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. 263 : Commissioner-Revision of orders prejudicial to revenue-Educational institutions (Approval)-New institute which was not included in list of institutes run by assessee-trust which was granted approval under section 10(23C)(vi)-Revision is held to be valid.[S. 10(23C)(vi),11, 12A]
Shri Shamjibhai Harjibhai Talavia Charitable Trust. v. PCIT (2024) 204 ITD 583/227 TTJ 489 (Rajkot) (Trib.)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Scientific research expenditure-Donation-Approval granted was expired-Claim of weighted deduction was incorrect-Order is erroneous. [S. 35(1)(ii)]
Joshi Technologies International Inc. v. CIT (IT & TP) (2024) 204 ITD 496 (Ahd)(Trib)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Employment of new workmen-There was proper verification and application of mind by Assessing Officer-Report in Form 10DA for claiming deductions under section 80JJAA was filed-Revision is not valid. [S.80JJAA, 143(3)]
GMM Pfaudler Ltd. v. PCIT (2024) 204 ITD 522 (Ahd.)(Trib.)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Not earned any exempt income-Additional depreciation-Allowed in earlier year-Manufacture-Extraction of minerals from beach sand involved change in non-living physical object/article into a new and distinct object/article having different name and use-Activities amounts to manufacture-Revision is not valid. [S. 14A, 32(1)(ii), 32AC]
Trimex Sands (P.) Ltd. v. PCIT (2024) 204 ITD 435 (Chennai) (Trib.)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Donations to NGOs out of accumulated funds-Not allowable as application of income-Deemed to be income of the assessee-Revision order is affirmed. [S. 11(2), 11(3), 12AA, ITAT R. 18(6)]
Sahachari Foundation. v. ITO (2024) 204 ITD 429 (Delhi) (Trib.)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Share application money-Issue of equity shares to 21 persons-Only four persons filed their balance sheet etc-Failure to make necessary and adequate enquiries into source of investment in shares-Order is erroneous-Revision is justified.[S. 68, 143(3)]
Lado Ceramic (P.) Ltd. v. PCIT (2024) 204 ITD 111 (Rajkot) (Trib.)
S. 254(2A) : Appellate Tribunal-Stay-Demand is stayed on condition that the assessee would not seek an adjournment-Multiple adjournments by assessee-Stay granted against recovery of outstanding demand was vacated and assessee was to be directed to pay outstanding taxes in three equal instalments. [S. 220, 254(1)]
NSE clearing Ltd. v. DCIT 204 ITD 174/229 TTJ 31 (Mum) (Trib)
S. 251 : Appeal-Commissioner (Appeals)-Powers-Matter remanded to CIT(A)-New source Cash credits-Cash deposits-No enhancement notice was issued-Cannot travel beyond scope of direction given by the Tribunal-Addition is deleted.[S. 68, 69]
Net Agri Co. (P.) Ltd. v. ITO (2024) 204 ITD 553 (Delhi) (Trib.)
S. 250 : Appeal-Commissioner (Appeals)-Procedure-Additional evidence-Capital gains-Matter remanded to the file of CIT(A) to decide a fresh after considering the additional evidence.[S. 45, 48, R. 46A]
FR. Sauter AG v. ITO (2024) 204 ITD 559 (Delhi)(Trib.)
S. 244A : Refunds-Interest on refunds-Adjustment of refund-Interest has to be calculated by first adjusting amount of refund already granted towards interest component and balance left, if any, shall be adjusted towards tax component-Provisions of section 244A(1A) would be applicable from 1-6-2016 till date of actual receipt of refund. [S. 244A(IA)]
Tata Sons (P.) Ltd. v. DCIT (2024) 204 ITD 802 (Mum.)(Trib.)