Page 23 - DTPA Journal December 21

e Journal
eJournal

Nov. - Dec., 2021

practitioners (individual lawyers and law firms) for Income-tax, Circle 26(2) - [2020] 121 taxmann.com
filing patent applications in foreign countries on behalf 101 (SC)
of his clients in India, services by foreign attorney Scope of : Review petition dismissed against finding
would be classified as 'independent Personal services' . that section 241A requires a separate recording of
satisfaction on part of Assessing Officer that having
SECTION 80-IB OF THE INCOME-TAX ACT, regard to fact that a notice has been issued under
1961 - DEDUCTIONS - PROFITS AND GAINS section 143(2), grant of refund is likely to adversely
FROM INDUSTRIAL UNDERTAKINGS OTHER affect revenue whereafter, with previous approval of
THAN INFRASTRUCTURE DEVELOPMENT Principal Commissioner or Commissioner and for
UNDERTAKINGS reasons to be recorded in writing, refund can be
withheld .
Principal Commissioner of Income Tax, Central-1,
Kolkata v. Sona Vets P. Ltd. SECTION 145A OF THE INCOME-TAX ACT,
Manufacture : Production of poultry feeds by assessee 1961 - METHOD OF ACCOUNTING IN
by way of receiving raw materials and other inputs and CERTAIN CASES
processing them by grinding, mixing, roasting and
blending to produce large quantity of poultry feeds Commissioner of Income Tax-III, Bangalore v. SPR
would amount to 'manufacture' and assessee would be Group Holdings (P.) Ltd. - [2020] 120 taxmann.com
entitled to claim deduction under section 80-IB . 432 (Karnataka)
Commissioner of Income-tax, Mangalure v. Excise duty : In respect of excisable goods
Mandavi Builders, Mangalore - [2020] 121 manufactured and lying in stock, excise duty element
is not to be included in valuation of closing stock .
taxmann.com 36 (Karnataka)
Housing project : Amendment brought on 1-4-2010
SECTION 240 OF THE INCOME-TAX ACT, 1961
vide clauses (e) and (f) to section 80-IB(10) is
- REFUNDS - REFUND ON APPEAL, ETC.
prospective in nature .
VisalakshiAnandkumar v. Assistant Commissioner
Commissioner of Income-tax, Mangalure v.
of Income Tax, Circle-III, Trichy - [2020] 121
Mandavi Builders, Mangalore - [2020] 121
taxmann.com 97 (Madras)
taxmann.com 36 (Karnataka)
Where income of petitioner was chargeable to tax and
Housing project : Where unaccounted money found
assessee paid self assessment tax which was
during search proceedings at premises of assessee-
admittedly payable, merely because income was not
company, engaged in business of building and
assessed in relevant year and was admitted by assessee
developing housing project, was treated as business
on a later date, claim for refund of tax paid on admitted
income of assessee by Assessing Officer, assessee could
income is not sustainable.
not be denied deduction under section 80-IB(10) in
respect of such amount .
DEDUCTIONS
SECTION 241A OF THE INCOME-TAX ACT,
ASCENT MEDITECH VS ASSISTANT
1961 - REFUND - POWER TO WITHHOLD, IN
COMMISSIONER OF INCOME TAX : (2020) 60
CERTAIN CASES
CCH 0215 SuratTrib
Vodafone Idea Ltd. v. Assistant Commissioner of
With respect to the sum received by the assessee from
19

e-JOURNAL
e-JOURNAL