S. 271D : Penalty-Takes or accepts any loan or deposit-Loan from sister concerns-Payments to labour charges-Reasonable cause-Deletion of penalty is justified. [S. 269SS]
PCIT v. Akash Infra-com-Projects (P.) Ltd. (2022) 289 Taxman 300 / 216 DTR 393 / 328 CTR 819 (Orissa)(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. 263 : Commissioner-Revision of orders prejudicial to revenue-Accomodation entries-Information from Maharastra Sales tax Department-Order passed without making any inquiry or verification-Bogus purchase bills-Offered 2% of bogus purchases-Revision to assess the entire purchases as disallowable is held to be justified-Order of Tribunal set aside. [S. 69C, 260A]
PCIT v. Premlata Tekriwal (Mrs.) (2022) 289 Taxman 337 / 217 DTR 315 / 328 CTR 995 /(2023) 456 ITR 671 (Cal.)(HC) PCIT v. Binod Kunar Tekriwala (2022) 289 Taxman 337 / 217 DTR 315 / 328 CTR 995 //(2023) 456 ITR 671 (Cal.)(HC)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Depreciation-Scientific research-Two views possible-Assessing Officer following the order of jurisdictional High Court-Order cannot be held to be erroneous. [S. 35(2)(iv)]
CIT v. Integrated Education and Research Centre For Engineering and Management (2022) 289 Taxman 234 (Cal.)(HC)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Opportunity of being heard-Participated in subsequent proceedings-Writ petition against revision proceedings was held to be not maintainable. [S. 143(3), 253, Art. 226]
Anuradha Wadhwa v. PCIT (2022) 142 taxmann.com 185 (All.)(HC) Editorial : SLP of assessee dismissed, Anuradha Wadhwa v. PCIT (2022) 289 Taxman 4 (SC)S. 254(1) : Appellate Tribunal-Duties-Cash credits-Share application money-Short term unsecured loan-Failure to record reasons-Matter was remanded to Tribunal. [S. 68]
PCIT v. LDS City Projects (P.) Ltd. (2022) 289 Taxman 484 (Cal.)(HC)S. 254(1) : Appellate Tribunal-Powers-Additional grounds-Excise duty, subsidy-Shown as revenue receipt-Tribunal was justified in admitting additional grounds. [S. 4]
PCIT v. Crystal Crop Protection (P.) Ltd. (2022) 289 Taxman 289 (Delhi)(HC)S. 244A : Refunds-Interest on refunds-Excess advance tax and TDS-Delay in filing refund application was condoned-Period when application was pending adjudication before writ Court could not be attributed to department-Assessee was not entitle interest on refunded amount for said time period. [S. 119(2)(b), Art. 226]
Pala Marketing Co-operative Society Ltd. v. CIT (2022) 289 Taxman 271/(2023) 333 CTR 310 (Ker.)(HC)S. 240 : Refunds-Appeal-Depreciation-Amount deposited when the appeal was pending before ITAT-Failure to pass fresh assessment order officer-Directed to refund excess amount deposited after deduction tax liability on depreciation allowance. [S. 143(3), 153, Art. 226]
BMW India (P) Ltd. v. Dy. CIT (2022) 289 Taxman 39 /(2023)) 450 ITR 695 (P& H)(HC)S. 226 : Collection and recovery-Modes of recovery-Priority over debts-FDR to secure payment of debt-Secured creditor-Priority over Income Tax department who is an unsecured creditor. [Securities Contracts (Regulation) Act, 1956, 8, 9]
IFCI Factors Ltd. v. Bank of India (2022) 289 Taxman 654 /(2023) 455 ITR 705 (Delhi)(HC)S. 220 : Collection and recovery-Assessee deemed in default-Stay of demand-Directed to deposit 20 percent of demand sum-Recovery proceedings was stayed. [S. 220(6), Art. 226]
Urban Improvement Trust v. ACIT (2022) 142 taxmann.com 239 (Raj.)(HC) Editorial : SLP dismissed as withdrawn, Urban Improvement Trust v. ACIT (2022) 289 Taxman 2 (SC)