S. 14A : Disallowance of expenditure-Exempt income-No exempt income was received or receivable during relevant previous year-Disallowance cannot be made-Amendment to section 14A is prospective.[R.8D]
PCIT v. Delhi International Airport (P.) Ltd. (2023) 291 Taxman 490 (Delhi)(HC)
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. 10(37) : Capital gains-Agricultural land-Compensation received for acquisition land [Gujarat Town Planning and Urban Development Act, 1976 S. 107]
PCIT v. Urmi Nilesh Nagarsheth (2023) 291 Taxman 611 (Guj.)(HC)S. 4 : Charge of income-tax-Club-Principle of mutuality-Non-permanent members, non-life members, temporary or honorary members, they are not entitled to vote or offer themselves as candidates for any elective office, or have no right of disposal over the surplus-Principle of mutuality is applicable. [S. 2(24)]
Jubilee Hills International Centre v. ITO (2023) 457 ITR 70/291 Taxman 600/ 334 CTR 158 (Telangana) (HC)S. 69C : Unexplained expenditure -Unexplained investment – Unexplained money – Survey – Cash found less than the amount disclosed in the books of account – Addition cannot be made as an unexplained investment. [ S. 69, 69A,115BBE , 133A, 145 ]
Almech Enterprises v. ACIT ( Mum)( Trib) www.itatonline .orgS. 147: Reassessment – After the expiry of four years – Accommodation entries –Shell companies – Borrowed satisfaction – Information from investigation wing -Natural justice – Search – Survey-No failure to disclose material facts –Without the application of mind – Opportunity for cross-examination was not provided – Reassessment was quashed. ( Tribunal has passed 359 pages order dealing with all issues on reassessment proceedings .) [ S.131, 132.132(4), 133(6), 133A, 148, 153A, 153C ]
Evershine Recreation Private Limited v .DCIT ( Chd)( Trib) www.itatonline.orgBlack Money (Undisclosed Foreign Income and Assets ) and Imposition of Act , 2015 .
S. 43:Penalty for failure to furnish return of income an information or furnish inaugurate particulars of an asset ( Including financial interest in any entity ) outside India – Asset was not disclosed in Schedule FA – Disclosed in Schedule Part A-85 – Bonafide mistake – When there is no defiance of law or malafide or dishonest breach – Levy of penalty was not justified – Penalty was cancelled . [ S.10]
Ocean Diving Centre Ltd v. Dy. CIT ( Mum)( Trib) www.itatonline. OrgS. 144 : Best judgment assessment – One time settlement – Order passed in the years 2016 – High Court set aside the ex- parte order – Directed the Assessing Officer provide all the evidences and recorded reasons -Directed the Jurisdictional Assessing Officer to pass a reasoned order .[ S. 147 , 148,179, 264 , Art . 226 ]
Parina Laboratories Pvt Ltd v .ITO ( Bom)( HC) www.itatonline .org .S. 254(1): Appellate Tribunal- Powers- Ex parte order – Search – Alleged Accommodation entry provider – 32,000+ beneficiaries- Shell companies -Alleged Money Laundering – Direction issued by the Tribunal to AO to intimate/report to SEBI, ED, MCA and ROC regarding details of money laundering activities-Directed the Assessing officer to share information about all beneficiaries within 90 days . [S. 132, 150, Prevention of Money- Laundering Act, 2002; 11, Art. 226]
Naresh Manakchand Jain v. The Registrar, ITAT (Bom)(HC)Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act , 2002 .
S. 26E : Priority to secured creditors- Charge on mortgaged property – First charge in favour of Bank – Tax Authority had second charge – Purchase of property from private sale held by bank – Paid full consideration – Tax Authority had no right to disturb title , interest and possession – Charge created by the Tax Authority was quashed [ Value Added Tax Act 2003 , S. 9, 46 , 48 , Art . 226 ]
Right to Information Act , 2005 .
S. 3: Right to information – Non -Citizens can also get the information under Right to Information Act – There is no bar.. [ S. 4, 5 ,6,7,18 Art . 5, 21, 226 ]
A.S Rawat v. Dawa Tashi AIR 2023 DELHI 252