TA 233/2016. Dt. 16/6/16. B A Research. Guj. H C.
Interpretation of s. 80IB(8A) & R. 18D & DA
R K Patel
Interpretation of s. 80IB(8A) & R. 18D & DA
R K Patel
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#42
Discussion / Reopening- Audit- Instruction 16 Dt. 31/10/13
June 22, 2016, 10:34:26 PM
Sahjanand medical technologies. SCA 3399 / 2016. Dt. 15/6/16. (Guj)
Held, Reopening invalid if at instance of dictates of Audit party resorting to instruction no. 16 dt. 31/10/13 when Assessing officer differs from view of audit party.
R K Patel
Held, Reopening invalid if at instance of dictates of Audit party resorting to instruction no. 16 dt. 31/10/13 when Assessing officer differs from view of audit party.
R K Patel
#43
Discussion / Stamp duty expense
June 21, 2016, 03:21:30 PM
Guj. H C. TA 414 / 2007. Dt. 14/6/16. M/s Pruthvi Associates.
Held, Stamp duty paid for execution of contract is a revenue expenditure.
R K Patel
Held, Stamp duty paid for execution of contract is a revenue expenditure.
R K Patel
#44
Discussion / s. 115JB & s. 271(1)(c)
June 21, 2016, 03:19:24 PM
M/s. Bilakhia Holdings. TA 132 / 2016. Dt. 9/6/16. Gujarat high court
Held, Though direct credit of gift to balance sheet held to reduce book profits u/s 115JB, penalty u/s 271(1)(c) deleted.
R K Patel
Held, Though direct credit of gift to balance sheet held to reduce book profits u/s 115JB, penalty u/s 271(1)(c) deleted.
R K Patel
#45
Discussion / New claim for deleting suo motu disallowance in return
June 20, 2016, 07:50:24 AM
SCA 382 /2016. Dt. 13/6/16. UTI Bank. Gujarat high court.
Held, New claim to delete suo motu disallowance can be raised at tribunal to determine correct tax liability.
R K Patel
Held, New claim to delete suo motu disallowance can be raised at tribunal to determine correct tax liability.
R K Patel
#46
Discussion / S. 80 IB (10). Reopeninig. Inconsistency .
June 20, 2016, 07:46:31 AM
Gujarat high court, SCA 15718 / 2010. 9/6/16. Jalaram developers.
Held, If in initial year conditions satisfied for claim u/s 80IB(10) is scrutinised, inconsistent reopening for certain years not permissible.
R K Patel
Held, If in initial year conditions satisfied for claim u/s 80IB(10) is scrutinised, inconsistent reopening for certain years not permissible.
R K Patel
#47
Discussion / S. 80 IB(10). Valuation report base addition. Reopening.
June 20, 2016, 07:41:49 AM
Gujarat high court. SCA 15719 / 2010. Dt. 9/6/15.
Held, Reopening can't be done on DVO report basis when there is no claim for deduction u/s 80IB(10) in a particular assessmant year,
R K Patel.
Held, Reopening can't be done on DVO report basis when there is no claim for deduction u/s 80IB(10) in a particular assessmant year,
R K Patel.
#48
Discussion / s.203(3) amendment w.e.f. 1/10/14
February 19, 2016, 01:23:14 PM
Gujarat high court. SCA 1623 / 2015. Dt. 5/2/16. Tata teleservices and others
Held, s. 203(3) amended by Finance No. 2 Act w.e.f. 1/10/14 is NOT retrospective in nature.
R K Patel
Held, s. 203(3) amended by Finance No. 2 Act w.e.f. 1/10/14 is NOT retrospective in nature.
R K Patel
#49
Discussion / Reopening- Substitution of Valuation method.
January 19, 2016, 02:41:02 PM
Gujarat high court. SCA 14902 / 2015 . Zaveri and Co. Pvt. Ltd. Dt. 11/1/16
Held, Reopening for substitution of method of valuing Forex loss which is already processed in original assessment is not valid,
Held, Reopening for substitution of method of valuing Forex loss which is already processed in original assessment is not valid,
#50
Discussion / Interpretation of s. 132B
January 19, 2016, 02:38:16 PM
Nadim Dilipbhai Panjvani. SCA 13374 / 2015 Dt. 11/1/16.
Court interpreted s.132B , more particularly mandate embedded in proviso and scope of retention of seized asset.
R K Patel
Court interpreted s.132B , more particularly mandate embedded in proviso and scope of retention of seized asset.
R K Patel
#51
Discussion / Jurisdiction u/s 263. Writ at Notice stage.
December 24, 2015, 02:40:38 PM
Gujarat high court. SCA 3434 / 2015. JMC Projects (I) Ltd.
Held, Revision is not meant for better writing of an issue considered in assessment order upon which tax is aleady realised. Better footing and better application of legal principles by CIT does not accord jurisdiction u/s 263.
Notice quashed at the threshhold.
R. K. Patel
Held, Revision is not meant for better writing of an issue considered in assessment order upon which tax is aleady realised. Better footing and better application of legal principles by CIT does not accord jurisdiction u/s 263.
Notice quashed at the threshhold.
R. K. Patel
#52
Discussion / Reopening-Persistance by Audit
December 11, 2015, 12:17:54 AM
SCA 3275 / 2014. Dt. 20/10/15. Axis bank.
Gujarat high court held that if original case record shows that assessment is reopened only due to persistence of audit department, reopening is not maintainable.
R. K. Patel
Gujarat high court held that if original case record shows that assessment is reopened only due to persistence of audit department, reopening is not maintainable.
R. K. Patel
#53
Discussion / Reopening-No specific query
December 03, 2015, 10:19:05 PM
SCA 12129 / 2014. Dt. 2/11/15. Aavkar Infrastructure
Gujarat high court held,
If overall scrutiny is visible in original assessment proceedings(s.80IB(10)), it cannot be said there is no opinion on an issue from angle of a particular provision(s.45(2)) even within 4 years from the end of relevant year.
R.K.Patel
Gujarat high court held,
If overall scrutiny is visible in original assessment proceedings(s.80IB(10)), it cannot be said there is no opinion on an issue from angle of a particular provision(s.45(2)) even within 4 years from the end of relevant year.
R.K.Patel
#54
Discussion / Reopening-s.143(1),-Inflation of profits
November 27, 2015, 12:32:11 PM
SCA 12303 / 2014. Dt. 4/11/15. M/s.Aavkaar infrastructure company.
Gujarat high court held that A.O. has to record a finding in the reason for reopening that there is understatement of investment for inflation of profit for availing higher exemption/deduction and he cannot merely fall back on DVO report.
R K Patel
Gujarat high court held that A.O. has to record a finding in the reason for reopening that there is understatement of investment for inflation of profit for availing higher exemption/deduction and he cannot merely fall back on DVO report.
R K Patel
#55
Discussion / Reopening-s.143(1) & s. 147
November 20, 2015, 11:52:05 PM
Gujarat high court. SCA 12873 / 2014. Dt. 13/10/15. Varshaben Sanatbhai Patel
Held, Formation of belief based on material should be reflected from the reasons recorded to assume valid jurisdiction u/s 147 / 148.
Held, Formation of belief based on material should be reflected from the reasons recorded to assume valid jurisdiction u/s 147 / 148.
#56
Discussion / Interest yax
October 12, 2015, 10:07:07 AM
Tax appeal 207/2002. Dt. 1/9/15. Guj. H.C. State bank of india.
Held, interest tax collected from customer is not part of interest for levy of iinterest tax.
Principle of over riding title discussed at length.
R. K. Patel
Held, interest tax collected from customer is not part of interest for levy of iinterest tax.
Principle of over riding title discussed at length.
R. K. Patel
#57
Discussion / s.80IB(10), clause (d)
May 02, 2015, 09:03:55 AM
Supreme Court in SLP(C)22450 /2011 & others Dt. 30/4/15 Veena developers , Manan Corp. & others Dismissed.
Manan Corporation Gujarat H.C. decision final on issue of clause (d) appended to s.80IB(10) w.e.f. 1/4/05 is prospective and cannot be applied to deny deduction to approval granted residential projects of prior period.
R. K. Patel
Manan Corporation Gujarat H.C. decision final on issue of clause (d) appended to s.80IB(10) w.e.f. 1/4/05 is prospective and cannot be applied to deny deduction to approval granted residential projects of prior period.
R. K. Patel
#58
Discussion / s.263. Revision on basis of same material
January 11, 2015, 09:04:50 AM
Shreemukt jewellers. Tax appeal 661/2007. Dt. 12/12/14.
Gujarat high court held, Revision on basis of same material on record already appriciated by A.O. not permissible.
R K Patel
Gujarat high court held, Revision on basis of same material on record already appriciated by A.O. not permissible.
R K Patel
#59
Discussion / s.115JB- read with explanation
January 08, 2015, 01:47:02 PM
GUJ H. C. samay electronics. TA 599/2006. Dt. 11/12/14.
Interpretation of s.115Jb read with explanations
R K Patel
Interpretation of s.115Jb read with explanations
R K Patel
#60
Discussion / Reopening- Reappraisal of cash credit issue
January 08, 2015, 01:45:16 PM
Guj . H C > tax appeal1771 /05. Dt. 10/12/14.
Held, Reappraisal of cash credit issue by successor A.O. on same material beyond 4 yars by resorting to reopening not permissible.
R K Patel
Held, Reappraisal of cash credit issue by successor A.O. on same material beyond 4 yars by resorting to reopening not permissible.
R K Patel