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II. Direct Tax Case laws:
1.
COMMISSIONER OF INCOME TAX-I versus M/S. RELIANCE ENERGY LTD., ITA
No.2193/2009, Date of hearing : 30.09.2013, Supreme Court of India
S. 234D does not apply to an assessment year commencing pre 1.6.2003 if the assessment order is passed prior to that date
Held Yes
Explanation
2 to s. 234D makes it clear that the provisions of the section shall
not apply to an assessment year commencing before the 1st day of June,
2003 if the proceedings in respect of such assessment year is completed
before the said date. As the assessment order in the present case was
passed before 1.6.2003, the question of retrospectively of s. 234D does
not arise.
(Please click here to view the Judgment)
2.
Citicorp Finance (India) versus The Addl. Commissioner of Income Tax,
range 10(1), ITA NO.8532/Mum/2011, Date of Order 13.09.2013. ITAT-
Mumbai
Whether TDS Credit will be available if TDS Certificate is not available/ entry is not shown in Form 26AS
Held Yes
The AO
is not justified in denying credit for TDS on the ground that the TDS
is not reflected in the computer generated Form 26AS. In Yashpal Sahwney
293 ITR 539 the Bombay High Court has noted the difficulty faced by
taxpayers in the matter of credit of TDS and held that even if the
deductor had not issued a TDS certificate, still the claim of the
assessee has to be considered on the basis of the evidence produced for
deduction of tax at source. The Revenue is empowered to recover tax from
the person responsible if he had not deducted tax at source or after
deducting failed to deposit with Central Government. The Delhi High
Court has in Court On Its Own Motion Vs. CIT 352 ITR 273 directed the
department to ensure that credit is given to the assessee even where the
deductor had failed to upload the correct details in Form 26AS on the
basis of evidence produced before the department. Therefore, the
department is required to give credit for TDS once valid TDS certificate
had been produced or even where the deductor had not issued TDS
certificates on the basis of evidence produced by assessee regarding
deduction of tax at source and on the basis of indemnity bond.
(Please click here to view the Judgment)
3. Commissioner of Income Tax – I versus Angelique International Ltd., ITA No., 280/2013 & 454/2013, High Court of Delhi.
Whether circular No. 7/2009 dated 22nd October, 2009
withdrawing Circular No. 23 dated 23rd July, 1969 providing for no
deduction of tax at source u/s 195, if commission/discount on sale paid
to non-residents situated outside India and who do not have any office
or permanent establishment in India, is prospective and not
retrospective.
Held Yes
(Please click here to view the Judgment)
4. M/s. Harniks Park (P) Ltd. Vs. The Income Tax Officer
Hyderabad Ward-2(2), ITA No. 954/Hyd/2011, Date of pronouncement:
27.09.2013, ITAT-Hyderabad.
Where the land which does not fall under the provisions of
section 2(14)(iii) of the IT Act and an assessee who is engaged in
agricultural operations in such agricultural land and also being
specified as agricultural land in Revenue records, the land is not
subjected to any conversion as non-agricultural land, transfer of such
land cannot be considered as a transaction relating to sale of land in
the nature of trade so as to tax the income arising out of this
transaction as business income.
Held Yes
(Please click here to view the Judgment)
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