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Income Tax - High Court - Case Laws
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- 2020 (1) TMI 1001
Refund claim u/s 119 (2) (b) - condonation of delay for issue of belated refund - compensation received by the assessee in pursuance of land acquisition proceedings claimed exempt under Section 10 (37) - benefit of exemption to “agricultural land” denied - HELD THAT:- In the present case, we are concerned with Sub Clause (iii) (b) (II) which provides that agricultural land is exempted from the purview of “capital gains” unless the area is within the distance, measured aerially, not being more than 6 Kms from the local limits of any municipality or cantonment board referred to in item (a) (land situated in in any area which is comprised within the jurisdiction of a municipality whether known as a municipality, municipal corporation, notified area committee, town area committee, town committee, or by any other name o....... + More
- 2020 (1) TMI 998
Settlement Application u/s 245C(1) - assessee disclosed additional income during the course of settlement - fresh and substantial disclosure or not - it is far greater than the initial disclosure - Commission accepted the disclosures made by respondent assessee after considering the detailed item-wise explanation submitted by respondent assessee - whether the order of Commission is contrary to any of the provisions of the Act or not and if so, apart from grounds of bias, fraud and malice which of course constitute a separate and independent category, has it prejudiced the petitioner or not? - HELD THAT:- Merely because the respondent assessee has disclosed additional income of ₹ 12 Crore during the course of settlement, it cannot be said that Commission has not followed the procedure prescribed under the Act of 1961. The d....... + More
- 2020 (1) TMI 971
Application for recall of an ex-parte order - Dismissal of appeal for non-prosecution - compounding the same by refusing to entertain the application for recall of the order - ITAT has dismissed the application for recall of its order solely on the ground of limitation, observing that it has no power to condone the delay - HELD THAT:- Tribunal lost sight of the main provision as enshrined in Rule 24 of the ITAT Rules, which required the ITAT to dispose of the appeal on merits after hearing the respondent. Since it did not proceed to do so, and specifically gave an option to seek recall of its order, we find no justification for dismissing the application for recall on the ground of limitation. Rule 24 of the ITAT Rules, as noted above, enjoined the ITAT to decide the appeal on merits. The appeal filed in 2014, had ripened for final dispos....... + More
- 2020 (1) TMI 970
Extension of time for furnishing online Income Tax return in the Bihar which was expired on 31-03-2018 for the Financial Year-2016-17 - private cause OR public cause - HELD THAT:- The petition in its present form is not maintainable, apart from it being deficient of particular materials. However, Tax Payers of Bihar faces ‘unnatural inconvenience’ in not filing income-tax returns within the stipulated period remains unexplained. The petition appears to be espousing private cause instead of public cause.
- 2020 (1) TMI 926
Addition of Sub License Fee Expenses - allowable revenue expenditure - Tribunal upholding the order of the CIT(A) for deleting addition - HELD THAT:- Tribunal has relied upon the decision of the Delhi High Court in the case of CIT vs. J K Synthetic Ltd [2008 (12) TMI 21 - DELHI HIGH COURT] wherein the Delhi High Court has taken the view that no under the agreement the assessee has obtained a technical assistance and acquired some technical information which was a knowhow related to process of manufacture, then it is not a transfer of the ownership of the knowhow and to be treated as revenue expenditure. We are in complete agreement with the finding recorded by the Tribunal as regards the proposed question No.2[C] is concerned.
- 2020 (1) TMI 925
Exemption u/s. 10AA - total income to be computed as per the provisions of section 29 to 43D after allowing all eligible deductions whether or claimed suo-moto by the assessee or not? - ITAT is right in upholding the decision of Ld. CIT(A) in deleting the disallowance made by the Assessing Officer - HELD THAT:- Tribunal concurred with the finding recorded by the CIT (A) that the assessee firm had not charged any interest and remuneration in accordance with the partnership deed and, in such circumstances, the assessee firm cannot be compelled to charge interest or remuneration, more particularly, when the partnership deed does not prescribe for the same. The Tribunal concurred with the finding recorded by the CIT (A) that the disallowance made by the AO on account of non provision of interest and remuneration could not have been disallowed....... + More
- 2020 (1) TMI 924
Exemption u/s 54F - assessee’s claim was rejected as the AO noting that the land on which the assessee had claimed to build the residential house was in the name of his mother - Tribunal denied benefit u/s 54F as like Commissioner (Appeals) and held that the benefit u/s 54F is only available to an assessee if the newly purchased / constructed residential house is owned / held in the name of the assessee - HELD THAT:- Commissioner (Appeals) followed the decision of Nagpur Bench of this Court in the case of Prakash vs. Income-Tax Officer and others [2008 (9) TMI 234 - BOMBAY HIGH COURT] wherein the Assessee purchased the property in the name of adopted son and not on his own name, he was denied the benefit. While laying down this proposition the Court took a review of the law laid down by other High Courts and followed the decision of....... + More
- 2020 (1) TMI 923
Reopening of assessment u/s 147 - change of opinion - Section 43A applicability - HELD THAT:- In the reasons there is reference to the Section 43A of the Act and the claim of the Petitioner is based on the same. In our prima facie reading of the reasons the fact of the operations have come to standstill and the properties were disposed of and the claim of depreciation being incorrect, is a matter of narration. Thereafter narrating so, the foundation of the reasons, prima facie, indicate that foundation is the allegation that the Petitioner has not paid the liability. This prima facie opinion of ours is borne out by the order passed by the AO disposing of the objections. The Petitioner had not referred to the so called other two grounds for reopening. AO has not stated that the two grounds for reopening have gone unanswered. It is the cont....... + More
- 2020 (1) TMI 922
Benefit of the exemption u/s 10(23C)(VI) - competent authority of the Central Board of Direct Taxes, New Delhi for securing the said benefit - Seeking direction to the 1st respondent to consider application submitted by the petitioner, seeking exemption and restraining the 3rd respondent in initiating all further coercive proceedings against the petitioner society for non-submission of Income Tax returns, till orders are passed by the 1st respondent in Ext.P12 application - HELD THAT:- After hearing both sides and taking note of the pleadings and documents on record and without getting into the merits of the controversy in any manner, it is ordered that the 1st respondent competent authority of the Central Board of Direct Taxes, New Delhi will take up the plea made by the petitioner in Ext.P12 application dated 30-10-2019 and after afford....... + More
- 2020 (1) TMI 921
Condonation of delay in filing return - reasonable cause of delay - genuine hardship - disagreement of the promoters and investors creating deadlock in the adoption of audited accounts of the petitioner - HELD THAT:- Order passed by Central Board of Direct Taxes, it is evident that the Prl. Chief Commissioner of Income Tax, Additional Chief Commissioner of Income Tax as well as Assessing Officer, had recommended that the delay in filing the return be condoned. Order rejecting condonation of delay is cryptic and while deciding the application filed by the petitioner under Section 119(2)(b) of the Act, the claim of the petitioner has been dealt with on merits. It is also pertinent to mention that the circular dated 09.06.2015 does not apply in cases of Central Board of Direct Taxes. However, by placing reliance on the aforesaid decision, th....... + More
- 2020 (1) TMI 873
Reopening of assessment u/s 147 - capital gain - main contentions is that the property in question though sold vide Deed of Transfer dated 30 March 2012, the cheque was encashed on 16 April 2012 , the possession was handed over on 20 April 2012 and the registration was completed on 20 April 2012 with documents supporting this contention - HELD THAT:- The order rejecting the objections of the Petitioner nowhere refers to any of these documents. The Assessing Officer has merely reiterated the reasons already supplied. The Petitioner has relied upon the decision in the case of Commissioner of Income-tax-2 v. Millennium Estates (P.) Ltd. [2018 (2) TMI 308 - BOMBAY HIGH COURT] to contend that for the purpose of capital gains, handing over of possession is of importance. Contention of the Petitioner, that there is no reason to believe that the income had escaped assessment, prima facie, holds merit.
- 2020 (1) TMI 872
Correct head of income - rental income received - income from business or Income from House Property - Tribunal held assessee had exploited its property commercially by way of complex commercial activities - HELD THAT:- The object of the Respondent - Assessee is clearly to acquire, develop, let out the commercial complex. It is clear from the objects with which the assessee was incorporated to derive income from running and maintaining the shopping mall. The Respondent - Assessee has provided even marketing and promotional activities and also organising various events and programs. This being done by the Respondent - Assessee also in the context of the revenue sharing agreement copies of which have been placed on record. A perusal of one such agreement shows that the Appellant - Revenue receives not only license fee of the amounts specifi....... + More
- 2020 (1) TMI 871
Production activity for the purpose of 80H, 80I and 80IA - bottling of the gas into gas cylinders - whether no new production comes into existence in this process ? - HELD THAT:- Decision of the Supreme Court in the case of Commissioner of Income Tax vs. Hindustan Petroleum Corporation Ltd [2017 (8) TMI 197 - SUPREME COURT] is placed on record. It is a common ground that in view of this dicta of the Supreme Court, the substantial questions of law as framed will have to be answered against the Appellant - Revenue. Disallowance u/s 14A - rule 8D applicability - HELD THAT:- As we proceed on the basis that principle laid down under Rule 8D of the Income Tax Rules, 1962 ought to have taken into consideration and applied in the case of the Respondent - Assessee. The Assessment Year in question is 2003-04. The Rule 8D is held to applicable from ....... + More
- 2020 (1) TMI 870
Deduction u/s 80 HHC - excluding from the total business income the Re-assortment charges and Labour Commission for the purpose of calculating deduction u/s 80 HHC - scope of amendment - Retrospectivity - Tribunal held that such charges are not includeble in business profits for the purpose of computation of special deduction under Section 80HHC accordingly the Appeal was allowed - HELD THAT:- The Assessment Year in question is of importance. The Assessment Year is 1991-92. The Section 80 HHC of the Act was amended with effect from 1 April 1992 and explanation was brought in the same. In the case of K.K. Doshi and Co. v. Commissioner of Income-Tax [2000 (8) TMI 74 - BOMBAY HIGH COURT] an issue arose before this Court whether the service charges constitute business income for the purposes of computing export profits under Section 80HHC. Pr....... + More
- 2020 (1) TMI 869
N.P. determination - Tribunal holding that the net profit rate @ 8% was applied on the contract receipts but no deduction was allowed on account of depreciation - whether once the Appellate Tribunal had determined profit on the basis of net profit basis @ 8% of the contract value, it was no longer open for the ITAT to re-do computation on the 12.5% of net profit - HELD THAT:- Tribunal failed to apply the judgment rendered by this Court in the case of M/s. Shri Ram Jhanwar Lal [2008 (7) TMI 505 - RAJASTHAN HIGH COURT] nor the judgment rendered in the case of Jain Construction [1999 (9) TMI 26 - RAJASTHAN HIGH COURT] Present appeal is allowed to the extent of modifying the order of the Tribunal for determining the profit rate @ 8% instead of 12.5% on gross contract receipt as earlier determined by the Tribunal subject to allowing depreciati....... + More
- 2020 (1) TMI 868
Deduction u/s 10(23C)(VI) - Secondary education - petitioner is a body corporate constituted under the Board of Secondary Education Act and is an instrumentality of the State for imparting secondary education - HELD THAT:- The petitioner-Board of Secondary Education, Odisha is constituted under the Board of Secondary Education Act 10 of 1953 (for short ‘the Act’), inter alia, to provide secondary education in the State of Odisha by preparing course for education in secondary preuniversity stage and to conduct examination for those, who have completed prescribed courses of study and to award certificates to successful candidates and also performing other statutory duties incidental thereto. Therefore, establishment of Board is only for imparting secondary education throughout the State of Odisha under Section 3 of the Act to re....... + More
- 2020 (1) TMI 867
TDS us 194C OR 194J - amounts paid to cable operators for channel placement fee - HELD THAT:- Amounts paid to cable operators for channel placement fee was subject to tax deduction at source under Section 194C of the Act and not under Section 194J of the Act as contended by the Revenue. See CIT v. Star Den Media Services (P.) Ltd. 2019 (1) TMI 1703 - BOMBAY HIGH COURT] and CIT v. NGC Network (India) (P.) Ltd [2014 (10) TMI 365 - BOMBAY HIGH COURT] Disallowance on account of advertising, marketing and publicity expenses incurred by the assessee for promotion of its channels - Allowable business expenses - foreign sister concern of the assessee is benefited by these expenses - HELD THAT:- Tribunal held that once it is not disputed that the expenses were primarily incurred for the purpose of business, incidental benefit to some other party f....... + More
- 2020 (1) TMI 832
Revision u/s 264 in favor of assessee - CIT rejected the application on the ground that, the assessee has filed application only against the order of assessment - Additions towards cash payment in violation of section 40A(3) in the reassessment proceedings - Whether the deposit of amount in cash in the bank account of M/s Jalan Synthetics can be held to be covered under the provisions of Rule 6DD(c)(v) of the Rules, 1962? and for which purpose it can be said to be a payment by use of “electronic clearing system” through bank account - HELD THAT:- It seems that the issue pertaining to the validity of the order under Section 147 of the Act, 1961 was not raised by the assesseee in his application and his only grievance was with regard to the re-assessment order. Cash is deposited directly in the bank account of the beneficiary, c....... + More
- 2020 (1) TMI 831
Deduction u/s 80P - Whether an entity registered under the Karnataka Souharda Sahakari Act, 1997 fits into the definition of “co-operative society” as enacted by sec. 2(19) of the Income Tax Act, 1961 for the purpose of Section 80P thereof?” - HELD THAT:- In both these definitions as defined by sec.2(d-2) of 1959 Act and Sec. 2(e) of 1997 Act the word ‘co-operative’ is employed not as an adjective but as a noun; the definition of other relative concepts in the dictionary clauses of these Acts strengthens this view; this apart, sec.7 of the 1997 Act provides that the entity registered as a ‘co-operative’ shall be a body corporate, notwithstanding the conspicuous absence of the word ‘society’ as a postfix; sec.9 of the 1959 Act makes the entity once registered u/s.8 thereof a body corpor....... + More
- 2020 (1) TMI 830
Deductions relating to, operating expenses, the cash deposit in bank and agricultural income - HELD THAT:- Revenue followed due process of law to its hilt and in spite of granting the assessee several opportunities, he miserably failed to comply with the notices issued by the concerned authorities. As such, the assessment was completed in the manner as stated in the order reproduced hereinabove. Assessee did not submit evidence or material at all before the lower Income Tax authorities in support of its claims for the deductions relating to, operating expenses, the cash deposit in bank and agricultural income. Decided in favour of the Revenue
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