March 2019 - taxcaselaw.com

Bombay H.C : The Hon ble Income Tax Appellate Tribunal was justified in reckoning the period for long term capital gains from the date of purchase of convertible debentures instead of actual date of allotment of shares on conversion from debentures

Avijit Das / March 27, 2019

High Court Of Bombay Kingfisher Capital Clo Ltd. vs. CIT (International Taxation) & Anr. Section 111, 49(2A), 47(xa) S. C. […]

Sec. 10(23C)

Bombay H.C : The Tribunal justified in confirming the order of the CIT(A) and directing the AO to allow exemption u/s. 10(23C)(iiiab) of the Act without appreciating the fact that the assessee is not wholly or substantially financed by the Govt. in view of explanation to sub section (1) of section 14 of the Comptroller and Auditor General (Duties, Powers and Conditions of Services) Act, 1971 as the total Govt. grant during the year is less that 75% of the total expenditure of the assessee

Avijit Das / March 26, 2019

High Court Of Bombay The Director Of Income Tax (Exemptions) vs. TATA Institute Of Social Science Section 10(23C)(iiiab) and Section

Sec. 142(2A)

S.C : The Tribunal came to the conclusion that prior to the insertion of the expression “suo motu” with effect from 1 April 2008 in Section 142(2C), the assessing officer had no jurisdiction to extend time for the submission of the report of an auditor appointed under sub section (2A)

Avijit Das / March 26, 2019

Supreme Court Of India CIT vs. Ram Kishan Dass Section 142(2A), 142(2C) Dr. Dhananjaya Y. Chandrachud & Hemant Gupta, JJ.

Section 55, Section 263

Delhi H.C : Whether the Tribunal is correct in law in holding that assumption of jurisdiction by the CIT, under Section 263 of the Act, was illegal?

Avijit Das / March 20, 2019

High Court Of Delhi CIT vs. Sunil Lamba Section 55(2)(a), 263 Asst. Year 1995-96 S. Muralidhar & Sanjeev Narula, JJ.

Section 24, Sec. 194-I, Sec. 36(1)(iii), Section 154

Delhi H.C : The Assessee had paid compensation amount “once and for all to repurchase the property” and this was “in fact a sale consideration and cannot be allowed as business expenditure.”

Avijit Das / March 20, 2019

High Court Of Delhi Gopal Das Estates & Housing Pvt. Ltd. & ORS. vs. CIT & Ors. Section 24, 36(1)(iii),

Section 15, Section 192

Madras H.C : Whether the Income Tax Law is a-political, a-religious in character, whether the character and attributes of the recipient of an income determines the taxability or the character of the receipt of income

Avijit Das / March 20, 2019

High Court Of Madras Union Of India (Rep. By The Secretary Ministry Of Finance) And Ors. vs. The Society Of

Section 132, Sec. 132A, Sec. 153A, Sec. 260A, Section 139, Section 147, Section 149, Section 153, Section 158

Kerala H.C : Where the due date for issue of notice under Section 143(2) had expired, as on the date of search, there could be no re-assessment made by virtue of the provisions under Section 153A; of such matters as available in the returns filed, which stands concluded by sheer efflux of time

Avijit Das / March 19, 2019

High Court Of Kerala CIT vs. K.P. Ummer, Prop. Star Rolling Mill Section 132, 132A, 139, 143(2), 147, 149, 153(1),

Section 92CA, Sec. 92CA(1)

Bombay H.C : The petition passed by the Transfer Pricing Officer (“TPO” for short) under Section 92CA(3)

Avijit Das / March 15, 2019

High Court Of Bombay Times Global Broadcasting Company Ltd. vs. Union Of India & Ors. Section 92CA(1) Asst. Year 2015-16

Sec. 260A, Section 35D

S.C : The respondent-assesse (Bank) was entitled to claim deduction under Section 35-D

Avijit Das / March 15, 2019

Supreme Court Of India Pr.CIT vs. Yes Bank Ltd. Section 260A, 35D Asst. Year 2007-2008 Abhay Manohar Sapre & Dinesh

Section 147, Sec. 260A, Section 148

Madras H.C : Whether the expenditure claimed by the Assessee is to be treated as Revenue Expenditure or Capital Expenditure

Avijit Das / March 14, 2019

High Court Of Madras Hanon Automotive Systems India Private Limited (Previously Known As M/S.Visteon Automotive Systems India Private Limited) Represented