The notice is issued proposing to levy penalty under Section 271(1) (b) of the Act whereas the order is passed by the Assessing Officer under Section 271(1) (c) of the Act which clearly indicates that there was no application of mind by the Assessing Officer while issuing the notice under Section 274 of the Act.
Delhi High Court held In the case of Agson Global Pvt. Ltd. & Ors vs. Income Tax Settlement Commission & Ors that the powers and functions of an income tax authority which are to be exclusively exercised by the settlement commission must be in the context of and have a nexus with the settlement proceedings.
Delhi High Court held In the case of Principal CIT vs. Facor Power Ltd. that no substantial question of law arises for our consideration. This is so because, the Tribunal has correctly placed reliance on the decision of this Court in Indian Oil Panipat Power Consortium Limited [2009 315 ITR 255 (DEL).
Delhi High Court held In the case of M/s. Aggarwal And Modi Enterprises (Cinema Project) Co. Pvt. Ltd Vs. CIT that whether a liability is ascertained or contingent is dependent on the facts of each case. Merely because a liability may be contractual or non-statutory would not make it incapable of being ascertained.
Delhi High Court held In the case of Principal CIT vs. M. Tech India Pvt. Ltd that in cases where the payments are made for purchase of software as a product, the consideration paid cannot be considered to be for use or the right to use the software.
Sun Pharmaceutical Industries Ltd. Vs. DCIT (Delhi High Court) Vide this judgment, the Hon’ble Delhi High Court was pleased to read down the effect of para 4 of Instruction No. 9 of 2006, which provided that the AO was compelled to initiate reassessment in case of an audit objection, even if the AO is not in agreement with the objections of the Audit party.
Gujarat High Court held In the case of CIT (TDS) vs. Schutz Dishman Bio-Tech Pvt. Ltd. that there are large number of adjustment entries between the corporates. Unlike transactions of loans and advances, in this kind of adjustment entries, the movement of funds is both ways and the same is more in the nature of current account rather than a loan account.
Bombay High Court held In the case of CIT vs. M/s. Sunny Sounds P. Ltd. that however these references are undoubtedly made by the tribunal, they emanate from an application by one of the parties before it , giving rise to the question of law requiring the opinion of the court.
Chhattisgarh High Court held that Denial of benefit of rehabilitation, which includes employment, to a married daughter of affected family is violative of Articles 14 and 15 of the Constitution of India.
Bombay High Court held In the case of CIT vs. M/s Tata Teleservices (Maharashtra) Ltd. that court has consistently taken a view that the tribunal has power to extend the stay even after the substituted third proviso to section 254 (2A) was introduced.
