2020-TIOL-2046-HC-MAD-IT
Krishnaswami Vijayakumar Vs Principal Director of Income Tax
In writ, the High Court observes that the present petition has been rendered infructuous since the SCN was followed by a prosecution order & such order was not challenged before this bench or before the Single Judge bench of this court. Hence the petitioner is at liberty to raise the relevant grounds before the relevant Trial Court.
- Assessee's writ petition dismissed : MADRAS HIGH COURT
2020-TIOL-2045-HC-MAD-IT
Kalyanasundaram Suresh Vs DCIT
In writ, the High Court finds that the interests of the Revenue have been sufficiently safeguarded on account of the amounts pre-deposited by the assessee. Hence interim stay on recovery of demand is granted, till the assessee's case is heard and disposed off by the Tribunal.
- Assessee's writ petition disposed of : MADRAS HIGH COURT
2020-TIOL-2044-HC-KERALA-IT
B Mohanachandran Nair Vs ACIT
In writ, the High Court directs that the Revenue authorities concerned adjudicate upon the assessment proceedings for the relevant AY in letter and spirit, as per directions issued by the Tribunal. The court also sets a one-month target for completing such exercise and proposes to impose penalty of Rs 25000/- for non compliance with its order.
- Assessees' writ petitions disposed of : KERALA HIGH COURT
2020-TIOL-2043-HC-MAD-IT
PR CIT Vs Rakesh Sarin
Whether admission of additional evidences by CIT(A) without providing an opportunity of being heard to the AO while finalising the Block Assessment is legally valid – NO: HC
- Revenue's appeal allowed: MADRAS HIGH COURT
2020-TIOL-2042-HC-MAD-IT
Gaurav Syal Vs ITO
Whether it is a fit case for remand where the AO rejects assessee's claim for deduction u/s 54 without assigning any elaborate reasons - YES: HC
- Case remanded: MADRAS HIGH COURT
2020-TIOL-2041-HC-KAR-IT
CIT Vs Jupiter Capital Pvt Ltd
On appeal, the High Court modifies the order of the Tribunal and directs the AO to reconsider the relevant issue while also considering the law laid down in the decision of the High Court in M/S. GODREJ & BOYCE MANUFACTURING CO. LTD
- Case remanded: KARNATAKA HIGH COURT
2020-TIOL-2040-HC-KAR-IT
CIT Vs Quintiles Research India Pvt Ltd
Whether where as per Rules 18D & Rule 18DA of the I-T Rules, the prescribed authority has granted approval to a research project or to one related to scientific development, it is not open to the AO to question the approval certificate so granted or its validity - YES: HC
- Revenue's appeal dismissed: KARNATAKA HIGH COURT
2020-TIOL-1515-ITAT-MUM
ITO Vs Bellor Homes And Realtors Pvt Ltd
On appeal, the Tribunal finds there to be no need to keep the appeal pending since the assessee has filed declaration under the Direct Tax Vivad Se Vishwas Scheme 2020. The assessee is nonetheless at liberty to seek restoration of appeal in case an adverse order is passed.
- Revenue's appeal disposed of: MUMBAI ITAT
2020-TIOL-1514-ITAT-MUM
Mukund Ltd Vs DCIT
On appeal, the High Court finds there to be no reason to keep the present appeal alive since the assessee seeks resolution of the matter under the Direct Tax Vivad Se Vishwas Scheme 2020 and has already filed application thereunder. Hence the appeals are disposed off as withdrawn.
- Assessee's appeal disposed of: MUMBAI ITAT
2020-TIOL-1513-ITAT-DEL
Sudhir Associates Vs CIT
Whether if the notice u/s 143(2) is issued beyond the prescribed statutory limit, reassessment proceedings are invalid - YES : ITAT
- Assessee's appeal allowed: DELHI ITAT
2020-TIOL-1512-ITAT-DEL
Red Fort Shahjahan Properties Pvt Ltd Vs ACIT
Whether addition of notional interest is justified under the accrual concept of accounting, having regard to the mandate of the mandatory and binding AS-9 - NO: ITAT
Whether where there is uncertainty regarding realisation of any claim/ receipt including interest, the same is to be recognized only when there is reasonable certainty as regards its ultimate collection - YES: ITAT
- Assessee's appeal allowed: DELHI ITAT
2020-TIOL-1511-ITAT-DEL
ACIT Vs Imperial Housing Ventures Pvt Ltd
Whether once Assessee established before AO that the purchases were genuine and AO has also accepted the same, then addition u/s 69C is not sustainable in such cases - YES: ITAT
- Revenue's appeal dismissed: DELHI ITAT
2020-TIOL-1510-ITAT-MUM
ACIT Vs Bajaj Holdings & Investment Ltd
Whether expenditure on replacement of Jigs and fixtures is revenue expenditure - YES : ITAT
- Revenue's appeal dismissed: MUMBAI ITAT
2020-TIOL-1509-ITAT-MUM
Laxmichand Dedhia Vs ITO
Whether the brokerage paid becomes an expenditure incurred for the purpose of earning interest income in terms of Section 57(iii) of the Act and is squarely allowable as deduction - YES : ITAT
- Case remanded: MUMBAI ITAT
2020-TIOL-1508-ITAT-MUM
ITO Vs Ramnathan Krishnan
Whether if the tax effect of quantum additions is below threshold monetary limit of Rs.50 Lacs then the appeal is not maintainable in terms of Circular No. 17/2019 issued by CBDT - YES : ITAT
- Revenue's appeal dismissed: MUMBAI ITAT
2020-TIOL-1507-ITAT-KOL
Creative Museum Designers Vs ITO
Whether claim u/s 11 is to be extended to a registered organization u/s 12A, provided the activities of such organization should be in consonance with the objects of Sec 11 - YES: ITAT
- Assessee's appeal dismissed: KOLKATA ITAT
2020-TIOL-1506-ITAT-BANG
Dr Devika Gunasheela Vs JCIT
Whether if the property came by way of succession, the cost of acquisition of the capital asset would be the cost of the capital asset to the previous owner or the FMV as on 01.04.1981 at the option of the assessee - YES : ITAT
- Assessee's appeal partly allowed: BANGALORE ITAT
2020-TIOL-1505-ITAT-JAIPUR
Pankaj Ladha Vs DCIT
Whether the valuer should give the nature of the coins, their weight and then estimate their value afterwhich the AO consider the figure as against the amount estimated by the valuer with basis - YES : ITAT
- Assessee's appeal allowed: JAIPUR ITAT
