Sec. 279 – Compounding of Offences – There is no limitation provided under sub-section (2) of section 279 for submission or consideration of compounding application and, hence, compounding application could not be rejected on ground of delay in filing application.
Sofitel Realty LLP v. ITO (TDS) – [2023] 153 taxmann.com 496 (Bombay).
Sec. 271D – Penalty for failure to comply with the provisions of Sec. 269SS – Reasonable Cause – No penalty u/s 271D for dealing in cash deposits as assessee – a mutual benefit company dealt with rural dwellers and there was difficulty in mobilising deposits.
CIT v. Sahara India Mutual Benefit Co. Ltd. – [2023] 153 taxmann.com 405 (SC).
Sec. 2(14) – Agricultural Land – SLP dismissed against order of HC that where assessee converted their agricultural lands for non-agricultural purposes but continued agricultural operations and as per notification issued by Central Government, lands did not fall within 8 kms. from municipality, finding of tribunal that lands sold by assessee were agricultural land as defined u/s 2(14)(iii) being based on evidence on record, did not call for any interference.
– Mere inclusion of land in Special Zone without any infrastructure development does not convert land into non-agricultural land.
CIT v. M.R.Prabhavathy – [2023] 154 taxmann.com 143 (SC).
CBDT releases the Fifth Annual APA Report in September 2023.
CBDT lists down reasons for delayed processing of Income-tax Returns.
Press Release, dated 5-9-2023.
HC cannot admit an appeal without formulating any substantial question of law.
Bikram Singh v. PCIT – [2023] 154 taxmann.com 80 (SC).