2021-TIOL-1204-HC-MAD-IT
Exemplarr Worldwide Shipping Solutions Pvt Ltd Vs ACIT
Whether denial of certain expenses u/s 37(1) of the Act, is in violation of the principles of natural justice, where the assessee does not submit documents to justify the expenses incurred as being in course of business - NO: HC
-Case remanded : MADRAS HIGH COURT
2021-TIOL-1203-HC-AHM-IT
Divya Jyoti Diamonds Pvt Ltd Vs ITO
Whether re-opening of assessment is sustainable where the order is passed in a mechanical manner, without considering or disposing off the objections raised by the assessee against such proceedings - NO: HC
-Assessee's writ petition allowed : GUJARAT HIGH COURT
2021-TIOL-1202-HC-MAD-IT
CIT Vs Sri Krishna Tiles And Potteries Madras Pvt Ltd
Whether an application for settlement of cases cannot be construed as absolute right, rather it is a right of taxpayer to approach Settlement Commission with full & true disclosure of his income - YES: HC
Whether Section 245(C) can be tagged along with the regular provisions for the purpose of settling the disputes between the assessee and the Department - NO: HC
Whether power of the AO conferred u/s 153(A) can be usurped by the Settlement Commission - NO: HC
Whether in absence of true & full disclosure, the SETCOM cannot go beyond the scope of Section 245C and adjudicate the additional income found by the Department during seizure, which is admittedly not disclosed in the application filed at the first instance by assessee - YES: HC
- Revenue's petition allowed: MADRAS HIGH COURT
2021-TIOL-1201-HC-MAD-IT
Madras Race Club Vs DCIT
Whether I-T Authorities are empowered to adjudicate new issues identified during course of proceedings and there is no impediment as such - YES: HC
Whether intricacies raised by Department with reference to certain transactions are to be adjudicated in the manner known to law and Writ Court cannot go into details of such transactions so as to make a finding, which would cause prejudice to either of the parties - YES: HC
- Assessee's petitions dismissed: MADRAS HIGH COURT
2021-TIOL-1200-HC-AHM-IT
Sameer Gulabchand Shah HUF Vs ITO
Whether when there is live link between material which suggested escapement of income and information of belief, then AO is justified in initiating proceedings u/s 147 - YES: HC
Whether when AO has cause or jurisdiction to suppose that income has escaped assessment, he can be said to have reason to believe that income has escaped assessment - YES: HC
Whether the expression 'reason to believe' can be read to mean that AO should have finally ascertained the fact by legal evidence or conclusion - NO: HC
Whether at the stage of issuing reopening notice, the writ court cannot investigate into adequacy or sufficiency of the reasons - YES: HC
- Assessee's writ application dismissed: GUJARAT HIGH COURT
2021-TIOL-845-ITAT-DEL
ACIT Vs Jaidev Prasad Minda
Whether addition made for same nature of transaction recorded in two separate documents amounts to double addition – YES: ITAT.
- Revenue's appeals dismissed: DELHI ITAT
2021-TIOL-844-ITAT-MAD
Beach Mineral Company Pvt Ltd Vs ACIT
Whether where deduction claimed u/s 10B would have a bearing on computation of book profit u/s 115JB, the issue of book profits also is to be remanded, where the issue of deduction u/s 10B is remanded for re-consideration - YES: ITAT
- Case remanded: CHENNAI ITAT
2021-TIOL-843-ITAT-HYD
Bharat Financial Inclusion Ltd Vs DCIT
Whether provision made for contribution to approved gratuity fund can be allowed as deduction u/s 40A(7)(b) of the Act - YES: ITAT
Whether it is not necessary that a payment be made by assessee as contribution to an approved gratuity fund existing on the day when the provision is made or during the period for which the provision is made - YES: ITAT
- Assessee's appeal allowed/Revenue's appeal dismissed: HYDERABAD ITAT
