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. 220 : Collection and recovery-Assessee deemed in default–Stay-Issue decided in favour of assessee by CIT(A) in other proceedings-Pendency of appeal before CIT(A)-AO cannot pass the order to deposit 20% of tax in dispute-Stay was granted against recovery of demand.
ARCIL Retail Loan Portfolio 001-D-Trust v. Pr. CIT (2019) 264 Taxman 61 (Bom.)(HC)
S. 201 : Deduction at source-Failure to deduct or pay-Rs. 10 Million US Dollars in escrow account- TDS liability-Notices issued under S 201 and 201(1A) would stand stayed during pendency of proceedings.[ S.195, 201(1), 201(IA)]
Business Process Outsourcing, LLC v. AAR (2019) 264 Taxman 59 (Bom.)(HC)
S. 147 : Reassessment–Second reassessment-High Court set aside the reassessment on one issue–Second reassessment on another ground is held to be not valid. [S. 32, 148]
Rallies India Ltd ( 2018) 411 ITR 452 / 89 taxmann.com 88 (Bom.) (HC) Editorial : SLP of revenue is dismissed, DCIT v. Rallis India Ltd. (2019) 264 Taxman 25 (SC)
S. 147 : Reassessment-After the expiry of four years-No failure to disclose all material facts–Reassessment is bad in law. [S.80IB(10), 148]
Akshar Anshul Construction LLP v. ACIT (2019) 264 Taxman 65 (Bom.)(HC)
S. 132(4) : Search and seizure-Statement on oath–Addition made on the basis of statement on oath–Subsequent retraction- Statement recorded during the course of action which was in presence of independent witness has overriding effect over the subsequent retraction- Addition is held to be valid. [S. 131, 132, 292C]
Bannalal Jat Constructions (P.) Ltd. v. ACIT (2019) 106 taxmann.com 127 / 264 taxman 6 (Raj.)(HC) Editorial: SLP of assessee is dismissed, Bannalal Jat Constructions (P.) Ltd. v. ACIT (2019) 264 Taxman 5 (SC)
S. 54 : Capital gains-Profit on sale of property used for residence-Ownership of land-Housing complex was situated on a piece of land which was occupied by Co-operative Housing Society under a long term lease- Exemption cannot be denied in respect of sale of flat in a society. [S. 45]
PCIT v. Rahul Uday Tuljapurkar (2019) 264 Taxman 36/ 180 DTR 132/ 310 CTR 800 (Bom.)(HC)