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. 80IA : Industrial undertakings – Infrastructure development- Where the assessee had sold many units, it was entitled to deduction under S.80-IA even if the Authority’s approval came later on. [S. 80IA(4)(iii)]
PCIT v. Kolte Patil Developers Ltd. (2019) 175 DTR 280 / 307 CTR 704 (Bom.)(HC)
S. 40(a)(ia) : Amounts not deductible – Deduction at source –Commission or brokerage – Payment to banks for processing of credit card transactions not liable to deduction u/s. 194H. [ S. 194C, 194H ]
PCIT v. Hotel Leela Venture Ltd. (2019) 174 DTR 247/307 CTR 466 /( 2020) 420 ITR 385 (Bom.)(HC)
S. 12AA : Procedure for registration –Trust or institution-Violation of S. 13 is not a ground for cancellation of registration. [S. 13]
PCIT v. Ashoka Education Foundation (2019) 174 DTR 377/262 Taxman 440 (Bom.)(HC)
S. 10A : Free trade zone – Re computation of a claim already made is permissible- Language of S.80A(5) does not restrict the correction or modification of claim before the AO. [S. 80A(5)]
PCIT v. Oracle (OFSS) BPO Services Ltd. (2019) 174 DTR 353 /307 CTR 97/102 taxmann.com 396 (Delhi)(HC)
S. 183 : Scheme-Composite declaration for several years—Condition laid down in scheme is fulfilled in respect of some of years—Entitled to benefit of scheme for those years—Self-assessment tax and advance tax is not adjustable against amounts due under scheme- Appeal will be entertained without raising the issue of limitation if the appeals are filed latest by April 30, 2019. [S. 246A]
Umesh D. Ganore v. PCIT (2019) 413 ITR 66/ 308 CTR 377/ 263 Taxman 727/177 DTR 185 (Bom.)(HC) Mangesh D. Ganore v. PCIT ( 2019) 413 ITR 66/ 308 CTR 377 /177 DTR 185(Bom.) (HC)
S. 234E : Fee-Default in furnishing the statements- The provisions of the Act imposing a fee for delayed filing of the statement of tax deducted at source are not ultra vires the provisions of the Constitution-Interpretation in favour of constitutionality of provision. [Art. 226]
Biswajit Das v. UOI (2019) 413 ITR 92 / 177 DTR 401/ 308 CTR 629/ 264 Taxman 41(Delhi) (HC)
S. 153A : Assessment – Search- Assessment not dependent on recovery of incriminating material during search in respect of pending assessment-Provision of S. 153A is a non obstacle clause having overriding effect over sections 139, 147, 151, 153 and 158 of the Act. [S. 147, 151, 153, 158]
CIT v. K. P. Ummer, Prop. Star Rolling Mill. (2019) 413 ITR 251 / 177 DTR 379 / 308 CTR 613(Ker.)(HC)
S. 145 : Method of accounting -Interest on hire purchase transactions—Bifurcation of principal and interest components -Change in accounting method in books of account does not alter position in taxation. [S. 4]
Sundaram Finance Ltd. v. ACIT (2019) 413 ITR 291/ 262 Taxman 477/ (2020) 188 DTR 265 (Mad.)(HC)
S. 142(2A) : Inquiry before assessment–Special audit–Genuine attempt by Assessing Officer to understand nature of Assessee’s business and method of accounting-Principles of natural justice not violated-Order for Special Audit is justified.
National Projects Construction Corporation Ltd. (NPCC) v. DCIT (2019) 413 ITR 130/ 179 DTR 53/ 310 CTR 367 / 265 Taxman 249 (Delhi) (HC)
S. 115AC : Capital gains-Bonds–Global Depository-Foreign currency-Transfer of Shares covered by scheme—Computation of capital gains to be made under provisions of scheme—Subsequent Amendment of provisions in Income-tax Act is not applicable. [S.47(x), 49(2A), 264, Foreign Currency Exchangeable Bonds Scheme, 2008]
Kingfisher Capital CLO Ltd. v. CIT (2019) 413 ITR 1/ 263 Taxman 198/ 308 CTR 537 / 177 DTR 225 (Bom.)(HC)/ Editorial : CIT (IT) v. Kingfisher Capital Clo Ltd. (2023)456 ITR 775 /294 Taxman 700 /334 CTR 9 (SC)