INCOME TAX REPORTS (ITR) Volume 352 Part 2 (Issue dated 15-4-2013)
SUBJECT INDEX TO CASES REPORTED IN THIS PART
HIGH COURTS
Advance tax --Interest payable by assessee--Company--Book profit--Computation of income under section 115JB--Law applicable--Effect of amendment of section 115JB by Finance Act, 2002--No liability to pay interest on amount due as advance tax prior to amendment--Income-tax Act, 1961, ss. 115JB, 234B, 234C-- CIT v . Jupiter Bio-Science Ltd . (Karn) . . . 113
Appeal to High Court --Competency of appeal--Effect of section 268A--Monetary limits--Instruction No. 3 of 2011 raising monetary limits--Scope of National Litigation Policy, 2011--Instruction No. 3 of 2011 applicable to pending proceedings--CBDT Instruction No. 3 of 2011, dated February 9, 2011--Income-tax Act, 1961, ss. 260A, 268A-- CIT v. Ranka and Ranka (Karn) . . . 121
----Competency of appeal--Monetary ceiling limits--Instruction No. 3 of 2011, dated February 9, 2011, raising monetary limits--Clause 11 of instruction provides that it applicable to cases filed on or after February 9, 2011--Instruction not applicable to pending cases--CBDT Instruction No. 3 of 2011, dated February 9, 2011--Income-tax Act, 1961, ss. 260A, 268A-- CIT v . Smt. B. Sumangaladevi (Karn) . . . 143
----Competency of appeal--Monetary ceiling limits--Instruction No. 3 of 2011, dated February 9, 2011 raising monetary limits--Whether retrospective--Special leave petition pending before Supreme Court--Liberty to Revenue to revive appeal in the event of success--CBDT Instruction No. 3 of 2011, dated February 9, 2011--Income-tax Act, 1961, s. 260A-- CIT v. Spice Telecom (Karn) . . . 151
Authority for Advance Rulings --Application for ruling--Distinction between admission of application and pronouncement of ruling--No requirement of recording reasons at stage of admission of application--Commissioner or his representative need not be heard at that stage--Hearing Commissioner or his representative before pronouncing advance ruling--Only if Authority considers necessary--Income-tax Act, 1961, s. 245R-- Director of Income-tax (International Taxation) v . AAR
(AP) . . . 185
Business income --Remission or cessation of trading liability--Writing back of gratuity allowed as trading liability in assessment year 1972-73--No remission or cessation of liability--Not taxable during assessment year 1976-77--Income-tax Act, 1961, s. 41(1)-- CIT v . Elgin Mill Co. Ltd . (All) . . . 153
Capital gains --Long-term capital gains--Seizure of copy of sale agreement between wife of assessee and purchaser in survey--Registered sale deed showing lower consideration--Amount shown in sale agreement accepted as purchaser’s investment in her income-tax assessment--Assessment of assessee adopting amount shown in sale agreement justified--Income-tax Act, 1961-- M. Basheer Ahamed v . CIT (Mad) . . . 157
Offences and prosecution --Failure to file return in time--Complaint under section 276CC--Accused paying tax and moving Settlement Commission--Commission granting immunity from penalty for issues involved in settlement application--No immunity by Commission from prosecution already launched--Trial court taking cognizance under section 276CC--Proper--Income-tax Act, 1961, s. 276CC-- Anil Kumar Sinha v. Union of India (Patna) . . . 170
----Wilful attempt to evade tax--Firm--Effect of section 278B--Partners liable unless able to prove innocence--Finding that firm had tried to evade tax--Prosecution of partners could not be quashed--Income-tax Act, 1961, ss. 276C, 276D, 278B--Code of Criminal Procedure, 1973, s. 482-- Deepak Engineering Works v . CIT
(Patna) . . . 161
Search and seizure --Cash seized from third person adjusted towards his tax liability--No material to show that cash seized from him belongs to assessee--Inclusion of cash seized from third person in hands of assessee--Not justified--Income-tax Act, 1961-- CIT v . Smt. B. Sumangaladevi (Karn) . . . 143
Writ --High Court--Absence of efficacious remedy--High Court can go into merits--Admission of application for advance ruling without hearing Department--No infringement of legal rights--No relief--Constitution of India, art. 226-- Director of Income-tax (International Taxation) v . AAR (AP) . . . 185
SECTIONWISE INDEX TO CASES REPORTED IN THIS PART
Code of Criminal Procedure, 1973 :
S. 482 --Offences and prosecution--Wilful attempt to evade tax--Firm--Effect of section 278B--Partners liable unless able to prove innocence--Finding that firm had tried to evade tax--Prosecution of partners could not be quashed-- Deepak Engineering Works v . CIT (Patna) . . . 161
Constitution of India :
Art. 226 --Writ--High Court--Absence of efficacious remedy--High Court can go into merits--Admission of application for advance ruling without hearing Department--No infringement of legal rights--No relief-- Director of Income-tax (International Taxation) v . AAR (AP) . . . 185
Income-tax Act, 1961 :
S. 41(1) --Business income--Remission or cessation of trading liability--Writing back of gratuity allowed as trading liability in assessment year 1972-73--No remission or cessation of liability--Not taxable during assessment year 1976-77-- CIT v . Elgin Mill Co. Ltd . (All) . . . 153
S. 115JB --Advance tax--Interest payable by assessee--Company--Book profit--Computation of income under section 115JB--Law applicable--Effect of amendment of section 115JB by Finance Act, 2002--No liability to pay interest on amount due as advance tax prior to amendment-- CIT v . Jupiter Bio-Science Ltd . (Karn) . . . 113
S. 234B --Advance tax--Interest payable by assessee--Company--Book profit--Computation of income under section 115JB--Law applicable--Effect of amendment of section 115JB by Finance Act, 2002--No liability to pay interest on amount due as advance tax prior to amendment-- CIT v . Jupiter Bio-Science Ltd . (Karn) . . . 113
S. 234C --Advance tax--Interest payable by assessee--Company--Book profit--Computation of income under section 115JB--Law applicable--Effect of amendment of section 115JB by Finance Act, 2002--No liability to pay interest on amount due as advance tax prior to amendment-- CIT v . Jupiter Bio-Science Ltd . (Karn) . . . 113
S. 245R --Authority for Advance Rulings--Application for ruling--Distinction between admission of application and pronouncement of ruling--No requirement of recording reasons at stage of admission of application--Commissioner or his representative need not be heard at that stage--Hearing Commissioner or his representative before pronouncing advance ruling--Only if Authority considers necessary-- Director of Income-tax (International Taxation) v . AAR (AP) . . . 185
S. 260A --Appeal to High Court--Competency of appeal--Effect of section 268A--Monetary limits--Instruction No. 3 of 2011 raising monetary limits--Scope of National Litigation Policy, 2011--Instruction No. 3 of 2011 applicable to pending proceedings--CBDT Instruction No. 3 of 2011, dated February 9, 2011-- CIT v. Ranka and Ranka
(Karn) . . . 121
----Appeal to High Court--Competency of appeal--Monetary ceiling limits--Instruction No. 3 of 2011, dated February 9, 2011, raising monetary limits--Clause 11 of instruction provides that it applicable to cases filed on or after February 9, 2011--Instruction not applicable to pending cases--CBDT Instruction No. 3 of 2011, dated February 9, 2011-- CIT v . Smt. B. Sumangaladevi (Karn) . . . 143
----Appeal to High Court--Competency of appeal--Monetary ceiling limits--Instruction No. 3 of 2011, dated February 9, 2011 raising monetary limits--Whether retrospective--Special leave petition pending before Supreme Court--Liberty to Revenue to revive appeal in the event of success--CBDT Instruction No. 3 of 2011, dated February 9, 2011-- CIT v. Spice Telecom (Karn) . . . 151
S. 268A --Appeal to High Court--Competency of appeal--Effect of section 268A--Monetary limits--Instruction No. 3 of 2011 raising monetary limits--Scope of National Litigation Policy, 2011--Instruction No. 3 of 2011 applicable to pending proceedings--CBDT Instruction No. 3 of 2011, dated February 9, 2011-- CIT v. Ranka and Ranka
(Karn) . . . 121
----Appeal to High Court--Competency of appeal--Monetary ceiling limits--Instruction No. 3 of 2011, dated February 9, 2011, raising monetary limits--Clause 11 of instruction provides that it applicable to cases filed on or after February 9, 2011--Instruction not applicable to pending cases--CBDT Instruction No. 3 of 2011, dated February 9, 2011-- CIT v . Smt. B. Sumangaladevi (Karn) . . . 143
S. 276C --Offences and prosecution--Wilful attempt to evade tax--Firm--Effect of section 278B--Partners liable unless able to prove innocence--Finding that firm had tried to evade tax--Prosecution of partners could not be quashed-- Deepak Engineering Works v . CIT (Patna) . . . 161
S. 276CC --Offences and prosecution--Failure to file return in time--Complaint under section 276CC--Accused paying tax and moving Settlement Commission--Commission granting immunity from penalty for issues involved in settlement application--No immunity by Commission from prosecution already launched--Trial court taking cognizance under section 276CC--Proper-- Anil Kumar Sinha v. Union of India
(Patna) . . . 170
S. 276D --Offences and prosecution--Wilful attempt to evade tax--Firm--Effect of section 278B--Partners liable unless able to prove innocence--Finding that firm had tried to evade tax--Prosecution of partners could not be quashed-- Deepak Engineering Works v . CIT (Patna) . . . 161
S. 278B --Offences and prosecution--Wilful attempt to evade tax--Firm--Effect of section 278B--Partners liable unless able to prove innocence--Finding that firm had tried to evade tax--Prosecution of partners could not be quashed-- Deepak Engineering Works v . CIT (Patna) . . . 161
SUBJECT INDEX TO CASES REPORTED IN THIS PART
HIGH COURTS
Advance tax --Interest payable by assessee--Company--Book profit--Computation of income under section 115JB--Law applicable--Effect of amendment of section 115JB by Finance Act, 2002--No liability to pay interest on amount due as advance tax prior to amendment--Income-tax Act, 1961, ss. 115JB, 234B, 234C-- CIT v . Jupiter Bio-Science Ltd . (Karn) . . . 113
Appeal to High Court --Competency of appeal--Effect of section 268A--Monetary limits--Instruction No. 3 of 2011 raising monetary limits--Scope of National Litigation Policy, 2011--Instruction No. 3 of 2011 applicable to pending proceedings--CBDT Instruction No. 3 of 2011, dated February 9, 2011--Income-tax Act, 1961, ss. 260A, 268A-- CIT v. Ranka and Ranka (Karn) . . . 121
----Competency of appeal--Monetary ceiling limits--Instruction No. 3 of 2011, dated February 9, 2011, raising monetary limits--Clause 11 of instruction provides that it applicable to cases filed on or after February 9, 2011--Instruction not applicable to pending cases--CBDT Instruction No. 3 of 2011, dated February 9, 2011--Income-tax Act, 1961, ss. 260A, 268A-- CIT v . Smt. B. Sumangaladevi (Karn) . . . 143
----Competency of appeal--Monetary ceiling limits--Instruction No. 3 of 2011, dated February 9, 2011 raising monetary limits--Whether retrospective--Special leave petition pending before Supreme Court--Liberty to Revenue to revive appeal in the event of success--CBDT Instruction No. 3 of 2011, dated February 9, 2011--Income-tax Act, 1961, s. 260A-- CIT v. Spice Telecom (Karn) . . . 151
Authority for Advance Rulings --Application for ruling--Distinction between admission of application and pronouncement of ruling--No requirement of recording reasons at stage of admission of application--Commissioner or his representative need not be heard at that stage--Hearing Commissioner or his representative before pronouncing advance ruling--Only if Authority considers necessary--Income-tax Act, 1961, s. 245R-- Director of Income-tax (International Taxation) v . AAR
(AP) . . . 185
Business income --Remission or cessation of trading liability--Writing back of gratuity allowed as trading liability in assessment year 1972-73--No remission or cessation of liability--Not taxable during assessment year 1976-77--Income-tax Act, 1961, s. 41(1)-- CIT v . Elgin Mill Co. Ltd . (All) . . . 153
Capital gains --Long-term capital gains--Seizure of copy of sale agreement between wife of assessee and purchaser in survey--Registered sale deed showing lower consideration--Amount shown in sale agreement accepted as purchaser’s investment in her income-tax assessment--Assessment of assessee adopting amount shown in sale agreement justified--Income-tax Act, 1961-- M. Basheer Ahamed v . CIT (Mad) . . . 157
Offences and prosecution --Failure to file return in time--Complaint under section 276CC--Accused paying tax and moving Settlement Commission--Commission granting immunity from penalty for issues involved in settlement application--No immunity by Commission from prosecution already launched--Trial court taking cognizance under section 276CC--Proper--Income-tax Act, 1961, s. 276CC-- Anil Kumar Sinha v. Union of India (Patna) . . . 170
----Wilful attempt to evade tax--Firm--Effect of section 278B--Partners liable unless able to prove innocence--Finding that firm had tried to evade tax--Prosecution of partners could not be quashed--Income-tax Act, 1961, ss. 276C, 276D, 278B--Code of Criminal Procedure, 1973, s. 482-- Deepak Engineering Works v . CIT
(Patna) . . . 161
Search and seizure --Cash seized from third person adjusted towards his tax liability--No material to show that cash seized from him belongs to assessee--Inclusion of cash seized from third person in hands of assessee--Not justified--Income-tax Act, 1961-- CIT v . Smt. B. Sumangaladevi (Karn) . . . 143
Writ --High Court--Absence of efficacious remedy--High Court can go into merits--Admission of application for advance ruling without hearing Department--No infringement of legal rights--No relief--Constitution of India, art. 226-- Director of Income-tax (International Taxation) v . AAR (AP) . . . 185
SECTIONWISE INDEX TO CASES REPORTED IN THIS PART
Code of Criminal Procedure, 1973 :
S. 482 --Offences and prosecution--Wilful attempt to evade tax--Firm--Effect of section 278B--Partners liable unless able to prove innocence--Finding that firm had tried to evade tax--Prosecution of partners could not be quashed-- Deepak Engineering Works v . CIT (Patna) . . . 161
Constitution of India :
Art. 226 --Writ--High Court--Absence of efficacious remedy--High Court can go into merits--Admission of application for advance ruling without hearing Department--No infringement of legal rights--No relief-- Director of Income-tax (International Taxation) v . AAR (AP) . . . 185
Income-tax Act, 1961 :
S. 41(1) --Business income--Remission or cessation of trading liability--Writing back of gratuity allowed as trading liability in assessment year 1972-73--No remission or cessation of liability--Not taxable during assessment year 1976-77-- CIT v . Elgin Mill Co. Ltd . (All) . . . 153
S. 115JB --Advance tax--Interest payable by assessee--Company--Book profit--Computation of income under section 115JB--Law applicable--Effect of amendment of section 115JB by Finance Act, 2002--No liability to pay interest on amount due as advance tax prior to amendment-- CIT v . Jupiter Bio-Science Ltd . (Karn) . . . 113
S. 234B --Advance tax--Interest payable by assessee--Company--Book profit--Computation of income under section 115JB--Law applicable--Effect of amendment of section 115JB by Finance Act, 2002--No liability to pay interest on amount due as advance tax prior to amendment-- CIT v . Jupiter Bio-Science Ltd . (Karn) . . . 113
S. 234C --Advance tax--Interest payable by assessee--Company--Book profit--Computation of income under section 115JB--Law applicable--Effect of amendment of section 115JB by Finance Act, 2002--No liability to pay interest on amount due as advance tax prior to amendment-- CIT v . Jupiter Bio-Science Ltd . (Karn) . . . 113
S. 245R --Authority for Advance Rulings--Application for ruling--Distinction between admission of application and pronouncement of ruling--No requirement of recording reasons at stage of admission of application--Commissioner or his representative need not be heard at that stage--Hearing Commissioner or his representative before pronouncing advance ruling--Only if Authority considers necessary-- Director of Income-tax (International Taxation) v . AAR (AP) . . . 185
S. 260A --Appeal to High Court--Competency of appeal--Effect of section 268A--Monetary limits--Instruction No. 3 of 2011 raising monetary limits--Scope of National Litigation Policy, 2011--Instruction No. 3 of 2011 applicable to pending proceedings--CBDT Instruction No. 3 of 2011, dated February 9, 2011-- CIT v. Ranka and Ranka
(Karn) . . . 121
----Appeal to High Court--Competency of appeal--Monetary ceiling limits--Instruction No. 3 of 2011, dated February 9, 2011, raising monetary limits--Clause 11 of instruction provides that it applicable to cases filed on or after February 9, 2011--Instruction not applicable to pending cases--CBDT Instruction No. 3 of 2011, dated February 9, 2011-- CIT v . Smt. B. Sumangaladevi (Karn) . . . 143
----Appeal to High Court--Competency of appeal--Monetary ceiling limits--Instruction No. 3 of 2011, dated February 9, 2011 raising monetary limits--Whether retrospective--Special leave petition pending before Supreme Court--Liberty to Revenue to revive appeal in the event of success--CBDT Instruction No. 3 of 2011, dated February 9, 2011-- CIT v. Spice Telecom (Karn) . . . 151
S. 268A --Appeal to High Court--Competency of appeal--Effect of section 268A--Monetary limits--Instruction No. 3 of 2011 raising monetary limits--Scope of National Litigation Policy, 2011--Instruction No. 3 of 2011 applicable to pending proceedings--CBDT Instruction No. 3 of 2011, dated February 9, 2011-- CIT v. Ranka and Ranka
(Karn) . . . 121
----Appeal to High Court--Competency of appeal--Monetary ceiling limits--Instruction No. 3 of 2011, dated February 9, 2011, raising monetary limits--Clause 11 of instruction provides that it applicable to cases filed on or after February 9, 2011--Instruction not applicable to pending cases--CBDT Instruction No. 3 of 2011, dated February 9, 2011-- CIT v . Smt. B. Sumangaladevi (Karn) . . . 143
S. 276C --Offences and prosecution--Wilful attempt to evade tax--Firm--Effect of section 278B--Partners liable unless able to prove innocence--Finding that firm had tried to evade tax--Prosecution of partners could not be quashed-- Deepak Engineering Works v . CIT (Patna) . . . 161
S. 276CC --Offences and prosecution--Failure to file return in time--Complaint under section 276CC--Accused paying tax and moving Settlement Commission--Commission granting immunity from penalty for issues involved in settlement application--No immunity by Commission from prosecution already launched--Trial court taking cognizance under section 276CC--Proper-- Anil Kumar Sinha v. Union of India
(Patna) . . . 170
S. 276D --Offences and prosecution--Wilful attempt to evade tax--Firm--Effect of section 278B--Partners liable unless able to prove innocence--Finding that firm had tried to evade tax--Prosecution of partners could not be quashed-- Deepak Engineering Works v . CIT (Patna) . . . 161
S. 278B --Offences and prosecution--Wilful attempt to evade tax--Firm--Effect of section 278B--Partners liable unless able to prove innocence--Finding that firm had tried to evade tax--Prosecution of partners could not be quashed-- Deepak Engineering Works v . CIT (Patna) . . . 161
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