sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
From the Courts »
 GE Energy Parts Inc vs. CIT (Delhi High Court)
 PCIT vs. Perfect Circle India Pvt. Ltd (Bombay High Court)
 Maruti Suzuki India Ltd. Plot No. 1, Nelson Mandela Road, Vasant Kunj, vs. DCIT, Circle- 16(1), Room No. 312, C.R. Building New Delhi.
 Smt. Ritu Malik T-236, DB Gupta Road, Phara Ganj, New Delhi – 110055 vs. ITO, Ward – 62 (5) New Delhi
 Fluor Daniel India Pvt. Ltd. B 9, LGF Green Park (Main) New Delhi 110 016 vs. ACIT Circle 9(1), Room No.194 C.R.building I.P.Estate New Delhi
 DCIT, Circle-2, Meerut. vs. Reeta Singhal, A-312, Prahlad Vatika, Khair Nagar, Meerut.
 Contata Solutions Pvt.Ltd. A-16/9, Vasant Vihar New Delhi 110 057 vs. ITO, Ward 6(3), Room No.376A Central Revenue Building I.P.Estate New Delhi 110 002
 Late Sh. D. K. Jain Through Legal Hier Mrs. Usha Jain D-19, Nizamuddin East New Delhi vs. DCIT Circle-32(1) New Delhi.
 Shri Neeraj Puri 74-C, Rajpur Road Dehradun Vs. The Pr. C.I.T Dehradun
 Ashok Kumar S/o Sh. Hari Kishan Hingo Kheri, Kandela D- Shamli vs. ITO, Ward – 1 (4) Shamli
 Satish Kumar, Rra Taxindia, D-28, South Extension, Part-I, New Delhi – 49 Vs. Ito, Ward 2(3), Faridabad

Honda Siel Power Products Ltd vs. DCIT (Supreme Court)
September, 28th 2011

For AY 2000-01, the assessee filed a return on 30.11.2000. As s. 14A was inserted subsequently by FA 2001 (w.r.e.f 1.4.62) and was tabled in Parliament on 28.2.2001, the assessee did not make any disallowance u/s 14A. The AO also did not make a disallowance in the s. 143 (3) order passed on 7.3.2003. After the expiry of 4 years, the AO sought to reopen the assessment to make a disallowance u/s 14A. The assessee challenged the reopening on the ground that (i) under the Proviso to s. 14A, a reopening u/s 147 for AY 2001-02 & earlier years was not permissible, (ii) as s. 14A was not on the statute when the ROI was filed, there was no failure to disclose & (iii) as the AO had also sought to rectify u/s 154, he could not reopen u/s 147. The High Court (click here) (197 TM 415) dismissed the Writ Petition inter alia on the ground that the Proviso to s. 14A bars reassessment but not original assessment on the basis of the retrospective amendment. Though the ROI was filed before s. 14A was enacted, the assessment order was passed subsequently. The AO ought to have applied s. 14A and his failure has resulted in escapement of income. The object and purpose of the Proviso is to ensure that the retrospective amendment is not made as a tool to reopen past cases which have attained finality. On appeal by the assessee to the Supreme Court, HELD dismissing the SLP:

In our view, the re-opening of assessment is fully justified on the facts and circumstances of the case. However, on the merits of the case, it would be open to the assessee to raise all contentions with regard to the amount of Rs.98.46 lakhs being offered for tax as well as its contention on Section 14A of the Income Tax Act, 1961.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions