SLP dismissed against impugned HC order that where AO passed an assessment order u/s 143(3) without issuing notice u/s 143(2) and only in pursuance with notice issued by Asstt. CIT u/s 143(2), who had no jurisdiction over assessee at relevant time, such assessment order was liable to be set aside.
Asstt. Commissioner of Income-tax v. S.K. Industries – [2022] 141 taxmann.com 569 (SC).
CBDT issues additional guidelines on deduction of tax at source u/s 194R.
Circular No. 18 of 2022, dated 13-9-2022.
SC admits SLP filed against Madras HC’s decision quashing prosecution launched against Karti Chidambaram.
Deputy Director of Income-tax (Investigations) v. Karti P. Chidambaram – [2022] 142 taxmann.com 223 (SC).
No penalty for misreporting of incoming if AO & assessee used same details to arrive at different conclusions.
Prem Brothers Infrastructure LLP v. National Faceless Assessment Centre – [2022] 142 taxmann.com 38 (Delhi).
Sec. 37 – Difference between price at which stock options were offered to employees of assessee company under ESOP/ESPs & prevailing market price of stock on date of grant of such options, is allowed as recenue expenses u/s 37(1).
PVR Ltd. v. CIT, 2022-TIOL-1177-HC-DEL-IT.
No question of law arises if ITAT held that gain on sale of agricultural land was taxable as business income.
Sunil Bansal v. CIT – [2022] 141 taxmann.com 519 (SC).