2022-TIOL-41-SC-IT-LB
CIT Vs Karnataka Power Transmission Corporation Ltd
Having heard the parties, the Supreme Court found no reason to interfere in the peculiar facts and circumstances of the case.
- Revenue's SLP dismissed: SUPREME COURT OF INDIA
2022-TIOL-40-SC-IT
Pr.CIT Vs Krishna Devi
Having heard the parties, the Supreme Court issued notice to the respective parties directing their appearance for further hearing on the issue of LTCG.
- Notice issued: SUPREME COURT OF INDIA
2022-TIOL-39-SC-IT
National Faceless Assessment Centre Vs Mantra Industries Ltd
Having heard the parties, the Supreme Court found that the counsel for Revenue submitted that, against the assessment order, the High Court ought not to have entertained the Writ Petition and ought to have relegated the assessee to avail statutory remedy of appeal before the CIT(A). It was further submitted that one of the grounds on which the High Court has set aside the assessment order was subsection (9) of Section 144B of the Income Tax Act, which, at the relevant time, provided that any assessment made shall be non est, if such assessment was not made in accordance with the procedure laid down under the said Section. Finally, the Supreme Court issued notices to the respective parties directing their appearance for further hearing on the issue of faceless assessment.
- Notice issued: SUPREME COURT OF INDIA
2022-TIOL-38-SC-IT
Reliance Industries Ltd Vs Chief CIT
Having heard the parties, the Supreme Court refused to entertain the Special Leave Petition under Article 136 of the Constitution having regard to the provisions of Section 9(c) of the Direct Tax Vivad Se Vishwas Act, 2020.
- Assessee's SLP dismissed: SUPREME COURT OF INDIA
2022-TIOL-37-SC-IT-LB
Pr.CIT Vs Seksaria Industries Pvt Ltd
Having heard the parties, the Supreme Court accepted that while computing fair market value, the Department had added Rs.7.08 crores to what was declared by the assessee. Consequently, the tax element in respect of differential amount by way of long term capital gain tax would be less than Rs.2 crores. In the premises, there is no reason to entertain this petition.
- Revenue's SLP dismissed: SUPREME COURT OF INDIA
2022-TIOL-405-ITAT-MUM
Govindram And Company Vs ACIT
Whether AO has rightly disallowed donation when recipient of donation has confirmed that donation are taken in lieu of cash and no activity is done - YES : ITAT
- Assessee's appeal dismissed: MUMBAI ITAT
2022-TIOL-404-ITAT-CHD
Sher Singh Rana Vs Pr.CIT
Whether where liability continues to exist in books of accounts and payments are made during year under consideration, liability cannot be said to cease to exist during year under consideration – YES: ITAT
- Assessee's Appeal partly allowed: CHANDIGARH ITAT
2022-TIOL-403-ITAT-INDORE
DCIT Vs Gautamswani Enterprises
Whether when evidence indicates that addition was made on basis of both documents and their xerox copies, such addition can be sustained - NO: ITAT
- Revenue's Appeal Dismissed: INDORE ITAT |
