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Income Tax - High Court - Case Laws
Showing 1 to 20 of 73 Records
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2023 (5) TMI 1249
TP adjustment - adopting a percentage figure pegged at 15% for determination of profit attributable to the PE of the appellant/assessee in India - HELD THAT:- This issue covered by the decision of the Supreme Court rendered in a bunch of appeals, titled Director of Income Tax, New Delhi v. Travelport Inc. [ 2023 (5) TMI 227 - SUPREME COURT ] Accordingly, the said question does not arise for our consideration, as it stands covered by the aforementioned decision of the Supreme Court. Characterization of receipt - booking fee received by the appellant/assessee as taxable as business income, or royalty - HELD THAT:- The said question raised by the appellant/revenue is covered by a decision rendered in New Skies Satellite Bv Ors. [ 2016 (2) TMI 415 - DELHI HIGH COURT ] Accordingly, this question also does not arise for our considerat....... + More
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2023 (5) TMI 1235
Assessment u/s 153A - incriminating material unearthed during the course of search or requisition of documents or undisclosed income or property discovered in the course of search or not? - HELD THAT:- As decided in ABHISAR BUILDWELL P. LTD. [ 2023 (4) TMI 1056 - SUPREME COURT] no addition can be made in respect of completed/ unabated assessment in absence of any incriminating material. Also see KABUL CHAWLA [ 2015 (9) TMI 80 - DELHI HIGH COURT] and SAUMYA CONSTRUCTION PVT. LTD. [ 2016 (7) TMI 911 - GUJARAT HIGH COURT] - No substantial question of law.
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2023 (5) TMI 1228
Reopening of assessment u/s 147 - validity of order u/s 148A(d) - concerned ACIT dropped the proceedings, while pertaining to the assessment year 2015-16 opted to proceed further under Section 148A - consistency (or lack thereof) in the decision making - bogus sale entries - as argued two contradictory final outcomes pertaining to assessment years 2015-16 and 2016-17 clearly show not just non-application of mind but even extreme arbitrariness, more so, because the officer serving as the decision making authority of ACIT is the same officer - HELD THAT:- As significant to note that in order dated 28.07.2022, while dropping the proceedings, the ACIT concerned recorded his analysis of the documentary material; but in the subsequent order dated 31.07.2022, while deciding to proceed further u/s 148A the same ACIT recorded not even a whiff....... + More
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2023 (5) TMI 1227
Review petition - Reopening of assessment u/s 147 - petitioner/assessee was a non-filer - reasons to believe that the cash deposit had been made by the petitioner/assessee from undisclosed sources, which had escaped assessment - HELD THAT:- AO, it appears, received two pieces of information - First, that the said amount had been deposited in the aforementioned bank account, and second, that the petitioner/assessee had not filed a return. The second piece of information was not accurate - once the petitioner/assessee informed the AO that a return had been filed, it came to light that no scrutiny-assessment has taken place. The return, concededly, had been processed u/s 143(1) - AO, thus, was of the view that the matter required further enquiry and investigation, and therefore, proceeded further after disposing of the objections r....... + More
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2023 (5) TMI 1226
Reopening of assessment - legality and validity of notice u/s 148 and order u/s 148A(d) - unexplained loan transaction - HELD THAT:- It appears from record which AO has annexed to the notice u/s 148A(b) and order u/s 148A(d) that some of the documents which established the involvement of the petitioner in such type of transactions with the said Anil Kasera and there are names of many other persons who are involved in this type of transactions adopting same modus operandi. There is also finding of the assessing officer in the impugned order u/s 148A(d) that a sum representing in the form of entry or entries in the books of account (loan transaction) has escaped income in this case. All the aforesaid findings in the impugned order are based on material evidence which cannot be scrutinised by a writ court in exercise of its constitutio....... + More
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2023 (5) TMI 1225
Reopening of assessment - validity of order passed u/s 148A(d) - reopening on new set of facts - giving less than three days time to the assessee to respond - typographical errors in the order dated 4th May, 2023 [ 2023 (5) TMI 1115 - CALCUTTA HIGH COURT] HELD THAT:- In paragraph 7 of the said order, the date shall be mentioned 21.03.2022 instead of 27.03.2022 . In paragraph 8 of the said order, the date shall be mentioned 20.03.2023 instead of 23.02.2023 . In paragraph 14 at page 5 of the said order, the words fifteen days shall be mentioned instead of the words ten days . Let the said corrections be carried out and this order shall form part of the order dated 4th May, 2023. Urgent photostat certified copy of this order, if applied for, be furnished to the parties expeditiously upon compliance of all legal formalities.
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2023 (5) TMI 1224
Exemption u/s 11 - registration u/s 12AA was refused by holding that the assessee institution did not satisfy the registering authority with the genuineness of its activities and it was held that the assessee Trust had generated surplus (profit) out of their total receipts - ITAT grant registration to the assessee as applied by the assessee - HELD THAT:- As decided in M/s Queen s Educational Society [ 2015 (3) TMI 619 - SUPREME COURT ] as per 13th proviso to Section 10(23C) is of great importance in that assessing authorities must continuously monitor from assessment year to assessment year whether such institutions continue to apply their income and invest or deposit their funds in accordance with the law laid down. Further, it is of great importance that the activities of such institutions be looked at carefully. If they are not ge....... + More
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2023 (5) TMI 1118
Transfer u/s 127 - Power to transfer case under Faceless Assessment Scheme - assessments of the petitioners transferred to the Central Circle without sanction of the Central Board of Direct Taxes ( CBDT ) - HELD THAT:- Almost all the High Courts have held that transfer under Section 127 of the Act for the purpose of coordinated investigation is a sufficient reason for passing of such an administrative order. Consequently, it is settled law that a transfer order under Section 127 of the Act does not affect any fundamental or legal right of an assessee and the Courts ordinarily refrain from interfering with exercise of such power. Whether Central Circle jurisdiction is not confined to search cases only? - Central Charge is also conferred with jurisdiction over non-search case where coordinated investigation is required. The Circul....... + More
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2023 (5) TMI 1117
Reopening of assessment - order u/s 148A(d) - Appeal against appealable order - Single Bench had dismissed the writ petition on the ground that during the pendency of the writ petition, an order under Section 147 passed, which is an appealable order - HELD THAT:- It is true that the assessee had filed the writ petition only on 16th March, 2023. However, in the interregnum, the Assessing Officer has not passed the order u/s 147 - such an order was passed during the pendency of the writ petition presumably on the ground that no interim order was in force in the writ petition. The opportunity afforded at the first instance should be an effective opportunity because the power of reopening of an assessment is a power, which is to be sparingly used for adequate reasons. Therefore, we are convinced to hold that there has been violation o....... + More
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2023 (5) TMI 1116
Assessment order based on an earlier assessment order passed in an entity going by the name Caruna Bal Vikas [ CBV] - The contention being that AO in passing the impugned assessment order has extracted only a part of the reassessment order passed in the case of CBV - petitioner, says that the reassessment order as it stands today, is intact, although CBV has preferred an appeal qua the same - HELD THAT:- As the petitioner is entitled to seek a direction that while disposing of the appeal, respondent no. 2 should consider the entirety of the reassessment order passed in the matter concerning CBV, and the judgments that the petitioner has relied upon. One of the judgments as adverted to, in this context, has been passed in the matter of Director of Income Tax vs. Society for Development Alternatives [ 2012 (1) TMI 77 - DELHI HIGH CO....... + More
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2023 (5) TMI 1115
Reopening of assessment - validity of order passed u/s 148A(d) - reopening on new set of facts - giving less than three days time to the assessee to respond - as alleged show cause notice u/s 148A(b) issued and subsequently corrigendum was issued with a different allegation alleging that the assessee had entered into bogus transactions with a different person than the person who was named in show cause notice - HELD THAT:- The chain of events have been set out to show that there has been violation of principle of natural justice at different stages of the matter. The reopening of an assessment is a very serious matter and if such power is resorted to the assessee is entitled to an adequate opportunity to put forth their submissions. In the order passed u/s 148A(d) names of 12 companies have been mentioned which was never the alleg....... + More
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2023 (5) TMI 1114
Reopening of assessment - order u/s 148A(d) - Appeal against appealable order - HELD THAT:- In view of the admitted position that final assessment order under Section 147 has already passed which is not the subject mater of challenge in this writ petition and further that the order under Section 147 of the Act is an appealable order, we are not inclined to entertain this writ petition and accordingly this writ petition is dismissed. However, dismissal of this writ petition will have no impact if the appeal is filed by the petitioner against the aforesaid order under Section 147 of the Act, if so aggrieved. If the appeal is filed by the petitioner against the aforesaid order under Section 147 of the Act within 30 days from date, the same shall be considered on merits and the Appellate Authority concerned shall not raise the point of limitation.
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2023 (5) TMI 1113
On-money transaction - seized documents carry receipt of on-money in relation to the previous assessment years - ITAT deleted addition - HELD THAT:- Appellate authority as well as the Tribunal concurrently found that there was total dearth of evidence to come to conclusion that there was on-money transaction and that on such count it would not entitle the assessing officer to make addition in the income. The material in the nature of loose papers were not reliable, it was observed. More particularly, it was not related to the Assessment Year 2015-2016 and nothing was there to show that the on-money was received in respect of sale of units/flats recognised to be the sale of assessment year concerned. The findings of the appellate authority and Tribunal are based on ground of absence of evidence. The decision is based on appreciation of evidence. No substantial question of law.
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2023 (5) TMI 1012
Income escaping assessment - Obligation to file return of income - Assessee being a member of a scheduled tribe - Deriving income exclusively within a notified area - Entitlement for full exemption of income u/s 10(26) - whether not obliged to file any return of income u/s 139(1) or her income be charged to tax? - HELD THAT:- In the present case, a regular appeal is maintainable and the submission on behalf of the writ petitioner to the effect that such regular appeal will be confined only to the order passed u/s 147 of the Act and cannot be enlarged to look into the factual aspects going into the making of the order, cannot be countenanced. Indeed, when an appeal is of limited scope, the appellate provision will expressly provide therefor as in cases where appeals are limited to questions of law and facts are excluded. There is no exp....... + More
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2023 (5) TMI 1011
Addition u/s 41(1) - addition towards waiver of liability / expenditure claimed earlier - assessee has neither filed its return of income nor made an assessment and thus interest was not claimed as deduction - HELD THAT:- Undisputed fact of the case is, assessee stopped its operation in the year 2004 and it is under the control of Liquidator. Assessee has not filed its return from A.Y. 2003-04 onwards. As per mercantile system of accounting, assessee had been accounting for interest expenses every year in its books of accounts showing it as payable. One of the essential requirements of Section 41(1) of the Act is that there should be an allowance or deduction made in the assessment for any year in respect of loss or expenditure or trading liability. The AO has recorded a finding in para 3 of its order that the assessee has not filed....... + More
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2023 (5) TMI 1010
Hearing of the appeal out of turn - grievance of very high-pitched scrutiny assessment - Guidelines for priority/out of turn disposal of appeals by CsIT (AU) and CsIT (Appeals) - Local High Pitch Committee rejected the request - request for early hearing is made on the premise that the additional assessment u/s 143(3) and the demand u/s 156 is high-pitched and inasmuch as the demand is more than Rs. 1 Crore, appeal challenging the order u/s 246-A and which is pending before the Principal Commissioner of Income Tax, be heard out of turn - HELD THAT:- We are not required to delve deeper. We note that personal hearing as such was not sought, and nothing is brought to our notice to suggest that a personal hearing is provided either under any statutory rule or then any guideline issued by the CBDT. The material placed on record would s....... + More
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2023 (5) TMI 1009
Application filed seeking interim relief - order u/s 148A(d) was passed, according to the petitioner, as far back as on 31.03.2022 - revenue, says that the petitioner is guilty of delay and laches, and therefore, no intercession is called for. HELD THAT:- Before we proceed further, we would like to know from revenue as to whether or not the assessment order has been passed. He will return with instructions, in that behalf, on the next date of hearing. List the matter on 14.02.2023.
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2023 (5) TMI 968
Deduction u/s 11 - assessment of trust - ITAT held that receipt of fee in the nature of capitation fee by the Appellant Trust in excess of the permissible fee would rendered the Appellant Trust ineligible for deduction u/s 11 - whether whole of the income of the Appellant Trust was liable to be taxed at the maximum marginal rate contrary to Section 164(2)? - HELD THAT:- Appeal admitted on substantial question of law. Registry is directed to communicate a copy of this order to the Tribunal. This would enable the Tribunal to keep papers and proceedings relating to the present appeal available, to be produced when sought for by the Court. No case for grant of any interim relief is made out. The Interim Application is rejected.
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2023 (5) TMI 963
Validity of Reopening of assessment - assessment of the petitioner company was not done u/s 143(1) but u/s 143(3) - Deduction u/s 80IC - HELD THAT:- As the proceeding initiated against the petitioner company u/s 148 is found vitiated on two counts, viz., in this case, the petitioner (assessee) had made full and true disclosure of facts at the time of original assessment and also at the time of scrutiny proceeding u/s 143(2) and 143(3) - Assessee had no duty beyond that. It was for the assessing officer to draw correct inference from the primary facts. Therefore, if subsequent to assessment made u/s 143(3) AO draws an inference that assessment made by him was erroneous, such a change in opinion would not justify action for re-opening assessment. Sanction / Satisfaction of the proper authority u/s 151(1) - Income Tax Officer, Ward-I,....... + More
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2023 (5) TMI 918
Reopening of assessment u/s 147 - reasons to believe that income had escaped tax - subjective satisfaction - Bogus LTCG - Sale of shares of two companies was by the promoters, who was the family members - HELD THAT:- AO found that there was likelihood of the acts and instance of insider trading by the said assessee. The beneficiaries, it was noticed, were the promoters group consisting of family member. The assessee Smt. Paru M. Jaykrishna calculated the long term capital gain and on such transfer, claimed exemption u/s 10(38) - petitioner assessee, it was prima facie found to have earned income to the tune indicated which was chargeable to tax but the same was not shown in the return of income. When on the basis of the above operating facts, the AO harboured reasons to believe that the assessment of the petitioner was required to b....... + More
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