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“Section 16(5)”

Section References (mined)Section 16Section 16(5)4 judgments

The decision most relied on for Section 16(5) is Trib.) 5. NIIT Ltd. v. Deputy Commissioner of Income-tax, LTU, Central Circle- 16(1), New Delhi (112 Taxmann.com 66), cited in 11 judgments on BharatTax.

Leading authorities on Section 16(5)

Trib.) 5. NIIT Ltd. v. Deputy Commissioner of Income-tax, LTU, Central Circle- 16(1), New Delhi
112 Taxmann.com 66 · 2019 · Reported
11
citing judgments

Penalties under sections 271D and 271E are attracted only when the transactions in breach of sections 269SS and 269T are either part of the assessee's books of account or are otherwise accepted by the assessee to explain any of their assets or transactions. If the alleged transactions are neither in the books nor explained by the assessee, the penalty provisions are not triggered.

Delhi HC (para 16 to 17 & 22 to 23) 5. PCIT v. I.A. Hydro Energy P. Ltd.
163 Taxmann.com 408 · 2024 · Reported
11
citing judgments

The Departmental Representative argues that the Discounted Cash Flow (DCF) method is not applicable when a company's project has gone off track, as projections lack a basis and credentials/financials are not established.

Judgments citing Section 16(5)

Panjavarnam Sivasubramanian, Tirupur vs. The Income Tax Officer, Faceless Assessment

In the result, appeal filed by the assessee is allowed for statistical purposes

ITA 184/CHNY/2025[2022-23]Status: DisposedITAT Chennai22 Aug 2025AY 2022-23

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

For Appellant: Mr.M. Siva Kumar, AdvocateFor Respondent: Ms. Anitha, Addl.CIT
Section 44ASection 69A

Sadhana Enviro Engineering Services vs. Joint Commissioner of Central Tax & others, where it held that in view of the amendment inserting Section 16(5) the petitioner should be given a reasonable opportunity and heard by the original authority, which should then proceed in accordance with law" 2. Sterling Tools

M/S J.R.D. International Pvt. Ltd, Delhi vs. Dy. Coommissioner of Income Tax Central Circle, Amritsar

Appeals are disposed of in the terms indicated as above

ITA 201/ASR/2019[2015-16]Status: DisposedITAT Amritsar25 Aug 2023AY 2015-16

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Ashwani Kaliya, CAFor Respondent: Sh. Amit Jain CIT, DR
Section 16(5)Section 9(5)(i)

5)(i) of the Code wherein vide para 19, Mr. Parvinder Singh has been appointed as resolution professional under the provisions of section 16(5) of the code. Ld JRD International Pvt. Ltd. v. Dy. CIT AR also submitted that now the appeals of the assessee are to be handled

M/S. J.R.D. International .Pvt. Ltd, Delhi vs. Dy. Commissioner of Income Tax Central Circle, Amritsar

Appeals are disposed of in the terms indicated as above

ITA 200/ASR/2019[2014-15]Status: DisposedITAT Amritsar25 Aug 2023AY 2014-15

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Ashwani Kaliya, CAFor Respondent: Sh. Amit Jain CIT, DR
Section 16(5)Section 9(5)(i)

5)(i) of the Code wherein vide para 19, Mr. Parvinder Singh has been appointed as resolution professional under the provisions of section 16(5) of the code. Ld JRD International Pvt. Ltd. v. Dy. CIT AR also submitted that now the appeals of the assessee are to be handled

M/S. J.R.D. International Pvt Ltd., Delhi vs. Dy. Commissioner of Income Tax Central Circle, Amritsar

Appeals are disposed of in the terms indicated as above

ITA 199/ASR/2019[2013-14]Status: DisposedITAT Amritsar25 Aug 2023AY 2013-14

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Ashwani Kaliya, CAFor Respondent: Sh. Amit Jain CIT, DR
Section 16(5)Section 9(5)(i)

5)(i) of the Code wherein vide para 19, Mr. Parvinder Singh has been appointed as resolution professional under the provisions of section 16(5) of the code. Ld JRD International Pvt. Ltd. v. Dy. CIT AR also submitted that now the appeals of the assessee are to be handled