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.69C : Unexplained expenditure- Sale transaction- Purchaser confirmed the transaction – Addition is deleted . [ S. 132(4) ]

Chandra Pal v. ACIT ( 2024) 204 ITD 565 (Delhi) (Trib)

S. 54 : Capital gains – Profit on sale of property used for residence -Purchase of residential unit from builder – Flat received within three years from sale of property – Date of possession shall be construed as completion of construction . [ S. 45 ]

Anjali Bhadoo (Smt.) v. ITO ( 2024) 204 ITD 124 (Delhi) (Trib).

S. 48 : Capital gains –Mode of Computation -Cost of improvement- Failure to prove the expenditure incurred – Disallowance of expenditure is affirmed .[S. 45 ]

Arun Tulshidas Kharat v. DCIT ( 2024) 204 ITD 618 (Pune) (Trib)

S. 12AB: Procedure for fresh registration -Genuineness of activities – Failure to file documentary evidences to verify the activities in consonance with its objects – Rejection of application is held to be justified .[ S. 12A(1), R. 17A(2), Form No .10AB ]

Amrut Antimdham Charitable Trust v. CIT ( E ) ( 2024) 204 ITD 625 ( Ahd ) (Trib)

S. 279 : Offences and prosecutions-Sanction-Chief Commissioner-Tax deduction at source-Compounding application-Application was filed beyond twelve months-Rejection of application was set aside by High Court-SLP of Revenue is dismissed. [S. 200, 276B, 278B, 279(2), Art. 136]

ITO v. Footcandles Film (P.) Ltd. (2023) 295 Taxman 410/(2024) 460 ITR 671 (SC) Editorial : ITO v. Footcandles Film (P.) Ltd. (2023) 453 ITR 402 /146 taxmann.com 304 / 333 CTR 612(Bom)(HC)

S. 276CC : Offences and prosecutions-Failure to furnish return of income-Failure to pay self assessment tax-Criminal complaint is filed before the Magistrate Court-Petition filed before the High Court to quash the proceedings is dismissed. [S. 139(1), 139(4), 140A,,276C, 278E,Code of Criminal Procedure, 1973, S. 482]

D. M. Kathir Anand v. N.S. Phanidharan (2023) 154 taxmann.com 52 (Mad)(HC) Editorial : Notice is issued in SLP filed by the assessee, D.M. Kathir Anand v. N.S. Phanidharan (2023) 295 Taxman 234 (SC)

S. 276CC : Offences and prosecutions-Failure to furnish return of income-Failure to pay self assessment tax-Criminal complaint is filed before the Magistrate Court-Petition filed before the High Court to quash the proceedings is dismissed-Notice is issued in SLP filed by the assessee. [S. 139(1), 139(4), 140A,,276C, 278E,Code of Criminal Procedure, 1973, S. 482]

D.M. Kathir Anand v. N.S. Phanidharan (2023) 295 Taxman 234 (SC) Editorial: D.M. Kathir Anand v. N.S. Phanidharan (2023) (2023) 154 taxmann.com 52 (Mad)(HC)

S. 271D : Penalty-Takes or accepts any loan or deposit-Transfer of money through journal entries-No penalty is leviable-Appeal of Revenue dismissed as infructuous. [S. 269SS, Art. 136]

CIT (Central) v. C. Swapna (2023) 295 Taxman 4/ 335 CTR 1015 (SC) Editorial : Refer, CIT v. C.Swapna (AP)(HC), (ITA No. 123 of 2015 dt. 6-8-2015)

S. 271D : Penalty-Takes or accepts any loan or deposit-Acceptance of loans and deposits-Otherwise than by account payee cheque or account payee bank draft-Reasonable cause-Order of High Court deleting the penalty is affirmed. [S. 269SS, 273B]

CIT v. Sahara India Financial Corp. Ltd. (2023) 456 ITR 788 / 295 Taxman 2/(2024) 337 CTR 378 (SC) Editorial: Order of Delhi High Court is affirmed, CIT v. Sahara India Financial Corp. Ltd (2012) 26 taxmann.com 269 (Delhi)(HC)

S. 268A : Appeal-Instructions-Monetary limits-Applicable to revision order passed under section 263 of the Act-Appeal dismissed due to low tax effect. [S. 263, 260A]

PCIT v. Nalini Surrendrabhai Patel (2023) 458 ITR 540 / 295 Taxman 187 / 335 CTR 1088(Guj.)(HC)