2021-TIOL-215-SC-IT

CIT Vs JSW Steel Ltd

Having heard the parties, the Supreme Court granted leave to the Revenue Department to defend their case on the issue of deduction u/s 43B.

- Leave granted: SUPREME COURT OF INDIA

2021-TIOL-214-SC-IT

Gurudwara Sahib Patti Dhaliwal Vs Chief CIT

Having heard the parties, the Supreme Court issued notices to the respective parties directing their appearances for further hearing on the issue of refund and exemption on agricultural land.

- Notice issued: SUPREME COURT OF INDIA

2021-TIOL-213-SC-IT

Krishna Gopal Tiwary Vs UoI

Whether date of commencement fixed by Executive in exercise of power delegated by Amending Gratuity Act cannot be treated to be retrospective, as benefit of higher gratuity is one-time available to employees only after commencement of Amending Act - YES: SC

Whether benefit paid to assesses under the office memorandum issued by Government, is not entitled to exemption in view of specific language of Section 10(10)(ii) of Income Tax Act - YES: SC

- Assessee's appeal dismissed: SUPREME COURT OF INDIA

2021-TIOL-1706-HC-KOL-IT

McNally Bharat Engineering Company Ltd Vs ACIT

Whether very essence of passing of order u/s 241A is application of mind by AO to issues which are germane for withholding refund on basis of statutory prescription contained in such section - YES: HC

Whether AO is required to pass speaking order culling out reasons as to how grant of refund is likely to affect revenue, before withholding refund u/s 241A - YES: HC

- Assessee's petition allowed: CALCUTTA HIGH COURT

2021-TIOL-1343-ITAT-INDORE

Radheyshyam Khandelwal Vs ACIT

Whether when assessee fulfills conditions provided u/s 10(38), claim of exempt income u/s 10(38) of LTCG from sale of shares must be allowed – YES: ITAT

- Assessees' appeals allowed: INDORE ITAT

2021-TIOL-1342-ITAT-INDORE

Kamal Kishore Mukati Vs Pr.CIT

Whether sale consideration is received prior to entering into registered sale deed, date of agreement to sell must be considered for determination of value u/s 50C – YES: ITAT.

- Assessees' appeals allowed: INDORE ITAT

2021-TIOL-1341-ITAT-INDORE

Shiv Narayan Sharma Vs ACIT

Whether when assessee fulfills conditions provided u/s 10(38), claim of exempt income u/s 10(38) of LTCG from sale of equity shares must be allowed – YES: ITAT. Whether when assessee is not allowed to cross-examine witnesses whose statements are made basis of the order, the order becomes a nullity – YES: ITAT.

- Assessees' appeals allowed: INDORE ITAT