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. 4 : Charge of income-tax-Horse racing-Commission income-Diversion of, by overriding title-Winning payments to public and betting tax payable to State government had an overriding title on gross receipts-Matter remanded to the AO for verification. [S. 148]

Mysore Race Club Ltd. v. ACIT (2022) 196 ITD 140 (Bang.)(Trib.)

S. 2(22)(e) : Deemed dividend-Loan to share holder-Share holding more than 10 percent of shares-Accumulated profits to be considered as on the date of advance of loan-Addition as deemed dividend is justified.

Sanjay Subhashchand Gupta v. ACIT (2022) 196 ITD 493 (Mum.) (Trib.)

S. 272A : Penalty-Delay in filing TDS return-Delay in filing quarterly statements-Not well acquainted with the procedure of e-filing of TDS return-Penalty was deleted. [S. 201, 272(2)(k), 273B]

UCO Bank v. JCIT (2022) 195 ITD 9 (Delhi)(Trib.)

S. 271G : Penalty-Documents-International transaction-Transfer pricing-Diamond industry-Practical difficulties in furnishing segment-wise details of AE segment and non-AE segment-Penalty not leviable. [S. 92D(3)]

DCIT v. Dharmanandan Diamonds (P) Ltd. (2022) 195 ITD 717 (Mum.)(Trib.)

S. 271(1)(c) : Penalty-Concealment-Mortgaged property-Auctioned by bank-Capital gains not shown-Guarantor-Difference view-Levy of penalty is not valid-Appeal admitted-Penalty cannot be deleted automatically. [S. 2(47) 45, 48, 260A]

Ajaybhai I Gogia v. ITO (2022) 195 ITD 301 (Rajkot)(Trib.)

S. 268A : Appeal-CBDT Circular-Tax effect from Rs 20 lakhs to Rs 50 lakhs-Enhancing limit-Applies appeals pending before ITAT.

ACIT v. Northern Motors (P.) Ltd. (2022) 195 ITD 207/ 216 TTJ 17(UO) (Amritsar)(Trib.) ACIT v. Acme Forgings (2022) 195 ITD 207/ 216 TTJ 17(UO) (Amritsar) (Trib.) ACIT v. Ashok Kumar Uppal (Dr.) (2022) 195 ITD 207 / 216 TTJ 17(UO) (Amritsar)(Trib.)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Book profit-New method of accounting-Forex gain or losses-No enquires made by the AO in the assessment proceedings-Revision is held to be valid. [S. 115JB]

TAQA Neyveli Power Company (P.) Ltd. v. PCIT (2022) 195 ITD 775 / 220 TTJ 1114 / (2023) 221 DTR 289 (Chennai)(Trib.)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Club entrance fee-Capital receipt-Revision is held to be not valid. [S. 4, 143(3)]

Sports Club of Gujarat Ltd. v. PCIT (2022) 195 ITD 373 (Ahd.) (Trib.)

S. 253 : Appellate Tribunal-Managing Director or Director-Appeal signed by General-Not having valid power of Attorney-Appeal was dismissed in limine [S. 140 (c) Rules, 45, 47]

Bangalore Electricity Supply Co. Ltd. v. DCIT (2022) 195 ITD 188 (Bang.)(Trib.)

S. 253 : Appellate Tribunal- – Private company — Recovery of tax — Name struck down from ROC under section 248 of Companies Act, 2013 Arrears of income-tax due — Appeal to Tribunal does not become infructuous – Name struck down from ROC under section 248 of Companies Act, 2013-Appeal is maintainable. [S. . 68, 179 ,248, 250, Companies Act , 2013 , S.248 , 250 ]]

Dwarka Portfolio (P.) Ltd. v. ACIT (2022) 195 ITD 491 / 99 ITR 620 (Delhi)(Trib.)/Shastri Buildcon P.Ltd v. ACIT (2022) 99 ITR 620 ( Delhi ) ( Trib) Vavasi Telegence P .Ltd v. ACIT (2022) 99 ITR 620 ( Delhi ) ( Trib)