenditure – Voluntary retirement scheme -Deduction relating to Financial Year 2000-01, Being Fifth Year deduction is available.

CIT v. Eco Auto Components Pvt. Ltd. (2018) 409 ITR 202 (P&H)(HC)

S. 14A : Disallowance of expenditure – Exempt income – No disallowance can be made when the assessee has not earned any exempt income during the year. [R. 8D]

CIT v. Goldman Sachs Services P. Ltd. (2018) 409 ITR 268 (Karn.)(HC)

S. 10(14) : Special allowance or benefit-Employees of Life Insurance Corporation-Fixed conveyance allowance, additional conveyance allowance and expenses under head reimbursement of expenses scheme is entitled to exemption-Tax deducted at source to be reimbursed to the employees and benefit under S.89 to be extended on reimbursement of deduced amount. [S.10(14)(ii), 89, 192, R. 2BB]

K. S. Chaudhary and others v. Life Insurance Corporation Of India (2018) 409 ITR 258 (Delhi)(HC) Rajesh Kumar Gupta v. Senior Divisional Manager , Life Insurance Corporation of India (2018) 409 ITR 258 (Delhi) (HC)