S. 254(2) : Appellate Tribunal – Rectification of mistake apparent from the record – PF/ESI contribution – Subsequent decision of Supreme Court – Cannot be ground for rectification – Tribunal erred in recalling its order on the basis of subsequent ruling – Writ petition allowed. [S. 254(1), 143(1)(a), 36(1)(va), 43B, 260A, Art. 226, CPC O.47 R.1]
Vaibhav Maruti Dombale v. Assistant Registrar, ITAT(2025)481 ITR 103/ 178 taxmann.com 447 / 347 CTR 42 / 254 DTR 279 (Bom)(HC) www.itatonline.org
Digest of case laws
Online digest of latest case laws
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
Click here to download the pdf versions of the Digest of case laws S. 73 : Loss in share trading – Speculation loss – Set-off – Not allowable against profit from F&O transactions – Arbitrage operations – Explanation to S.73 operates independently of S.43(5) – Speculative loss cannot be adjusted against F&O business income.[ S.28(i) , 43(5)]
DCIT v. JM Financial Services Ltd ( TM ) ( Mum)( Trib) www.itatonline.orgS. 143(3): Assessment – Appeal pending before CIT(A)- Writ – Alternate remedy – Writ petition not maintainable- Extraordinary jurisdiction – Not to be invoked when alternate statutory remedy is available- The Court directed CIT(A) to dispose of the appeals (both against assessment and penalty orders) within eight weeks. [ S. 144B 250 , Art. 226 ]
Anil Ramchandran Pillai v. NFAC (Bom)(HC) www.itatonline.orgCentral Goods and Service tax Act , 2017 .
S. 73 : Demands and recovery – Determination of tax – Joint Development Agreement – Real estate developer – Time of supply of service – Time of supply under Joint development agreement is governed by Notification 04/2018, i.e., on conveyance/allotment, not agreement date,-Any deposit obtained without authority of law is refundable with interest, regardless of whether made under protest or otherwise. [ S. 13(2(b), 74 , Art . 226 ]
Central Goods and Services Tax Act, 2017 .
S. 54 : Refund of tax – Input tax credit – Inverted duty structure – Notification No. 09/2022 dated 13-07-2022 applicable prospectively – Refund cannot be denied for period up to 18-07-2022 – Circular restricting refund claims only if filed before 18-07-2022 held arbitrary and violative of Article 14 – Refund application filed within limitation period of two years cannot be rejected. [ S. 5(3), Art . 14 , 226 ]
Shree Arihant Oil and General Mills v. UOI (Raj)(HC) www.itatonline .orgS. 151 : Reassessment – Sanction for issue of notice – Notice issued under section 148 with sanction of PCIT instead of JCIT – Survey – Invalid sanction – Assessment held to be null and void. [ S. 133A , 143(3),151(2), 147 , 148]
Sunidhi Securities & Finance Limited v. DCIT, (Mum)(Trib) www.itatonline.orgS. 56 : Income from other sources – Immovable property – Purchase consideration – DVO valuation – Difference of 7% within 10% safe harbour – Amendment by Finance Act, 2020 curative and retrospective – Addition deleted.[ S. 50C , 56(2)(x)(b)(B) ]
Ramesh Dnyandeo Dhuri v. ITO (SMC)(Mum)(Trib), www.itatonline .orgS. 153A: Assessment – Search – Abated assessment – No incriminating material was found – Alleged bogus purchases –Addition was deleted . [ S. 69C , 132 ]
Dy.CIT v .Hard castle Restaurant Pvt Ltd ( Mum)( Trib) www.itatonline .org .S. 64 : Clubbing of income – Minor child – Capital gains – Sale of inherited property – Minor daughter’s share deposited in nationalized bank under Court order – Not includible in assessee’s hands.[S. 45, 54F , Hindu Minority and Guardianship Act, 1956, S.8(2) ]
Pradeep Jeyavelu v. ITO (SMC) (Chennai) ( Trib) (UR) www.itatonline .org .S. 54F : Capital gains- Investment in a residential house – Advance received cannot be assessed as capital gains – The AO was directed to recompute the capital gains on actual consideration and also directed to allow the exemption under section. 54F . [S. 45 ]
Natesan Ekambaram v. DCIT (2025) 238 TTJ 689 / 214 ITD 615 (Chennai) ( Trib) www.itatonline .org .