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Supreme Court – DIRECT TAX WEEKLY FLASHBACK
Today, 291 cases were filed by the income tax dept. where the tax effect is less than 5 crores are listed before the Supreme Court for the final disposal.
Supreme Court Disposed Of 573 Direct Tax Cases Where Tax Effect Is Less Than Rs. 5 Crore
The Supreme Court today disposed off 573 direct tax cases where the tax effect is less than ₹5 crore, in view of the revised monetary limit of filing of appeals.
Delhi High Court
Case title: The Pr. Commissioner Of Income Tax V/S Mahle Filters Systems (India) Ltd.
The Delhi High Court while upholding the ruling of the Income Tax Appellate Tribunal (ITAT) has directed the Assessing Officer (AO) to tax rental income under ‘income from house property’.
AO Can’t Reopen Income Tax Assessment If PCIT Decides In Favour Of Assessee: Delhi High Court
Case Title: Chandra Global Finance Ltd V/S ITO Ward 6(1) New Delhi & Anr
The Delhi High Court had held that once the Principal Commissioner Of Income Tax (PCIT) has decided in favour of the assessee after having considered its reply, AO had no authority to reassess and reopen the assessment under Section 148 of the Income Tax Act.
Case Title: International Hospital Limited Versus DCIT
The Delhi High Court has quashed reassessment action initiated by the income tax department on grounds of amalgamated entities having never been placed on notice.
Case Title: ARN Infrastructures India Limited Versus Assistant Commissioner Of Income Tax
The Delhi High Court has held that the Supreme Court’s Decision in Abhisar Buildwell Case not Carte Blanche (complete freedom to act as one wishes) enabled the department to overcome restrictions for reopening assessment.
Bombay High Court – DIRECT TAX WEEKLY FLASHBACK
S. 264 Revisionary Power Bridges Vacuum To Remedy Bona Fide Mistake: Bombay High Court
Case Title: Bahar Infocons Pvt. Ltd. v/s Principal Commissioner of Income Tax, Mumbai-2 & Ors.
The Bombay High Court has held that Section 264 of the Income Tax Act is a salutary provision which also bridges the gap and / or removes vacuum to remedy a bona fide mistake and for correction of an inadvertent situation, which may take place in the assessment proceedings.
Karnataka High Court
Case Title: Massood Gulam Versus ITO
The Karnataka High Court has quashed the income tax reassessment notice issued under Section 148A of the Income Tax Act which prescribed the period of 6 days to the assessee to show cause why the reassessment proceedings should not be initiated.
Case Title: Mavenir Systems Private Limited Versus Assessment Unit
The Karnataka High Court has held that the Dispute Resolution Panel (DRP) ought to have waited till disposal of the rectification application before passing final Assessment Order.
Punjab & Haryana High Court
Case title: M/s Micromation Pvt. Ltd. V/S Commissioner of Income Tax
The Punjab and Haryana High Court has held that deduction section 80-I under Income Tax Act benefit available upon conversion of proprietorship concern to private limited company.
Case Title: The Commissioner Of Income Tax, Patiala Versus Yadvindra Public School Association, Patiala
The Punjab & Haryana High Court has held that educational trust utilising earnings for educational advancement cannot be denied registration Section 12AA of the Income Tax Act.
