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:2018 TaxPub(DT) 4439 (SC) - CIT v. Sudhiksha Singh
SLP (C) No. 10348 of 2018 Dated : 16 April, 2018
SECTION - Section 261 Section 153C
Appeal (Supreme Court) - Special leave petition Search and seizure Assessment under section 153C--Documents belonging to the assessee vis-a-vis pertaining to the assessee--Validity of
Department preferred SLP to appeal against the judgment of Delhi High Court in CIT v. Sudhiksha Singh [ITA No. 601/2017, dated 12-9-2017], whereby the High Court held that revenue was wrong in alleging that even prior to 1-6-2015, at the stage of initiation of proceedings under section 153C , it was sufficient if the seized document |pertained to| the assessee (other person) and it is not ncessary to show that the seized material |belonged to| the assessee because the changes brought about in this regard in section 153C by way of amendment has been given prospective effect from 1-6-2015, therefore, the amended provision has no application to assessee|s case as the amended provisions do not have retrospective effect. Held: The Supreme Court dismissed the SLP. - Where the department preferred SLP to appeal against the judgment of Delhi High Court in CIT v. Sudhiksha Singh [ITA No. 601/2017, dated 12-9-2017], whereby the High Court held that revenue was wrong in alleging that even prior to 1-6-2015, at the stage of initiation of proceedings under section 153C , it was sufficient if the seized document |pertained to| the assessee (other person) and it is not ncessary to show that the seized material |belonged to| the assessee because the changes brought about in this regard in section 153C by way of amendment has been given prospective effect from 1-6-2015, therefore, the amended provision has no application to assessee|s case as the amended provisions do not have retrospective effect, the Supreme Court dismissed the SLP.
DECISION - SLP dismissed.
:2018 TaxPub(DT) 3188 (SC) - Wintac Ltd. v. CIT
SLP(C) No. 4017 of 2014 Dated : 15 September, 2014
SECTION - Section 261 Section 4 Section 45
Appeal (Supreme Court) - Special leave petition Capital or revenue receipt Forfeiture of money on cancellation of contract
Assessee preferred SLP to appeal against the judgment of Karnataka High Court in CIT & Anr. v. Wintac Ltd. [ITA No. 910 of 2006, dated 19-9-2013 : (2014) 360 ITR 614 (Karn)], whereby the High Court held that in case of termination of an agreement for sale of property to lessee providing for forfeiture of Rs. 30 lakhs, the amount received in excess was assessable as revenue receipt and the amount received on transfer of tecyhnical know-how was assessable as capital gains. Held: The Supreme Court dismissed the SLP. - Where the assessee preferred SLP to appeal agaisnt the judgment of Karnataka High court in CIT & Anr. v. Wintac Ltd. ITA No. 910 of 2006, dated 19-9-2013 : (2014) 360 ITR 614 (Karn), whereby the High Court held that in case of termination of an agreement for sale of property to lessee providing for forfeiture of Rs. 30 lakhs, the amount received in excess was assessable as revenue receipt and the amount received on transfer of technical know-how was assessable as capital gains, the Supreme Court dismissed the SLP.
DECISION - SLP dismissed.
:2018 TaxPub(DT) 3265 (SC) - South Indian Bank Ltd. v. CIT
SLP (C) No. 12222 & 12388 of 2010 Dated : 15 February, 2016
SECTION - Section 261 Section 2(15)
Appeal (Supreme Court) - Special leave petition Charitable trust Charitable purpose--Factors to be considered for registration of trust
Department preferred SLP to appeal against the judgment of the Madhya Pradesh High Court dated 21-9-2015, whereby the High Court upheld the order of Tribunal directing the CIT to grant registration to the assessee-trust. Held: The Supreme Court granted special leave to department to appeal against the High Court|s ruling. - Where the department preferred SLP to appeal against the judgment of the Madhya Pradesh High Court dated 21-9-2015, whereby the High Court upheld the order of Tribunal directing the CIT to grant registration to the assessee-trust, the Supreme Court granted special leave to department to appeal thereagainst.
DECISION - Leave granted.
:2018 TaxPub(DT) 3237 (SC) - South Indian Bank Ltd. v. CIT
SLP (C) No. 12222 & 12388 of 2010 Dated : 15 February, 2016
SECTION - Section 261 Section 147 Section 234B
Appeal (Supreme Court) - Special leave petition Interest under section 234B--Chargeability Levy of interest in second revision of assessment under section 147
Assessee preferred SLP to appeal against the judgment of the Kerala High Court in South India Bank Ltd. v. CIT [ITA No. 1611 of 2009, dated 2-12-2009 : (2010) 36 DTR (Ker) 155], whereby the High Court held that in the instant case, the first assessment which was in the form of intimation under section 143(1)(a) led to a refund of above rs. 8 crores to assessee, and therefore no interest could be demanded under section 234B(1). Therefore, obviously interest could be levied under section 234B(3) when assessment was revised under section 147, which led to a demand of tax on a positive income of above Rs. 16 crores as against loss of around Rs. 7 crores initially accepted by the office based on revised return filed. Admittedly interest that should have been levied under section 234B(3) was not levied in the course of first revision of assessment completed under section 147 on 28-1-2004. Therefore, interest could be levied under section 234B(3) in the second revision of assessment under section 147 even if in the first reassessment proceeding completed under the very same provision, interest under section 234B(3) was not levied.Held: the Supreme Court granted special leave to assessee to appeal against the High Court|s ruling. - Where the assessee preferred SLP to appeal against the judgment of the Kerala High Court in South India Bank Ltd. v. CIT [ITA No. 1611 of 2009, dated 2-12-2009 : (2010) 36 DTR (Ker) 155], whereby the High Court held that in the instant case, the first assessment which was in the form of intimation under section 143(1)(a) led to a refund of above Rs. 8 crores to assessee, and therefore no interest could be demanded under section 234B(1), therefore, obviously interest could be levied under section 234B(3) when assessment was revised under section 147, which led to a demand of tax on a positive income of above Rs. 16 crores as against loss of around Rs. 7 crores initially accepted by the office based on revised return filed. Admittedly interest that should have been levied under section 234B(3) was not levied in the course of first revision of assessment completed under section 147 on 28-1-2004. Therefore, interest could be levied under section 234B(3) in the second revision of assessment under section 147 even if in the first reassessment proceeding completed under the very same provision, interest under section 234B(3) was not levied, the Supreme Court granted special leave to assessee to appeal thereagainst.
DECISION - Leave granted.
:2018 TaxPub(DT) 3369 (SC) - Yash Society v. Chief CIT
SLP (C) No. 16922 of 2015 Dated : 5 May, 2017
SECTION - Section 261 Section 10(23C)(via)
Appeal (Supreme Court) - Special leave petition Exemption under section 10(23C)(via) Hospital
Assessee-society preferred SLP to appeal against the judgment of Bombay High Court in W.P. No. 2565 of 2010, dated 12-3-2015 : (2015) 375 ITR 152 (Bom), whereby the High Court held that the assessee was not entitled to the benefit of section 10(23C)(via). Held: The Supreme Court granted special leave to assessee to appeal against the High Court|s ruling. - Where assessee-society preferred SLP to appeal against the judgment of Bombay High Court in W.P. No. 2565 of 2010, dated 12-3-2015 : [(2015) 375 ITR 152 (Bom)], whereby the High Court held that the assessee was not entitled to the benefit of section 10(23C)(via), the Supreme Court granted special leave to assessee to appeal thereagainst.
DECISION - Leave granted.
:2018 TaxPub(DT) 3252 (SC) - CIT v. Sun Infraa
SLP (C) No. 4244 of 2016 & C.A. No. 1091 of 2016 Dated : 8 February, 2016
SECTION - Section 261 Section 271(1)(c)
Appeal (Supreme Court) - Special leave petition Penalty under section 271(1)(c) Concealment of income
Department preferred SLP to appeal against the judgment of the Telangana & AP High Court in ITA No. 494 of 2014, dated 30-7-2014, whereby the High Court dismissed the appeal against the order of Tribunal which found that pre-conditions for initiation of penalty proceedings under section 271(1)(c) were not existing.Held: The Supreme Court granted special leave to department to appeal. - Where the department preferred SLP to appeal against the judgment of the Telangana & AP High Court in ITA No. 494 of 2014, dated 30-7-2014, whereby the High Court dismissed the appeal against the order of Tribunal which found that pre-conditions for initiation of penalty proceedings under section 271(1)(c) were not existing, the Supreme Court granted special leave to department to appeal thereagainst.
DECISION - Leave granted.
:2018 TaxPub(DT) 3253 (SC) - Yash Paul Khanna v. CIT
CA No. 6987 of 2009 Dated : 12 February, 2016
SECTION - Section 261 Section 271(1)(c)
Appeal (Supreme Court) - Special leave petition Penalty Pendency of proceedings before High Court and criminal proceedings, whether ground for stay of penalty proceedings
Assessee preferred SLP to appeal against the judgment of the Punjab and Haryana Court in ITA No. 114 of 2007 and C.M. No. 16674, dated 31-8-2007]. Held: The Supreme Court dismissed the assessee|s appeal, holding that pendency of appeal before the High Court and criminal proceedings would not entitle the assessee to stay of penalty proceedings or criminal proceedings. - Where the assessee preferred SLP to appeal against the judgment of the Punjab and Haryana High Court in ITA No. 114 of 2007 and C.M. No. 16674, dated 31-8-2007, the Supreme Court dismissed the assessee|s appeal, holding that pendency of appeal before the High Court and criminal proceedings would not entitle the assessee to stay of penalty proceedings or criminal proceedings.
DECISION - SLP/Appeal dismissed.
:2018 TaxPub(DT) 3228 (SC) - Youth Contruction Private Limited v. CIT
SLP (C) No. 39493 of 2013 Dated : 1 May, 2015
SECTION - Section 261 Section 68
Appeal (Supreme Court) - Special leave petition Cash credits Addition under section 68
Assessee preferred SLP to appeal against the judgment of the Delhi High Court in ITA No. 497 of 2010, dated 8-11-2012 [(2013) 357 ITR 197 (Del)], whereby the High Court set aside the order of Tribunal and deleted the inclusion of cash credits in the assessee|s income holding that it had not taken a holistic view of the evidence and that the assessee had done little to discharge its burden under section 68 and remanded the matter.Held: The Supreme Court granted special leave to assessee to appeal against the High Court|s ruling. - Where the assessee preferred SLP to appeal against the judgment of the Delhi High Court in ITA No. 497 of 2010, dated 8-11-2012 [(12013) 357 ITR 197 (Del)], whereby the High Court set aside the order of Tribunal and deleted the inclusion of cash credits in the assessee|s income holding that it had not taken a holistic view of the evidence and that the assessee had done little to discharge its burden under section 68 and remanded the matter, the Supreme Court granted special leave to assessee to appeal thereagainst.
DECISION - Leave granted.
:2018 TaxPub(DT) 3358 (SC) - CIT v. Rugmini Ram Ragav v. Spinners (P) of Ltd.
SLP (C) No. 11377 of 2008 Dated : 20 March, 2017
SECTION - Section 261 Section 271E
Appeal (Supreme Court) - Special leave petition Penalty under section 271E Acceptance of loan or deposit in cash
Department preferred SLP to appeal against the judgment of Madras High Court in T.C.A. No. 274 of 2004, dated 12-7-2007 [(2008) 304 ITR 417 (Mad)], whereby the High Court held that the reasonable cause was that the assessee was under bona fide belief that the money received was advance only for the purpose of allotment of shares, that no material or evidence or any compelling reason was produced by revenue to prove that money received was a deposit or loan and therefore, the levy of penalty under section 271E was not justified. Held: The Supreme Court granted special leave to the department to appeal against the High Court|s ruling. - Where the department preferred SLP to appeal against the judgment of Madras High Court in T.C.A. No. 274 of 2004, dated 12-7-2007 [(2008) 304 ITR 417 (Mad)], whereby the High Court held that the reasonable cause was that the assessee was under bona fide belief that the money received was advance only for the purpose of allotment of shares, that no material or evidence or any compelling reason was produced by revenue to prove that money received was a deposit or loan and therefore, the levy of penalty under section 271E was not justified, the Supreme Court granted special leave to the department to appeal thereagainst.
DECISION - Leave granted.
:2018 TaxPub(DT) 5561 (SC) :(2018) 257 Taxman 261 (SC) - CIT v. JIS Foundation
Special Leave Petition (Civil) Diary No(s). 22373/2018 Dated : 23 July, 2018
SECTION - Section 261 Section 12AA(3)
Appeal (Supreme Court) - Special leave petition Charitable trust Cancellation of registration under section 12AA(3)--Applicability of amendment in section 12AA(3)
Department preferred SLP to appeal against the judgment of Calcutta High Court in CIT v. JIS Foundation [GA Nos. 2672 of 2015 and 1445, 1446, 1670 & 1671 of 2016, ITAT No. 112 of 2015 and 209 & 265 of 2016, dt. 29-11-2017], whereby the High Court held the provision for cancellation of registration of trust granted under section 12A was brought in by sub-section (3) of section 12AA by Finance Act, 2010, with effect from 1-6-2010 and thus prior to the date and at the time of initiation of the proceedings for cancellation of the registration of the trust granted under section 12A, hence, the impugned order passed by the CIT cancelling the registration of the assessee was rightly set aside by the Tribunal, the Supreme Court condoned delay and granted leave to department to appeal against the High Court|s ruling. - Where the department preferred SLP to appeal against the judgment of Calcutta High Court in CIT v. JIS Foundation [GA Nos. 2672 of 2015 and 1445, 1446, 1670 & 1671 of 2016, ITAT No. 112 of 2015 and 209 & 265 of 2016, dt. 29-11-2017], whereby the High Court held that the provision for cancellation of registration of trust granted under section 12A was brought in by sub-section (3) of section 12AA by Finance Act, 2010, with effect from 1-6-2010 and thus prior to the date and at the time of initiation of the proceedings for cancellation of registration of a trust granted under section 12A, hence, the impugned order passed by the CIT cancelling the registration of the assessee was rightly set aside by the Tribunal, the Supreme Court condoned delay and granted leave to department to appeal thereagainst.
DECISION - Leave granted.
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