- 2020 (2) TMI 1316 - SC ORDER
Royalty receipt - transfer of the right to use the software/computer programme in respect of the copyrights - consideration paid by the Indian customers end users to the assessee a foreign supplier - HELD THAT:- Appellant seeks permission to withdraw the Civil Appeals. Permission granted. The Civil Appeals are dismissed as withdrawn.
- 2020 (2) TMI 1155 - SC ORDER
Taxability of profits on sale of investments and securities - premium paid by the assessee on purchase of Govt. Securities as allowable as revenue expenditure on amortization - Relief to the assessee u/s 10 - profits on sale of investment and securities - whether no such benefit is allowable to the assessee due to the non-obstante nature of Section 44? disallowance of expenses under Section 14A - MAT provision u/s 115JB applicability - HELD THAT:- Delay condoned. Leave granted.
- 2020 (2) TMI 1154 - SC ORDER
Deemed dividend addition u/s 2(22)(e) - nature of the transaction for refund of the advance amounts received by the assessee from the vendee company of which, he was a director - CIT(A) was satisfied with the explanation and held that the amounts could not be brought to tax under Section 2(22)(e) - ITAT agreed with the view of the AO and set aside the CIT(A) orders - HELD THAT:- SLP dismissed.
- 2020 (2) TMI 1153 - SC ORDER
Eligibility to Interest u/s. 244A - self assessment tax refunded to the assessee - Self assessment tax as voluntarily paid by the assessee and not pursuant to a notice of demand issued u/s. 156 - HELD THAT:- Leave granted.
- 2020 (2) TMI 1152 - SC ORDER
Deduction u/s 80IC - substantial expansion - exemption at the same rate of 100% beyond the period of five years on the ground that the assessee has now carried out substantial expansion in its manufacturing unit - HELD THAT:- In the light of the judgment of this court in the case of Pr. CIT v. Aarham Softronic [2019 (2) TMI 1285 - SUPREME COURT] and connected matters, the special leave petition is dismissed.
- 2020 (2) TMI 971 - SC ORDER
Liability of directors of private company in liquidation u/s 179 - Recovery proceedings - argument is that instead of recovering the aforesaid amount in tune with the provisions of Section 179 the Department proceeded to put the immovable properties to auction - HELD THAT:- We issue notice in the petition. The principal tax due (in respect of the auction of these nine properties) being ₹ 1.33 crores, we direct that Shri Gulati’s client deposits the same within three weeks from today with the Registry of this Court which amount shall be invested in short term fixed deposit of a nationalised Bank. In the meanwhile, auction sales that have been made not to be confirmed.
- 2020 (2) TMI 970 - SC ORDER
Rectification u/s 254 - purpose of initiating penalty proceedings under Section 271(1)(c) - recover the penalty amount from one of the directors of the Assessee the business of which was closed - HELD THAT:- Special leave petition is dismissed. However, the question of law is left open.
- 2020 (2) TMI 831 - SC ORDER
Deduction u/s 54G with respect to the long term capital gain earned by the assessee on the sale of its godown situated in Bangalore, an urban area and which has been relocated in a non urban area - assessee sold an explosive godown/property at Bangalore and invested in a property located in a non urban area i.e in the outskirts of Sivakasi town - whether property sold at Bangalore was only a depot/godown/storage place and not an industrial undertaking - ITAT allowed the claim noted that the assessee shifted its godown storing hazardous products to a non urban area and that the activity carried on in the godown being storage and repacking, which is severable from the other activities of the industrial establishment and held that the assessee is entitled to claim exemption of capital gains as per the provisions of Section 54G - HELD THAT:- SLP dismissed.
- 2020 (2) TMI 739 - SC ORDER
Assessment u/s 153C - Delayed recording satisfaction note - HELD THAT:- No reason to interfere in the matter as there is considerable delay in filing the petition. The special leave petition is dismissed on the ground of delay, leaving all the questions of law open.
- 2020 (2) TMI 666 - SC ORDER
Reopening of assessment u/s 147 - disallowance u/s 40A(3) - payment was related to the transaction of sale of imported car by one Shri.Balan Pillai to one Sri. Arun Choksi and assessee is said to have acted as a middle man - addition u/s 68 - Unaccounted business receipts - Sale of a jeep - Unexplained cash found and seize - Review petition - HELD THAT:- No good ground to interfere with the impugned judgment passed by the High Court. The special leave petition is, accordingly, dismissed.
- 2020 (2) TMI 665 - SC ORDER
Penalty u/s 158 BFA(2) - addition of undisclosed income - HELD THAT:- In view of the fact that the tax effect in the matter is less than two crores, we see no reason to interfere. The special leave petition is dismissed. Pending applications, if any, shall also stand disposed of.
- 2020 (2) TMI 664 - SC ORDER
Disallowance made u/s. 37(1) on account of penal excise duty debited in P & L Account - whether ITAT was justified in holding that alleged excise demand notice are not penal in nature without appreciating the fact that the same are for penalty demand levied by the Excise Department raised on account of fake export permit? - HELD THAT:- Delay condoned. Leave granted.
- 2020 (2) TMI 597 - SC ORDER
Penalty u/s 271(1)(c) - furnishing inaccurate particulars of his income - exemption u/s 80-P claimed though it was excluded from the purview of Section 80-P of the Act w.e.f. 01.04.2007 - error in filing return - it was held by High Court that The proceedings under Section 271(1)(c) of the Act were rightly initiated against the assessee and the penalty was also rightly imposed on him - HELD THAT:- There are no grounds to interfere with the judgment and order impugned - SLP dismissed.
- 2020 (2) TMI 469 - SC ORDER
Carry forward and set off of unabsorbed depreciation of the amalgamating company - set off unabsorbed depreciation prior to A.Y. 1994-95 to 1998-99 beyond 8 years - HELD THAT:- SLP dismissed.
- 2020 (2) TMI 468 - SC ORDER
Exemption from payment of tax u/s 10B - 100% EOU - Scope of term 'Manufacture' - exemption denied on the ground that products exported were not produced or manufactured in the industrial unit of the assessee's 100 per cent Export Oriented Unit - HELD THAT:- Special leave petition is dismissed on the ground of low tax effect.
- 2020 (2) TMI 467 - SC ORDER
Penalty u/s 271(1)(c) - levied after the expiry of the limitation period u/s 275(1)(a) - Tribunal order served on the CIT (Judicial) - ITAT deleted penalty - HELD THAT:- SLP Dismissed.
- 2020 (2) TMI 273 - SC ORDER
Addition u/s 68 - expansion of scope of primary onus - unexplained credit entries /share capital - non discharge of initial onus of proof by assessee to establish by cogent and reliable evidence of the identity of the investor companies, the credit-worthiness of the investors, and genuineness of the transaction - HELD THAT:- The basic issue as framed in para 3.4 of the Judgment [2019 (3) TMI 323 - SUPREME COURT] was considered in the light of the facts on record. After noting the relevant decisions, the emerging principles were set out in para 11, in the light of which the facts were considered from para 12 onwards. Finally, the conclusions drawn by the Assessing Officer were found to be correct and it was found that the lower Appellate Authorities had erred in interfering with such conclusions. The Appeal was, therefore, allowed and the ....... + More
- 2020 (2) TMI 134 - SC ORDER
Chargeability of interest u/s 234B in the case of non-resident - HELD THAT:- Delay condoned. Leave granted.
- 2020 (2) TMI 99 - SC ORDER
Deduction u/s 80P(2)(a)(i) - whether activity of the appellant is that of finance business and cannot be termed as cooperative society? - assessee - society is registered under the provisions of the TNCS Act - definition of the word 'members' - HELD THAT:- Special leave petition and pending applications are dismissed as withdrawn due to low tax effect, leaving question(s) of law open.
- 2020 (2) TMI 97 - SC ORDER
Reopening of assessment u/s 147 - allocation of R&D expenses - as missed out in a question determined on scrutiny in a regular assessment, whether reopening on such left out angle is permissible or not, as far as this ground is concerned, in wake of the reasonings given in the records of reasoning; particularly emphasizing on SPS which never existed - HELD THAT:- SLP dismissed.