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S. 147/148: If the AO reopens the assessment on the incorrect premise that the assessee has not filed a return, the reopening is invalid. The fact that the AO may be justified in the view that income has escaped assessment owing to the capital gains not being computed u/s 50C cannot save the reopening is the reasons do not refer to s. 50C
Mumtaz Haji Mohmad Memon vs. ITO
(2018) TaxCorp(LJ) 15822 (HC-GUJARAT) · Sections 147, 148
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HC - Transfer of trademark with itself would transfer not only the emblem or figure, but also the reputation of business and therefore a separate deed for transferring goodwill, would make no difference. Capital gains addition on undervalued goodwill deleted.
CIT. Vs. Bisleri International Ltd.
(2018) TaxCorp(LJ) 15268 (HC-GUJARAT)
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S. 68: Addition of undisclosed income cannot be made on the basis of (a) entries in dairy found during survey & (b) admission of director in s. 133A survey if assessee has filed a retraction and alleged that the entries/ statement were recorded under pressure. A s. 133A statement is merely information simplicitor and not evidence per se. Addition cannot be sustained if the Dept has not investigated the matter and find material to support the addition
PCIT. vs. Texraj Realty P. Ltd.
(2018) TaxCorp(LJ) 15207 (HC-GUJARAT) · Section. 68
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S. 147: Even a s. 143(1) assessment cannot be reopened without proper 'reason to believe'. If the reasons state that the information received from the VAT Dept that the assessee entered into bogus purchases "needed deep verification", it means the AO is reopening for doing a 'fishing or roving inquiry' without proper reason to believe, which is not permissible
PCIT. Vs. Manzil Dineshkumar Shah
(2018) TaxCorp(LJ) 15044 (HC-GUJARAT) · Section. 147
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S. 9/ 40(a)(i)/ 195: Explanation 2 to s. 195(1) inserted by Finance Act 2012 with retrospective effect from 01.04.1962 has bearing while ascertaining payments made to non-residents is taxable under the Act or not. However, it does not change the fundamental principle that there is an obligation to deduct TDS only if the sum is chargeable to tax under the Act. If the conclusion is arrived that such payment does not entail tax liability of the payee under the Act, s. 195(1) does not apply
PCIT. vs. Nova Technocast Pvt. Ltd.
(2018) TaxCorp(LJ) 15026 (HC-GUJARAT) · Sections. 9, 40(a)(i), 195
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Section. 92CB
Mehsana District Co-operative vs. DCIT
(2018) TaxCorp(LJ) 14890 (HC-GUJARAT) · S. 92CB Transfer Pricing Safe Harbour Rules: If the assessee has exercised the safe harbour option under Rule 10THD(1) & the AO has not passed any order under rule 10THD(4) declaring the exercising of option to be invalid, the option is treated as valid. Thereafter, the Transfer Pricing regime does not apply & the AO has no authority to make any reference to the TPO to ascertain the arm's length price of the assessee's specified domestic transactions. CBDT's circular dated 10.3.2006 could not have and does not lay down anything to the contrary
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HC - Unless the delay is gross or intentional or arising out of inaction and lethargy on the part of the assessee, TDS mistakenly deposited cannot be retained by the Government solely on the ground of delay.
Multibase India Ltd. Vs. ITO
(2018) TaxCorp(LJ) 14636 (HC-GUJARAT)
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HC - Writ allowed - Re-assessment initiated beyond 4 years in absence of failure to disclose full and true material facts quashed.
Gujarat Enviro Protection and Infrastructure Vs. DCIT
(2018) TaxCorp(LJ) 14423 (HC-GUJARAT)
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Strictures passed against the CBDT for seeking to take advantage of its own wrong and disregarding genuine hardship of taxpayers. Due date for filing ROI extended to 30.11.2014 subject to charge of s. 234A interest
All Gujarat Federation of Tax Consultants vs. CBDT
(2018) TaxCorp(LJ) 14270 (HC-GUJARAT) · Section 234A
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HC - No penalty u/s 271AAA where sufficient compliance with the provision if tax is shown to have been paid before the assessment was completed.
Pr. Commissioner of Income Tax, Surat-2 Versus M/s Swapna Enterprise
(2018) TaxCorp(LJ) 14256 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=70895&Category=Judgment&CategoryType=Zip
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HC - The minimum number of units, namely 30 have been located, the Park becomes eligible to opt for the benefit under Section 80IA.
Devraj Infrastuctures Ltd. Versus Chairman/Member (Industrial Park)
(2017) TaxCorp(LJ) 13799 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=70292&Category=Judgment&CategoryType=Zip
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HC - Sec.80-IA benefit available once minimum number of units in accordance with the Industrial Park Scheme, 2008 located in industrial park. Commencement certificate is irrelevant.
Devraj Infrastuctures Ltd. Vs. CHAIRMAN/MEMBER(INDUSTRIAL PARK)
(2017) TaxCorp(LJ) 13791 (HC-GUJARAT) · Section. 80-IA
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HC - No addition can be made solely on the basis of a retracted statement made during the survey operation, more so, when proper justification for retraction was also offered.
Pr. Commisisoner of Income Tax-2 Versus Parshwa Enterprises
(2017) TaxCorp(LJ) 13775 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=70244&Category=Judgment&CategoryType=Zip
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HC - Deduction u/s 80IA(4) allowable to developer even though assessee assignied the task of maintenance and toll collection of the road to third party after completion of construction work.
PR. COMMISSIONER OF INCOME TAX Vs NILA BAURAT ENGINEERING LTD
(2017) TaxCorp(LJ) 13735 (HC-GUJARAT) · Section 80IA(4)
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HC - Tax Planning - Redemption of Early SPN is a clever but permissible tax planning tool therefore, interest cannot be disallowed deductible u/s. 36(1)(iii).
M/S. NIRMA LTD Vs ASSISTANT COMMISSIONER OF INCOME TAX
(2017) TaxCorp(LJ) 13734 (HC-GUJARAT) · Section 36(1)(iii)
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HC - If the disallowance was on the dispute of the machinery not having been installed during the year under consideration, such depreciation would always be available to the assessee in the later years. Since there was consistent loss offered by the assessee, this shifting of the depreciation to a later year would have no impact on its tax.
Pr. Commissioner of Income Tax - Vadodara -1 Versus Gujarat Electricity Board
(2017) TaxCorp(LJ) 13656 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=70033&Category=Judgment&CategoryType=Zip
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HC - No TDS u/s 194C or 194J for payments of demat charges and other charges levied by NSDL and CDSL since such charges were in the nature of recovery of cost or expenses at large and not for providing any professional or technical service.
Principal Commisisoner of Income Tax-1 Versus Shah Investors Home Ltd.
(2017) TaxCorp(LJ) 13655 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=70032&Category=Judgment&CategoryType=Zip
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HC - It would be wholly inequitable for the AO to merely sit over the petitioner's request for refund citing the availability of time upto the last date of framing the assessment under sub-section (3) of section 143. AO directed to complete the assessment latest by 31.10.2017.
Corrtech International Pvt. Ltd. Versus Deputy Commissioner of Income-Tax
(2017) TaxCorp(LJ) 13654 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=70031&Category=Judgment&CategoryType=Zip
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HC - Writ dismissed - Transfer of case u/s 127 to facilitate co-ordinated investigation in search and seizure cases involving group companies, is valid.
Sarjoo Sahkari Chini Mills Vs. CIT
(2017) TaxCorp(LJ) 13638 (HC-GUJARAT) · Section. 127
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HC - Revenue cannot contend that even though no intimation under sub-section (1) of section 143 was issued within the time envisaged and no notice under sub-section (2) of section 143 was issued, the Assessing Officer can sit tight over the refund claimed by the assessee arising out of the return filed.
Corrtech International Pvt. Ltd. vs. DCIT
(2017) TaxCorp(LJ) 13635 (HC-GUJARAT)
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