2021-TIOL-258-SC-IT

Pr.CIT Vs Jindal Steel And Alloys Ltd

Having heard the parties, the Supreme Court refused to interfere in the findings of HC on the issue of slump sale and dismissed the SLP.

- Revenue's SLP dismissed: SUPREME COURT OF INDIA

2021-TIOL-257-SC-IT

CIT Vs Mandavi Builders

Having heard the parties, the Supreme Court refused to interfere in the findings of HC on the issue of deduction u/s 80IB(10) and dismissed the SLP.

- Revenue's SLP dismissed: SUPREME COURT OF INDIA

2021-TIOL-256-SC-IT

Pr.CIT Vs Ram Krishnan Kulwant Rai Holdings Pvt Ltd

Having heard the parties, the Supreme Court found that since the assessee has already availed the benefit under the Vivad se vishwas scheme, no further order is required.

- SLP disposed of: SUPREME COURT OF INDIA

2021-TIOL-1882-ITAT-JAIPUR

Laxmi Narayan Agarwal Vs Pr.CIT

Whether it is fit case for remand where revisionary order u/s 263 is passed without permitting adequate opportunity to assessee to furnish reply to SCN proposing to exercise revisionary powers u/s 263 - YES: ITAT

- Case remanded: JAIPUR ITAT

2021-TIOL-1881-ITAT-BANG

Tecnotree Convergence Ltd Vs ITO

Whether sale proceeds are to be received in convertible foreign exchange in India for being eligible to be considered for purposes of claiming deduction u/s 10 A - YES: ITAT

- Assessee's appeal allowed: BANGALORE ITAT

2021-TIOL-1880-ITAT-MAD

Shanthilal Movji Bhai Thakker Vs ITO

Whether in respect of income from letting out of property, each case has to be looked at from a businessman's point of view to find out whether the letting was the doing of a business or the exploitation of his property by an owner - YES: ITAT

Whether income from letting out property is classifiable under Business Income where the person letting it out is engaged in sub-leasing of property and derives income from rental income - YES: ITAT

- Assessee's appeals partly allowed: CHENNAI ITAT