S. 271B : Penalty-Failure to get accounts audited-Co-Operative Society-Receipt of Grant-In-Aid from Government of Maharashtra at predetermined rates on which tax deducted at source-Accounts audited under Co-Operative Societies Act-If amount of grant-in-aid excluded, turnover below limit specified-Reasonable cause for not getting accounts audited-Levy of penalty is not valid. [S. 44AB, 273B]
Raje Dudh Utpadak Sahakari Sanstha Ltd. v. ITO (2022) 93 ITR 67 (SN) (Pune)(Trib.) Shriram Dudh Vyvasayaik Sahakari Sanstha Ltd. v. ITO (2022) 93 ITR 67 (SN) (Pune)(Trib.) Shriram Sahakari Dudh Utpadak Shstha Ltd. v. ITO (2022) 93 ITR 67 (SN) (Pune)(Trib.) Dhaval Singh mohite Patil Sahakari Dudh Utpadak Sanstha Ltd. v. ITO (2022) 93 ITR 67 (SN) (Pune)(Trib.) Shri Siddhanath Dudh Utpadak Sahakari Sanstha Ltd. v. ITO (2022) 93 ITR 67 (SN) (Pune)(Trib.) Sonar Siddha Sahakari Dudh Utpadak Sanstha Ltd. v. ITO (2022) 93 ITR 67 (SN) (Pune)(Trib.)
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. 271(1)(c) : Penalty-Concealment-Co-Operative Society-Interest income from Nationalised Banks incorporated in financial statements-Shown as income from other sources-Levy of penalty is not valid. [S. 80P(2)(a)(i)]
Karamsad Nagrik Co-Op. Credit Society Ltd. v. Dy. CIT (2022) 93 ITR 17 (SN) (Ahd.)(Trib.)S. 271(1)(c) : Penalty-Concealment-Co-Operative Bank Disallowance of claim-Levy of penalty is not valid. [S. 36(1)(viia)]
ITO v. Karad Janata Sahakari Bank Ltd. (2022) 93 ITR 79 (SN) (Pune)(Trib.)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Purchases from Special Economic Zone unit claimed as deemed import-Value added tax input on deemed import as expense in Profit and Loss Account-Order passed by Assessing Officer erroneous-Revision valid. [S. 143(3)]
Starline Organics Pvt. Ltd. v. PCIT (2022) 93 ITR 22 (SN) (Ahd.) (Trib.)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Purchases from Special Economic Zone unit claimed as deemed import-Value added tax input on deemed import as expense in Profit and Loss Account-Order passed by Assessing Officer erroneous-Revision valid. [S. 143(3)]
Starline Organics Pvt. Ltd. v. PCIT (2022) 93 ITR 22 (SN) (Ahd.)(Trib.)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Failure to examine expenditure incurred with reference to dividend income-Revision is held to be valid. [S. 14A, 8D(2)(iii)]
Chettinad Lignite Transport Services Pvt. Ltd. v. PCIT (2022) 93 ITR 74 (SN) (Chennnai)(Trib.)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Share premium-Report of expert-PCIT is not entitled to reject valuation report in absence of report from another expert. [S. 56(2)(vii)]
Ashdan Developers Pvt. Ltd. v. PCIT (2022) 93 ITR 6 (SN) (Pune) (Trib.)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Capital gains-Capital asset-Relinquishment of right in asset-Compensation-Right to sue-Compensation correctly assessed as capital gains-Revision to assess the compensation as income from other sources is held to be not valid. [S. 2(14), 45, 56]
Anil Rambhai Mevad v. PCIT (2022) 93 ITR 8 (SN)/)/ 215 TTJ 428/ 209 DTR 298 (Ahd.)(Trib.) Deepakkumar Rambhai Mevada v. PCIT (2022) 93 ITR 8 (SN)/)/ 215 TTJ 428/ 209 DTR 298 (Ahd.)(Trib.)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Transfer pricing adjustment-Failure by Assessing Officer to make assessment in conformity with order of Transfer Pricing Officer-Revision is valid. [S. 92CA]
Actia (India) Pvt. Ltd. v. PCIT (2022) 93 ITR 65 (SN) (Delhi)(Trib.)S. 234E : Fee-Default in furnishing the statements-Statements of tax deducted at source-Levy of fees for Assessment Years 2013-14, 2014-15 and 2015-16 not justified-CIT (A) erred in not condoning the delay. [S. 200A, 250]
Elite India Constructions P. Ltd. v. CIT (Appeals) (2022) 93 ITR 20 (SN) (Bang.)(Trib.) Sameer Granites Pvt. Ltd. v. ACIT (CPC) (TDS) (2022) 93 ITR 33 (SN) (Bang.)(Trib.)