S. 237 : Refunds-Reassessment-Failure to file returns within time-Notice of reassessment must be issued-Procedure laid down in Income-Tax Act must be followed by Income-Tax Authorities-Directed to examine the claim of refund within a period of three months. [S. 119, 147, 148, Art. 226]
R. Pannerselvam v. PCIT (2022) 442 ITR 376 (Mad.)(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. 220 : Collection and recovery-Assessee deemed in default-Adjustment of refund in excess of 20 Per Cent of tax in dispute-Held to be not valid-Directed to refund adjustment made in excess of 20 per cent-Stay granted till disposal of appeal by CIT(A). [S. 156, 220(6), 245, Art. 226]
Aditi Infrabuild and Services Ltd. v. ACIT (2022) 442 ITR 50 (Delhi) (HC)S. 192 : Deduction at source-Salary-Failure to deduct ta at source-Plea of bona fide belief based on circular issued by employer for its own use-No clarification by Income-Tax Authorities-Levy of interest is valid. [S. 10(5), 133A, 201(1), 201(1A), R. 2B]
State Bank of India v. ACIT (TDS) (2022) 442 ITR 363 (Karn.)(HC)S. 147 : Reassessment-With in four years-All relevant material in respect of employee costs reimbursed to overseas subsidiaries furnished in the course of original assessment proceedings-Change of opinion-Reassessment notice is not valid. [S. 92CA, 148, Art. 226]
Oracle Financial Services Software Ltd. v. Dy. CIT (2022) 286 Taxman 469 //(2023)452 ITR 272 (Bom.)(HC)S. 147 : Reassessment-After the expiry of four years-Order passed after pursuing details furnished-Reassessment notice is not valid. [S. 143(3), 148]
ITO v. Kayathwal Estate P. Ltd. (2022) 442 ITR 507 / 213 DTR 209 / 326 CTR 494 / 287 Taxman 385 (SC) Editorial : Decision in Kayathwal Estate P. Ltd v. ITO (2022) 442 ITR 498 (Guj.)(HC) is affirmed.S. 145 : Method of accounting-Business expenditure-Advertisement expenditure-Allowable as revenue expenditure-Method of accounting-v Proportionate completion method-Profits Accounted for chit discount on completed contract method-Revenue neutral-Method of accounting justified. [S. 37(1), Chit Funds Act, 1982, 21(1(b)]
Shriram Chits and Investments (P.) Ltd. v. ACIT (2013) 85 DTR 144/ 85 Taman 356 / (2022) 442 ITR 54 (Mad.)(HC)S. 144C : Reference to dispute resolution panel-Assessment Proceedings on remand-Procedure must be followed-Order is held to be not valid. [S. 92CA(4)]
Volex Interconnect (India) Pvt. Ltd. v. ACIT (2022) 442 ITR 425 (Mad.)(HC)S. 144B : Faceless Assessment-Violation of Principles of natural justice-Order set aside-Matter remanded. [S. 143(3), 156, Art, 226]
Pradip Kumar Saha v. UOI (2022) 442 ITR 231 / 210 DTR 190 / 325 CTR 110 (Cal.)(HC)S. 144B : Faceless Assessment-Final order passed without issuing draft assessment order-Matter remanded. [S. 144B(1)(xvib), 156, Art. 226]
Multiplier Brand Solutions Pvt. Ltd. v. ITO (2022) 442 ITR 202 (Bom.)(HC).Editorial: Add. CIT v. Multiplier Brand Solutions Pvt. Ltd. (2023)453 ITR 233 (SC) , order of High Court is modified and matter remanded to the Assessing Officer .S. 144B : Faceless Assessment-Final order passed without issuing draft assessment order-Assessment order and subsequent demand notice is set aside. [S. 143(3), 144B(vii), 156, Art. 226]
Golden Tobacco Ltd. v. NFACE (2022) 442 ITR 204 / 284 Taxman 292 (Bom.)(HC)