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HC was not right in holding that by the notification/ impugned order, the penal provisions were made applicable retrospectively. Observations made are only for the purpose of examining correctness of interim order & HC should be uninfluenced by the same.
UNION OF INDIA AND ORS. Vs GAUTAM KHAITAN
(2019) TaxCorp(LJ) 20263 (SC)
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Sec. 43CA (which deems stamp valuation as sales consideration for land and building held as stock in trade) was inserted w.e.f 1.4.2014 and was not applicable for subject AY. In absence of any such statutory provisions giving rise to the deeming fiction, Revenue cannot tax any amount which has not been received by a seller of an immovable property at the time of sale.
ZAIN CONSTRUCTIONS Vs THE INCOME TAX OFFICER 18(3)(5) & ORS.
(2019) TaxCorp(LJ) 20231 (SC) · Section 43CA
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A concession given by Counsel, if it is a concession in law and contrary to the statutory rules, is not binding on the litigant for the reason that there cannot be any estoppel against law (see also Himalayan Cooperative Group Housing Society Vs. Balwan Singh (2015) 7 SCC 373 Bharat Heavy Electricals Ltd vs. Mahendra Prasad Jakhmola & V. Ramesh vs. ACIT (Madras High Court)
Directorate of Elementary Education vs. Pramod Kumar Sahoo
(2019) TaxCorp(LJ) 20195 (SC)
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Merely because in the later year, the Assessing Officer takes a different view on the basis of similar material, which may have been collected during such process, would not permit him to reopen the assessment.
THE DEPUTY COMMISSIONER OF INCOME TAX INTERNATIONAL Vs PRECILION HOLDINGS LIMITED
(2019) TaxCorp(LJ) 20174 (SC)
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So far as supporting manufacturers are concerned, under Section 80HHC(1A), where any Export House or Trading House has issued a certificate that the supporting manufacturer has, in fact, supplied such goods or merchandise for export, they shall also be allowed a deduction to the extent of profits referred to derived by the assessee from the sale of goods or merchandise to the Export House or Trading House.
COMMISSIONER OF INCOME TAX, KARNAL (HARYANA) VERSUS M/S CARPET INDIA
(2019) TaxCorp(LJ) 20107 (SC) · https://taxcorp.in/FileOpenDT.aspx?ID=79937&Category=Judgment&CategoryType=Zip
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It will be open for assessees to show, by adducing the necessary facts, that they are direct exporters as well and can therefore avail deduction u/s. 80HHC (1) read with (3).
COMMISSIONER OF INCOME TAX Vs M/S CARPET INDIA
(2019) TaxCorp(LJ) 20047 (SC) · Section 80HHC
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We have perused the review petition and find that the tax effect in this case is above ₹ 1 crore, that is, ₹ 6,59,27,298/-. Ordinarily, therefore, we would have recalled our order dated 17th September, 2018, since the order was passed only on the basis that the tax effect in this case is less than ₹ 1 crore. We find that on merits a disallowance of ₹ 19,39,60,866/- was based solely on third party information, which was not subjected to any further scrutiny.
COMMISSIONER OF INCOME TAX-7, NEW DELHI VERSUS M/S ODEON BUILDERS PVT. LTD.
(2019) TaxCorp(LJ) 19926 (SC) · https://taxcorp.in/FileOpenDT.aspx?ID=79697&Category=Judgment&CategoryType=Zip
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Department's SLPs citing low tax effect is dismissed, applies CBDT's recent circular which had enhanced the monetary limits for filing Departmental appeals before SC to Rs. 2 cr.
MSEB HOLDING COMPANY LTD Vs DY. COMMISSIONER OF INCOME TAX
(2019) TaxCorp(LJ) 19898 (SC)
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The primary facts relating to scheme of demerger of assets from its parent (transferor) and subsequent transfer to Indus Infrastructure Ltd., were within the knowledge of AO when he had passed the original assessment order.
PR. COMMISSIONER OF INCOME TAX 2 & ANR. Vs BHARTI INFRATEL LIMITED
(2019) TaxCorp(LJ) 19871 (SC)
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Though the law on applicability of the requirement of notice u/s. 143(2) was quite clear from SC decision in Blue Moon's case, however, in the present case what needs to be considered is the impact of Section 292BB.
LAXMAN DAS KHANDELWAL Vs COMMISSIONER OF INCOME TAX
(2019) TaxCorp(LJ) 19859 (SC) · Sections 143(2), 292BB
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S. 92CA(1) Transfer Pricing: CBDT's Instruction No.3/2003 dated 20.05.2003 makes it mandatory for the AO to make a reference to the TPO. The failure to make reference to the TPO renders the Transfer Pricing Adjustments made therein are bad in law though the assessment order is good. The matter should be restored to the file of the AO so that appropriate reference could be made to the TPO
PCIT vs. S. G. Asia Holding (I) Pvt. Ltd
(2019) TaxCorp(LJ) 19857 (SC) · Section 92CA(1)
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S. 143(2)/ 292BB: The failure to issue a notice u/s 143(2) renders the assessment order void even if the assessee has participated in the proceedings. S. 292BB does not save complete absence of notice. For S. 292BB to apply, the notice must have emanated from the department. It is only the infirmities in the manner of service of notice that the Section seeks to cure. The Section is not intended to cure complete absence of notice itself
CIT vs. Laxman Das Khandelwal
(2019) TaxCorp(LJ) 19856 (SC) · Sections 143(2), 292BB
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The law on the point as regards applicability of the requirement of notice u/s 143(2) is quite clear from the decision in Blue Moon’s case. The issue that however needs to be considered is the impact of Section 292BB. According to Section 292BB, if the assessee had participated in the proceedings, by way of legal fiction, notice would be deemed to be valid even if there be infractions as detailed in said Section.
COMMISSIONER OF INCOME TAX VERSUS LAXMAN DAS KHANDELWAL
(2019) TaxCorp(LJ) 19851 (SC) · https://taxcorp.in/FileOpenDT.aspx?ID=79555&Category=Judgment&CategoryType=Zip
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In view of the guidelines issued by the CBDT in Instruction No.3/2003 the Tribunal was right in observing that by not making reference to the TPO, the AO had breached the mandatory instructions issued by the CBDT. We do not find the conclusion so arrived at by the Tribunal to be incorrect.
THE PRINCIPAL COMMISSIONER OF INCOME TAX-4, MUMBAI VERSUS M/S. S.G. ASIA HOLDINGS (INDIA) PVT. LTD.
(2019) TaxCorp(LJ) 19850 (SC) · https://taxcorp.in/FileOpenDT.aspx?ID=79556&Category=Judgment&CategoryType=Zip
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Revenue's SLP challenging Bombay HC order quashing re-assessment notice (initiated beyond 4 years) issued on assessee (an asset reconstruction and securitization company) for AY 2011-12 is dismissed.
Asset Reconstruction Company India Pvt. Ltd Vs Deputy Commissioner Of Income Tax & Ors.
(2019) TaxCorp(LJ) 19827 (SC)
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The amount received by assessee on sale of prepaid cards to the extent of unutilized talk time did not accrue as income in the year of sale.
SHYAM TELELINK LTD Vs COMMISSIONER OF INCOME TAX-III
(2019) TaxCorp(LJ) 19799 (SC)
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Disallowance made u/s. 40(a)(ia) would not affect the assessee's liability to tax as even if the amount are disallowed and added to assessee's income, the same would be exempted u/s. 10A.
BMC SOFTWARE INDIA PVT. LTD Vs PR. COMMISSIONER OF INCOME TAX-1
(2019) TaxCorp(LJ) 19778 (SC) · Sections 10A, 40(a)(ia)
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These findings have been recorded in conformity with the requirements of Section 269UD(1) of the Act and hence deserve to be upheld.
Krishna Kumar Rawat & Ors Vs Union of India & Ors.
(2019) TaxCorp(LJ) 19776 (SC)
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Taxation regime applicable to non-residents need not be identical to that applicable to residents.
Rajan Bhatia Vs Central Board of Direct Taxes Through Chairman & Anr
(2019) TaxCorp(LJ) 19775 (SC) · Section 115BBDA
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S. 35AC(7) is prospective in nature. A plea of promissory estoppel is not available to an assessee against the exercise of legislative power nor any vested right accrues to an assessee in the matter of grant of any tax concession to him. In a taxing statute, a plea based on equity or/and hardship is not legally sustainable. The constitutional validity of any provision and especially taxing provision cannot be struck down on such reasoning. In tax matters, neither any equity nor hardship has any role to play while deciding the rights of any taxpayer qua the Revenue
Prashanti Medical Services & Research Foundation vs. UOI
(2019) TaxCorp(LJ) 19759 (SC) · Section 35AC(7)
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