This document summarizes an order from the Income Tax Appellate Tribunal regarding an appeal by the revenue against an order by the Commissioner of Income Tax (CIT) related to the assessment year 2014-15 for Mr. Suresh Prasad. The revenue appealed on grounds including that the CIT order was erroneous in allowing exemption of capital gains from compensation received for compulsory acquisition of agricultural land. The Tribunal notes submissions from the Department Representative and the assessee's advocate and examines relevant circulars on taxability of compensation received for land acquisition.
Case laws update - V. K. Subramani - Article published in Business Advisor, dated September 25, 2016 - http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
Beneficial CBDT Circular for allowance of disallowed expenditures - V. K. Sub...D Murali ☆
Beneficial CBDT Circular for allowance of disallowed expenditures - V. K. Subramani - Article published in Business Advisor, dated November 25, 2016 - http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
Dear Patron
Here we are with the Thirty third successive issue of our monthly ‘Missive’.
We trust you will enjoy reading this Missive, even while soaking in the contents. We would very much appreciate your feedback which consistently helps us in improving and upgrading the contents.
Thanks and regards,
Knowledge Management Team
Weekly Tax Newsletter 07-06-2020- N Pahilwani & AssociatesNitin Pahilwani
The document discusses self-invoicing under the GST regime. Self-invoicing is required when goods or services are purchased from an unregistered supplier and the liability to pay tax is under reverse charge. Since the unregistered supplier cannot issue a GST invoice, the recipient must issue a self-invoice for documenting the tax liability and availing input tax credit. The key details are:
1. Self-invoicing is required for purchases covered under reverse charge as per Sections 9(3), 9(4) of the CGST Act and Sections 5(3), 5(4) of the IGST Act.
2. The recipient must issue an invoice within 30 days for goods and 60 days for services from
SARRAF_EXPORT vs. ITO, Ward -2, Churu JODH-2012suresh ojha
The Income Tax Appellate Tribunal was hearing appeals from M/s. Sarraf Export for assessment years 2005-06 and 2006-07 regarding the disallowance of a deduction claimed under Section 80IB of the Income Tax Act for an amount credited as Duty Entitlement Pass Book. The Tribunal found that the Assessing Officer's withdrawal of the deduction, which was initially allowed, under Section 154 was not valid as the issue was debatable given an amendment to Section 28 and relevant case law. Therefore, the Tribunal allowed the appeals and reversed the orders of the Commissioner of Income Tax (Appeals).
This document is a newsletter from Utsav Shah & Associates that provides summaries of recent tax law developments in India. It discusses several Circulars and clarifications issued by the Central Board of Direct Taxes regarding issues like indirect transfers, cash transaction reporting requirements, identification of potential non-filers, and the Direct Tax Dispute Resolution Scheme. It also summarizes several important court judgments dealing with issues such as depreciation of goodwill, attribution of profits to a permanent establishment, and the applicability of Section 14A disallowance.
A statement recorded u/s 133A of the I.T. Act, 1961 by an income-tax authorit...D Murali ☆
1) Statements made by assessees during the course of a survey by an income tax authority surrendering undisclosed income cannot be used against the assessee. Such statements have no evidentiary value.
2) The CBDT has issued instructions that income tax authorities should not attempt to obtain confessions of undisclosed income during surveys and searches, and any actions to do so will be viewed negatively.
3) A recent ITAT ruling supported the position that additions cannot be made solely based on statements given during a survey, as such statements have no legal evidentiary value.
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Case laws update - V. K. Subramani - Article published in Business Advisor, dated September 25, 2016 - http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
Beneficial CBDT Circular for allowance of disallowed expenditures - V. K. Sub...D Murali ☆
Beneficial CBDT Circular for allowance of disallowed expenditures - V. K. Subramani - Article published in Business Advisor, dated November 25, 2016 - http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
Dear Patron
Here we are with the Thirty third successive issue of our monthly ‘Missive’.
We trust you will enjoy reading this Missive, even while soaking in the contents. We would very much appreciate your feedback which consistently helps us in improving and upgrading the contents.
Thanks and regards,
Knowledge Management Team
Weekly Tax Newsletter 07-06-2020- N Pahilwani & AssociatesNitin Pahilwani
The document discusses self-invoicing under the GST regime. Self-invoicing is required when goods or services are purchased from an unregistered supplier and the liability to pay tax is under reverse charge. Since the unregistered supplier cannot issue a GST invoice, the recipient must issue a self-invoice for documenting the tax liability and availing input tax credit. The key details are:
1. Self-invoicing is required for purchases covered under reverse charge as per Sections 9(3), 9(4) of the CGST Act and Sections 5(3), 5(4) of the IGST Act.
2. The recipient must issue an invoice within 30 days for goods and 60 days for services from
SARRAF_EXPORT vs. ITO, Ward -2, Churu JODH-2012suresh ojha
The Income Tax Appellate Tribunal was hearing appeals from M/s. Sarraf Export for assessment years 2005-06 and 2006-07 regarding the disallowance of a deduction claimed under Section 80IB of the Income Tax Act for an amount credited as Duty Entitlement Pass Book. The Tribunal found that the Assessing Officer's withdrawal of the deduction, which was initially allowed, under Section 154 was not valid as the issue was debatable given an amendment to Section 28 and relevant case law. Therefore, the Tribunal allowed the appeals and reversed the orders of the Commissioner of Income Tax (Appeals).
This document is a newsletter from Utsav Shah & Associates that provides summaries of recent tax law developments in India. It discusses several Circulars and clarifications issued by the Central Board of Direct Taxes regarding issues like indirect transfers, cash transaction reporting requirements, identification of potential non-filers, and the Direct Tax Dispute Resolution Scheme. It also summarizes several important court judgments dealing with issues such as depreciation of goodwill, attribution of profits to a permanent establishment, and the applicability of Section 14A disallowance.
A statement recorded u/s 133A of the I.T. Act, 1961 by an income-tax authorit...D Murali ☆
1) Statements made by assessees during the course of a survey by an income tax authority surrendering undisclosed income cannot be used against the assessee. Such statements have no evidentiary value.
2) The CBDT has issued instructions that income tax authorities should not attempt to obtain confessions of undisclosed income during surveys and searches, and any actions to do so will be viewed negatively.
3) A recent ITAT ruling supported the position that additions cannot be made solely based on statements given during a survey, as such statements have no legal evidentiary value.
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The document is an order from the Principal Commissioner of Income Tax in Chennai regarding revision of an income tax assessment for the 2011-12 year under section 263 of the Income Tax Act of 1961.
The order summarizes that the original assessing officer's assessment order simply accepted the taxpayer's return without proper verification or discussion. The Principal Commissioner issued a show cause notice for revision, arguing the original order was erroneous and prejudicial to the interests of revenue.
The taxpayer's representative challenged the jurisdiction for revision, arguing the Principal Commissioner did not properly record their satisfaction that the order was erroneous and prejudicial. However, the order cites a high court case establishing that by signing approval of the draft notice, the Commissioner had properly invoked
The Income Tax Appellate Tribunal delivered a judgment on an appeal by the tax authorities (Revenue) and a cross-appeal by the taxpayer (assessee) regarding the taxpayer's assessment for the 2006-07 tax year. In a detailed order, the Tribunal upheld the Commissioner of Income Tax's deletion of several additions made by the Assessing Officer to the taxpayer's income. Specifically, the Tribunal found no evidence to support additions for alleged undisclosed income, notional interest income, or unexplained bank deposits. The Tribunal also denied exemption claimed by the tax authorities for long-term capital gains reinvested by the taxpayer in a residential property. As a result, the Tribunal dismissed the Revenue's appeal and the assessee's cross
Gagan Deep Kathuria vs. ACIT, Sriganganagarsuresh ojha
This document summarizes a tax appeal case in India. It discusses:
- An assessment order by an Assessing Officer (AO) for tax year 2007-08 setting income at Rs. 74,75,000.
- The Commissioner initiated revision under section 263, setting aside the assessment on grounds it was erroneous and prejudicial to revenue interests.
- The taxpayer appealed, arguing the AO properly dealt with matters. The Commissioner responded supporting his findings.
- The tribunal analyzed the law on section 263 revisions. It found the AO adequately examined issues, applied mind, and reached a plausible conclusion within his powers. Thus, the assessment was not erroneous and the Commissioner improperly invoked revision powers.
The ITO Ward, Bikaner vs. Shree Bhagwan Sutharsuresh ojha
(1) The revenue has appealed an order from the CIT(A) that provided partial relief to the assessee, Shri Shree Bhagwan Suthar.
(2) The CIT(A) deleted additions made under section 68 of Rs. 8,16,584, under expenses of Rs. 1,73,463, and for household expenses of Rs. 34,500.
(3) The ITAT upholds the CIT(A)'s order, finding the assessee provided adequate evidence to establish credits and expenses, and the AO made additions without evidence.
Compensation paid to accident victims and interest for delayed payment is not...D Murali ☆
Compensation paid to accident victims and interest for delayed payment is not liable to income-tax - T. N. Pandey - Article published in Business Advisor, dated August 10, 2016 - http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
The document summarizes a court case regarding an appeal by a school management committee against an order by the Commissioner of Income Tax related to registration under section 12A of the Income Tax Act. Key points:
- The committee had applied for registration in 2006 but the Commissioner only registered them starting in 2005, not from the original 1985 date as requested.
- The committee appealed arguing the Commissioner's order was invalid as it was passed more than 6 months after their application, and they should be registered from 1985.
- There was significant delay in the committee filing their appeal to the tribunal. They argued this was due to ignorance of the law and wrong advice.
- The tribunal considered precedents supporting con
This document provides a summary of tax updates and circulars from the CBDT and cases from various courts in India for the month of January 2019. Some key points include:
1. The CBDT issued guidance on TDS on salary and withdrew a circular on applicability of section 56(2)(viia).
2. The notification provided a simplified procedure for startups to get approval under section 56(2)(viib).
3. Various cases related to reopening of assessments, capital gains, exemption under section 11, and transfer pricing adjustments were decided by the High Courts and Tribunals.
4. International tax updates from the OECD included several countries joining the inclusive framework on BEPS
1. The document summarizes key updates from the Tax Bulletin of June 2020 regarding direct tax matters in India.
2. It discusses two judicial cases - in the first case, the ITAT held that no disallowance under section 14A can be made if the assessee has not earned any tax-exempt income. In the second case, the ITAT allowed depreciation on the cost of a golf course by considering it as "plant and machinery".
3. It also summarizes three circulars/notifications issued by the CBDT - reduction of TDS/TCS rates and extension of various compliance due dates in light of COVID-19; deferring new procedures for approval/registration
Sharing a Compilation of Case Laws on ‘Notice Under Section 148’ of Income Tax Act, 1961. The said document is available at http://expertspanel.in/?qa=blob&qa_blobid=10601143440222107929 as well as at http://lunawat.com/Uploaded_Files/Attachments/F_4740.pdf
This document provides a summary of tax updates from February 2019 in India. Key points include:
- The due date for filing ITR was extended to February 28, 2019 for taxpayers in Kerala affected by floods.
- Angel tax rules were relaxed and no tax will be imposed on share issuances up to Rs. 25 crore.
- The income tax rebate under Section 87A was increased so that no tax is payable on income up to Rs. 5 lakh.
- Monetary limits for filing income tax appeals now also apply to wealth tax appeals.
S. 147 no change of opinion if ao does not specifically apply his mind usha...softdynamite
The document is a judgment from the High Court of Delhi regarding substantial questions of law referred to a Full Bench pertaining to the interpretation of Section 147 of the Income Tax Act, 1961 dealing with reopening of assessments. The 3 questions referred relate to the meaning of the term "change of opinion" and whether reassessment can be valid if there was full disclosure originally or if the Assessing Officer did not raise any queries on a particular issue. The Full Bench provides context on the term "opinion" and examines the conditions for reopening an assessment under Section 147. It also discusses conflicting views on whether only the assessment order can be referred to in determining change of opinion or other factors can also be considered.
Newsletter on daily professional updates- 18th September 2019CA PRADEEP GOYAL
This daily newsletter provides updates on laws, regulations, and developments in India across various fields including taxation, corporate laws, insolvency and bankruptcy, and the economy. Key updates in this issue include the CBDT waiving the lock-in period for non-resident investment in infrastructure debt funds, the ICAI issuing FAQs on dividend distribution tax under Ind AS, and the RBI releasing a discussion paper on payment gateways and aggregators. The newsletter also summarizes recent court judgments and reports on proposed GST rate cuts.
The document provides a summary of tax updates from June 2019 in India. Some key points include:
- The CBDT clarified rules around claiming set-offs of losses against income determined under certain sections.
- The Finance Minister raised issues of digital tax at the G20 meeting and the G20 agreed to introduce new digital tax rules for tech giants by 2020.
- 702 start-ups were exempted from Angel Tax provisions until June 2021.
- Internationally, countries like Morocco and Serbia took steps to strengthen tax treaties and international cooperation on issues like tax evasion.
- Domestically, several Supreme Court and High Court rulings addressed issues like eligibility for tax exemp
Section 119(2)(b) of the Income Tax Act, 1961 - CBDT needs to act judicially,...D Murali ☆
Section 119(2)(b) of the Income Tax Act, 1961 - CBDT needs to act judicially, not arbitrarily - T. N. Pandey - Article published in Business Advisor, dated September 10, 2014 http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
Income-tax – Case law updates - V. K. SubramaniD Murali ☆
Income-tax – Case law updates - V. K. Subramani - Article published in Business Advisor, dated August 10, 2016 - http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
Will secured creditor have priority over income-tax arrears? - V. K. SubramaniD Murali ☆
Will secured creditor have priority over income-tax arrears? - V. K. Subramani - Article published in Business Advisor, dated October 10, 2016 - http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
With a shit to GST, the Indian taxation system has undergone a tremendous transformation.
This article deals with the first and the most important step towards the shift, Registration.
This document provides a summary of recent legal landmarks across various high courts and tribunals in India. It lists 6 cases covering topics such as:
1. The levy of penalty where the assessee voluntarily surrendered long term capital gains prior to a section 148 notice.
2. Whether a section 14A disallowance can be made without determining the purpose of an investment generating exempt income.
3. Whether cash received by retiring partners represented capital gains or income.
4. Whether the deletion of an income addition on pure findings of fact raises a substantial question of law.
5. Whether an appeal order should wait for the disposal of a pending SLP on the same question of law.
The document contains three requests for adjournment or additional time related to tax assessment cases for RRB Consultants & Engineers Pvt. Ltd. for various assessment years. In the first request, the authorized signatory asks that a case scheduled for August 19, 2005 be adjourned to the first week of September due to the dealer being in the process of collecting forms from customers. In the second request, dated July 20, 2006, the authorized signatory asks that an appeal case scheduled for July 25, 2006 be adjourned as the company's counsel will be out of station. In the third and final request dated September 4, 2008, the authorized signatory asks that an assessment case be adjourned for
This document discusses capital gains tax and amendments under Indian tax law. Some key points:
- Capital gains arising from the transfer of a capital asset are taxed under the "Capital gains" head of income and deemed as income of the previous year when the transfer took place.
- Certain situations like money received from insurance for damaged capital assets or conversion of capital assets to stock are also deemed as capital gains of the previous year.
- The profits from transfer of capital assets to firms/AOPs as capital contribution or on dissolution are also taxed as capital gains income of the previous year.
- Computation of capital gains involves deducting expenditure and cost of acquisition from the full value received for the
This document summarizes key provisions around capital gains tax in India. Some key points:
- Capital gains arising from the transfer of a capital asset are taxed under the head "Capital gains" and deemed as income for the year the transfer took place.
- Certain transfers like conversion of capital assets to stock-in-trade, transfer to firms/AOPs on becoming a partner, distribution of capital assets on firm dissolution, are also deemed as capital gains for tax purposes.
- The capital gains are computed by deducting the indexed cost of acquisition and improvements from the full value of consideration received.
- Special rules apply for determining the cost of acquisition for assets received by way of gift, inheritance
The document is an order from the Principal Commissioner of Income Tax in Chennai regarding revision of an income tax assessment for the 2011-12 year under section 263 of the Income Tax Act of 1961.
The order summarizes that the original assessing officer's assessment order simply accepted the taxpayer's return without proper verification or discussion. The Principal Commissioner issued a show cause notice for revision, arguing the original order was erroneous and prejudicial to the interests of revenue.
The taxpayer's representative challenged the jurisdiction for revision, arguing the Principal Commissioner did not properly record their satisfaction that the order was erroneous and prejudicial. However, the order cites a high court case establishing that by signing approval of the draft notice, the Commissioner had properly invoked
The Income Tax Appellate Tribunal delivered a judgment on an appeal by the tax authorities (Revenue) and a cross-appeal by the taxpayer (assessee) regarding the taxpayer's assessment for the 2006-07 tax year. In a detailed order, the Tribunal upheld the Commissioner of Income Tax's deletion of several additions made by the Assessing Officer to the taxpayer's income. Specifically, the Tribunal found no evidence to support additions for alleged undisclosed income, notional interest income, or unexplained bank deposits. The Tribunal also denied exemption claimed by the tax authorities for long-term capital gains reinvested by the taxpayer in a residential property. As a result, the Tribunal dismissed the Revenue's appeal and the assessee's cross
Gagan Deep Kathuria vs. ACIT, Sriganganagarsuresh ojha
This document summarizes a tax appeal case in India. It discusses:
- An assessment order by an Assessing Officer (AO) for tax year 2007-08 setting income at Rs. 74,75,000.
- The Commissioner initiated revision under section 263, setting aside the assessment on grounds it was erroneous and prejudicial to revenue interests.
- The taxpayer appealed, arguing the AO properly dealt with matters. The Commissioner responded supporting his findings.
- The tribunal analyzed the law on section 263 revisions. It found the AO adequately examined issues, applied mind, and reached a plausible conclusion within his powers. Thus, the assessment was not erroneous and the Commissioner improperly invoked revision powers.
The ITO Ward, Bikaner vs. Shree Bhagwan Sutharsuresh ojha
(1) The revenue has appealed an order from the CIT(A) that provided partial relief to the assessee, Shri Shree Bhagwan Suthar.
(2) The CIT(A) deleted additions made under section 68 of Rs. 8,16,584, under expenses of Rs. 1,73,463, and for household expenses of Rs. 34,500.
(3) The ITAT upholds the CIT(A)'s order, finding the assessee provided adequate evidence to establish credits and expenses, and the AO made additions without evidence.
Compensation paid to accident victims and interest for delayed payment is not...D Murali ☆
Compensation paid to accident victims and interest for delayed payment is not liable to income-tax - T. N. Pandey - Article published in Business Advisor, dated August 10, 2016 - http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
The document summarizes a court case regarding an appeal by a school management committee against an order by the Commissioner of Income Tax related to registration under section 12A of the Income Tax Act. Key points:
- The committee had applied for registration in 2006 but the Commissioner only registered them starting in 2005, not from the original 1985 date as requested.
- The committee appealed arguing the Commissioner's order was invalid as it was passed more than 6 months after their application, and they should be registered from 1985.
- There was significant delay in the committee filing their appeal to the tribunal. They argued this was due to ignorance of the law and wrong advice.
- The tribunal considered precedents supporting con
This document provides a summary of tax updates and circulars from the CBDT and cases from various courts in India for the month of January 2019. Some key points include:
1. The CBDT issued guidance on TDS on salary and withdrew a circular on applicability of section 56(2)(viia).
2. The notification provided a simplified procedure for startups to get approval under section 56(2)(viib).
3. Various cases related to reopening of assessments, capital gains, exemption under section 11, and transfer pricing adjustments were decided by the High Courts and Tribunals.
4. International tax updates from the OECD included several countries joining the inclusive framework on BEPS
1. The document summarizes key updates from the Tax Bulletin of June 2020 regarding direct tax matters in India.
2. It discusses two judicial cases - in the first case, the ITAT held that no disallowance under section 14A can be made if the assessee has not earned any tax-exempt income. In the second case, the ITAT allowed depreciation on the cost of a golf course by considering it as "plant and machinery".
3. It also summarizes three circulars/notifications issued by the CBDT - reduction of TDS/TCS rates and extension of various compliance due dates in light of COVID-19; deferring new procedures for approval/registration
Sharing a Compilation of Case Laws on ‘Notice Under Section 148’ of Income Tax Act, 1961. The said document is available at http://expertspanel.in/?qa=blob&qa_blobid=10601143440222107929 as well as at http://lunawat.com/Uploaded_Files/Attachments/F_4740.pdf
This document provides a summary of tax updates from February 2019 in India. Key points include:
- The due date for filing ITR was extended to February 28, 2019 for taxpayers in Kerala affected by floods.
- Angel tax rules were relaxed and no tax will be imposed on share issuances up to Rs. 25 crore.
- The income tax rebate under Section 87A was increased so that no tax is payable on income up to Rs. 5 lakh.
- Monetary limits for filing income tax appeals now also apply to wealth tax appeals.
S. 147 no change of opinion if ao does not specifically apply his mind usha...softdynamite
The document is a judgment from the High Court of Delhi regarding substantial questions of law referred to a Full Bench pertaining to the interpretation of Section 147 of the Income Tax Act, 1961 dealing with reopening of assessments. The 3 questions referred relate to the meaning of the term "change of opinion" and whether reassessment can be valid if there was full disclosure originally or if the Assessing Officer did not raise any queries on a particular issue. The Full Bench provides context on the term "opinion" and examines the conditions for reopening an assessment under Section 147. It also discusses conflicting views on whether only the assessment order can be referred to in determining change of opinion or other factors can also be considered.
Newsletter on daily professional updates- 18th September 2019CA PRADEEP GOYAL
This daily newsletter provides updates on laws, regulations, and developments in India across various fields including taxation, corporate laws, insolvency and bankruptcy, and the economy. Key updates in this issue include the CBDT waiving the lock-in period for non-resident investment in infrastructure debt funds, the ICAI issuing FAQs on dividend distribution tax under Ind AS, and the RBI releasing a discussion paper on payment gateways and aggregators. The newsletter also summarizes recent court judgments and reports on proposed GST rate cuts.
The document provides a summary of tax updates from June 2019 in India. Some key points include:
- The CBDT clarified rules around claiming set-offs of losses against income determined under certain sections.
- The Finance Minister raised issues of digital tax at the G20 meeting and the G20 agreed to introduce new digital tax rules for tech giants by 2020.
- 702 start-ups were exempted from Angel Tax provisions until June 2021.
- Internationally, countries like Morocco and Serbia took steps to strengthen tax treaties and international cooperation on issues like tax evasion.
- Domestically, several Supreme Court and High Court rulings addressed issues like eligibility for tax exemp
Section 119(2)(b) of the Income Tax Act, 1961 - CBDT needs to act judicially,...D Murali ☆
Section 119(2)(b) of the Income Tax Act, 1961 - CBDT needs to act judicially, not arbitrarily - T. N. Pandey - Article published in Business Advisor, dated September 10, 2014 http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
Income-tax – Case law updates - V. K. SubramaniD Murali ☆
Income-tax – Case law updates - V. K. Subramani - Article published in Business Advisor, dated August 10, 2016 - http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
Will secured creditor have priority over income-tax arrears? - V. K. SubramaniD Murali ☆
Will secured creditor have priority over income-tax arrears? - V. K. Subramani - Article published in Business Advisor, dated October 10, 2016 - http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
With a shit to GST, the Indian taxation system has undergone a tremendous transformation.
This article deals with the first and the most important step towards the shift, Registration.
This document provides a summary of recent legal landmarks across various high courts and tribunals in India. It lists 6 cases covering topics such as:
1. The levy of penalty where the assessee voluntarily surrendered long term capital gains prior to a section 148 notice.
2. Whether a section 14A disallowance can be made without determining the purpose of an investment generating exempt income.
3. Whether cash received by retiring partners represented capital gains or income.
4. Whether the deletion of an income addition on pure findings of fact raises a substantial question of law.
5. Whether an appeal order should wait for the disposal of a pending SLP on the same question of law.
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1. 1
ITA No. 210/PAT/2018
Suresh Prasad
AY 2014-15
IN THE INCOME TAX APPELLATE TRIBUNAL PATNA BENCH,
(VIRTUAL HEARING AT KOLKATA)
[BEFORE SHRI MANISH BORAD, ACCOUNTANT MEMBER &
SHRI SONJAY SARMA, JUDICIAL MEMBER]
I.T.A. No. 210/PAT/2018
Assessment Year: 2014-15
ITO, Ward-4(5), Patna Vs. Shri Suresh Prasad
S/o. Late Jugal Prasad, Katra Bazar,
Rikabganj, Malsalami, Patna City, Patna-
800008.
[PAN: ABIPP 4922 F]
Appellant Respondent
Date of Hearing 18.07.2022
Date of Pronouncement 04.08.2022
For the Revenue Shri Rupesh Agrawal, Sr. DR
For the Assessee Shri Sunil Kr. Dubey, Advocate
ORDER
PER SONJOY SARMA, JM:
The present appeal has been preferred by the revenue against the order of ld. CIT(A),
Patna-2 dated 06.06.2018 [hereinafter referred to as ‘CIT’] passed u/s 250 of the Income
Tax Act (hereinafter referred to as the ‘Act’). The revenue in this appeal has taken the
following grounds of appeal:
i. The Order of the CIT (A] dt. 6.06.2018 is perverse and bad in law & facts in as much as he did
not consider the basic fact of the Addition made under the Head, Long Term Capital Gain for Rs.
3,63,50,267/ as the Assessee failed discharge, the onus of evidence substantiating his claim of
Exemption from Capital Gain on account of Agriculture Land, during the Assessment
Proceedings.
ii. The Order of the CIT [A] is further perverse and bad in law & facts in as much as he has erred
in admitting additional evidence in violation of Rule 46A.
iii. The Order of the CIT [A] is further perverse and bad in law & frets in as much as he failed to
understand that TDS was deducted v/s194LA treating it to be other than Agriculture Land, hence,
it comes within the meaning of Capital Assets u/s 2(14)(iii).
2. 2
ITA No. 210/PAT/2018
Suresh Prasad
AY 2014-15
iv. The Order of CIT [A] is further perverse and bad-in-law & facts in as much as he did not
consider the Word, Compulsory Acquisition, for which the Assessee had given consent.
v. The Order of CIT [A] is further perverse and bad-in-law & frets in as much as he failed to
consider the issue, reason and main frets behind the Addition, as to why the Assessing Officer has
considered and treated it fit to be Capital Gain/Assets in the Assessment Order keeping in view of
the provisions u/s 2(14)(iii) and u/s 10(37) of the I.T. Act, 1961.
vi. The Order of CIT [A] is further perverse and bad-in-law &facts in as much merely considered
in his Order that- “it is undisputed and evidentially prove that the Compulsorily Acquired Land
fulfills the Condition of provision of Section10[37] and Section 2(14)(iii) of the I.T. Act, 1961”
merely on the ground that “part of the land is still under agricultural cultivation.
vii. The Order of CIT [A] is further perverse and bad-in-law & facts in as much opined on his
own that- “TDS has been deducted by the Land Acquisition ( only due to not understanding
the technical feet of Section 10(37] and 2(14)(iii).
viii. The Order of CIT [A] is further perverse and bad-in-law &facts in as much as 1 not consider
the distance of the Acquired Land keeping in view of Municipal A Section 2(14)(iii).
2. Brief facts of the case are that the assessee receipt of compensation for Rs.
3,68,19,767/- against acquisition of his land by the District Land Acquisition Officer, Patna
and it was found that the assessee was liable to pay tax on capital gain on compensation
amount. Accordingly, the case was opened u/s 148 of the Income-tax Act and notice was
issued upon the assessee and in response to such notice, the assessee filed its return of
income for A.Y. in question. While doing so, the assessee showing his works contract
business income for Rs. 1,20,960/- and agricultural income for Rs. 3,55,500/-. Further, the
assessee has shown exempted income for Rs. 3,55,500/- under the head, agricultural income
and Rs. 3,68,19,767/- under the head, compensation receipt amount totaling to Rs.
3,71,75,267/-.
3. Further, the AO issued notice u/s 142(1) to assessee to submit documentary evidence
in relation to the compensation receipt and exempted income and in response to the same,
the assessee had submitted his detailed reply. However, the AO on the basis of submission
made by assessee, he had calculated the long term capital gain as under:
“Sale consideration Rs. 3,68,19,767/-
3. 3
ITA No. 210/PAT/2018
Suresh Prasad
AY 2014-15
Less: Estimated cost of acquisition Rs. 4,69,500/-
50,000/- x 939/100
Long Term Capital Gain Rs. 3,63,50,267/-
It was added back to the total income of the assessee.”
4. Dissatisfied with the above order, assessee preferred an appeal before the ld. CIT(A)
wherein the ld. CIT(A) allowed the appeal of the assessee by observing as under:
5. Now, dissatisfied with the above order passed by the ld. CIT(A), the revenue is in
appeal before the Tribunal.
6. The main grievance of the revenue relates to the exemption allowed to the assessee
by the ld. CIT(A) from compensation received on acquisition of land and the remaining
ground no. (ii) to (ix) are consequential or general in nature, therefore, need not to be
adjudicated.
7. At the time of hearing, the ld. DR submitted that order passed by ld. CIT(A) dated
06.06.2018 is perverse and bad in law. Since assessee completely failed to discharge the
onus of evidence sustaining his claim of exemption from capital gain during assessment
proceeding further ld. CIT(A) has erred in admitting additional evidence in violation of Rule
46A of the Income-tax Act and as such it required to be quashed.
8. On the other hand, ld. AR supported the order passed by the ld. CIT(A) and
submitted that the order passed by the ld. CIT(A) was a reasoned order need not required
any further inference by the Hon’ble Tribunal. He further submitted that the ld. CIT(A)
deleted the addition with the following observation:
“The appellant has submitted all the required documents regarding acquisition
of land as asked by AO during the assessment proceeding such as Gazette
Notification in relation to acquisition of his land, sale receipt of agricultural
product, letter of NHAI etc. which evidentially confirms the said compulsorily
acquired land under the provision of section 2(14)(iii) of the I.T. Act.
I have considered the submission made by the appellant and also going through
documents such as Gazette Notification in relation to acquisition of land I am of
4. 4
ITA No. 210/PAT/2018
Suresh Prasad
AY 2014-15
the view that the whole of the capital gain arising on transfer of land by way of
acquisition by the State Government is not taxable. I accordingly hold that the
additions made by computing LTCG and disallowing exemption u/s 10(37) of the
Income Tax is not sustainable. The same is directed to be deleted.”
9. Further, the ld. AR submitted that Circular No. 36/2016 dated 25.10.2016 issued by
CBDT which reads as under:
“Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
ITA.II division. North Block,
New Delhi, the 25lh
of October, 2016
Subject: Taxability of the compensation received by the land owners for the land
acquired under the Right to Fair Compensation and Transparency in Land Acquisition,
Rehabilitation and Resettlement Act, 2013 ('RFCTLAAR Act') reg.-
Under the existing provisions of the income-tax Act, 1961 ('the Act'), an agricultural
land which is not situated in specified urban area, is not regarded as a capital asset.
Hence, capital gains arising from the transfer (including compulsory acquisition) of
such agricultural land is not taxable. Finance (No. 2) Act, 2004 inserted section 10(37)
in the Act from 01.04.2005 to provide specific exemption to the capital gains arising to
an Individual or a HUF from compulsory acquisition of an agricultural land situated in
specified urban limit, subject to fulfilment of certain conditions. Therefore,
compensation received from compulsory acquisition of an agricultural land is not
taxable under the Act (subject to fulfilment of certain conditions for specified urban
land).
2. The RFCTLARR Act which came into effect from Is1
January, 2014, in section 96,
inter alia provides that income-tax shdll not be levied on any award or agreement made
(except those made under section 46) under the RFCTLARR Act. Therefore,
compensation received for compulsory acquisition of land under the RFCTLARR Act
(except those made under section 46 of RFCTLARR Act), is exempted from the levy of
income-tax.
3. As no distinction has been made between compensation received for compulsory
acquisition of agricultural land and non-agricultural land in the matter of providing
exemption from income-tax under the RFCTLARR Act. the exemption provided under
section 96 of the RFCTLARR Act is wider in scope than Ihe tax-exemption provided
under the existing provisions of Income-tax Act, 1961. This has created uncertainty in
the matter of taxability of compensation received on compulsory acquisition of land,
especially those relating to acquisition of non-agricultural'land. The matter has been
5. 5
ITA No. 210/PAT/2018
Suresh Prasad
AY 2014-15
examined by the Board and it is hereby clarified that compensation received in respect
of award or agreement which has been exempted from levy of income-tax vide section
96 of the RFCTLARR Act shall also not be taxable under the provisions of Income-tax
Act, 1961 even if there is no specific provision of exemption for such compensation in
the Income-tax Act, 1961.
4. The above may be brought to the notice of all concerned.
5. Hindi version of the order shall follow. “
10. The relevant paras of above said circular are reproduced herewith which is self-
speaking:
“The RFCTLARR Act (Right to Fair Compensation and Transparency in Land
Acquisition, Rehabilitation and Resettlement Act, 2013) which come into effect from 1st
January, 2014 in section 96 inter alia provides that income tax shall not be levied on
any award or agreement made (except those made under section 46 under the
RFCTLARR Act). Therefore, compensation received for compulsory acquisition of land
under the RFTLARR Act (except those made under section 46 under the RFCTLARR
Act), is exempted from levy of income tax.
As no distinction has been made between compensation received for compulsory
acquisition of agricultural land and non agricultural land in the matter of providing
exemption from income tax under the RFCTLARR Act, the exemption provided under
section 96 of the RFCTLARR Act is wider in scope than the tax exemption provided
under the existing provisions of Income-tax Act, 1961. This has created uncertainty in
the matter of taxability of compensation received on compulsory acquisition of land,
especially those relating to acquisition of non agricultural land. The matter has been
examined by board it is hereby clarified that compensation received in respect of award
or agreement which has been exempted from levy of income tax vide section 96 of the
RFCTLARR Act shall not be taxable under the provisions of Income-tax Act, 1961 even
if there is no specific provision of exemption for such compensation in Income-tax Act,
1961”
And as such the compensation received by the assessee against compulsory acquisition of
land by Govt. for construction of National Highway is beyond the purview of taxation.
11. On consideration of rival submission and material available on record, we are of the
view that the order passed by the ld. CIT(A) is a reasoned order and as such there is no need
to inference by this Tribunal in the order passed by the ld. CIT(A). Besides that in the
present case also the CBDT vide Circular No. 36/2016 dt. 25/10/2016 clarified that the
6. 6
ITA No. 210/PAT/2018
Suresh Prasad
AY 2014-15
compensation received in respect of award or agreement which has been exempt from levy
of Income Tax vide section 96 of the RFCTLARR Act shall also not be taxable under the
provisions of Income Tax Act, 1961 even if there is no specific provisions of exemption for
such compensation in the Income Tax Act, 1961. In the said Circular it is also clarified that
no distinction had been made towards compensation received for compulsory acquisition of
agricultural land and non agricultural land in the matter of providing exemption from
income Tax under the RFCTLARR Act. In the instant case the assessee received
compensation for compulsory acquisition of commercial land during the F.Y. 2014-15
which was exempted under section 96 of the RFCTLARR Act, as clarified by the CBDT
Circular No. 36/2016 dt. 25/10/2016. We therefore considering the totality of the fact as
discussed hereinabove are of the view that the Id. CIT(A) was justified by not confirming
the action of the A.O. Accordingly the appeal of the revenue is dismissed.
12. In the result, the appeal of the revenue is dismissed.
Order is pronounced in the open court on 04.08.2022
Sd/- Sd/-
(Manish Borad) (Sonjoy Sarma)
Accountant Member Judicial Member
Dated: 04.08.2022
Biswajit, Sr. PS
Copy of the order forwarded to:
1. Appellant– ITO, Ward-4(5), Patna.
2. Respondent – Shri Suresh Prasad.
3. CIT(A),
4. CIT ,
5. DR, ITAT,
True Copy By Order
Assistant Registrar
ITAT, Kolkata Benches, Kolkata