Direct Tax landmark rulings

1. Delhi High Court · 18 Oct 2023
   HC - Delhi HC Overturns Assessment Order: Highlights Importance of Draft Order Procedures.

   Sinogas Management Pte Ltd Vs DEPUTY COMMISSIONER OF INCOME TAX & ANR.

   (2023) TaxCorp(LJ) 32563 (HC-DELHI) · Section 144C

2. ITAT DC · 17 Oct 2023
   ACMM court - Gautam Khaitan Discharged from Tax-Evasion Charges: Income Assessed under BMA Not Liable for Reassessment under ITA.

   Gautam Khaitan Vs INCOME TAX OFFICE

   (2023) TaxCorp(LJ) 32561 (ITAT-DC)

3. ITAT Mumbai · 17 Oct 2023
   ITAT - Mumbai ITAT Rules: No Survivability for Section 143(1) Adjustments Absent Corresponding Assessment Additions.

   National Stock Exchange of India Limited Vs DCIT

   (2023) TaxCorp(LJ) 32554 (ITAT-MUMBAI) · Section 143(1)

4. ITAT Delhi · 17 Oct 2023
   ITAT - Delhi ITAT Provides Relief to Mauritian Entity: Stays Rs.101 Cr. Demand with 20% Bank Guarantee.

   AEP Investments (Mauritius) Ltd Vs ACIT

   (2023) TaxCorp(LJ) 32553 (ITAT-DELHI)

5. ITAT Delhi · 17 Oct 2023
   ITAT - Delhi Tribunal Dismisses Appeal: Company's Cash Transactions Contravene Sections 269SS & 269T; Directors' Ignorance No Excuse.

   M/S. SOFITRA IMPEX (P) LTD. VERSUS ACIT, RANGE-9 NEW DELHI

   (2023) TaxCorp(LJ) 32552 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=107756&Category=ITAT&CategoryType=Zip

6. ITAT Mumbai · 16 Oct 2023
   ITAT - Mumbai ITAT Backs Assessee: Non-disclosure of Interest on Tax-refund in ITR is 'Bona Fide'; Negates Sec.270A Penalty.

   Kavita Jasjit Singh Vs Commissioner of Income Tax (Appeals)

   (2023) TaxCorp(LJ) 32546 (ITAT-MUMBAI) · Section 270A

7. Allahabad High Court · 14 Oct 2023
   HC - Allahabad HC Upholds Reassessment Proceedings: Cites SC's Anshul Jain Verdict as Precedent.

   Vivek Saran Agarwal Vs Union Of India And 3 Others

   (2023) TaxCorp(LJ) 32537 (HC-ALLAHABAD)

8. Delhi High Court · 14 Oct 2023
   HC - Delhi HC Pushes Revenue for Quick Refunds: Exchequer's Growing Burden Under Spotlight.

   AON Consulting Private Limited Vs DEPUTY COMMISSIONER OF INCOME TAX

   (2023) TaxCorp(LJ) 32536 (HC-DELHI)

9. Madras High Court · 14 Oct 2023
   HC - Madras HC Dismisses Appeal Due to 1072 Days' Delay: Assessee's 'Rip Van Winkle' Attitude Not Countenanced.

   Royal Stitches P Ltd Vs The Deputy Commissioner of Income Tax

   (2023) TaxCorp(LJ) 32535 (HC-MADRAS)

10. ITAT Chennai · 14 Oct 2023
    ITAT - Chennai ITAT Classifies Investment Promotion Subsidy as Capital Receipt: Landmark Decision Sets Precedent for Manufacturers.

    Hyundai Motor India Limited Vs The Asst. Commissioner of Income Tax

    (2023) TaxCorp(LJ) 32533 (ITAT-CHENNAI)

11. ITAT Chandigarh · 13 Oct 2023
    ITAT - Chandigarh ITAT Upholds Assessee's Right to Choose Valuation Method; Sets Precedent on Loan-to-Equity Conversions.

    I.A. Hydro Energy Pvt. Ltd Vs The ACIT

    (2023) TaxCorp(LJ) 32526 (ITAT-CHANDIGARH) · Section 56(2)(viib)

12. Gujarat High Court · 13 Oct 2023
    HC - Right-Shares Allotment Not Taxable Under Sec.56(2)(vii)(c): Gujarat HC Clarifies Distinction Between Creation and Transfer.

    Jigar Jashwantlal Shah Vs THE PRINCIPAL COMMISSIONER OF INCOME TAX 1

    (2023) TaxCorp(LJ) 32525 (HC-GUJARAT) · Section 56(2)(vii)(c)

13. ITAT Hyderabad · 13 Oct 2023
    ITAT - Hyderabad Tribunal Upholds SBI Short-Term Rate for TP Adjustments, Dismisses Appeal for Applying LIBOR + 200 Basis Points.

    HM CLAUSE INDIA PRIVATE LIMITED VERSUS DCIT, CIRCLE-2 (1) , HYDERABAD.

    (2023) TaxCorp(LJ) 32523 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=107645&Category=ITAT&CategoryType=Zip

14. ITAT Delhi · 13 Oct 2023
    ITAT - Delhi Tribunal Allows Assessee's Appeal, Holds Receipts Not Taxable as FTS Under India-Portugal DTAA Provisions.

    ALUMINIUM PECHINEY, C/O- CA, PRAVEEN GAMBHIR VERSUS DCIT, CIRCLE-1 (1) (1) , INTERNATIONAL TAXATION, NEW DELHI

    (2023) TaxCorp(LJ) 32522 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=107646&Category=ITAT&CategoryType=Zip

15. ITAT Raipur · 13 Oct 2023
    ITAT - Raipur Tribunal Annuls Addition Based on Retracted Statement, Emphasizing the Need for Credible Evidence in Reassessment Cases.

    THE ASSISTANT COMMISSIONER OF INCOME TAX (CENTRAL) , BILASPUR VERSUS M/S. JAGANNATHDAS HARICHANDMAL JEWELLERS PVT. LTD.

    (2023) TaxCorp(LJ) 32521 (ITAT-RAIPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=107648&Category=ITAT&CategoryType=Zip

16. Delhi High Court · 12 Oct 2023
    HC - Delhi High Court Sides with Assessee, Dismisses Revenue's Allegations of Financial Missteps Involving Mauritian Entity.

    Azure Retreat Pvt Ltd Vs PR. COMMISSIONER OF INCOME TAX

    (2023) TaxCorp(LJ) 32517 (HC-DELHI) · Section 68

17. AP High Court · 12 Oct 2023
    HC - Unpaid Tax Attracts Interest from Original Demand Notice, AP High Court Affirms.

    A.S. Krishna And Company Private Limited Vs DCIT

    (2023) TaxCorp(LJ) 32516 (HC-AP) · Section 220(2)

18. ITAT Pune · 12 Oct 2023
    ITAT - Pune ITAT Validates the Use of Project Completion Method by a Real-Estate Developer, Rebuffing Revenue’s Proposition for Percentage Completion Method.

    S.S. Group, 9, Siddhivinayak Vs ACIT

    (2023) TaxCorp(LJ) 32515 (ITAT-PUNE)

19. Allahabad High Court · 12 Oct 2023
    HC - Allahabad HC Overturns ITAT’s Dismissal of Recall Application, Citing Misplacement of Section 254(2) Limitation Period Invocation; Directs Reconsideration Under Rule 24.

    Purnagiri Rice Mill Vs Union Of India

    (2023) TaxCorp(LJ) 32514 (HC-ALLAHABAD) · Section 254(2)

20. ITAT Kolkata · 12 Oct 2023
    ITAT - Kolkata Tribunal Rejects Revision u/s 263, Validates AO's Decisions.

    IMC LIMITED VERSUS PRINCIPAL COMMISSIONER OF INCOME TAX-4, KOLKATA

    (2023) TaxCorp(LJ) 32513 (ITAT-KOLKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=107600&Category=ITAT&CategoryType=Zip

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