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II. Direct Tax Case laws:
1. The
Commissioner Of Income Tax And Another versus M/S Gail (India)Ltd.,
INCOME TAX APPEAL No. - 460 of 2009, Date of Order : 19.08.2013.
Whether penalty u/s 272B mandatorily to be imposed upon non quoting of PAN in TDS Certificates.
Held No.
A perusal
of Section 139A(5A) shows that it puts an obligation on the person
receiving any sum or income or amount from which tax has been deducted
under the provisions of Chapter XVII( which include Section 194C and
194J) to intimate his permanent account number to the person responsible
for deducting such tax under that Chapter. Section 139A(5B) makes it
obligatory for every person deducting tax under Chapter XVII-B to quote
the permanent account number of the person to whom such sum or income or
amount has been paid by him. Thus, reading both the provisions
together, namely,Section 139A(5A) and Section 139A (5B) it appears to us
that the deductor may be at fault under section 139A (5B) if he does
not quote the permanent account number of the persons to whom the amount
has been paid, despite the intimation of permanent account number by
such person to the deductor under section 139A(5A) of the Act. In the
present matter there is nothing on record to show that the contractors
had intimated their permanent account number to the respondent assessee
as required under section 139A(5A) of the Act. Therefore under present
circumstances the respondent assessee successfully explained the
reasonable cause to satisfy the provisions of Section 273B of the Act.
(Please click here to view the Judgment)
2. Commissioner of Income-tax - II, New Delhi v. Mira Exim Ltd. IT
APPEAL NOS. 346, 347, 348 & 353 OF 2013, Date of Order : 03.10.2013
Whether depreciation admissible to transferee-co on imported cars "acquired" under M&A scheme effective after 1-4-2001
Held Yes
Merger
& Acquisition can be modes of "acquisition" of imported cars for the
purposes of clause (a) of proviso to section 32(1). Transferee-company
cannot be denied depreciation on imported motor cars acquired by it
under scheme of merger effective from a date after 1-4-2001 on the
ground that the imported motor cars were originally acquired by merged
entities after 28-2-1975 but before 1-4-2001.
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