2021-TIOL-1359-HC-MUM-IT-LB

Mohd Farhan A Shaikh Vs DCIT

Whether ITO's 'mere failure to tick mark applicable grounds' in notice issued u/s 271, will vitiate entire penalty proceedings - YES: HC Larger Bench

Whether prima facie opinion in the assessment order need not always translate into actual penalty proceedings - YES: HC Larger Bench

Whether contravention of a mandatory condition or requirement for a communication to be valid communication is fatal, with no further proof - YES: HC Larger Bench

Whether penalty proceedings culminate under a different statutory scheme that remains distinct from assessment proceedings and therefore, the assessee must be informed of the grounds of penalty only through statutory notice - YES: HC Larger Bench

- Reference in favour of Assessee: BOMBAY HIGH COURT

2021-TIOL-1034-ITAT-MUM

Dimple Enterprises Vs DCIT

Whether when the business of taxpayer is not letting of property, then rent from unsold stock is to be assessed as income from house property - YES: ITAT

Whether AO is justified in from obtaining municipal ratable value from Departmental or government machinery, if taxpayer fails to provide the same to AO - YES: ITAT

- Case remanded: MUMBAI ITAT

2021-TIOL-1033-ITAT-MUM

DCIT Vs Maharashtra Industrial Development Corporation

Whether when neither ownership of land was transferred to State corporation, nor it was held as 'deemed owner' of same, then assessing lease premiums parked as deposits with bank as income of corporation, is not justified - YES: ITAT

- Revenue's appeal dismissed: MUMBAI ITAT

2021-TIOL-1032-ITAT-JAIPUR

GB Impex Vs ITO

Whether unverifiable purchases during course of assessment, merits rejection of books u/s 145(3) - YES: ITAT

- Assessee's appeal dismissed: JAIPUR ITAT