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Income Tax - Supreme Court - Case Laws
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- 2020 (6) TMI 158 - SUPREME COURT
Deduction u/s 80-O - Royalties etc. - income received by the appellants in foreign exchange, for the services provided by them to foreign enterprises - High Court has essentially held that the assessees were merely marine product procuring agents for the foreign enterprises, without any claim for expertise capable of being used abroad rather than in India and hence, the services rendered by them do not qualify as the ‘services rendered from India’, for the purpose of Section 80-O - HELD THAT:- In the setup of the present case, for a proper comprehension of the contents and text of the relevant provision of Section 80-O and Explanation (iii), which are carrying even the minute distinction of the expressions “from India” and “in India”, recourse to lexical semantics has been inevitable. However, in all fa....... + More
- 2020 (5) TMI 57 - SUPREME COURT
Income accrue or arise in India - Revenue from playing of the matches in India - mandate under Section 115 BBA (1)(b) - payment was towards grant of privilege and had nothing to do with matches that were played in India - HELD THAT:- In the present case, the Non-resident Sports Associations had participated in the event, where cricket teams of these Associations had played various matches in the country. Though the payments were described as Guarantee Money, they were intricately connected with the event where various cricket teams were scheduled to play and did participate in the event. The source of income, as rightly contended by the Revenue, was in the playing of the matches in India. The mandate under Section 115 BBA (1)(b) is also clear in that if the total income of a Non-resident Sports Association includes the amount guaranteed t....... + More
- 2020 (5) TMI 27 - SUPREME COURT
Refunds along with interest u/s 244A - initiation of proceedings pursuant to notice under sub-section (2) of Section 143 - exercise of power of withholding of refund - HELD THAT:- We hold that in respect of Assessment Years ending on 31st March 2017 or before, if a notice was issued in conformity with the requirements stated in sub-section (2) of Section 143 of the Act, it shall not be necessary to process the refund under subsection (1) of Section 143 of the Act and that the requirement to process the return shall stand overridden. Whether any intimation is required to be given to the assessee that because of initiation of proceedings pursuant to notice under sub-section (2) of Section 143 of the Act processing of return in terms of sub-section (1) of Section 143 of the Act, would stand deferred? - The processing of return in terms of su....... + More
- 2020 (4) TMI 827 - SUPREME COURT
Doctrine of mutuality - Exemption from taxability - excess of income over expenditure - Common Identity - Oneness with the members / contributors - Completeness of Identity - Non-profiteering and Obedience to Mandate - assessee incorporated by YRIPL as its fully owned subsidiary after having obtained approval from the Secretariat for Industrial Assistance (for short “SIA”) for the purpose of economisation of the cost of advertising and promotion of the franchisees as per their needs - HELD THAT:- What is prohibited is the infusion of a participant in the transaction who does not become a ‘member’ of the common fund, at par with other members, and yet participates either in the contribution or surplus without subjecting itself to mutual rights and obligations. The principle of common identity prohibits any one dimen....... + More
- 2020 (4) TMI 794 - SUPREME COURT
Income accrued in India - PE in India - liaison offices in India - India- UAE DTAA - second mode of remittance through the liaison offices in India on account of the activity undertaken in the liaison office in India of downloading the particulars of remittances through electronic media and printing cheques/drafts drawn on the banks in India, which, in turn, are couriered or dispatched to the beneficiaries in India, in accordance with the instructions of the NRI remitter - HELD THAT:- The expression “business connection” can be discerned from Section 9(1), as also, the meaning of expression “business activity”. We will advert to those provisions a little later and for the time being, assume that the stated activities of the respondent are business activities. However, since the stated activities of the liaison offi....... + More
- 2020 (4) TMI 793 - SUPREME COURT
Addition u/s 68 - Levy of penalty u/s 271(1)(c) - concealment of particulars - unexplained cash credit / bogus purchases - At the time of assessment, the appellant/assessee had failed to produce any explanation or evidence in support of the entries regarding purchases made from unregistered dealers. In the penalty proceedings, however, the appellant/assessee produced affidavits of 13 unregistered dealers out of whom 12 were examined by the Officer. HELD THAT:- The appellate authority vide order dated 13.1.2011, had not only accepted the explanation offered by the appellant/assessee but also recorded a clear finding of fact that there was no concealment of income or furnishing of any inaccurate particulars of income by the appellant/assessee for the assessment year 19981999. That now being the indisputable position, it must necessarily fol....... + More
- 2020 (4) TMI 792 - SUPREME COURT
Constitutional validity of clause (f) of Section 43B - Inconsistency of clause (f) and absence of nexus with Section 43B - actual payment of liability to the employees (leave encashment) as a condition precedent for extending the benefit of deduction under the 1961 Act - clause (f) was inserted in the already existing Section 43B vide Finance Act, 2001 with effect from 1.4.2002 - application of clause (f), the eligibility for deduction arises in the previous year in which the abovesaid payment is actually made and not in which provision was made in that regard, irrespective of the system of accounting followed by the assessee - High Court [2007 (6) TMI 175 - CALCUTTA HIGH COURT] has characterised clause (f) as “arbitrary” and “unconscionable” while imputing it with unconstitutionality HELD THAT:- From 1983 onwards,....... + More
- 2020 (4) TMI 133 - SUPREME COURT
Reopening of assessment u/s 147 - Valid reason to believe that undisclosed income had escaped assessment or not? - sufficient material before the assessing officer to take a prima facie view that income of the assessee had escaped assessment - failure to show non-disclosure of facts the notice having been issued after a period of 4 years - HELD THAT:- Obviously, during the assessment proceedings the assessee will have the right to place material on record to show that the transaction in question was a genuine transaction. It is trite law that an assessing officer can only reopen an assessment if he has ‘reason to believe’ that undisclosed income has escaped assessment. Mere change of opinion of the assessing officer is not a sufficient to meet the standard of ‘reason to believe’. Subsequent facts which come to the ....... + More
- 2020 (3) TMI 889 - SUPREME COURT
Demand of additional tax under the provisions of Section 143(1-A) - Prima facie adjustments - As per section 143(1A), additional tax has to be charged @ 20% of the tax payable on such ‘excess amount’. The ‘excess amount’ refers to the increase in the income and by implication the reduction in loss where even after the addition there is negative income. - disallowing 25% of the depreciation - HELD THAT:- This Court in Commissioner of Income Tax, Gauhati vs. Sati Oil Udyog Limited and another [2015 (3) TMI 854 - SUPREME COURT] had occasion to consider elaborately the provisions of Section 143(1-A), its object and validity. There was a challenge to the retrospectivity of the provisions of Section 143(1-A) as introduced by Finance Act, 1993. The Gauhati High Court had held that retrospective effect given to the amendme....... + More
- 2020 (3) TMI 510 - SUPREME COURT
Determination of additional income - notional sales - value of the unaccounted purchases made by the assessee - HELD THAT:- Learned counsel for the petitioner, on instructions issued by the Department of Revenue, Ministry of Finance vide F.No.390/Misc./116/20l7-JC dated 22.08.2019, seeks permission to withdraw this special leave petition along with pending applications therein due to low tax effect. Permission granted, subject to just exceptions. The special leave petition and pending applications are dismissed as withdrawn, leaving question(s) of law open.
- 2020 (3) TMI 509 - SUPREME COURT
ALP determination - determination of ALP of the alleged international transactions involving the Petitioner and its AE have been made without affording the Petitioner an opportunity of being heard - HELD THAT:- Leave granted.
- 2020 (3) TMI 476 - SUPREME COURT
Deemed dividend - Buy back of shares / reduction in share capital - amount remitted to non-residents - Determination of liability of the appellant u/s 115-O - as submitted that the appellant was never put to notice about the proposed determination - HELD THAT:- On the issue whether communication dated 22.03.2018 was in the nature of determination of the liability, both the learned counsel were heard at considerable length, at the end of which it was agreed by Mr. Zoheb Hossain, learned Advocate for the Department, that the communication dated 22.03.2018 could be treated as a show cause notice and the Department be permitted to conclude the issue within a reasonable time, provided the interim order passed by the Single Judge of the High Court on 03.04.2018 was continued. The course suggested by the learned counsel for the Department was ac....... + More
- 2020 (3) TMI 362 - SUPREME COURT
Stay petition - recovery proceedings - seeking a restraint order against the Tax Recovery Officer, Range 1, Kalyan - Respondent No.4 for enforcing the attachment made under the Income Tax Act, 1961for recovery of the dues - HELD THAT:- According to Rule 16(2), if an attachment has been made under Schedule II to the Act, any private transfer or delivery of the property shall be void as against all claims enforceable under the attachment. The property in dispute was mortgaged by BPIL to the Union Bank of India in 2000 and the DRT passed an order of recovery against the BPIL in 2002. The recovery certificate was issued immediately, pursuant to which an attachment order was passed prior to the date on which notice was issued by the Tax Recovery Officer- Respondent No.4 under Rule 2 of Schedule II to the Act. It is true that the sale was condu....... + More
- 2020 (3) TMI 361 - SUPREME COURT
Assessment u/s 153C - mandation of satisfaction note recorded by the AO as required u/s 153C - cash receipts on sale of shop/offices at M/s Super Mall - HELD THAT:- From satisfaction note, it emerges that the Assessing Officer is satisfied that the documents containing the details of the cash receipts on sale of shop/offices at M/s Super Mall, Karnal belonged to the other person - assessee - M/s Super Mall. He is also satisfied that the documents/pen drive are seized from the searched person. He is also satisfied that the documents so seized from the residence of the searched person/Ved Prakash Bharti belonged to the assessee - the other person. Therefore, the Assessing Officer was satisfied and it is specifically mentioned that the documents so seized belonged to the assessee - the other person. Therefore, it cannot be said that the mand....... + More
- 2020 (3) TMI 360 - SUPREME COURT
Deduction u/s 80IA - whether assessee fulfilled the condition of sub-Section (4)(i)(b) of Section 80IA? - partnership firm was converted into a company on 28.3.2000 under Part IX of the Companies Act - HELD THAT:- For the purpose of considering compliance of clause (a) of Section 80IA ( 4)(i), the assessee must be an enterprise carrying on business of (i) developing, (ii) maintaining and operating or (iii) developing, maintaining and operating any infrastructure facility, which enterprise is owned by a company registered in India. That stipulation is fulfilled in the present case, as the registered firm was converted into a company under Part IX of the Companies Act on 28.3.2000, which is before the commencement of Assessment Year 2002-2003. For the assessment year under consideration, the activity undertaken by the assessee is only maint....... + More
- 2020 (3) TMI 182 - SUPREME COURT
Characterization of income - transport subsidy received - revenue or capital receipt - HELD THAT:- In respect of same assessee, the High Court for the subsequent assessment year 2001-2002 [2009 (9) TMI 572 - GAUHATI HIGH COURT] has answered the question on the basis of the exposition of this Court in particular in ‘Jai Bhagwan Oil & Flour Mills vs. Union of India & Ors.’ [2009 (5) TMI 630 - SUPREME COURT] . Admittedly, this decision is accepted by the Department and no appeal is preferred against the same. - Decided in favour of the assessee
- 2020 (2) TMI 1306 - SUPREME COURT
Levying penalty u/s 271(1)(c) - receipt of interest on income tax refund u/s 244A - Timing of receipt of interest income and taxability of such interest in the year under consideration - HELD THAT:- We are of the considered view that once, the fact with regard to taxability of interest income in AY 2013-14 was not disputed by the Ld. AO, then he is erred in levying penalty u/s 271(1)(c) of the Act, 1961 for not offering interest income to tax for the year under consideration, more particularly when, the assessee has explained the reasons for not accounting and considering interest income to tax for the year under consideration. When, the assessee has offered to tax interest income in subsequent financial year, there is no reason for the Ld. AO to levy penalty on the same income for the year under consideration for not offering to tax said....... + More
- 2020 (2) TMI 1293 - SUPREME COURT
Exemption u/s 11 - entitled for registration under section 12AA - Charitable activity u/s 2(15) - HELD THAT:- The purpose of section 12AA of the Act is to enable registration only of such trust or institution whose objects and activities are genuine. In other words, the Commissioner is bound to satisfy himself that the object of the Trust are genuine and that its activities are in furtherance of the objects of the Trust, that is equally genuine. Since section 12AA pertains to the registration of the Trust and not to assess of what a trust has actually done, we are of the view that the term ‘activities’ in the provision includes ‘proposed activities’. That is to say, a Commissioner is bound to consider whether the objects of the Trust are genuinely charitable in nature and whether the activities which the Trust prop....... + More
- 2020 (2) TMI 1219 - SUPREME COURT
Payment of royalty - High Court vide impugned judgment answered the question formulated against the assessee relying on the decision in Commissioner of Income Tax and Anr. Vs. Samsung Electronics Co. Ltd. [2009 (9) TMI 526 - KARNATAKA HIGH COURT] - HELD THAT:- It is not in dispute that the said decision has been considered in the subsequent decision in G.E. India Technology Centre Pvt. Ltd. Vs. Commissioner of Income Tax and Anr. . [2010 (9) TMI 7 - SUPREME COURT] and the court held that the question of payment of royalty ought to be determined by the High Court on merits and for that reason, it relegated the parties before the High Court. The same reasons would apply to the present case, as the High Court has not answered the question of payment of royalty on merits. Accordingly, we set aside the impugned judgment and order and relegate ....... + More
- 2020 (2) TMI 1218 - SUPREME COURT
Assessment u/s 153C - petitioner has submitted no documents or material belonging to the petitioner were found, despite which, the Assessing Officer wishes to assess the petitioner on the basis of the material collected during such search relying on the amendment in section 153C of the Act with effect from 1.6.2015 - HELD THAT:- Delay condoned. Issue notice.
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