Income Declaration Scheme of 2016,
S. 195 : Power to remove difficulties-Not depositing the first instalment with in time-Board refusing to condonation of delay-Concession and excess indulgence would have demotivating effect on honest taxpayers making regular and prompt tax deposit-Dismissal of application is held to be not justified. [S. 184, ITA, S. 119,(2),(Art.14]
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 Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
S.10(1): Assessment – No summons are pending – Permitted to travel to UAE and Thailand, with a direction that he shall return to India on or before 6-4-2022, subject to furnishing of security as specified and subject to furnishing a full itinerary of his stay at UAE and Thailand, along with a functional phone number [ Art , 226 ]
S. 32: Depreciation –Good will- Order of Tribunal – Binding precedent – Decision of Tribunal is binding unless there is stay [ 144C , 254(1) , Art , 226 ]
Mylan Laboratories Ltd v. Addl .JCIT (2022)446 ITR 734 / 287 Taxman 40// 220 DTR 105/ 329 DTR 502 (Telangana)(HC)S. 144C : Reference to dispute resolution panel – Draft assessment order — Depreciation – Binding precedent – Decision of Supreme Court binding on all Courts and all authorities- Appellate Tribunal – Decision of Tribunal is binding on all authorities [ S. 32, 144C ,(8), 254(1) , Art , 226 ]
Mylan Laboratories Ltd. v. NFAC (2022)446 ITR 734 / 287 Taxman 40 // 220 DTR 105/ 329 DTR 502(Telangana) (HC)Interpretation-Binding precedent-Decision of Supreme Court binding on all Courts and all authorities-Appellate Tribunal-Decision of Tribunal is binding on all authorities. [S. 144C, 254(1), Art. 226]
Mylan Laboratories Ltd. v. NFAC (2022) 446 ITR 734 / 287 Taxman 40 /220 DTR 105/ 329 DTR 502 (Telangana)(HC)Interpretation of taxing statutes–Literal construction-Exemption provisions-Assessee Must Strictly Comply With Conditions. [[S. 10B(5), 10B(8), 72, 80, 139(1), 139(3), 139(5)]
PCIT v. Wipro Ltd. (2022) 446 ITR 1 / 216 DTR 1 / 327 CTR 381/ 288 Taxman 491 / 140 taxmann.com 223 (SC)S. 279 : Offences and prosecutions-Sanction-Chief Commissioner-Commissioner-Wilful attempt to evade tax-Application for compounding of offences-Limitation-Show-cause notice issued for rejection of compounding of offences on ground of Bar of limitation relying on Circular issued by Central Board of Direct Taxes-Circular cannot override statutory provision-Authority to consider application in accordance with law. [S. 276C, 277, 278B, 279(2), Art. 226]
G. P. Engineering Works Kachhwa v. UOI (2022) 446 ITR 563 // ( 2023) 332 CTR 104/ 224 DTR 257/ ( 2023) 332 CTR 104/ 224 DTR 257(All.) (HC)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Issue not referred in the notice of revision-Order of revision on such issue-Not valid. [S. 40A(2)(b)]
PCIT v. Universal Music India Pvt. Ltd. (2022)446 ITR 287 (Bom.)(HC)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Disallowance of expenditure-Exempt income-Formula not applicable to AY. 2002-03-Revision is held to be not valid. [S. 14A,R. 8D]
CIT v. Accel Limited (2022) 446 ITR 47 (Mad.)(HC)S. 260A : Appeal-High Court-Valuation of stock-Valuation adopted by Revenue valid-No question of law. [S. 145]
Goa Carbon Ltd. v. JCIT (2022) 446 ITR 590 (Bom.)(HC)