Direct Taxes Weekly Round-Up: 19 To 25 May 2024

Delhi High CourtAssessee Can't Be Obstructed From Availing DTVSV Act Benefits Even When Limitation Period For Appeal Hasn't Expired: Delhi High CourtCase Title: PT Bukaka Teknik Utama Versus Commissioner Of Income Tax (IT), Delhi - 2The Delhi High Court has held that the assessee can't be obstructed from availing of the benefits of the Direct Tax Vivad se Vishwas Act, 2020 (DTVSV Act) even where the time limit for an appeal has not expired.'Co-Ordinated Investigation' For Prevention Of Tax Evasion Is Good Ground For Transfer: Delhi HC Refuses To Interfere With Transfer Order U/s 127Case Title: Dollar Gulati Vs PCIT and OrsThe Delhi High Court refuses to interfere with the order of the AO passed u/s 127 where the case of the Taxpayer was centralized and transferred from Income-tax Officer (ITO), Delhi to Deputy Commissioner of Income-tax (DCIT), Central Circle, Haryana.Grant Of Section 153D Approval Can't Be Merely Ritualistic Formality, Rather It Must Reflect Appropriate Application Of Mind: Delhi High CourtCase Title: Pr. Commissioner Of Income Tax -15 Versus Shiv Kumar NayyarThe Delhi High Court has held that a grant of approval under Section 153D of the Income Tax Act, 1961, cannot be merely a ritualistic formality or rubber stamping by the authority; rather, it must reflect an appropriate application of mind.Once TPO Passed Order, AO Obliged To Pass An Assessment Order In Accordance With Section 92CA(4): Delhi High CourtCase Title: New Delhi Television Limited Versus Dispute Resolution Panel 2 & AnrThe Delhi High Court has held that once the Transfer Pricing Officer (TPO) had proceeded to pass the order of October 17, 2017, all that the AO was obliged to do was pass an assessment order in accordance with the procedure prescribed in Section 92CA(4) of the Income Tax Act.Bombay High CourtSearch U/s 132 Is Invalid If Material Considered For Authorizing Search Is Irrelevant And Unrelated: Bombay High CourtCase Title: Echjay Industries Pvt Ltd Vs Union of IndiaThe Bombay High Court recently quashed the search proceedings authorized by CBDT u/s 132(1) along with consequential notices and further actions on the ground that the material considered for authorizing the search is irrelevant and unrelated, and that “the reasons recorded, only indicates a mere pretence”.Refusal To Condone Delay In filing Revised ITR by CBDT , Filed Post-NCLT Order Is Unreasonable: Bombay High CourtCase Title: CG Power And Industrial Solutions Ltd Vs Assistant Commissioner of Income TaxThe Bombay High Court quashes the CBDT's order rejecting the application filed by CG Power and Industrial Solutions Ltd seeking condonation of delay in filing returns of income based on recast of accounts pursuant to NCLT's order.Calcutta High CourtIncome Tax Dept. Failed To Incorporate Revised CPWD Rates As Quantum Of Rent For Building: Calcutta High CourtCase Title: Principal Commissioner Of Income Tax, Asansol Versus Sri Manoj Parmar And OthersThe Calcutta High Court has held that the income tax department was delaying the matter for a prolonged period and failed to incorporate the revised Central Public Works Department (CPWD) rates as the quantum of rent for the building.Share Application Money Or Repayment Doesn't Attract Penalty Section 269SS And 269T: Calcutta High CourtCase Title: Commissioner Of Income Tax, Central-Iii, Kolkata Versus M/S. Vamshi Chemicals Ltd.The Calcutta High Court has held that if the share application money is neither a loan nor a deposit, then neither Section 269SS nor 269T of the Income Tax Act, 1961 shall apply. Consequently, no penalty, either under Section 271D or under Section 271E of the Income Tax Act, 1961, could be imposed.Orissa High CourtInformation Related To Outcome Of Tax Evasion Petition Sought Under RTI Act Can't Be Provided: Orissa High CourtCase Title: Deepak Kumar Acharya Versus Commissioner, Income Tax Dept and othersThe Orissa High Court has held that information related to the outcome of a tax evasion petition sought under the Right to Information Act cannot be provided.Allahabad High Court[Income Tax] Once Books Of Accounts Not Objected To Before Tribunal, AO Can't Disturb Gross Profit Rates Applied By Assesee: Allahabad High CourtCase Title: The Pr Commissioner Of Income Tax, Aaykar Bhawan And Another vs. The Mahabir Jute Mills Lts. Sahjanwah Gorakhpur 2024 LiveLaw (AB) 327 [INCOME TAX APPEAL No. - 35 of 2024]Citation: 2024 LiveLaw (AB) 327The Allahabad High Court has held that once the acceptance of books of accounts by the Commissioner of Income Tax (Appeals) have not been objected to by the Assessing Authority before the Income Tax Appellate Tribunal, it is not open to the Assessing Officer to disturb the gross profit rate as declared by the assessee.Punjab & Haryana High CourtAssessment Order Passed Without Conducting Search And Seizure Not Sustainable In Law: Punjab & Haryana High CourtCase Title: Misty Meadows Private Limited Versus Union of India and othersThe Punjab and Haryana High Court...

Direct Taxes Weekly Round-Up: 19 To 25 May 2024

Mariya Paliwala

Tags