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Attachment of property under Schedule II: Unless there is preference given to the Crown debt by a statute, the dues of a secured creditor have preference over Crown debts. As a charge over the property was created much prior to the notice issued by the TRO under Rule 2 of Schedule II to the Act and the sale of the property was pursuant to the order passed by the DRT, the sale is valid
Connectwell Industries Pvt. Ltd vs. UOI
(2020) TaxCorp(LJ) 22237 (SC)
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On the issue whether communication dated 22.03.2018 was in the nature of determination of the liability, both the learned counsel were heard at considerable length, at the end of which it was agreed by Mr. Zoheb Hossain, learned Advocate for the Department, that the communication dated 22.03.2018 could be treated as a show cause notice and the Department be permitted to conclude the issue within a reasonable time, provided the interim order passed by the Single Judge of the High Court on 03.04.2018 was continued.
COGNIZANT TECHNOLOGY SOLUTIONS INDIA PVT. LIMITED VERSUS DEPUTY COMMISSIONER OF INCOME TAX LARGE TAX PAYER -UNIT -1
(2020) TaxCorp(LJ) 21214 (SC) · https://taxcorp.in/FileOpenDT.aspx?ID=82629&Category=Judgment&CategoryType=Zip
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As the charge over the property was created much prior to the issuance of notice under Rule 2 of Schedule II to the Act by Respondent No.4 (TRO), we find force in the submissions made on behalf of the Appellant., directs MIDC to issue 'no objection' certificate to the appellant.
Connectwell Industries Pvt. Ltd Vs Union of India
(2020) TaxCorp(LJ) 21202 (SC)
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S. 153C: Compliance with the requirements of s. 153C is mandatory. (i) If the AO of the searched person is different from the AO of the other person, the AO of the searched person is required to transmit the satisfaction note & seized documents to the AO of the other person. He is also required to make a note in the file of the searched person that he has done so. However, the same is for administrative convenience and the failure by the AO of the searched person to make a note in the file of the searched person, will not vitiate the proceedings u/s 153C. (ii) If the AO of the searched person and the other person is the same, it is sufficient for the AO to note in the satisfaction note that the documents seized from the searched person belonged to the other person. Once the note says so, the requirement of s. 153C is fulfilled. In such case, there can be one satisfaction note prepared by the AO, as he himself is the AO of the searched person and also the AO of the other person. However, he must be conscious and satisfied that the documents seized/recovered from the searched person belonged to the other person. In such a situation, the satisfaction note would be qua the other person. The requirement of transmitting the documents so seized from the searched person would not be there as he himself will be the AO of the searched person and the other person and therefore there is no question of transmitting such seized documents to himself
Super Malls Private Limited vs. PCIT
(2020) TaxCorp(LJ) 21197 (SC) · Section 153C
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S. 80-IA(4): As per s. 575 of the Companies Act, the conversion of a partnership firm into a company under Part IX causes a statutory vesting of all assets of the firm into the company without the need for a conveyance. The business of the firm is carried on by the company and the latter is eligible for the benefits of s. 80-IA.
CIT vs. Chetak Enterprises Pvt. Ltd
(2020) TaxCorp(LJ) 21195 (SC) · Section 80-IA(4)
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S. 12AA: Registration can be applied for by a newly registered trust. There is no stipulation that the trust should have already been in existence and should have undertaken any activities before making the application for registration. The term ‘activities’ in s. 12AA includes ‘proposed activities’. The CIT must consider whether the objects of the Trust are genuinely charitable in nature and whether the activities which the Trust proposed to carry on are genuine in the sense that they are in line with the objects of the Trust. However, he cannot refuse registration on the ground that no activities are carried out
M/s Ananda Social And Educational Trust vs. CIT
(2020) TaxCorp(LJ) 21194 (SC) · Section 12AA
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Where the AO of the searched person and the other person is the same, there can be one satisfaction note prepared by the AO.
M/S SUPER MALLS PRIVATE LIMITED Vs PRINCIPAL COMMISSIONER OF INCOME TAX
(2020) TaxCorp(LJ) 21187 (SC)
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As priori, it must follow that the business is carried on by the enterprise owned by a company registered in India and the agreement entered into between the erstwhile partnership firm and the State Government, by legal implication, assumes the character of an agreement between the company registered in India and the State Government.
Commissioner of Income Tax Vs M/s. Chetak Enterprises Pvt. Ltd.
(2020) TaxCorp(LJ) 21186 (SC) · Section 80IA
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The petitioner is allowed liberty to withdraw the present special leave petition, with further liberty to approach the authority under the Scheme.
INTEC Corporation Vs PRINCIPAL COMMISSIONER OF INCOME TAX II
(2020) TaxCorp(LJ) 21172 (SC)
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The amount of Rs.495.24 crores deposited towards payment of tax and the amount of Rs.2806.40 crores which stands deposited and invested in the form of Fixed Deposit Receipts shall be subject to the decision to be taken by the concerned Authority on merits or to such directions as may be issued by the Appellate Authority.
Cognizant Technology Solutions India Pvt. Limited Vs Deputy Commissioner of Income Tax
(2020) TaxCorp(LJ) 21163 (SC)
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A Commissioner is bound to consider whether the objects of the Trust are genuinely charitable in nature and whether the activities which the Trust proposed to carry on are genuine in the sense that they are in line with the objects of the Trust.
Ananda Social And Educational Trust Vs The Commissioner of Income Tax & Anr.
(2020) TaxCorp(LJ) 21135 (SC) · Section 12AA
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Since the issue stands concluded in favour of the assessee there would be no need to continue with the reassessment on that score.
M/S SHIV SHAKTI FLOUR MILLS (P) LTD. Vs COMMISSIONER OF INCOME TAX
(2020) TaxCorp(LJ) 21120 (SC)
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The High Court ought not to have dismissed the petition on the ground of delay, it would be appropriate and proper, in the interests of justice, for the writ petition to be heard on merits by the High Court, subject to payment of costs, which would be a condition precedent.
Principal Commissioner of Income Tax Central 4 Vs Income Tax Settlement Commission & Anr
(2020) TaxCorp(LJ) 21078 (SC)
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The term possession in Sec. 53A of TOPA is a legal concept which denotes control over the land and not actual physical occupation of the land.
M/S SESHASAYEE STEELS P. LTD. Vs ASSISTANT COMMISSIONER OF INCOME TAX
(2020) TaxCorp(LJ) 21054 (SC) · Section 2(47)(v)
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U/s 43B(a), deduction is allowed on “any sum payable by the assessee by way of tax, duty, cess or fee.” The scheme of s. 43B is to allow deduction when the sum is actually paid. (i) The credit of Excise Duty earned under MODVAT scheme is not sum payable by the assessee by way of tax, duty, cess. It is merely the incident of Excise Duty that has shifted from the manufacturer to the purchaser and not the liability to the same. Consequently, the unutilised credit under MODVAT scheme does not qualify for deduction u/s 43B. (ii) The sales tax paid by the appellant was debited to a separate account titled ‘Sales Tax recoverable account’ and is liable for disallowance u/s 43B.
Maruti Suzuki India Ltd vs. CIT
(2020) TaxCorp(LJ) 21045 (SC) · Section 43B(a)
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S. 68 Bogus share capital/ premium: Application seeking open court oral hearing is rejected. There is no substance in the Review Petition seeking review of PCIT vs. NRA Iron & Steel Pvt. Ltd (2019) 412 ITR 161 (SC) and the same is dismissed
NRA Iron & Steel Pvt. Ltd vs. PCIT
(2020) TaxCorp(LJ) 21018 (SC) · Section 68
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Direction for refund was applicable if no notice would be issued within the time stipulated. In any case, the learned judges had the option to treat the writ petition as an execution application or could have given liberty to the appellant to file an execution application which as per the law of limitation can be filed within 12 years. This aspect has been completely over-looked and not been given due consideration.
KISHORE JAGJIVANDAS TANNA VERSUS JOINT DIRECTOR OF INCOME TAX (INV.) & ANR.
(2020) TaxCorp(LJ) 21003 (SC) · https://taxcorp.in/FileOpenDT.aspx?ID=82060&Category=Judgment&CategoryType=Zip
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Condonation of delay: There are large gaps which are unexplained. It is not known whether any action was taken against the officers who are responsible for the inordinate delay. The highest Court cannot be a walk in place to file any time irrespective of period of limitation prescribed. To blame it on the inefficiency of the administration is no more good excuse. Administration directed to hold an inquiry into the aspect as to who is responsible for such inordinate delay and take suitable action against the officers concerned (Post Master General vs. Living Media (2012) 3 SCC 563 referred)
Administrator vs. Swarn Theater
(2020) TaxCorp(LJ) 20999 (SC)
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The proviso to Section 43B provides that nothing contained in the Section shall apply in relation to any sum which is actually paid by assessee on or before due date applicable in his case for furnishing the return in respect of the previous year in which the liability to pay such sum was incurred. The crucial words in the proviso to Section 43B are in respect of the previous year in which the liability to pay such sum was incurred.
MARUTI SUZUKI INDIA LTD. (EARLIER KNOWN AS MARUTI UDYOG LTD.) VERSUS COMMISSIONER OF INCOME TAX, DELHI
(2020) TaxCorp(LJ) 20990 (SC) · https://taxcorp.in/FileOpenDT.aspx?ID=82045&Category=Judgment&CategoryType=Zip
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The credit of Excise Duty earned by the appellant under MODVAT scheme as per Central Excise Rules, 1944 is not sum payable by the assessee by way of tax, duty, cess.
MARUTI SUZUKI INDIA LTD. Vs COMMISSIONER OF INCOME TAX
(2020) TaxCorp(LJ) 20989 (SC) · Section 43B
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