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. 201 : Deduction at source – Failure to deduct or pay – Late deposit of TDS payment – Payment of TDS to bank would relate to date of presentation of cheque to banker- Mistake of banker the assessee is not liable to pay the interest . [ S . 194A, 201(1), 201(IA) ]
Natma Securities Ltd v.ACIT (2022) 145 taxmann.com 291 (Delhi )( Trib)
S. 199 : Deduction at source – Credit for tax deducted -Credit for tax deducted at source has to be given even though the amount deducted is not reflected in Form No. 26AS of the payee . [ S. 22 , 143(3), 203 ]
Liladevi Dokania v. ITO ( 2022) BCAJ -January -P. 32 ( Surat )( Trib)
. 195 :Deduction at source – Non-resident – Deposit of TDS under wrong challan – Authorities directed to correct the demand due to deposit of TDS by wrong challan .
World Quant Research ( India) Pvt Ltd v .CIT , NFAC ( 2023 ) BCAJ – February -P.38( Mum)( Trib)
S. 194H : Deduction at source – Commission or brokerage – Exhibition of films – Survey – Theatre owner is not liable to deduct tax at source on convenience fee charged by BookMyshow to the end customer and retained by it- Matter remanded . [ S. 133A, 201(IA)) ]
Srinivas Rudrappa v.ITO ( 2022) BCAJ- February – P. 37 ( Bang)( Trib)
S. 143(3): Assessment – Civil construction -Stock in trade – Amount surrendered in the course of survey – Assessable as business income – Addition cannot be made as income from undisclosed income under section 69 of the Act . [ S. 69, 133A ]
Kulkarni & Sahu Buildcon Pvt Ltd v. DCIT (2023) BCAJ – February -P.39 ( Rajkot )( Trib)
S. 56 : Income from other sources -Gift from relative – There need not be any occasion for receipt of gift from relative [ S.56(2)(v), 68 ]
ITO v. Dr. Satish Natwarlal Shah ( 2023) BCAJ – January -P. 33( Ahd)( Trib)
S. 45 : Capital gains -Transfer – Developer –Joint development agreement – Part performance – Only licence was granted to the developer- Not liable to be assessed as capital gains [S. 2(47)(v), Transfer of Property Act , S.53A ]
DCIT v. Sri Sai Lakshmi Industries Pvt Ltd ( 2023) The Chamber’s Journal – January P. 90( Bang )( Trib )
S. 45 : Capital gains -Transfer – Family arrangement – Sale /Transfer of shares under family agreement as per the directions of CLB (Company law Board ) – Not chargeable to capital gains tax [ S. 2(47) ]
Sujan Azad Parikh v. Dy .CIT (2022) 145 taxmann.com 167(2023 198 ITD 83 ( Mum)( Trib)
S. 23 : Income from house property – Annual value – Flat was not habitable – Annual value cannot be added as income of the assessee .[ S. 22, 23(1)(a) ]
Dy.CIT v. Anju Saraf (2022) 142 taxmann.com 508 (Nagpur )( Trib.)
S. 10(34) :Dividend – Domestic companies – Tax on distribution of profits – Dividend received during FY. 2019 -20 relevant to AY. 2020- 21 cannot be taxed . [S. 115O, 154 ]
Manmohan Textiles Ltd v. NFAC ( 2023) BCAJ -January – P. 32( Mum)( Trib)