TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
When case Id is present, search is done only for this
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>High Court grants relief in tax appeals, upholds deletions under Income Tax Act</h1> <h3>DCIT, Central Circle Kota, PCIT (Central), Jaipur, PCIT, Kota Versus M/s Kota Dall Mill, M/s Multimetals Limited, M/s Oriental Power Cables Ltd., M/s Edila Business World Pvt. Ltd., M/s Tirupati Balaji Estates Pvt. Ltd., M/s Hadoti Punj Vikas Ltd., M/s Tirupati Balaji Estates Pvt. Ltd., M/s Rajasthan Cable Industries Ltd., M/s Resonant Wealth Consultancy Pvt. Ltd.</h3> DCIT, Central Circle Kota, PCIT (Central), Jaipur, PCIT, Kota Versus M/s Kota Dall Mill, M/s Multimetals Limited, M/s Oriental Power Cables Ltd., M/s ... Issues:1. Condonation of delay in filing appeals2. Dispensing with filing certified copies of judgments3. Challenge to the judgment of the Income Tax Appellate Tribunal4. Deletion of addition made under Section 68 of the Income Tax Act, 19615. Validity of reassessment under Section-153ACondonation of Delay in Filing Appeals:The High Court waived defects in some appeals and condoned the delay in filing them based on reasons presented during arguments, disposing of the applications accordingly.Dispensing with Filing Certified Copies of Judgments:In cases where a certified copy of the impugned judgment was filed in one appeal, the High Court granted the request to dispense with filing certified copies in all related appeals, leading to the disposal of the applications.Challenge to the Judgment of the Income Tax Appellate Tribunal:Multiple appeals involving the same group of assessees arising from a search action by the revenue were considered. The central issue revolved around the deletion of additions made under Section 68 of the Income Tax Act, 1961. The Commissioner (Appeals) had initially deleted these additions, which the tribunal upheld, resulting in concurrent findings in favor of the assessee.Deletion of Addition Made Under Section 68 of the Income Tax Act, 1961:The High Court analyzed the tribunal's conclusions based on evidence assessment, emphasizing the factual nature of the findings. The tribunal found the additions made by the assessing officer unsustainable, noting discrepancies in the companies involved in the transactions. It highlighted that the assessing officer relied on a report from the Investigation Wing without providing the assessee an opportunity to cross-examine witnesses, leading to the dismissal of the revenue's appeal.Validity of Reassessment Under Section-153A:The tribunal also deemed some reassessments invalid, providing an additional ground for deleting the additions. The High Court decided not to examine this aspect further, as no question of law arose, ultimately dismissing all appeals and disposing of pending applications.This detailed analysis of the judgment showcases the High Court's thorough consideration of various issues, including procedural matters, challenges to tribunal judgments, and the substantive tax law aspects concerning additions and reassessments under the Income Tax Act, 1961.
TaxTMI 