Tax Cases Weekly Round-Up: 3 To 9 December, 2023
Mariya Paliwala
10 Dec 2023 8:56 AM IST
Supreme CourtIncome Tax Act | To Compute Deduction Under S. 80-IA, Market Value Of Electricity Is The Rate At Which State Board Supplies Power : Supreme CourtCase Title: Commissioner Of Income Tax v M/s Jindal Steel & Power LimitedCitation: 2023 LiveLaw (SC) 1048The Supreme Court has held that for the purpose of computing deduction under Section 80 IA of the Income Tax Act, 1961, the rate...
Supreme Court
Income Tax Act | To Compute Deduction Under S. 80-IA, Market Value Of Electricity Is The Rate At Which State Board Supplies Power : Supreme Court
Case Title: Commissioner Of Income Tax v M/s Jindal Steel & Power Limited
Citation: 2023 LiveLaw (SC) 1048
The Supreme Court has held that for the purpose of computing deduction under Section 80 IA of the Income Tax Act, 1961, the rate at which the State Electricity Board supplies power to the consumers has to be taken as the market value of electricity.
Delhi High Court
Case Title: PCIT Versus M/S Inductis India Pvt. Ltd.
The Delhi High Court has held that the assessee was a debt-free company and there was no need to impute notional interest on outstanding receivables.
Case Title: CIT Versus Augustus Capital Pte. Ltd.
The Delhi High Court has held that Explanations 6 and 7 appended to section 9(1)(i) Of the Income Tax Act, 1961 to be given retrospective effect.
Reassessment Proceedings, Senior Officers Like ACIT, PCIT Expected To Apply Mind; Delhi High Court
Case Title: Shourya Infrastructure Pvt. Ltd. Versus ITO
The Delhi High Court has held that senior officers like ACIT and PCIT are expected to apply their minds to such requests and, only after that, approve the initiation of reassessment proceedings.
Case Title: CIT Versus Cairnhill Cipef Ltd.
The Delhi High Court has held that a revisionary order under Section 263 of the Income Tax Act could not be passed against a non-existing seller entity by invoking Section 163 against the buyer.
Bombay High Court
Case Title: Peoples Education Society Thane V/s. Assistant Commissioner of Income Tax
The Bombay High Court has quashed the reassessment proceedings alleging escapement of income on the transfer of leasehold rights.
Case Title: Serum Institute of India Private Limited Versus Union of India
The Bombay High Court has dismissed a petition filed by Serum Institute of India Pvt. Ltd. challenging a 2016 amendment to the Income Tax Act.
Tax Can't Be Imposed Presuming Possible Order Of The Small Causes Court: Bombay High Court
Case Title: T.V. Patel Pvt. Ltd. Versus Dy. Commissioner of Income Tax
The Bombay High Court has held that one cannot tax the amount that has not accrued to the assessee and has not been received by the assessee on the assumption and presumption that in the future, the small Causes court will at least order the said sum in favour of the appellant or assessee.
Case Title: M/s. Playerzpot Media Pvt Ltd & Anr. Versus Union of India & Ors.
The Bombay High Court has issued the notice to the department on a plea challenging the GST show cause notice (SCN) issued to online gaming company Playerzpot Media.
Kerala High Court
Absence Of Prescribed Rates On Petroleum Products And Indian-Made Foreign Liquor Before 26.03.2022, Tax Demand Invalid: Kerala High Court
Case Title: Sreevalsam Residency Versus State Of Kerala
The Kerala High Court held that the absence of prescribed rates on petroleum products and Indian-made foreign liquor before March 26, 2022, made the tax demand invalid.
Provisions For Self-Assessment Are More Onerous Than Regular Assessment Regime: Kerala High Court
Case Title: Artech Realtors Versus Intelligence Officer
The Kerala High Court has held that filing an untrue or incorrect return assumes more rigour in the teeth of the onerous obligation, resulting in the imposition of a penalty.
Allahabad High Court
Case Title: M/S Maa Bhagwati Shiksha Samiti Vs Commissioner Of Income Tax And Two Others
The Allahabad High Court has held that if Form-10 under rule 17(2) for claiming exemption has been supplied to the assessing authority after the prescribed period but before completion of assessment, it ought to be considered by the Assessing Authority for granting benefit of exemption under Section 11(2) of the Income Tax Act, 1961 in original assessment proceedings.
Punjab & Haryana High Court
Case Title: Commissioner of Central Excise, Delhi-III Versus Maruti Suzuki India Ltd.
The Punjab and Haryana High Court has allowed the cenvat credit to Maruti Suzuki on training and coaching services, IT (software) services (CHA), cargo handling services for export, warehouse and storage services, land survey services, and hotel Broadway services.
ITAT
ITAT Allows Section 80G Registration To Trust Recycling Post-Consumer Plastic Waste
Case Title: Huhtamaki Foundation Versus Commissioner of Income Tax
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has allowed the registration under Section 80G of the Income Tax Act to the trust recycling post-consumer plastic waste.
Case Title: M/s Uttarakhand Purv Sainik Kalyan Nigam Limited Versus ITO
The Dehradun Bench of the Income Tax Appellate Tribunal (ITAT) has held that prior sanction of approval under Section 151 of the Income Tax Act from the competent authority is mandatory before the reopening of the assessment.
Case Title: DCIT Versus M/s Creamy Foods Ltd
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the availability of cash with different companies is sufficient to explain the cash found at the time of the search.
Case Title: Best Buds Pet Care Versus CIT(Exemption)
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has directed the department to reconsider Form No.10AB for final registration under section 80G of the Income Tax Act by giving the proper opportunity of being heard to the assessee trust.
CESTAT
Supply Of Software Amounts To Sale Of Goods, Service Tax Demand Not Sustainable: CESTAT
Case Title: Advanced Sys Tek Pvt. Ltd. Versus C.S.T.-Service Tax, Vadodara-II
The Ahmedabad Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that the supply of software amounts to the sale of goods, and the service tax demand is not sustainable.
Value Of Scrap Need Not Be Included In The Assessable Value: CESTAT
Case Title: M/s. Shilpa Steel & Power Ltd. Versus Commissioner of Central Excise
The Mumbai Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that the value of scrap need not be included in the assessable value.
