Judgements Uploaded By Users In Category: Income-Tax Act
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The Mumbai Tribunal has held that S. 263 : Commissioner - Revision of orders prejudicial to revenue - Special category States - Manufacture of essential oils and perfumery -Assessment without incriminating material – Search assessment – Deduction u/s 80IC – Revisionary power cannot be exercised in respect of completed/unabated assessments in absence of incriminating material – Revision order quashed. [S. 80IC,… Read More ...
The KARNATAKA HIGH COURT has held that S. 254(1) : Appellate Tribunal –Duties - Alleged AI-generated order – Bias apprehension – Transfer of case – Once the ITAT President reassigned the matter to another Bench, writ petition seeking deferment of hearing became infructuous. [Art. 226, 227] The assessee filed a writ petition before the Karnataka High Court seeking a direction to defer… Read More ...
The Bombay High Court has held that S. 276C : Offences and prosecutions - Wilful attempt to evade tax- Failure to pay self-assessment tax along with return-Mere delay in payment of self-assessment tax does not amount to wilful attempt to evade tax-Continuation of prosecution would be abuse of process of law-Complaint quashed and dismissed. [S. 139, 140A,143(1), 276C(1), 276(2) ,276B, 278E, 279(1),Art.… Read More ...
The Bombay High Court has held that S. 143(3) : Assessment-Principles of natural justice-Assessment order passed without considering reply to notice u/s 133(6) and by relying on non-existent case law-Artificial Intelligence (AI)-Quasi-judicial authorities cannot rely blindly on results generated by AI tools without independent verification- Breach of natural justice- Alternative remedy-Appeal was filed to avoid limitation-Assessment quashed and matter remanded [S. 68,… Read More ...
The Mumbai Tribunal has held that S. 45 : Capital gains – Alleged NOC receipts – Loose sheets - Dumb documents-Statement in the Course of search – Statement retracted - No corroboration – Additions deleted. [S.132, 132(4), 132(4A)] During search, diaries maintained by an employee were seized containing notings with initials “KB”, which the Assessing Officer treated as unaccounted cash receipts… Read More ...
The Mumbai Tribunal has held that S. 69A : Unexplained money – Rough diary notings – Internal circulation of funds –Statement in the Course of search – Statement retracted - Addition unsustainable.[S. 132, 132(4), 132(4A) ] The Assessing Officer treated a diary entry of ₹ 2.50 lakh as unexplained money under section 69A. The Tribunal found that the entry represented internal… Read More ...
The Mumbai Tribunal has held that S. 151A : Face less assessment scheme - Reassessment – Faceless jurisdiction – Manual DIN – Reassessment held void ab initio – Jurisdictional AO issued notice instead of Faceless AO – Assessment order manually issued without computer-generated DIN – Proceedings invalid. S. 147, 148 151, CBDT Circular No. 19/2019] Pursuant to a search on the… Read More ...
The Mumbai Tribunal has held that S. 80G : Donation-Provisional registration-Delay in filing Form No. 10AB-Technical glitch-Tribunal and CIT(E) empowered to condone the delay-Mere enabling clause to apply funds outside India cannot be ground to reject registration-Delay condoned-Matter restored to CIT(E) for fresh consideration on merits. [S. 11(1)(c), 12A(1)(ac)(iii), 80G(5)(iii), Form No. 10AB] The assessee, Mohanji Bharat Welfare Foundation, a charitable… Read More ...
The Bombay High Court has held that S. 254(2) : Appellate Tribunal-Rectification of mistake apparent from the record-Subsequent decision of Supreme Court-Employee’s contributions (EPF/ESI) -Tribunal cannot invoke section 254(2) on basis of subsequent change in law-Order of rectification quashed. [S. 36(1)(va), 139(1), 143(1), 260A, Art. 226, 227] The assessee had deposited the employees’ share of provident fund and ESI before the due… Read More ...
The Mumbai Tribunal has held that Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 S. 43 : Penalty for failure to furnish return of income or furnish inaccurate particulars of an asset ( Including financial interest in any entity ) outside India- Non-disclosure of foreign assets – Use of word “may” in section 43 is directory… Read More ...