S. 16 : Officers and employees, salary, allowances etc- Management trainee- Person appointed on probation for a specified period – Does not get confirmation automatically.
Anand Kumar v. ICAI (2019) 262 Taxman 65 (Delhi)(HC)S. 16 : Officers and employees, salary, allowances etc- Management trainee- Person appointed on probation for a specified period – Does not get confirmation automatically.
Anand Kumar v. ICAI (2019) 262 Taxman 65 (Delhi)(HC)S. 271(1)(c) : Penalty–concealment–capital gain exemption claimed–Quantum addition is confirmed-Full disclosure was made –No mala fide intention- Deletion of penalty is held to be justified.
PCIT v. Samir Suryakant Sheth (2019) 103 taxmann.com 197 / 262 Taxman 28 (Guj.)(HC) Editorial : SLP of revenue is dismissed, PCIT v. Samir Suryakant Sheth. (2019) 262 Taxman 27 (SC)S. 271(1)(c) : Penalty–Concealment-Tax paid claimed as deduction- Mistake of chartered accountant–Neither the affidavit nor evidence was produced -Levy of penalty is held to be justified. [S. 37(1), 40(ii)]
Jivanlal and Sons. v. ACIT (2019) 103 taxmann.com 207 / 262 Taxman 24 (Bom.)(HC) Editorial: SLP of assessee is dismissed, Jivanlal and Sons v. ACIT (2019) 262 Taxman 23 (SC)S. 263 : Commissioner-Revision of orders prejudicial to revenue -Bogus purchases and depreciation–Revision is held to be not valid. [S. 32, 69C]
CIT v. Century Plyboards (I) Ltd. (2019) 103 taxmann.com 178 / 262 Taxman 14 (Cal.)(HC) Editorial: SLP of revenue is dismissed, CIT v. Century Plyboards (I) Ltd. (2019) 262 Taxman 13 (SC)S. 260A : Appeal-High Court-Delay of 224 days-Ex-Chairman’s health ailment was sufficient cause- Delay was condoned and High Court is directed to hear the appeal on merits .
Aakash Lavlesh Leisure (P.) Ltd. v. ITO (2019) 262 Taxman 2/ 177 DTR 57 /308 CTR 200 (SC) Editorial: Aakash Lavlesh Leisure (P.) Ltd. v. ITO (2019) 103 taxmann.com 247/ 262 Taxman 4 (Bom.)(HC)S. 215 : Interest payable by assessee–Advance tax-Non deposit of amount by non -resident assessee–Levy was held to be not valid -No question of law.[S. 260A]
CIT (IT) v. Shanghai Electric Group Co. Ltd. (2019) 103 taxmann.com 112 / 262 Taxman 26 (Delhi)(HC) Editorial: SLP of revenue is dismissed, CIT(IT) v. Shanghai Electric Group Co. Ltd. (2019) 262 Taxman 25 (SC)S. 148 : Reassessment – Notice in the name of deceased assessee- For acquiring jurisdiction to reopen an assessment, notice should be issued in name of living person, i.e., legal heir of deceased assessee-S292B could not be invoked to correct a fundamental/substantial error- Notice is held to be bad in law .[ S.147, 292B, 292BB ]
Sumit Balkrishna Gupta. v. ACIT (2019) 414 ITR 292 / 262 Taxman 61/ 178 DTR 286 / 309 CTR 182 (Bom.)(HC)S. 148 : Reassessment-Recorded reasons not communicated – Produced before the Tribunal- Reassessment is bad in law. [S. 147]
PCIT v. Ramaiah (2019) 103 taxmann.com 201 / 262 Taxman17 ( Karn) (HC) Editorial : SLP of revenue is dismissed. PCIT v. Ramaiah (2019) 262 Taxman 16 (SC)S. 80HHD : Convertible foreign exchange –Hotel- Tour operator- Double deduction under Chapter VIA- Entitlement of deduction under diverse provisions in respect of same income- Matter referred to larger Bench. [S. 80IA]
PCIT v. E.I.H. Ltd. (2019) 262 Taxman 6 (SC) Editorial : Refer PCIT v. E.I.H. Ltd. (2019) 103 taxmann.com 203 ( Cal) (HC) / 262 Taxman 7 ( Cal) (HC)S. 80HHC : Export business–Interest- Business income -Interest charged on delayed payment of sale consideration is assessable as business income.[S. 28(i)]
PCIT v. Atul Ltd. (2019)103 taxmann.com 249 / 262 Taxman 11 (Guj) (HC) Editorial: SLP of revenue is dismissed, PCIT v. Atul Ltd. (2019) 262 Taxman 10 (SC)