S. 194LBC : Deduction at source-Investment in securitization trust-Assessee in default-Excess Interest Spread by securitization trust group-Pass through certificates by originator-No liability to deduct TDS from the payment of Excess Interest Spread by securitization trust-Not an assessee in default. [S.115TCA, Explanation (d), 201(1)]
Vivriti Cibus 013 2017 v. ITO [2023] 157 taxmann.com 273/37 NYPTTJ 1641 / (2024) 227 TTJ 1 / 233 DTR 188 (Mum)(Trib)
Digest of case laws
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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. 194C : Deduction at source-Contractors-Freight charges to transporters on behalf of third party under tripartite agreement-Provision is not attracted. [S. 201(1), 201(IA) ]
ITO v. S.A. Singh & CO (2024) 227 TTJ 561 / 240 DTR 250 / 38 NYPTTJ 10 (Chd)(Trib)S. 153C : Assessment-Income of any other person-Search-Not mention of Document Identification No (DIN) in the assessment order-Subsequent separate communication of DIN is a superfluous exercise-Order invalid hence quashed-Circular No. 19 of 2019, dt. 14th Aug., 2019. [S.119, 292B ]
Dy.CIT v. Gajendra Singh(2023) 37 NYPTTJ 1729 / (2024) 227 TTJ 690 / 237 DTR 122 (Delhi)(Trib)S. 153C : Assessment-Income of any other person-Search-Cash found in the premises-Cash kept for safe custody-No evidence produced to substantiate the claim-Addition is affirmed.
Bhushan Ravindra Dandavate v. Dy.CIT(2023) 37 NYPTTJ 1660 / (2024) 227 TTJ 1005 / 234 DTR 125 (Pune)(Trib)S. 153A: Assessment-Search-No incriminating documents-Loose sheet-Not estimate actual expenditure-Addition is not valid-Protective addition-Addition is confirmed in the assessment of director-No protective addition can be made in the assessment of the Company.
Mewar Hospital (P) Ltd. v. ACIT (2023) 37 NYPTTJ 1438/ (2024) 227 TTJ 145 (Jodhpur)(Trib)S. 153A: Assessment-Search-Admitted as undisclosed income-Not retracted-Order of CIT(A) deleting the addition is set aside. [S. 68]
ACIT v. Greater Kailash Hospital (P) Ltd (2023) 157 taxmann.com 644 (2024) 227 TTJ 398 / 234 DTR 200 / (Indore)(Trib) ACIT v. Dr. Anil Bandi (2023) 157 taxmann.com 644 (2024) 227 TTJ 398 / 234 DTR 200 / (Indore)(Trib) ACIT v. Dr.Raddhika Bandi (2023) 157 taxmann.com 644 2024) 227 TTJ 398 / 234 DTR 200 (Indore)(Trib)S. 151 : Reassessment-Sanction for issue of notice-No approval is obtained before issue of reassessment notice-Re assessment is quashed as void ab-initio. [S. 147, 148]
Uttarakhand Purv Sainik Kalyan Nigam Ltd. v. ITO (2023) 37 NYPTTJ 1627 / (2024) 227 TTJ 252 / 233 DTR 340 (Dehradun) (Trib)S. 147: Reassessment-Within four years-Change of opinion-No new tangible material-Performance guarantee-Deposit-Addition was deleted on merits by CIT(A)-Additional legal ground on reassessment is admitted-Reassessment is quashed on the ground of change of opinion. [S. 37, 69, 148, 254(1), ITAT R 1963.R. 27]
ITO v. Bishambhar Dayal Agrawal (2024) 227 TTJ 38 (UO)/ 161 taxmann.com 1063 (Raipur) (Trib)S. 147: Reassessment-Change of jurisdiction-Notice is issued by the Assessing Officer who had jurisdiction-Later case was decentralized-No objection was raised before the Assessing Officer-Ground of jurisdiction is rejected [S. 120, 124, 127 148, 149, 151, 282, 282A, General Clauses Act, 1897, S. 27]
Creative World Telefilms Ltd. v. Dy.CIT (2024) 227 TTJ 377 / 239 DTR 290 / 38 NYPTTJ 22 (Mum)(Trib)S.147: Reassessment-After the expiry of four years-Audit objection-Re assessment is valid.[S. 148]
ITO v. K. Murugan (2023) 37 NYPTTJ 861 / (2024) 227 TTJ 121 / 233 DTR 72 (Chennai)(Trib)