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. 18(1)(c): Penalty –Concealment -Difference of opinion between the assessee and the department with respect to the valuation of the property is not a ground for levy of penalty.

PCWT v. Hemant Vitthal Waje (2019) 175 DTR 41/ 307 CTR 216 (Bom.)(HC)

S. 2(ea) : Assets–Commercial establishments or complexes- Exception provided in S. 2(ea)(i)(5) covers all commercial establishments, whether they have one unit or more. [S.2(ea)(i)(5)]

PCWT v. Taradevi Ratanlal Bafna (2019) 174 DTR 201/ 307 CTR 331 (Bom.)(HC)

S. 271AAA : Penalty – Search initiated on or after 1st June, 2007 – Manner of earning the undisclosed income to be given in the statement under 132(4) only if a question is asked to that effect- Deletion of penalty is held to be justified . [ S.132(4) ]

PCIT v. Phoenix Mills Ltd. (2019) 175 DTR 433/307 CTR 700 (Bom.)(HC)

S. 263: Commissioner – Revision of orders prejudicial to revenue –
-Doctrine of merger- Where 80-IC deduction was originally denied by the AO on one ground which was subject matter of CIT(A) and the disallowance was deleted by CIT(A)-CIT could not invoke revision jurisdiction to deny the deduction on another ground. [S.80IC ]

Oil India Ltd. v. P CIT (2019) 175 DTR 185/ 307 CTR 403 /103 taxmann.com 339 (Gau.)(HC)

S. 158BD : Block assessment – Undisclosed income of any other person – To hand over the seized material to the AO of the said person to proceed u/s. 158BC-No substantial question of law .. [S. 158BC, 260A]

PCIT v. HDFC Bank Ltd. (2019) 174 DTR 92 (Bom.)(HC)

S. 147 : Reassessment – Change of opinion- Reassessment in the absence of any new material on record amounts to change of opinion- Reassessment proceedings to be quashed. [ S.148 , 154]

Pawan Sood v. ITO (2019) 175 DTR 217 /307 CTR 452 (All.)(HC)

S.147: Reassessment-With in four years- In the absence of assessee’s failure to disclose facts, reassessment was to be quashed. [ S.148 ]

Samson Maritime Ltd. v. Dy. CIT (2019) 175 DTR 25 / (2020) 314 CTR 887 (Bom.)(HC)

S. 147 : Reassessment – After the expiry of four years- Outstanding creditors for more than 10 years –Capital gains- Where the assessee had made the due disclosure, assessment could not be reopened after four years from the end of the Assessment year. [S. 41(1), 45, 115-O]

State Bank of India v. ACIT (2019) 175 DTR 335/103 taxmann.com 164/310 CTR 560/ 418 ITR 485 (Bom.)(HC)

S. 145 : Method of accounting–Accrual- Surcharge receivable from customers on delay in payment of electricity bill taxable on receipt basis and not accrual basis. [S. 4, 5]

PCIT v. Dakshin Haryana Bijli Vitran Nigam Ltd. (2019) 175 DTR 429/307 CTR 709 /(2020) 423 ITR 402(P&H)(HC)

S. 145 : Method of accounting–Accrual- Surcharge receivable from customers on delay in payment of electricity bill taxable on receipt basis and not accrual basis. [S. 4, 5]

PCIT v. Dakshin Haryana Bijli Vitran Nigam Ltd. (2019) 175 DTR 429/307 CTR 709 (P&H)(HC)