Section 271DA Penalty Initiates On Joint Commissioner Notice and Must Begin Within Six Months Issue Whether penalty proceedings under Section 271DA are initiated upon the Assessing Officer’s proposal or upon the Joint Commissioner issuing a notice under Section 274. Whether there is a time limit for the Joint Commissioner to initiate Section 271DA penalty proceedings… Read More »
Cost Of Low Pressure Steam Transferred To Paper Division Cannot Be Treated As Nil For Section 80 IA Computation Issue Whether tax authorities can assign a nil cost to low-pressure steam transferred to a paper division and allocate the entire cost exclusively to electricity generation, thereby converting an eligible Section 80-IA captive power unit into… Read More »
Revenue Appeal Dismissed As Monetary Threshold Below CBDT Limits Applies Retroactively To Pending Matters Issue Whether an Income Tax Appeal filed by the Revenue before the High Court is maintainable when the disputed tax value is below the revised monetary threshold of ₹2 crores prescribed by the CBDT Circular dated 17 September 2024. Facts Appeal… Read More »
Supreme Court Dismisses Revenue SLP As Revision Under Section 263 Requires Independent Proof Of Error And Prejudice Supreme Court Dismisses Revenue SLP As Revision Under Section 263 Requires Independent Proof Of Error And Prejudice Issue Whether a revision order passed under Section 263 is valid when the tax authority fails to independently record and establish… Read More »
Inordinate Seven-Year Delay In Filing Appeal Cannot Be Condoned Merely On Counsel Ill-Health Grounds Inordinate Seven-Year Delay In Filing Appeal Cannot Be Condoned Merely On Counsel Ill-Health Grounds Issue Whether an inordinate delay of 2,415 days (nearly seven years) in filing a tax appeal under Section 260A can be condoned on grounds of counsel’s ill-health… Read More »
EDC Paid By Real Estate Developers To HUDA Does Not Attract TDS Provisions Under Section 194I Issue Whether External Development Charges (EDC) paid by a real estate developer to HUDA attract TDS under Section 194I as rent, and whether the Revenue can seek a remand to examine Section 194C when identical proceedings in the assessee’s… Read More »
AO Must Consider Section 170A Modified Return And Cannot Add Transfer Pricing Adjustments To MAT Issue Section 170A Modified Return: Whether the Assessing Officer is required to adopt a modified return filed u/s 170A post-NCLT merger scheme as the starting point for recomputing total income. Transfer Pricing Adjustments under MAT: Whether transfer pricing adjustments made… Read More »
High Court Holds Deduction Under Section 80HHC Cannot Be Reduced By Profits Allowed Under Section 80IA Issue Whether Section 80IA(9) mandates that profits allowed as a deduction under Section 80IA(1) must be reduced from business profits while computing deductions under Section 80HHC under Chapter VI-A. Facts Assessment Year: The matter pertains to Assessment Year 2002-03… Read More »
Reopening Assessment Without New Tangible Material Amounts To Invalid Change Of Opinion Reopening Assessment Without New Tangible Material Amounts To Invalid Change Of Opinion Issue Whether reopening an assessment under Section 147 based on an Investigation Wing report is legally sustainable when no new tangible material was discovered and the original assessment under Section 143(3)… Read More »
Unexplained Capital Introduced By Partners Cannot Be Added As Cash Credit Under Section 68 In Hands Of Partnership Firm Unexplained Capital Introduced By Partners Cannot Be Added As Cash Credit Under Section 68 In Hands Of Partnership Firm Issue Whether an addition under Section 68 for unexplained cash credit can be made in the hands… Read More »